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Exhibit 10.8  

        

  

January 11, 2006 

Mr. Lee
Kim

19172 Red Bluff Drive

Trabuco Canyon, CA 92679 

Dear
Lee: 

        This
letter will serve as the entire agreement between Netlist, Inc. (the "Company") and you, Lee Kim (the "Employee"), with respect to your employment with the Company. 

        1.    Term    

        The
Employee will work full-time for the Company, beginning on January 14, 2006 (the "Beginning Date"). As an employee of the Company, the Employee will serve as its
Chief Financial Officer and perform such services as are customary for an individual having such title and holding such position. The Employee agrees to comply with the Company's rules, regulations
and practices adopted from time to time, so long as they are uniformly applied to all employees of the Company. The Employee further agrees that during his employment with the Company he shall not,
directly or indirectly, engage or participate in any activities which are in conflict with the best interests of the Company. 

        2.    Salary    

        Initially,
the Employee will be paid an annual salary (the "Salary") of $200,000. Salary for any portion of a month will be prorated based upon the number of normal workdays remaining in
the month. The salary will be subject to increase by the Company from time to time. The salary will be processed through payroll and paid at the same time as other executive employees. 

        3.    Incentive Bonus and Equity Participation    

        The
Employee will be entitled to receive incentive cash bonuses and/or warrants or options for the purchase of the Company's stock as specified on the attached  Schedule A. During the course of the
Employee's engagement hereunder, the Employee will remain a partner of Tatum CFO Partners, LLP ("Tatum") or
its successor organization. As a partner of Tatum, the Employee will share with Tatum a portion of his economic interest in any stock options or equity bonus that the Company may grant the Employee
and may also share with Tatum (to the extent specified in the Resources Agreement referenced below) a portion of any cash bonus and severance paid to the Employee by the Company. The Company
acknowledges and consents to such arrangement. 

        4.    Tatum Resources    

        The
Company acknowledges and agrees that the Employee is and will remain a partner of, and has and will retain an interest in, Tatum, which will benefit the Company in that the Employee
will have access to certain Tatum resources pursuant to a certain Full-Time Permanent Engagement Resources Agreement between the Company and Tatum (the "Resources Agreement"). 

1

 

        5.    Employee Benefits    

        The
Employee will be eligible for vacation and holidays consistent with the Company's policy as it applies to executive management and no waiting period will apply. 

        The
Company will reimburse the Employee for all out-of-pocket business expenses promptly after they are incurred. 

        The
Company will reimburse the Employee for the cost of continuing professional education consistent with the currently effective continuing education requirements of the American
Institute of Certified Public Accountants. 

        The
Employee may elect to participate in the Company's employee retirement plan and/or 401(k) plan, and the Employee will be exempt from any delay periods required for eligibility. 

        In
lieu of the Employee participating in the Company-sponsored employee medical, dental and vision insurance benefit, the Employee will remain on his or her current Tatum medical plan.
The Company will reimburse the Employee for amounts paid by the Employee for such medical insurance for himself and his family of up to $750.00 per month. In accordance with the U.S. federal tax law,
such amount will not be considered reportable W-2 income, but instead non-taxable benefits expense. 

        If
the Company has directors' and officers' liability insurance in effect, the Company will provide such insurance coverage for the Employee, along with written evidence to the Employee
that the Employee is covered by such insurance. 

        Furthermore,
the Company will maintain such insurance coverage, if any, with respect to occurrences arising during the term of this agreement for at least three years following the
termination or expiration of this agreement or will purchase a directors' and officers' extended reporting period, or "tail," policy to cover the Tatum Partner. 

        The
Company agrees to indemnify the Employee to the full extent permitted by law for any losses, costs, damages, and expenses, including reasonable attorneys' fees, as they are incurred,
in connection with any cause of action, suit, or other proceeding arising in connection with Employee's employment with the Company. This indemnity will not apply to Employee's gross negligence or
willful misconduct or to actions taken by the Employee in bad faith. 

        6.    Non-competition, Non-recruitment and Non-solicitation by Employee.    

        The
Employee agrees that, during his employment with the Company, the Employee will not engage in any activity competitive with or adverse to the Company's business or welfare, whether
alone, as a partner, or as an officer, director, employee or shareholder, of any other corporation or business entity and shall not otherwise undertake planning for or the organization of any business
activity competitive with the Company's business or combine or conspire with other employees or representatives of the Company for the purpose of organizing any such competitive business activity.
This prohibition shall
not include ownership of less than five percent (5%) of the outstanding stock by the Employee in a publicly traded corporation. 

        During
his employment with the Company and for a period of two (2) years following the termination of the Employment, the Employee shall not, directly or indirectly, induce,
solicit or influence or attempt to induce, solicit or influence any person who is engaged or employed by the Company (whether part-time or full-time and whether as an officer,
employee, consultant, agent or advisor), to terminate his or her employment or other engagement with the Company. The Employee further agrees that, during his employment with the Company and for two
(2) years after termination of such employment, the Employee will not in any manner seek to engage or employ any individual who is employed or engaged by the Company, as an officer, employee,
consultant, agent or advisor for any person or entity other than the Company. 

2

 

        The
Employee agrees that during his employment with the Company and for two (2) years after termination of such employment, the Employee shall not, directly or indirectly,
personally, or on behalf of or in conjunction with any person or entity, divert or take away any client or customer of the Company. 

        7.    Trade Secrets of the Company.    

        The
Employee acknowledges and understands that during his employment with the Company, the Employee will have access to and will utilize and review information which constitutes
valuable, important and confidential trade secrets, as that term is interpreted under the Uniform Trade Secrets Act (California Civil Code Section 3426 et seq.) and/or confidential and
proprietary material and information of or relating to the business of the Company necessary for the successful conduct of the Company's business. This information includes, but is not limited to:
(a) listings of and data regarding the clients (past and current) of the Company (collectively, the "Clients"); (b) information regarding potential customers and clients; (c) data
relating to the identity of the Clients of the Company; (d) information regarding bidding, billing and pricing practices; (e) information regarding the nature and type of services
rendered to the Clients; (f) other methodologies, computer programs, databases, processes, compilations of information, results of proposals, job notes, reports and records, and
(g) information regarding the nature and type of software products sold to or under development with any Client (all of which information is sometimes referred to in this Agreement as the
"Secrets"). The foregoing notwithstanding, the Secrets shall not include information or data which is (i) in the public domain, (ii) generally known in the information technology
staffing services industry, (iii) already known to the Employee as of the date he began his employment with the Company, or (iv) rightfully disclosed to the Employee outside of the scope
of his employment with the Company by a third party not under a duty of confidentiality to the Company. The Employee understands further that the Secrets have been and will be accumulated, by the
Employee and other personnel at the Company at considerable expense to the Company (including but not limited to compensation paid to the Company personnel dealing with the Secrets and the Clients),
and that the Company has and will continue to expend its
resources in order to maintain actively and vigorously the confidentiality of the Secrets, as such information is extremely valuable to the Company, and well worth the expense of enforcement and
preservation of such confidentiality. Accordingly, the Employee agrees as follows: 

        (a)   All
of the Secrets shall be safeguarded and treated as confidential by Employee. 

        (b)   Any
and all data, notes, letters, computer programs, email records, reports, telephone records and all other written documentation relating to the business of the
Company (including but not limited to the Secrets) that may be collected, compiled, written, reviewed or conceived by the Employee, whether set forth in tangible media or intangible, from or by reason
of services performed by the Employee for the Company shall become the sole and absolute property of the Company, and the Employee shall not assert or establish a claim for any statutory or common law
right or any other possessory or proprietary right with respect to any of the above. 

        (c)   The
Employee shall hold the Secrets in strictest confidence and shall not (i) disclose any Secrets to any person, corporation, firm, or other entity, either
during or after his employment with the Company, or (ii) use any Secrets in the Employee's subsequent business or employment, without the prior express written authorization of the Company;
provided, however, that the Employee may disclose Secrets to the extent required to do so by a subpoena lawfully issued in a judicial proceeding or arbitration. 

        (d)   The
Employee shall not otherwise commit any act which shall compromise the confidentiality of any Secrets, including but not limited to making a copy of such property
(whether electronic, paper or otherwise) without the prior express written authorization of the Company. 

3

 

        8.    Confidential Information of Clients.    

        All
ideas, concepts, information and written material disclosed to the Employee by the Company, or acquired from any of the Clients, and all financial, accounting, statistical,
personnel, and business data and plans of the Clients, are and shall remain the sole and exclusive property and proprietary information of the Company, or said Client, and are disclosed in confidence
by the Company or permitted to be acquired from the Clients in reliance on the Employee's agreement to maintain them in confidence and not to use or disclose them to any other person except in
furtherance of the Company's business. 

        9.    Return of Information.    

        At
the time of the termination of his employment with the Company, or upon request, the Employee agrees to deliver promptly to the Company all notes, books, electronic data (regardless
of storage media), correspondence and other written or graphical records (including all copies thereof) in the Employee's possession or under the Employee's control relating to any business, work, the
Clients or any other aspect of the Company, whether or not they contain any Secrets, including but not limited to each original and all copies of all or any part thereof. 

        10.    Cooperation.    

        The
Employee agrees to cooperate in good faith with the Company in connection with any defense, prosecution, or investigation by the Company regarding any actual or potential litigation,
administrative proceeding, or other such procedures, in which the Company may be involved as a party or non-party from time to time. 

        11.    Termination; Severance Payments    

        The
Company and the Employee may terminate this Agreement at any time with 30 days written notice. In the event this Agreement is terminated other than by the Employee voluntarily
or by the Company for Cause (as defined below), or by reason of the Employee's death or permanent disability, the Employee shall be entitled to the following: If the termination of this agreement is
within one year of the Beginning Date, the Employee will be entitled to receive a severance payment ("Severance Payment") equal to one month's Salary. After one year of employment, the Employee will
be entitled to receive a Severance Payment equal to four months' Salary. After two years of employment, the Employee will be entitled to receive a Severance Payment equal to six months' Salary. For
each additional period of six (6) months' employment, the Employee will receive an additional one (1) month's Salary as a Severance Payment, provided that the total Severance Payment
will be limited to a maximum of twelve (12) months' Salary. If this agreement is terminated by the Company without cause or the required notice, or by the Employee for cause, the Employee will
be entitled to receive the Severance Payments noted in this paragraph, plus one additional month's compensation for early termination, and all cash bonuses, equity, and other compensation covered by
this agreement will vest immediately and become payable at the date of termination. 

        If
the Employee is terminated without Cause as a result of, and within six (6) months of, a merger, sale or other change of control event of the Company, the Employee will be
entitled to receive a Severance Payment equal to twelve (12) months' Salary, regardless of length of service. If immediately following a sale, merger or other change of control event the
Employee's title is not Chief Financial Officer or the Employee's duties do not reflect those duties normally associated with the duties of a chief financial officer, the Employee can
self-terminate after ninety (90) days following the change of control event and be entitled to receive a Severance Payment of twelve (12) months' Salary, regardless of length
of service. 

        For
purposes of this Agreement, the term "Cause" means (1) the Employee's violation of this Agreement; (2) conviction of a felony, misappropriation of any material funds or
property of the 

4

 

Company,
commission of fraud or embezzlement with respect to the Company, or any act or acts of dishonesty relating to the Employee's employment by the Company resulting or intended to result in
direct or indirect personal gain or enrichment at the expense of the Company; (3) failing to perform his obligations or carry out his duties to the Company competently due to use of alcohol or
drugs that renders the Employee unable to perform the essential functions of his job; (4) committing any act or omission of a nature involving malfeasance or negligence in the performance of
the Employee's duties to the Company that is likely to cause a material adverse effect on the business of the Company; or (5) materially deviating from the written policies or directives of the
Company, as communicated by its Chief Executive Officer or Board of Directors, in such manner as would reasonably be expected to constitute grounds for termination of an employee in a position similar
to the Employee; provided that, with respect to (4) or (5) above, the Company shall have first provided the Employee written notice stating with specificity the acts, duties or
directives the Employee has failed to observe or perform, and the Employee shall not have, in the reasonable opinion of the Company, corrected the acts or omissions complained of within thirty
(30) days following delivery of such notice. 

        This
agreement will terminate immediately upon the death or disability of the Employee. For purposes of this agreement, disability will be as defined by the applicable policy of
disability insurance or, in the absence of such insurance, by the Company's Board of Directors acting in good faith. 

        12.    Miscellaneous    

        This
agreement contains the entire agreement between the parties, superseding any prior oral or written statements or agreements. 

        Neither
the Employee nor the Company will be deemed to have waived any rights or remedies accruing under this agreement unless such waiver is in writing and signed by the party electing
to waive the right or remedy. This agreement binds and benefits the successors of the parties. 

        The
provisions of this agreement concerning the payment of salary and bonuses, directors' and officers' insurance and confidentiality will survive any termination or expiration of this
agreement. 

        The
terms of this agreement are severable and may not be amended except in a writing signed by the parties. If any portion of this agreement is found to be unenforceable, the rest of
this agreement will
be enforceable except to the extent that the severed provision deprives either party of a substantial portion of its bargain. 

        This
agreement will be governed by and construed in all respects in accordance with the laws of the State of California, without giving effect to
conflicts-of-laws principles. 

        Each
person signing below is authorized to sign on behalf of the party indicated, and in each case such signature is the only one necessary. 

        Please
sign below and return a signed copy of this letter to indicate your agreement with its terms and conditions. 

Sincerely
yours, 

NETLIST, INC.

By:

/s/
Chun K. Hong 

Signature

Name:
Chun K. Hong 

5

 

Title:
President 

Acknowledged
and agreed by: 

	 	 	EMPLOYEE
	 	 	 	 	 
	 	 	
 (Signature)
	 	 	 	 	 
	 	 	Lee Kim
 (Print name)
	 	 	 	 	 
	 	 	Date:	 	

Netlist, Inc.

475 Goddard

Irvine, CA 92618

T. 949.435.0025

F. 949.435.0031 

6

 
 
 

SCHEDULE A    
    
    Incentive Cash Bonus, Stock, or Warrants/Options    

1.    Incentive Cash Bonus    

        The
Employee shall be entitled to an annual performance based incentive cash bonus equal to 50% of Salary. Performance goals will be agreed upon with the Company's Chief Executive
Officer no later than 45 days after the Beginning Date. 

2.    Stock, Warrants, Stock Options or Other Equity-Based Incentive Compensation    

        The
Employee shall be granted as of the Beginning Date options to purchase 150,000 shares of common stock of the Company. Such options will vest over a 4-year period as
follows: a) 25% upon the one-year anniversary of Beginning Date; and b) monthly thereafter at the rate of 2.083% per month. All unvested shares shall immediately vest upon a
change of control as defined by the Company's approved option plan. 

7

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EXHIBIT 10.9  

 
 

Tatum, LLC
  Full-Time Permanent Engagement Resources Agreement    
    

January 10,
2006 

Mr. C.
K. Hong

Chief Executive Officer

Netlist, Inc.

475 Goddard

Irvine, CA 92618 

Dear
Mr. Hong: 

        Tatum,
LLC ("Tatum") understands that Netlist, Inc. (the "Company") desires to hire Lee Kim, one of our partners, as an employee of the Company (the "Employee"). The Company
acknowledges that the Employee is and will remain a partner in our firm so that he will have access to our firm's resources for use in his employment with the Company. This Full-Time
Permanent Engagement Resources Agreement (the "Resources Agreement") sets forth the rights of the Company, through the Employee, to use such resources for the benefit of the Company and for the
payment for such services. 

        Since
the Employee will be under the control and direct management of the Company, and not Tatum, Tatum's obligations to the Company are exclusively those set forth in this Resources
Agreement. This document will serve as the entire agreement between the Company and Tatum. 

Compensation  

        The Company will pay directly to Tatum, as partial compensation for the resources provided, an amount equal to (i) 1.67% of monthly Salary of the Employee
during the first and second 12 months of the term of the Resources Agreement, (ii) 1.00% of monthly Salary during the third 12 months, and (iii) $1,000 per month during the
remainder of the term of this Resources Agreement. 

        The
Company will pay directly to Tatum a portion of any Severance Payments that the Company may make to Employee equal to the same percentage that applies above with respect to Salary,
or $1,000 per month of Severance Payment after 36 months under this Resources Agreement. 

        In
addition, the Company will pay directly to Tatum 15% of any Cash Bonus otherwise payable to the Employee during the term of this Resources Agreement. With respect to 15% of any Equity
Bonus otherwise to be granted to the Employee, after receiving appropriate representations from Tatum for securities law purposes, the Company agrees to issue such 15% portion directly to Tatum, in
lieu of the Employee, in the form of one or more warrants containing terms and conditions substantially equivalent to those applicable to the portion of Equity Bonus retained by the Employee. 

        For
purposes hereof, (i) "Cash Bonus" means any contingent cash consideration (i.e., not yet realized in cash) that is paid, (ii) "Equity Bonus" means any stock, option,
warrant, or similar right (i.e., not yet realized in cash) that is granted, in each case in connection with services rendered by the Employee, and (iii) "Salary" means all compensation,
including severance, paid to Employee, except bonuses and benefits (including medical benefits subsidy paid to Employee). All compensation payable or deliverable to Tatum is referred to herein as the
"Resource Fee." 

        Payments
to Tatum should be made by direct deposit through the Company's payroll system, or by an automated clearing house ("ACH") payment at the same time as payments are made to the
Employee. If such payment method is not available and payments are made by check, Tatum will issue invoices to the Company, and the Company agrees to pay such invoices no later than ten
(10) days after receipt of invoices. 

Deposit  

        Company agrees to pay Tatum and maintain a security deposit of $5,000 for the Company's future payment obligations to Tatum under this Resources Agreement (the
"Deposit"). If the Company breaches this Resources Agreement and fails to cure such breach as provided herein, Tatum will be entitled to apply the Deposit to its damages resulting from such breach.
Upon termination or expiration of this Resources Agreement, Tatum will return to the Company the balance of the Deposit remaining after application of any amounts to unfulfilled payment obligations of
the Company to Tatum as provided for in this Resources Agreement. 

Termination  

        This Resources Agreement will terminate immediately upon the effective date of termination or expiration of the Employee's employment with the Company or upon the
Employee ceasing to be a partner of Tatum. 

        In
the event that either party commits a breach of this Resources Agreement and fails to cure the same within seven (7) days following delivery by the non-breaching
party of written notice specifying the nature of the breach, the non-breaching party will have the right to terminate this Resources Agreement immediately effective upon written notice of
such termination. 

Hiring Employee Outside of Resources Agreement  

        The parties recognize and agree that Tatum is responsible for introducing the Employee to the Company. Therefore, if, at any time during the twelve (12)-month
period following the termination or expiration of this Resources Agreement as a result of the termination of Employee's employment with the Company, the Company employs the Employee or engages the
Employee as an independent contractor (other than in connection with another form of Tatum agreement) to render services of substantially the same nature as those for which Tatum is making the
Employee available pursuant to this Resources Agreement, Tatum will be entitled to receive as a placement fee an amount equal to forty-five percent (45%) of the Employee's Annualized
Compensation (as defined below). The amount will be due and payable to Tatum upon written demand to the Company. In addition, any equity previously granted to Tatum will continue to vest for as long
as Employee or independent contractor, as the case may be, provides services for the Company. For this purpose, "Annualized Compensation" will mean the lesser of: a) the most recent annual
Salary and the maximum amount of any bonus for which the Employee was eligible with respect to the then current bonus year; or b) if the Employee becomes an independent contractor, the amount
of total fees paid or payable over the course of the 12 months following the first date that independent contractor provides services to the Company. 

Insurance  

        To the extent the Company has directors' and officers' liability insurance in effect, the Company will provide such insurance coverage for the Employee, along
with written evidence to Tatum or the Employee that the Employee is covered by such insurance. 

        Furthermore,
the Company will maintain such insurance coverage, if any, with respect to occurrences arising during the term of this agreement for at least three years following the
termination or expiration of this agreement or will purchase a directors' and officers' extended reporting period, or "tail," policy to cover the Employee. 

Disclaimers, Limitations of Liability & Indemnity  

        It is understood that Tatum does not have a contractual obligation to the Company other than to make its resources available to the Employee (by virtue of the
Employee being a partner in Tatum) for the benefit of the Company under the terms and conditions of this Resources Agreement. The Resource Fee will be for the resources provided. Tatum assumes no
responsibility or liability under this Resources Agreement other than to render the services called for hereunder and will not be 

responsible
for any action taken by the Company in following or declining to follow any of Tatum's advice or recommendations. 

        Tatum
represents to the Company that Tatum has conducted its standard screening and investigation procedures with respect to the Employee becoming a partner in Tatum, and the results of
the same were satisfactory to Tatum. Tatum disclaims all other warranties, either express or implied. Without limiting the foregoing, Tatum makes no representation or warranty as to the accuracy or
reliability of reports, projections, forecasts, or any other information derived from use of Tatum's resources, and Tatum will not be liable for any claims of reliance on such reports, projections,
forecasts, or information. Tatum will not be liable for any non-compliance of reports, projections, forecasts, or information or services with federal, state, or local laws or regulations.
Such reports, projections, forecasts, or information or services are for the sole benefit of the Company and not any unnamed third parties. 

        In
the event that any partner of Tatum (including without limitation the Employee to the extent not otherwise entitled in his or her capacity as an officer of the Company) is subpoenaed
or otherwise required to appear as a witness or Tatum or such partner is required to provide evidence, in either case in connection with any action, suit, or other proceeding initiated by a third
party or by the Company against a third party, then the Company shall reimburse Tatum for the costs and expenses (including reasonable attorneys' fees) actually incurred by Tatum or such partner and
provide Tatum with compensation at Tatum's customary rate for the time incurred. 

        The
Company agrees that, with respect to any claims the Company may assert against Tatum in connection with this Resources Agreement or the relationship arising hereunder, Tatum's total
liability will not exceed twelve (12) months of the then current monthly Resource Fee. 

        As
a condition for recovery of any liability, the Company must assert any claim against Tatum within three (3) months after discovery or ninety (90) days after the
termination or expiration of this Resources Agreement, whichever is earlier. 

        Tatum
will not be liable in any event for incidental, consequential, punitive, or special damages, including without limitation, any interruption of business or loss of business, profit,
or goodwill. 

Arbitration  

        If the parties are unable to resolve any dispute arising out of or in connection with this Resources Agreement, either party may refer the dispute to arbitration
by a single arbitrator selected by the parties according to the rules of the American Arbitration Association ("AAA"), and the decision of the arbitrator will be final and binding on both parties. In
the event that the parties fail to agree on the selection of the arbitrator within thirty (30) days after either party's request for arbitration under this paragraph, the arbitrator will be
chosen by AAA. The arbitrator may in his discretion order documentary discovery but shall not allow depositions without a showing of compelling need. The arbitrator will render his decision within
ninety (90) days after the call for arbitration. The arbitrator will have no authority to award punitive damages. Judgment on the award of the arbitrator may be entered in and enforced by any
court of competent jurisdiction. The arbitrator will have no authority to award damages in excess or in contravention of this Resources Agreement and may not amend or disregard any provision herein.
Notwithstanding the foregoing, no issue related to the ownership of intellectual property will be subject to arbitration but will instead be subject to determination by a court of competent
jurisdiction, and either party may seek injunctive relief in any court of competent jurisdiction. 

Miscellaneous  

        Tatum will be entitled to receive all reasonable costs and expenses incidental to the collection of overdue amounts under this Resources Agreement, including but
not limited to attorneys' fees actually incurred. 

        Neither
the Company nor Tatum will be deemed to have waived any rights or remedies accruing under this Resources Agreement unless such waiver is in writing and signed by the party
electing to waive the right or remedy. This Resources Agreement binds and benefits the successors of Tatum and the Company. 

        Neither
party will be liable for any delay or failure to perform under this Resources Agreement (other than with respect to payment obligations) to the extent such delay or failure is a
result of an act of God, war, earthquake, civil disobedience, court order, labor dispute, or other cause beyond such party's reasonable control. 

        The
terms of this Resources Agreement are severable and may not be amended except in a writing signed by Tatum and the Company. If any portion of this Resources Agreement is found to be
unenforceable, the rest of the Resources Agreement will be enforceable except to the extent that the severed provision deprives either party of a substantial portion of its bargain. 

        The
provisions in this Resources Agreement concerning payment of compensation and reimbursement of costs and expenses, limitation of liability, directors' and officers' insurance, and
arbitration will survive any termination or expiration of this Resources Agreement. 

        This
Resources Agreement will be governed by and construed in all respects in accordance with the laws of the State of Georgia, without giving effect to
conflicts-of-laws principles. 

        Nothing
in this Resources Agreement shall confer any rights upon any person or entity other than the parties hereto and their respective successors and permitted assigns and the
Employee. 

        Each
person signing below is authorized to sign on behalf of the party indicated, and in each case such signature is the only one necessary. 

Bank Lockbox Mailing Address for Deposit and Resource Fee only:  

Tatum,
LLC

P.O. Box 403291

Atlanta, GA 30384-3291 

Electronic Payment Instructions for Deposit and Resource Fee:  

	Bank Name:	 	Bank of America
	Branch:	 	Atlanta
	Routing Number:	 	For ACH Payments: 061 000 052

For Wires: 026 009 593
	Account Name:	 	Tatum, LLC
	Account Number:	 	003 279 247 763
	Please reference Netlist, Inc. in the body of the wire.

        Please
sign below and return a signed copy of this letter to indicate the Company's agreement with its terms and conditions. 

We
look forward to serving you. 

Sincerely
yours, 

TATUM, LLC

/s/  KARL HARDESTY     

Signature 

Karl
Hardesty

Area Managing Partner 

Acknowledged
and agreed by: 

	 	 	NETLIST, INC.
	

 	
 	
By:	

/s/  CHUN K. HONG      

	

 	
 	

Title:	

President
	

 	
 	

Date:	

January 11, 2006

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Tatum, LLC Full-Time Permanent Engagement Resources Agreement

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