Document:

EX-4.1

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 Exhibit 4.1 

SANOFI 
 Limited liability
company 
 (Société Anonyme à conseil d’administration) 

Registered capital : € 2,497,916,734 

Registered office : 54, rue La Boétie – 75008 Paris 

Registration number : PARIS 395 030 844 

ARTICLES OF ASSOCIATION 

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 PART I 

GENERAL PROVISIONS 
 Article 1 -
Form of company 
 The company, in the form of a limited liability company (société anonyme), is governed by applicable laws and
regulations as well as by these articles of association (statuts). 
 Article 2 - Corporate name 

The corporate name shall be: Sanofi. 
 Article 3 -
Corporate Purpose 
 The company’s corporate purpose, in France and abroad, is: 

 

	•	 	Acquiring interests and holdings, in any form whatsoever, in any company or enterprise, in existence or to be created, connected directly or indirectly with the health and fine chemistry sectors, human and animal
therapeutics, nutrition and bio-industry; 

 in the following areas: 

 

	•	 	Purchase and sale of all raw materials and products necessary for these activities; 

  

	•	 	Research, study, and development of new products, techniques and processes; 

  

	•	 	Manufacture and sale of all chemical, biological, dietary and hygienic products; 

  

	•	 	Obtaining or acquiring all intellectual property rights related to results obtained and, in particular, filing all patents, trademarks and models, processes or inventions; 

 

	•	 	Operating directly or indirectly, purchasing, and transferring - for free or for consideration - pledging or securing all intellectual property rights, particularly all patents, trademarks and models, processes or
inventions; 

  

	•	 	Obtaining, operating, holding and granting all licences; 

  

	•	 	Within the framework of a group-wide policy and subject to compliance with the relevant legislation, participating in treasury management transactions, whether as lead company or otherwise, in the form of centralized
currency risk management or intragroup netting, or any other form permitted under the relevant laws and regulations; 

 And, more generally:

  

	•	 	All commercial, industrial, real or personal, property financial or other transactions, connected directly or indirectly, totally or partially, with the activities described above and with all similar or related
activities and even with any other purposes likely to encourage or develop the company’s activities. 

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 Article 4 - Registered office 

The registered office is located at: 54, rue La Boétie, PARIS 75008. 

Should a transfer of the registered office be decided upon by the Board of Directors (conseil d’administration), the Board is authorised to modify
the statutes accordingly. 
 Article 5 - Term of company 

The term of the company will expire on May 18, 2093 unless dissolved prior to that date or extended by a decision of the Shareholders’ Extraordinary
General Meeting. 
 PART II 

SHARE CAPITAL 
 Article 6 -
Registered Capital 
 The share capital is € 2,497,916,734 (two billion four hundred and ninety-seven million nine hundred and sixteen thousand
seven hundred and thirty-four euros). 
 It is divided into 1,248,958,367 shares each having a par value of €2, of the same class, fully paid. 

Article 7 - Form of shares 
 The shares are
registered or bearer shares, according to the shareholder’s choice, under the conditions established by applicable legal provisions. 
 The company may
apply legislative and regulatory provisions concerning the identification of holders of securities giving them the immediate or future right to vote. 
 Any
individual or entity, acting individually or jointly, who acquires a number of shares representing a proportion of the capital or of voting rights equal to or exceeding 1% of the share capital, or any multiple of this percentage, even beyond the
minimum declaration limits laid down by the legal and regulatory provisions, must inform the company of the total number of shares and voting rights held by the individual or entity and also of any securities giving future access to the capital or
voting rights which may potentially be attached. Notification is to be made by registered mail, return receipt requested, within five stock exchange days of the date on which the threshold was reached. 

The obligation to notify the company also applies when the shareholder’s holding of the capital or voting rights falls to a level below each of those
thresholds described in the third paragraph of this article. 
 The legal penalties applicable to failure to declare the crossing of a statutory threshold
apply equally to a failure to declare the crossing of any threshold stipulated in the articles of association and recorded in the minutes of the shareholders’ meeting at the request of one or more shareholders holding at least 5% of the
company’s share capital or voting rights. 

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 Article 8 - Conveyance and transfer of shares 

The shares are freely negotiable. 
 The transfer of shares occurs
by transfer from one account to another in accordance with the conditions laid down by law and regulations. 
 Article 9 - Rights and obligations
attached to each share 
  

	1)	With regard to ownership of the corporate assets, sharing of profits and the liquidation surplus, each share entitles its owner to an amount in proportion to the number of existing shares. 

 

	2)	Whenever it is necessary to possess a certain number of shares to exercise a right, the owners who do not possess that number of shares are responsible for taking any steps to combine the number required.

  

	3)	Each shareholder has as many votes as the number of shares he owns or represents subject to the provisions below. 

A double voting right is assigned to each registered share that is paid for in full and that has been registered in the name of the same
shareholder for at least two years. 
 The double vote ceases automatically for any share converted into a bearer share or transferred from
one owner to another, subject to exceptions laid down by law. Bonus shares arising from an increase of share capital by incorporation of reserves, profits or share premiums receive the benefit of the double vote as from the time of their issue in so
far as they have been assigned on the basis of shares already benefiting from this right. 
 Article 10 -
Paying-up (libération) of shares 
 Sums that are due on shares to
be paid for in cash are requested by the Board of Directors which determines the dates and extent of the calls for funds. 
 Shareholders who do not make
the payments due on the shares they hold automatically owe the company default interest calculated on a daily basis starting from the due date, at the legal rate in business matters increased by three points, without prejudice to the compulsory
enforcement measures provided by law. 
 PART III 

MANAGEMENT OF THE COMPANY 
 Article
11 - Board of Directors 
  

	1)	The Company shall be administered by a Board of Directors of which the minimum and maximum number of members is set by current legislation. 

A natural person cannot be appointed or reappointed as a director once he or she reaches the age of 70. As soon as the number of directors aged
over 70 represents more than one-third of the directors in office, the oldest director shall be deemed to have resigned; his or her term of office shall end at the date of the next shareholders’ Ordinary
General Meeting. 

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 Each director appointed by a Shareholders’ Ordinary General Meeting must own at least
five hundred shares throughout his term of office. 
 The term of office of directors shall be four years. Directors shall be required to
seek reappointment by rotation, such that members of the Board are required to seek reappointment on a regular basis in the most equal proportions possible. Exceptionally, the Shareholders’ Ordinary General Meeting may appoint a director to
serve for a term of one, two or three years, in order to ensure adequate rotation of Board members. 
 Each director standing down shall be
eligible for reappointment.
  

	2)	Directors representing employees 

 In accordance with the law, one employee representative
director shall be designated by the trade union body which is the most representative, within the meaning of the applicable legislation, in the Company and those of its direct or indirect subsidiaries that have their registered office in French
territory, and one director shall be designated by the European Works Council. 
 An employee representative director shall hold office for a
term of four years. His term of office shall end at the close of the Shareholders’ General Meeting held during the calendar year in which his term of office expires to approve the financial statements for the previous financial year. 

If the Company is no longer subject to an obligation to appoint one or more employee representatives to the Board of Directors, the term of
office of the employee representative(s) shall end automatically with no other formalities at the close of the meeting of the Board of Directors which formally notes that the Company no longer falls within the scope of such obligation. 

Article 12 - Chairman and Vice-Chairman of the Board of Directors 

The Board of Directors shall appoint from among its members a Chairman, who must be a natural person. Except in the circumstances specified in article 16 when
he or she also assumes the function of Chief Executive Officer, the Chairman may hold office for the duration of his or her term of office as director, under the conditions laid down in article 11.1 paragraph 2 above. 

The Board may appoint from among its members a Vice-Chairman, who must be a natural person less than 70 years of age. 

They may be appointed for their entire term of office as directors. 

In the event of the temporary incapacity, resignation, death or non-reappointment of the Chairman, the Board of
Directors may delegate another director to act as chairman. In the event of temporary incapacity, such delegation shall be given for a limited period and shall be renewable. In other cases, it shall be valid until a new Chairman is appointed. 

The Chairman shall organise and direct the work of the Board, and be accountable for this to the Shareholders’ General Meeting. 

He shall ensure that the company’s organs of management operate properly and in particular that the directors are capable of fulfilling their duties.

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 Article 13 - Deliberations of the Board 

The Board of Directors shall meet as often as required by the interests of the company, either at the registered office or at any other place indicated in the
notice of the meeting. The Chairman may notify the directors of meetings of the Board of Directors by any means, even orally. 
 Meetings of the Board of
Directors shall be chaired by the Chairman of the Board of Directors or in his absence by the Vice-Chairman. If the Chairman and Vice-Chairman are both absent, the Board of Directors shall appoint, for each meeting, a member who will chair the
meeting. 
 Decisions shall be taken on the quorum and majority conditions stipulated by law. 

The secretary of the Board of Directors shall be authorised to certify copies of and extracts from minutes of Board meetings as a true record. 

Article 14 - Board powers 
 The Board of Directors
shall determine the strategic orientations of the company’s business and ensure they are implemented. 
 Subject to powers expressly granted to
shareholders’ meetings and within the limits of the corporate objects, the Board shall address any issue of relevance to the proper functioning of the company, and shall by its deliberations settle all matters that concern it. 

The Board shall perform controls and tests as it sees fit. Each director shall receive all the information necessary for the fulfilment of his duties, and may
have disclosed to him all documents that he judges to be useful. 
 Article 15 - Committees 

The Board shall appoint a Committee, accountable to the Board, to oversee issues relating to the preparation and audit of financial and accounting information,
in accordance with the law. 
 The Board may appoint one or more other Committees to examine issues referred to them by the Board or the Chairman. 

Article 16 - Management 
 In accordance with the
law, the executive management of the company shall be conducted under the responsibility of the Chairman of the Board of Directors, either by himself or by another natural person appointed by the Board of Directors and bearing the title of Chief
Executive Officer. 
 The Board of Directors shall decide which of these two methods of executive management to adopt on a majority of directors present or
represented. 
 The Board of Directors shall appoint from among its members, or from outside the Board, the Chief Executive Officer, who shall be a physical
person aged less than 65. The Chief Executive Officer shall have the broadest powers to act in all circumstances in the name of the company, within the limits of the corporate objects and subject to powers expressly reserved by law for
shareholders’ meetings and the Board of Directors. He shall represent the company in its dealings with third parties. 

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 If the executive management of the company is conducted by the Chairman, the provisions contained in the law
and regulations and in the articles of association relating to the Chief Executive Officer shall apply to him except those relating to the age limit. He shall take the title of Chairman and Chief Executive Officer and shall hold office until the
Ordinary General Meeting called to approve the financial statements of the immediately preceding financial year and held in the calendar year in which he reaches the age of 68. 

On a proposal by the Chief Executive Officer, whether this function be assumed by the Chairman of the Board or by another person, the Board of Directors may
appoint from one to five persons in charge of assisting the Chief Executive Officer, with the title of Deputy Chief Executive Officer. 
 In agreement with
the Chief Executive Officer, the Board of Directors shall determine the scope and duration of the powers granted to the Deputy Chief Executive Officers. 

In dealings with third parties, the Deputy Chief Executive Officers shall have the same powers as the Chief Executive Officer. 

Article 17 - Observers (censeurs) 

On the Chairman’s proposal, the Board may appoint up to two observers (censeurs). Observers are chosen from amongst the shareholders and are
appointed for a period of five years. The observers may be re-appointed. They may be dismissed at any time by decision of the Board of Directors. 

They are responsible for ensuring that the articles of association are strictly observed. They are invited to attend Board meetings in a consultative
capacity; however, their absence from such meetings is not detrimental to the validity of the proceedings. 
 They examine the annual accounts and address
comments to the members of the Shareholders’ Ordinary General Meeting as they deem necessary. 
 The Board may remunerate the observers by allocating
sums from the amount of the attendance fees allotted by the general shareholders’ meeting to Board members. 
 PART IV 

STATUTORY AUDITORS 
 Article 18 -
Statutory Auditors 
 One or several principal auditors are appointed and carry out their audit assignment in compliance with the law. 

PART V 
 GENERAL
SHAREHOLDERS’ MEETINGS 
 Article 19 - Right of access - Representation 

 

	1)	All shareholders shall be entitled to attend personally or by proxy, in the form and at the places indicated in the notice of the meeting, on presentation of proof of identity and of ownership of the shares held in an
account before the legal limit of accounting registration. 

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

	2)	Any shareholder may be represented or vote by mail on the conditions stipulated by law. 

  

	3)	Any shareholder may also, if the Board of Directors so decides on convening the meeting, participate and vote at meetings by video-conference or by any other means of telecommunication including the Internet that
enables him or her to be identified on the conditions and accordance to the methods laid down by applicable legislation. Such decision will be notified in accordance with the law. 

Those shareholders who use for this purpose, and within the time limits, the electronic form provided on the website of the General Meeting
centralizer shall be deemed to be among the shareholders present or represented. The electronic form may be completed and signed directly on this site through a user code and a password 

The proxy or the vote provided by electronic means prior to the General Meeting, as well as the evidence of receipt which is provided, shall be
deemed irrevocable and may be asserted against all persons, it being specified that in the event of a transfer of share ownership occurring before the legal limit of accounting registration of the shares, the Company will invalidate or revise,
depending on the situation, the proxy or the vote provided before this date and this hour. 
 Article 20 - Notice of general shareholders’
meetings 
 The meetings are convened by the Board of Directors under the conditions and within the time limits prescribed by law. They are held at
the registered office or at in any other place indicated in the convening letter or notice. 
 Article 21 - Meeting committee 

Shareholders’ General Meetings are presided over by the Chairman of the Board of Directors or, in his absence, by a director appointed by the Board. 

The duties of examiner (scrutateur) are fulfilled by the two shareholders, present and willing, who hold the greatest number of votes both in their own
name and in their capacity as authorised agents. 
 The committee appoints a secretary who need not be a member of the general meeting. 

Article 22 - General shareholders’ meetings 

Ordinary and Extraordinary General Shareholders’ Meetings, acting under the conditions of quorum and majority laid down by law, exercise the powers
assigned to them in compliance with the law. 
 PART VI 

ALLOCATION OF PROFITS 
 Article 23 -
Financial year 
 Each financial year starts on January 1st and ends on December 31st. 

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 Article 24 - Allocation of profits 

 

	1)	The profit or loss of the financial year is the difference between the income and expenses of the financial year, after deduction of depreciation, amortization and provisions, as shown in the income statement.

  

	2)	From the profit of the financial year, less any prior losses, a deduction of at least five per cent is made, this deduction being allocated for the creation of a reserve fund known as the “legal reserve”. This
deduction is no longer compulsory when the amount of the legal reserve reaches one-tenth of the registered capital. The deduction begins again if, for any reason whatsoever, the legal reserve falls to a level
below the said fraction. 

 The remaining balance, plus any profit carried forward, constitutes the distributable profit. 

On the Board’s proposal, the Shareholders’ General Meeting may decide that the distributable profit may, totally or partially, be
carried forward or assigned to one or several general or special reserve funds. 
 Article 25 - Dividends 

The Shareholders’ General Meeting , voting on the accounts of the financial year, may grant each shareholder for all or part of the dividend to be
distributed, the option to choose between receiving payment of the dividends in cash or shares. 
 Subject to prevailing legal or regulatory provisions, the
Board of Directors may pay interim dividends in cash or shares, even during the course of the financial year. 
 PART VII 

DISSOLUTION - LIQUIDATION 
 Article
26 
 On the expiry of the term of the company or in case of dissolution prior to that date, the Shareholders’ General Meeting rules on the mode
of liquidation and appoints one or several liquidators whose powers it determines and who carry out their duties, in compliance with the law. 
 The
liquidation proceeds are first used to pay liabilities. Subsequent to this payment and after payment of liquidation costs, the surplus is used to reimburse the nominal value of the shares; the balance is distributed amongst the shareholders in the
same proportions as their participation in the share capital. 

 This text is a free translation from the French language and is supplied solely for
information purposes. 
 Only the original version in the French language has legal force. 

 

 PART VIII 

DISPUTES 
 Article 27 

Any disputes that may arise during the life of the company or its liquidation, either between the shareholders and the company or between the shareholders
themselves, concerning the interpretation or enforcement of these statutes or generally regarding corporate business, are subject to the jurisdiction of the competent courts.Exhibit

Exhibit 10.1

CHANGE IN CONTROL AND SEVERANCE AGREEMENT

This amended and restated Change in Control and Severance Agreement (the “Agreement”) is made and entered into by and between Dan Mondor (“Executive”) and Inseego Corp., a Delaware corporation (the “Company”), this 6th day of June, 2018 (the “Effective Date”) and amends and restates that certain Change in Control and Severance Agreement, dated June 6, 2017.

WHEREAS, The Board of Directors of the Company (the “Board”) recognizes the importance of Executive’s role at the Company and that the possibility of an acquisition of the Company or an involuntary termination can be a distraction to Executive and can cause Executive to consider alternative employment opportunities.  The Board has determined that it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication and objectivity of Executive, notwithstanding the possibility, threat or occurrence of such an event;

WHEREAS, the Board believes that it is in the best interests of the Company and its stockholders to provide Executive with an incentive to continue Executive’s employment and to motivate Executive to maximize the value of the Company on a Change in Control (as defined below) for the benefit of its stockholders;

WHEREAS, the Board believes that it is imperative to provide Executive with severance benefits upon certain terminations of Executive’s service to the Company that enhance Executive’s financial security and provide incentive and encouragement to Executive to remain with the Company notwithstanding the possibility of such an event; and

WHEREAS, unless otherwise defined herein, capitalized terms used in this Agreement are defined in Section 9 below.

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, including the agreements set forth below, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

1.    Term of Agreement.

This Agreement shall become effective as of the Effective Date and terminate on June 5, 2021 (the “End of the Term”); however, termination of this Agreement shall not affect the Company’s obligations, if any, under this Agreement with respect to a Covered Termination that occurs prior to the Termination Date. Sections 2 and 6-13 shall survive the termination of this Agreement.

2.    At-Will Employment.

The Company and Executive acknowledge that Executive’s employment shall be “at-will,” as defined under applicable law.  If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement, the Indemnification Agreement between the Company and Executive entered into on or about June 6, 2017 (the “Indemnification Agreement”), the Company’s bylaws (as may be amended from time to time), the Company’s Amended and Restated Certificate of Incorporation (as may be amended from time to time) and/or any other agreement evidencing the grant to Executive of equity compensation.

3.    Covered Termination Other Than During a Change in Control Period.

If Executive experiences a Covered Termination other than during a Change in Control Period, and if Executive delivers to the Company a general release of all claims against the Company and its affiliates, in the form provided by the Company which shall be substantially in the form attached as Exhibit A (which form may be modified by the Company to comply with the facts and applicable law) (a “Release of Claims”) that becomes effective within 55 days following the Covered Termination and irrevocable within 62 days following the Covered Termination (the “Release Requirements”), then in addition to any accrued but unpaid salary, accrued but unused paid time off in accordance with the applicable policies of the Company, incurred but unreimbursed business expenses payable in accordance with the Employment Offer Letter between Executive and the Company, dated June 6, 2017, as amended (the “Offer Letter”), the expense reimbursement policies of the Company and applicable law, or vested benefits (other than severance) under any Company benefit plan (the “Accrued 

Amounts”) the Company shall provide Executive with the following:

(a)  Severance.  If such Covered Termination occurs within 18 months of the Effective Date (the “Initial Term”), Executive shall be entitled to receive an amount equal to eighteen (18) months of his base salary, at the rate in effect immediately prior to the Termination Date. If such Covered Termination occurs between the expiration of the Initial Term and the End of the Term, Executive shall be entitled to receive an amount equal to twelve (12) months of his base salary, at the rate in effect immediately prior to the Termination Date. Any payments pursuant to this Section 3(a) shall be payable in cash in the form of salary continuation, commencing on the first normally- scheduled Company payroll date that is at least 75 days following the Termination Date (with any such amounts that normally would have been payable during the period between the Termination Date and such first payment being included in such first payment), less authorized deductions and applicable withholding taxes.

(b)  Equity Awards.  Each outstanding and unvested restricted stock award, stock option and restricted stock unit award held by Executive that vests solely based upon Executive’s continued employment, shall automatically become vested and, if applicable, exercisable and any forfeiture restrictions or rights of repurchase thereon shall immediately lapse, as of immediately prior to the Termination Date with respect to that number of shares of Company Common Stock that would have next vested had Executive continued employment with the Company through that next vesting date. All equity awards that vest pursuant to the preceding sentence, or the proceeds therefrom, shall be held by the Company until such time as the Executive has timely satisfied the Release Requirements, if at all, and if Executive fails to timely satisfy the Release Requirements, Executive shall forfeit all such awards.

(c)  Continued Healthcare.  If Executive elects to receive continued healthcare coverage pursuant to the provisions of the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company shall directly pay the premium for Executive and Executive’s covered dependents, if any, through the earliest of (i) the last date severance is paid to Executive under subsection (a), above, (ii) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under a group health plan sponsored by another employer of Executive or his spouse and (iii) the date that Executive and/or Executive’s covered dependents, if any, become no longer eligible for COBRA. Any such payment or reimbursement shall be subject to any required withholding taxes.  After the Company ceases to pay premiums pursuant to the preceding sentence, Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance with the provisions of COBRA.  The Company shall have no obligation to make any payment under this subsection (c) if it reasonably determines that doing so would cause adverse consequences under Section 105(h) of the Internal Revenue Code or the Patient Protection and Affordable Care Act or other similar law.

(d)  Pro Rata Bonus.  Executive shall receive a pro rata bonus for the fiscal year of termination based on achievement of the applicable performance goals for the fiscal year of termination based on the number of days in the fiscal year during which Executive was employed as compared to 365, which shall be based on actual achievement of corporate performance goals and criteria as determined by the Board, shall be based on assumed full achievement of any individual performance goal and criteria, and shall be paid to Executive at the time such bonuses normally are paid, but not later than March 15 of the calendar year following the Covered Termination.  Any such pro rata bonus shall be paid in a single cash lump sum, less authorized deductions and applicable withholding taxes.

4.    Covered Termination During a Change in Control Period.

If Executive experiences a Covered Termination during a Change in Control Period, and if Executive satisfies the Release Requirements, then in addition to any Accrued Amounts, but in lieu of any amounts the Executive otherwise could have received under Section 3 of this Agreement, the Company shall provide Executive with the following:

(a)  Severance.  Executive shall be entitled to receive an amount equal to the sum of eighteen (18) months of Executive’s base salary, plus an amount equal to twelve (12) months of the Executive’s annual target bonus opportunity, in each case, at the rate in effect immediately prior to the Termination Date.  The base salary component shall be payable in cash in the form of salary continuation, commencing on the first normally-scheduled Company payroll date that is at least 75 days following the Termination Date (with any such amounts that normally would have been payable during the period between the Termination Date and such first payment being included in such first payment), less authorized deductions and applicable withholding taxes.  The target annual bonus component shall be payable in cash in a lump sum within 10 days of the date the Executive timely satisfied the Release Requirements.

(b)  Equity Awards.  Each outstanding and unvested restricted stock award, stock option and restricted stock unit 

award held by Executive shall automatically become vested and, if applicable, exercisable and any forfeiture restrictions or rights of repurchase thereon shall immediately lapse, as of immediately prior to the Termination Date with respect to one hundred percent (100%) of the unvested shares underlying Executive’s equity awards.  In all other respects Executive’s equity awards shall continue to be bound by and subject to the terms of their respective agreements and equity plans. All equity awards that vest pursuant to the provisions of this Section 4(b), or the proceeds therefrom, shall be held by the Company until such time as the Executive has timely satisfied the Release Requirements, if at all, and if Executive fails to timely satisfy the Release Requirements, Executive shall forfeit all such awards.

(c)  Continued Healthcare.  If Executive elects to receive continued healthcare coverage pursuant to the provisions of COBRA, the Company shall directly pay the premium for Executive and Executive’s covered dependents, if any, through the earliest of (i) the eighteen (18) month anniversary of the Termination Date, (ii) the date Executive and Executive’s covered dependents, if any, become eligible for healthcare coverage under a group health plan sponsored by another employer of Executive or his spouse and (iii) the date that Executive and/or Executive’s covered dependents, if any, become no longer eligible for COBRA.  Any such payment or reimbursement shall be subject to any required withholding taxes.  After the Company ceases to pay premiums pursuant to the preceding sentence, Executive may, if eligible, elect to continue healthcare coverage at Executive’s expense in accordance with the provisions of COBRA.  The Company shall have no obligation to make any payment under this subsection (c) if it reasonably determines that doing so would cause adverse consequences under Section 105(h) of the Internal Revenue Code or the Patient Protection and Affordable Care Act or other similar law.

5.    In Contemplation.

In the event Executive is terminated in Contemplation of a Change in Control, Executive initially shall receive the amounts under Section 3 hereof, provided that, if the Change of Control actually occurs, that Change in Control satisfies the requirements of Treasury Regulation 1.409A-3(i)(5), and the Executive timely satisfied the Release Requirements, then the total severance payable under Section 3(a) shall be eighteen (18) months in the aggregate, (2) the Executive shall receive the target annual bonus amount described in Section 4(a), less any amount paid or payable under Section 3(d), within 10 days of the Change in Control, (3) Section 4(b) shall apply to any outstanding and unvested restricted stock award, stock option and restricted stock unit award held by Executive, and (4) subsection 4(c) shall apply instead of subsection 3(c)  .

6.    Other Terminations.

If Executive’s service with the Company is terminated by the Company or by Executive for any or no reason other than a Covered Termination, Executive shall only be entitled to Accrued Amounts.

7.    Deemed Resignation.

Upon termination of Executive’s employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its affiliates, and, at the Company’s request, Executive shall execute such documents as are necessary or desirable to effectuate such resignations.

8.    Limitation on Payments.

Notwithstanding anything in this Agreement to the contrary, if any payment or distribution Executive would receive pursuant to this Agreement or otherwise (“Payment”) would (a) constitute a “parachute payment” within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”), and (b) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment shall either be (i) delivered in full or (ii) delivered as to such lesser extent which would result in no portion of such Payment being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable federal, state and local income and payroll taxes and the Excise Tax, results in the receipt by Executive on an after- tax basis, of the largest payment, notwithstanding that all or some portion the Payment may be taxable under Section 4999 of the Code.  The accounting firm engaged by the Company for general audit purposes as of the day prior to the Termination Date or, in the event such accounting firm is precluded from performing calculations hereunder, such other accounting firm of national reputation as may be determined by the Company, and reasonably acceptable to Executive, shall perform the foregoing calculations.  The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder.  The accounting firm shall provide its calculations to the Company and Executive within fifteen (15) calendar days after the date on which Executive’s right to a Payment is triggered (if requested at that time by the Company or Executive) or such other time as requested by the Company or Executive. Any good faith determinations of the accounting firm made hereunder shall be final, binding and 

conclusive upon the Company and Executive. Any reduction in payments and/or benefits pursuant to this Section 8 will occur in the following order:  (1) reduction of cash payments; (2) cancellation of accelerated vesting of equity awards other than stock options (with the later vesting reduced first) (3) cancellation of accelerated vesting of stock options (with the later vesting reduced first) and (4) reduction of other benefits payable to Executive or any such other order determined by the Company that will not result in adverse tax consequences under Section 409A of the Code.

9.    Definition of Terms.

The following terms referred to in this Agreement shall have the following meanings:

(a)  “Cause” means (i) any act of material misconduct or material dishonesty by Executive in the performance of his duties; (ii) any willful failure, gross neglect or refusal by Executive to attempt in good faith to perform his duties to the Company or to follow the lawful instructions of the Board (except as a result of physical or mental incapacity or illness) which is not promptly cured after written notice; (iii) Executive’s commission of any fraud or embezzlement against the Company (whether or not a misdemeanor); (iv) any material breach of any written agreement with the Company, which breach has not been cured by Executive (if curable) within thirty (30) days after written notice thereof to Executive by the Company; (v) Executive’s being convicted of (or pleading guilty or nolo contendere to) any felony or misdemeanor involving theft, embezzlement, dishonesty or moral turpitude; and/or (vi) Executive’s failure to materially comply with the material policies of the Company in effect from time to time relating to conflicts of interest, ethics, codes of conduct, insider trading, or discrimination and harassment, or other breach of Executive’s fiduciary duties to the Company, which failure or breach is or could reasonably be expected to be materially injurious to the business or reputation of the Company.

(b)  “Change in Control” means either:

(i)   any “person” (as such term is defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and as used in Sections 13(d)(3) and 14(d)(2) of the Exchange Act) is or becomes, after the Effective Date, a “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities eligible to vote for the election of the Board (the “Company Voting Securities”) or of substantially all of the Company’s assets; provided, however, that an event described in this clause (i) shall not be deemed to be a Change in Control if any of following becomes such a beneficial owner: (A) the Company or any majority-owned subsidiary (provided, that this exclusion applies solely to the ownership levels of the Company or the majority-owned subsidiary), (B) any tax-qualified, broad-based employee benefit plan sponsored or maintained by the Company or any majority-owned subsidiary, (C) any underwriter temporarily holding securities pursuant to an offering of such securities, or (D) any person pursuant to a Non-Qualifying Transaction (as defined in clause (ii)); or

(ii)  the consummation of a merger, consolidation, statutory share exchange or similar form of corporate transaction involving the Company or any of its subsidiaries that requires the approval of the Company’s stockholders, whether for such transaction or the issuance of securities in the transaction (a “Business Combination”), unless immediately following such Business Combination: (A) more than fifty percent (50%) of the total voting power of (x) the corporation resulting from such Business Combination (the “Surviving Corporation”), or (y) if applicable, the ultimate parent corporation that directly or indirectly has beneficial ownership of one hundred (100%) of the voting securities eligible to elect directors of the Surviving Corporation (the “Parent Corporation”), is represented by Company Voting Securities that were outstanding immediately prior to such Business Combination (or, if applicable, is represented by shares into which such Company Voting Securities were converted pursuant to such Business Combination), and such voting power among the holders thereof is in substantially the same proportion as the voting power of such Company Voting Securities among the holders thereof immediately prior to the Business Combination, (B) no person (other than any employee benefit plan (or related trust) sponsored or maintained by the Surviving Corporation or the Parent Corporation), is or becomes the beneficial owner, directly or indirectly, of more than fifty percent (50%) of the total voting power of the outstanding voting securities eligible to elect directors of the Parent Corporation (or, if there is no Parent Corporation, the Surviving Corporation) and (C) at least a majority of the members of the board of directors of the Parent Corporation (or if there is no Parent Corporation, the Surviving Corporation) following the consummation of the Business Combination were members of the Board as of the date hereof or at the time of the Board’s approval of the execution of the initial agreement providing for such Business Combination (any Business Combination which satisfies all of the criteria specified in (A), (B) and (C) above shall be deemed to be a “Non-Qualifying Transaction”).

(c)  “Change in Control Period” means the period commencing 30 days prior to a Change in Control and ending 

on the 12-month anniversary of such Change in Control.

(d)  “Contemplation of a Change in Control” means a Covered Termination that occurs as a result of an action directed or requested by a person that directly or indirectly undertakes a transaction that constitutes a Change in Control of the Company.

(e)  “Covered Termination” means Executive’s resignation for Good Reason or the termination of Executive’s employment by the Company other than a Disability Termination or a termination for Cause that, in each case and to the extent necessary, constitutes a Separation from Service (as defined below).

(f)   “Disability Termination” means a termination of employment by the Company of the Executive after the Executive has been unable for 90 days in any 365 day period to perform his material duties because of physical or mental incapacity or illness.

(g)  “Good Reason” means the occurrence, without Executive’s written consent, of any of the following: (i) a material diminution in Executive’s base compensation, (ii) a material diminution in Executive’s job responsibilities, duties or authorities, or (iii) a material change of at least fifty (50) miles in the geographic location at which Executive must regularly perform Executive’s service. Notwithstanding the foregoing, Executive shall not be deemed to have “Good Reason” unless: (x) the condition giving rise to such resignation continues more than thirty (30) days following Executive’s providing to the Company a written notice detailing such condition, (y) such written notice is provided to the Company within ninety (90) days of the initial occurrence of such condition and
(z) Executive’s resignation is effective within thirty (30) days following the expiration of the Company cure period pursuant to subclause (x).

(h)  “Termination Date” means the date Executive experiences a Covered Termination.

10.  Assignment and Successors.

The Company may assign its rights and obligations under this Agreement to any successor to all or substantially all of the business or the assets of the Company (by merger or otherwise). This Agreement shall be binding upon
and inure to the benefit of the Company, Executive and their respective successors, permitted assigns, personnel and legal representatives, executors, administrators, heirs, distributees, devisees, and legatees, as applicable. None of
Executive’s rights or obligations may be assigned or transferred by Executive, other than Executive’s rights to payments hereunder, which may be transferred only by will or operation of law.

11.  Notices.

Any notice, request, claim, demand, document and other communication hereunder to any party shall be effective upon receipt (or refusal of receipt) and shall be in writing and delivered personally or sent by facsimile or certified or registered mail, postage prepaid (or if it is sent through any other method agreed upon by the parties), as follows:
(i)   if to the Company: 
Inseego,Inc.
Attn: Board of Directors
9605 Scranton Road, Suite 300
San Diego, CA 92121
Facsimile: 858-812-3402

(ii)  if to Executive, at the address set forth in Executive’s personnel file with the Company; or

(iii) at any other address as any party shall have specified by notice in writing to the other party.

12.  Non-Disparagement.

Executive agrees that he shall not disparage, criticize or defame the Company, its affiliates and their respective affiliates, directors, officers, agents, partners, shareholders or employees, either publicly or privately, except in the 

reasonable good faith performance of his duties to the Company.  Nothing in this Section 12 shall have application to any evidence, testimony or disclosure required by any court, arbitrator or government agency.

13.  Dispute Resolution.

The parties agree that if any disputes should arise between Executive and the Company (including claims against its employees, officers, directors, shareholders, agents, successors and assigns) relating or pertaining to or arising out of Executive’s employment with the Company, the dispute will be submitted exclusively to binding arbitration before a neutral arbitrator in accordance with the rules of the American Arbitration Association in San Diego, California.  This means that disputes will be decided by an arbitrator rather than a court or jury, and that both Executive and the Company waive their respective rights to a court or jury trial, except to enforce the decision of the arbitrator. The parties understand that the arbitrator’s decision will be final and exclusive, and cannot be appealed.  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.  The Company and the Executive shall share in the arbitrator’s fees and expenses equally.  The arbitrator shall have the power to award the prevailing party its attorneys’ fees and costs of arbitration (including the arbitrator’s fees paid by the arbitrator) except to the extent prohibited by applicable law.  Notwithstanding the foregoing, Executive and the Company each have the right to resolve any issue or dispute over intellectual property rights by Court action instead of arbitration.

14.  Miscellaneous Provisions.

(a)  Section 409A.

(i)   Separation from Service.  Notwithstanding any provision to the contrary in this Agreement, no amount deemed deferred compensation subject to Section 409A of the Code shall be payable pursuant to Sections 3, 4 or 5 above unless Executive’s termination of employment constitutes a “separation from service” with the Company within the meaning of Section 409A of the Code and the Department of Treasury regulations and other guidance promulgated thereunder (“Separation from Service”).

(ii)  Specified Employee.  Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed at the time of his separation from service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Executive’s benefits shall not be provided to Executive prior to the earlier of (A) the expiration of the six (6)-month period measured from the date of Executive’s Separation from Service or (B) the date of Executive’s death.  Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 14(a)(ii) shall be paid in a lump sum to Executive, and any remaining payments due under this Agreement shall be paid as otherwise provided herein.

(iii) Expense Reimbursements.  To the extent that any reimbursements payable pursuant to this Agreement are subject to the provisions of Section 409A of the Code, any such reimbursements payable to Executive pursuant to this Agreement shall be paid to Executive no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Executive’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.

(iv) Reserved.

(v)  Release.  Notwithstanding anything to the contrary in this Agreement, to the extent that any payments due under this Agreement as a result of Executive’s termination of employment are subject to Executive’s execution and delivery of a Release of Claims, (A) the Company shall deliver the Release of Claims to Executive within ten (10) business days following the Termination Date, (B) if Executive fails to execute the Release of Claims on or prior to the Release Expiration Date (as defined below) or timely revokes his acceptance of the Release of Claims thereafter, Executive shall not be entitled to any payments or benefits otherwise conditioned on the Release of Claims, and (C) in any case where the Termination Date and the Release Expiration Date fall in two separate taxable years, any payments required to be made to Executive that are conditioned on the Release of Claims and are treated as nonqualified deferred compensation for purposes of Section 409A shall be made in the later taxable year. For purposes of this Section 14(a)(v), “Release Expiration Date” shall mean the date 

that is forty-five (45) days following the date upon which the Company timely delivers the Release of Claims to Executive.

(b)  Withholding.  The Company shall be entitled to withhold from any amounts payable under this Agreement any federal, state, local or foreign withholding or other taxes or charges which the Company is required to withhold. If any questions as to the amount or requirement of withholding shall arise, the Company will consider in good faith any written opinion of counsel submitted by Executive that expressly permits the Company to rely on such written opinion.

(c)  Amendment; Waiver.  This Agreement may not be modified, amended, or terminated except by an instrument in writing, signed by Executive and a member of the Board or a Company officer designated by the Board.  No waiver shall operate as a waiver of, or estoppel with respect to, any other or subsequent failure.  No failure to exercise and no delay in exercising any right, remedy, or power hereunder preclude any other or further exercise of any other right, remedy, or power provided herein or by law or in equity.

(d)  Entire Agreement.  The terms of this Agreement, collectively with the Confidentiality Agreement between the Company and Executive entered into on or about June 6, 2017 (the “Confidentiality Agreement”), the living expense reimbursement provisions contained in the Offer Letter and the Indemnification Agreement, is intended by the Parties to be the final expression of their agreement with respect to the employment of Executive by the Company and supersede all prior understandings and agreements (but not the Confidentiality Agreement or the Indemnification Agreement), whether written or oral. The parties further intend that this Agreement, collectively with the Confidentiality Agreement, the living expense reimbursement provisions contained in the Offer Letter and the Indemnification Agreement, shall constitute the complete and exclusive statement of their terms and that no extrinsic evidence whatsoever may be introduced in any judicial, administrative, or other legal proceeding to vary the terms of this Agreement.

(e)  Choice of Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of California.

(f)   Severability. The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect.

(g)  Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together will constitute one and the same instrument.

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year set forth below.

	
		
	INSEEGO CORP.

	 
	 

	By:
	/s/ Robert Pons

	Title:
	Chair of the Compensation Committee

	Date:
	June 6, 2018

	 
	 

	EXECUTIVE

	 

	/s/ Dan Mondor

	Dan Mondor

	 
	 

	Date:
	June 6, 2018

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