Document:

Cease and Desist Order

 Exhibit 10.1 
 UNITED STATE OF AMERICA 
 BEFORE THE 
 BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM 
 WASHINGTON, D.C. 
 STATE OF ALABAMA 
 STATE BANKING DEPARTMENT

 MONTGOMERY, ALABAMA 
  

					
	In the Matter of	 		  	
			
		 		  	Docket No. 09-086-B-HC
			
	THE COLONIAL BANCGROUP, INC.	 		  	Cease and Desist Order Issued
	Montgomery, Alabama	 		  	Upon Consent Pursuant to the
		 		  	Federal Deposit Insurance Act.,
	 	 		  	As Amended

 WHEREAS, in recognition of their common goal to maintain the financial soundness of The Colonial
BancGroup, Inc., Montgomery, Alabama, a registered bank holding company (“BancGroup”), and its subsidiary bank, Colonial Bank (the “Bank”), a state chartered nonmember bank, BancGroup has consented to the issuance of a Cease and
Desist Order (the “Order”) by the Board of Governors of the Federal Reserve System (the “Board of Governors”) and the Alabama State Banking Department (the “Superintendent”); 
 WHEREAS , on July 15, 2009 , the board of directors of BancGroup at a duly constituted meeting adopted a resolution authorizing and directing Simuel
Sippial, Jr. to enter into this Order on behalf of BancGroup, and consenting to compliance with each and every provision of this Order by BancGroup and its institution-affiliated parties, as defined in sections 3(u) and 8(b)(3) of the Federal
Deposit Insurance Act, as amended (the “FDI Act”) (12 U.S.C. §§ 1813(u) and 1818(b)(3)), and waiving any and all rights that BancGroup may have pursuant to section 8 of the FDI Act (12 U.S.C. § 1818) to: (i) a hearing
for the purpose of taking evidence 

 
on any matters set forth in this Order; (ii) judicial review of this Order; (iii) contest the issuance of this Order by the Board of Governors
pursuant to section 8 of the FDI Act and the Superintendent pursuant to Section 5-2A-12 (1975) of the Alabama Banking Code; and (iv) challenge or contest, in any manner, the basis, issuance, validity, terms, effectiveness or
enforceability of this Order or any provisions hereof. 
 NOW, THEREFORE, IT IS HEREBY ORDERED that, pursuant to sections 8(b)(1) and (3) of
the FDI Act, and Section 5-2A-12 of the Code of Alabama, that BancGroup and its institution-affiliated parties shall cease and desist and take affirmative action as follows: 
 Source of Strength 
 1. The board of directors of BancGroup shall take appropriate steps to ensure
that the Bank complies with the Order to Cease and Desist entered into with the Federal Deposit Insurance Corporation (the “FDIC”) and the Superintendent effective as June 15, 2009, and any other supervisory action taken by the
Bank’s federal or state regulators. 
 Capital Plan 
 2. Within 30 days of this Order, BancGroup shall submit to the Reserve Bank and the Superintendent an acceptable written plan to maintain sufficient capital at BancGroup, on a consolidated basis, and the Bank, as a
separate legal entity on a stand-alone basis. The plan shall, at a minimum, address, consider, and include: 
 (a) The consolidated
organization’s and the Bank’s current and future capital requirements, including compliance with the Capital Adequacy Guidelines for Bank Holding Companies: Risk-Based Measure and Tier 1 Leverage Measure, Appendices A and D of Regulation Y
of the Board of Governors (12 C.F.R. Part 225, App. A and D) and the applicable capital adequacy guidelines for the Bank issued by the Bank’s federal regulator; 
  

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 (b) the adequacy of the Bank’s capital, taking into account the volume of classified credits,
concentrations of credit, allowance for loan and lease losses (“ALLL”), current and projected asset growth, and projected retained earnings; 
 (c) the source and timing of additional funds to fulfill the consolidated organization’s and the Bank’s future capital requirements; 
 (d) supervisory requests for additional capital at the Bank or the requirements of any supervisory action imposed on the Bank by its federal or state
regulator; and 
 (e) the requirements of section 225.4(a) of Regulation Y of the Board of Governors (12 C.F.R. § 225.4(a)) that
BancGroup serve as a source of strength to the Bank. 
 3. BancGroup shall notify the Reserve Bank and the Superintendent, in writing, no
more than 30 days after the end of any quarter in which BancGroup’s consolidated capital ratios or the Bank’s capital ratios (total risk-based, tier 1 risk-based, or leverage) fall below the plan’s minimum ratios. Together with the
notification, BancGroup shall submit an acceptable written plan that details the steps BancGroup will take to increase its and/or the Bank’s capital ratios above the plan’s minimums. 
 Liquidity Risk Management 
 4. Within 60 days
of the date of this Order, BancGroup will submit to the Reserve Bank and the Superintendent an acceptable written plan for liquidity management at the consolidated organization. The plan will, at a minimum, address, consider, and include:  

 (a) Analysis of additional liquidity sources; 
 (b) appropriate risk limits for each liquidity source; 
 (c) the ability to meet short-term funding needs,
including the maintenance of a sufficient asset liquidity cushion; and 
  

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 (d) a contingency funding plan that includes: (i) an assessment of all potential funding needs; and
(ii) the establishment of quantitative triggers. 
 Allowance for Loan and Lease Losses 
 5. (a) Within 30 days of this Agreement, BancGroup, including its nonbank subsidiaries (collectively “BancGroup”), shall eliminate from
their books, by charge-off or collection, all assets or portions of assets identified as “loss” that have not been previously collected in full or charged off. Thereafter BancGroup shall, within 30 days from the receipt of any federal
report of inspection, charge off all assets classified or identified as “loss” unless otherwise approved in writing by the Reserve Bank and the Superintendent. 
 (b) Within 60 days of this Agreement, BancGroup shall review and revise as appropriate its consolidated ALLL methodology to assure that it is consistent with relevant supervisory guidance, including the Interagency
Policy Statements on the Allowance for Loan and Lease Losses, dated July 2, 2001 (SR 01-17 (Sup)) and December 13, 2006 (SR 06-17). BancGroup shall submit a description of the methodology to the Reserve Bank and the Superintendent upon
adoption. 
 (c) Within 60 days of this Agreement, BancGroup shall submit to the Reserve Bank and the Superintendent an acceptable written
program to be implemented for determining, documenting, and recording an adequate consolidated ALLL. The program shall include policies and procedures to ensure adherence to the consolidated ALLL methodology and provide for periodic reviews and
updates to the consolidated ALLL methodology as appropriate. The program shall also provide for a review of the consolidated ALLL by the board of directors on at least a quarterly calendar basis. Any deficiency found in the consolidated ALLL shall
be remedied in the quarter it is discovered, prior to the filing of any required regulatory reports, by 

  

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additional provisions. The board of directors shall maintain written documentation of its review, including the factors considered and conclusions reached by
the Bancorp or any nonbank subsidiary in determining the adequacy of the consolidated ALLL. During the term of this Agreement, BancGroup shall submit to the Reserve Bank and the Superintendent, within 30 days after the end of each calendar quarter,
a written report regarding the board of directors’ quarterly review of the consolidated ALLL and a description of any changes to the methodology used in determining the amount of consolidated ALLL for that quarter 
 Dividends and Distributions 
 6. (a) BancGroup
shall not declare or pay any dividends without the prior written approval of the Reserve Bank, the Director of the Division of Banking Supervision and Regulation of the Board of Governors (the “Director”), and the Superintendent.

 (b) BancGroup shall not directly or indirectly take dividends or any other form of payment representing a reduction in capital from the
Bank without the prior written approval of the Reserve Bank and the Superintendent. 
 (c) BancGroup and its nonbank subsidiaries shall not
make any distributions of interest, principal, or other sums on subordinated debentures or trust preferred securities without the prior written approval of the Reserve Bank, the Director, and the Superintendent. 
 (d) All requests for prior approval shall be received by the Reserve Bank and the Superintendent at least 30 days prior to the proposed dividend
declaration date, proposed distribution on subordinated debentures, and required notice of deferral on trust preferred securities. All requests shall contain, at a minimum, current and projected information on BancGroup’s capital, earnings, and
cash flow; the Bank’s capital, asset quality, earnings, and ALLL; and identification of the sources of funds for the proposed payment or distribution. For 

  

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requests to declare or pay dividends, BancGroup must also demonstrate that the requested declaration or payment of dividends is consistent with the Board of
Governors’ Policy Statement on the Payment of Cash Dividends by State Member Banks and Bank Holding Companies, dated November 14, 1985 (Federal Reserve Regulatory Service, 4·877 at page 4-323), and Alabama State policies on
dividends. 
 Debt and Stock Redemption 
 7. (a) BancGroup and any nonbank subsidiary shall not, directly or indirectly, incur, increase, or guarantee any debt without the prior written approval of the Reserve Bank and the Superintendent. All requests for prior written
approval shall contain, but not be limited to, a statement regarding the purpose of the debt, the terms of the debt, and the planned source(s) for debt repayment, and an analysis of the cash flow resources available to meet such debt repayment.

 (b) BancGroup shall not, directly or indirectly, purchase or redeem any shares of its stock without the prior written approval of the
Reserve Bank and the Superintendent. Compliance with Laws and Regulations 
 8. (a) In appointing any new director or senior executive
officer, or changing the responsibilities of any senior executive officer so that the officer would assume a different senior executive officer position, BancGroup shall comply with the notice provisions of section 32 of the FDI Act (12 U.S.C.
§ 1831i) and Subpart H of Regulation Y of the Board of Governors (12 C.F.R. §§ 225.71 et seq.) and also provide thirty days prior written notice to the Superintendent. 
  

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 (b) BancGroup shall comply with the restrictions on indemnification and severance payments of section
18(k) of the FDI Act (12 U.S.C. § 1828(k)) and Part 359 of the FDIC’s regulations (12 C.F.R. Part 359). 
 Approval and Implementation of Plans,
a Program, and Progress Reports 
 9. (a) BancGroup shall submit plans and a program that are acceptable to the Reserve Bank and the
Superintendent within the applicable time periods set forth in paragraphs 2,4, and 5(c) of this Order. 
 (b) Within 10 days of approval by
the Reserve Bank and the Superintendent, BancGroup shall adopt the approved plans and program. Upon adoption, BancGroup shall implement the approved plans and program and thereafter fully comply with them. 
 (c) During the term of this Order, the approved plans and program shall not be amended or rescinded without the prior written approval of the Reserve
Bank and the Superintendent. 
 10. Within 30 days after the end of each calendar quarter following the date of this Order, the board of
directors shall submit to the Reserve Bank and the Superintendent written progress response detailing the form and manner of all actions taken to secure BancGroup’s compliance with the provisions of this Order and the results thereof, and a
parent company only balance sheet, income statement, and, as applicable, a report of changes in stockholders’ equity. The Reserve Bank and the Superintendent may, in writing, discontinue the requirements for progress reports or modify the
reporting schedule. 
 Communications 
 11. All communications regarding this Order shall be sent to: 
  

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	 	(a)	Ms. Maria Smith 
Assistant Vice President 
Federal Reserve Bank of Atlanta 
1000 Peachtree Street, N.E. 
Atlanta, Georgia 30309-4470 

  

	 	(b)	Mr. John D. Harrison 
Superintendent of Banks 
State of Alabama State Banking Department 
401 Adams A venue, Ste. 680 
Montgomery, Alabama 36130-1201

  

	 	(c)	Mr. Simuel Sippial, Jr. 
Chairman 
The Colonial BancGroup, Inc. 
100 Colonial Bank Boulevard 
Montgomery, Alabama 36117 

 Miscellaneous 
 12. Notwithstanding any provision of
this Order to the contrary, the Reserve Bank and the Superintendent may, in their sole discretion, grant written extensions of time to BancGroup to comply with any provision of this Order. 
 13. The provisions of this Order shall be binding upon BancGroup and its institution- affiliated parties, in their capacities as such, and their
successors and assigns. 
 14. Each provision of this Order shall remain effective and enforceable until stayed, modified, terminated or
suspended in writing by the Reserve Bank and the Superintendent. 
 15. The provisions of this Order shall not bar, estop or otherwise
prevent the Board of Governors, the Reserve Bank, the Superintendent, or any other federal or state agency from taking any other action affecting BancGroup or any of its current or former institution-affiliated parties and their successors and
assigns. 
  

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 16. The Superintendent, having duly approved this Order, and BancGroup, through its board of directors,
agree that the issuance of this Order by the Board of Governors shall be binding as between BancGroup and the Superintendent to the same degree and legal effect that such Order would be binding upon BancGroup if the Superintendent had issued a
separate Order and included and incorporate all of the provisions of this Order pursuant to the provisions of section 5-2A-12 of the Code of Alabama. 
 By Order of the Board of Governors of the Federal Reserve System and the Superintendent effective this 22nd day of July, 2009. 
  

									
	THE COLONIAL BANCGROUP, INC.	 		 	 BOARD OF GOVERNORS OF
 THE FEDERAL RESERVE
SYSTEM

					
	By:	 	/s/ Simuel Sippial, Jr.	 		 	By:	 	/s/ Robert deV. Frierson
		 	 Simuel Sippial, Jr.
 Chairman
	 		 		 	 Robert deV. Frierson
 Deputy Secretary of the Board

  
  
  

									
		 		 	 ALABAMA STATE SUPERINTENDENT
 OF
BANKS

					
		 		 		 	By:	 	/s/ John D Harrison
		 		 		 		 	 John D Harrison
 Superintendent of Banks
 State of Alabama

  
  
  
  
  
  

 9Employment Offer Letter

 Exhibit 10.1 
 Symmetricom, Inc. 
 July 17, 2009 
 David Cote 
 [address redacted] 
 Dear Dave:

 On behalf of the Board of Directors (the “Board”) of Symmetricom, Inc. (the “Company”), it is our pleasure to offer
you the position of Chief Executive Officer of the Company. The terms of our offer and the benefits provided by the Company are as follows: 
 1. You will report to the Board, which will nominate and appoint you to the Board following the date you start your employment with the Company (the “Start Date”). During your employment, you shall comply with and be bound by the
Company’s operating policies, procedures and practices from time to time in effect during your employment, and you shall devote your full business time to your duties and responsibilities to the Company. 
 2. Your annual base salary will be $450,000 per year, and your base salary will be paid in accordance with the Company’s normal payroll practices.
In addition, for the 2010 fiscal year, you will have the opportunity to earn an annual target bonus (the “Annual Bonus”) in an amount equal to 100% of your base salary based upon your achievement of performance goals to be mutually
determined by you and the Board within 45 days after your Start Date. The exact amount of the Annual Bonus which is earned will be determined by the Board or its Compensation Committee subject to the terms of such bonus plans as the Company may
adopt from time-to-time. Your cash compensation and Annual Bonus for subsequent fiscal years will be subject to annual review by the Compensation Committee of the Board. 
 3. Subject to the approval of the Board or its Compensation Committee, as soon as practicable following your Start Date, you will be granted an option to purchase 900,000 shares of the Company’s common stock
pursuant to the Company’s 2006 Incentive Award Plan (the “Plan”) at an exercise price per share equal to the fair market value of a share of the Company’s common stock on the grant date, as determined in accordance with the Plan
(the “Option”). The shares subject to the Option will vest over four years, with 1/4 of the shares vesting one year after your Start Date and the remaining shares vesting in monthly increments over the succeeding three years, subject to
your continued service with the Company. The Option will be subject to the terms and conditions of the Plan and except as otherwise described in this letter, the Company’s standard form of stock option agreement, which you will be required to
sign as a condition of receiving the Option. 
 4. Subject to the discretion of the Board or its Compensation Committee, you shall be
eligible to receive additional equity awards, from time to time in the future, on such terms and subject to such conditions as the Board or its Compensation Committee shall determine as of the date of any such grant. 

 5. You will be eligible to participate in the Company’s group welfare and retirement benefit plans,
as well as the Company’s deferred compensation plan, in accordance with the Company’s plans or policies as in effect from time to time and the rules established for individual participation in any such plan and under applicable law. You
will be eligible for vacation and sick leave in accordance with the Company’s policies in effect during the term of your employment. 
 6. Upon termination of your employment with the Company for any reason, you will receive payment for all unpaid salary and vacation accrued to the date of your termination of employment and your benefits will be continued under the
Company’s then existing benefit plans and policies as provided under the terms of such plans and policies and as required by applicable law. Under certain circumstances, you will also be entitled to receive separation benefits as set forth
below, but you will not be entitled to any other compensation, award or damages with respect to your employment or termination; in addition, the benefits described in subsections B and C below shall be provided only to the extent that your
termination of employment with the Company constitutes a separation from service within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder, including
Treasury Regulation Section 1.409A-1(h) (“Separation from Service”). A full unilateral release in favor of the Company and its directors, officers and other related persons and an agreement not to solicit employees of the Company for
a period of one year following termination, each in the form provided by the Company, must be executed by you (or your estate or beneficiaries) and become irrevocable within 60 days following your termination date in order to receive any separation
benefits described in subsections B and C below; provided, however, you will not be required to release any right to indemnification that you may have under applicable law, the Company’s bylaws or any indemnity agreement between you and the
Company. 
 A. In the event of your voluntary termination or termination for Cause (as defined below) or your termination due
to death or disability, you will not be entitled to any cash severance benefits or additional vesting of shares subject to the Option or any other equity-based award held by you (“Equity Awards”). 
 B. In the event your employment is terminated without Cause prior to or more than twelve months after a Change of Control (as defined
below), you shall be entitled to cash severance (at the rate of your then current annual base salary) and Company payment of your COBRA insurance premiums (if you elect COBRA coverage), less applicable deductions and withholdings and in accordance
with the Company’s normal payroll practices, for nine months following your termination; provided your right to receive COBRA insurance premiums shall terminate upon your commencement of full-time employment or consulting with another company
(which you shall promptly notify the Company of). 
 C. In the event (i) there is a Change of Control (as defined below),
and (ii) your employment is terminated without Cause or you resign for Good Reason (as defined below) within twelve months thereafter, then in lieu of the separation benefits described in paragraph B above, you shall be entitled to
(x) cash severance (at the rate of your then current annual base salary) and Company payment of your COBRA insurance premiums (if you elect COBRA 

  

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coverage), less applicable deductions and withholdings and in accordance with the Company’s normal payroll practices, for twelve months following your
termination, provided your right to receive COBRA insurance premiums shall terminate upon your commencement of full-time employment or consulting with another company (which you shall promptly notify the combined company of), (y) an additional
cash severance amount equal to the target Annual Bonus for the fiscal year in which the termination of employment occurs, less applicable deductions and withholdings and which shall be paid in installments in accordance with the Company’s
normal payroll practices over the twelve months following your termination, and (z) accelerated vesting of 50% of the unvested shares subject to the Option and any other outstanding Equity Award granted to you which vests based solely on your
continued employment or service, if your termination of employment occurs within one year after your Start Date; provided, however, that if your termination of employment occurs on or after the first anniversary of your Start Date and prior to the
second anniversary of your Start Date, the percentage of such unvested shares to be accelerated shall be 75%, and if your termination of employment occurs on or after the second anniversary of your Start Date, 100% of such unvested shares shall be
accelerated. 
 D. “Cause” means your (i) conviction of a felony under the laws of the United States or any
state thereof or any act of fraud, embezzlement or dishonesty, (ii) breach of fiduciary duties, (iii) material breach of this letter agreement or any other written agreement with the Company, which breach, if curable, is not cured within
fifteen (15) days following your receipt of written notice from the Board of Directors alleging such a breach and providing reasonable detail of the facts and circumstances justifying such allegation of breach, (iv) repeated failure to
diligently perform duties in a reasonable manner pursuant to this letter agreement or repeated failure to diligently follow the lawful directions of the Board, or (v) gross negligence or willful misconduct in performance of duties to the
Company. 
 E. “Change of Control” means the occurrence of any of the following events, provided that such event
constitutes a change in the ownership or effective control of the Company or a change in the ownership of a substantial portion of the assets of the Company, as described in Treasury Regulation Section 1.409A-3(i)(5): 
 (i) A merger or consolidation of the Company with any other corporation, other than a merger or consolidation that would result in the
voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% or more of the total voting power
represented by the Company’s then outstanding voting securities; 
 (ii) The sale or disposition by the Company of all or
substantially all of the Company’s assets; 
 (iii) A change in the composition of the Board, as a result of which fewer
than a majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company as of the date hereof, or (B) are elected, or nominated for election, to the Board
with the affirmative votes of at least a majority of those directors whose election or nomination was not in connection with any transaction described in subsections (i) or (ii) or in connection with an actual or threatened proxy contest
relating to the election of directors of the Company; or 
  

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 (iv) Any “person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended) becoming the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50% or more of the total voting power represented by
the Company’s then outstanding voting securities, without the approval of the Board. 
 F. “Good Reason” means
your resignation due to one of the following conditions, which occurs without your consent: (i) a material diminution of your base compensation, (ii) a material diminution in your authority, duties, or responsibilities, or (iii) the
relocation of your principal place of employment to a location more than 40 miles from the present location of the Company’s executive offices. In order to resign for Good Reason, you must provide written notice to the Company of the existence
of the condition within 90 days of the initial existence of such condition. Upon receipt of such notice of the condition, the Company will be provided with a period of 30 days during which it may remedy the condition. If the condition is not
remedied within the period specified in the preceding sentence, you may resign as a result of such condition specified in the notice, provided that such resignation must occur within 120 days after the initial existence of such condition.

 7. Notwithstanding any provision herein to the contrary, if you are deemed by the Company at the time of your 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 termination benefits to which you are entitled hereunder is required in order to avoid a
prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of your termination benefits shall not be provided to you prior to the earlier of (a) the expiration of the six-month period measured from the date of your
Separation from Service with the Company or (b) the date of your death. Upon the first business day following the expiration of such applicable Code Section 409A(a)(2)(B)(i) deferral period, all payments deferred pursuant to this paragraph
shall be paid in a lump sum to you, and any remaining payments due hereunder shall be paid as otherwise provided herein, with all such payments to be subject to all required tax withholding. For purposes of Section 409A of the Code (including,
without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), your right to receive any installment payments payable (the “Installment Payments”) shall be treated as a right to receive a series of separate
payments and, accordingly, each Installment Payment shall at all times be considered a separate and distinct payment. In addition, to the extent that any reimbursements payable to you hereunder may be subject to Section 409A of the Code, such
amounts shall be paid to you no later than December 31 of the year following the year in which the cost was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year,
and your right to reimbursement will not be subject to liquidation or exchange for another benefit. 
 8. In the event that it shall be
determined that any payment or other benefit by the Company to you hereunder, whether paid or payable (the “Payments”), would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such
Payments shall be payable either (a) in full, or (b) as to such lesser amount which would result in no portion of such Payments being subject to the Excise Tax, whichever of the foregoing amounts, taking into account the applicable
federal, state and local income taxes and the Excise Tax, results in the receipt by you, on an after-tax basis, of the greatest amount of Payments, notwithstanding that all 

  

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or some portion of such Payments may be subject to the Excise Tax. To the extent that any reduction of Payments is required pursuant to this paragraph, the
specific Payments that shall be reduced and the order of such reduction shall be determined by the Company in its sole discretion. Unless you and the Company otherwise agree in writing, any determination required under this paragraph shall be made
in writing by the nationally recognized firm of certified public accountants (the “Accounting Firm”) used by the Company prior to the Change of Control (or, if such Accounting Firm declines to serve, the Accounting Firm shall be a
nationally recognized firm of certified public accountants selected by the Company), whose determination shall be conclusive and binding upon you and the Company for all purposes. For purposes of making the calculations required by this paragraph,
the Accountants may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. You and the Company shall furnish
to the Accountants such information and documents as the Accountants may reasonably request in order to make their determination under this paragraph. The Company shall bear all costs the Accountants may reasonably incur in connection with any
calculations contemplated by this paragraph. 
 9. As an employee of the Company you will have access to certain Company confidential
information and you may, during the course of your employment, develop certain information or inventions which will be the property of the Company. To protect the interests of the Company, you will need to sign the Company’s standard employee
confidentiality agreement as a condition of your employment. We wish to impress upon you that we do not wish you to bring with you any confidential or proprietary material of any former employer or to violate any other obligations you may have to
your former employers. 
 10. While we look forward to a long and profitable relationship, should you decide to accept our offer, you will be
an at-will employee of the Company, which means the employment relationship can be terminated by either of us for any reason at any time. Any statements or representations to the contrary (and any statements contradicting any provision in this
letter) should be regarded by you as ineffective. Further, your participation in any equity based plan or other benefit program is not to be regarded as assuring you of continuing employment for any particular period of time. 
 11. Notwithstanding any other provision of this letter agreement, the Company may withhold from amounts payable hereunder all federal, state, local and
foreign taxes and other amounts that are required to be withheld by applicable laws or regulations. This letter agreement is binding on and may be enforced by the Company and its successors and assigns and is binding on and may be enforced by you
and your heirs and legal representatives (provided that you may not assign your duties hereunder). 
 12. Any dispute, claim or controversy
based on, arising out of or relating to your employment or this letter agreement shall be settled by final and binding arbitration in Santa Clara County, California, before a single neutral arbitrator in accordance with the National Rules for the
Resolution of Employment Disputes (the “Rules”) of the American Arbitration Association (the “AAA”), and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction. Arbitration may be
compelled pursuant to the California Arbitration Act (Code of Civil Procedure §§ 1280 et seq.). If the parties are unable to agree upon an arbitrator, one shall be appointed by the AAA in accordance with its Rules. Each party shall 

  

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pay the fees of its own attorneys, the expenses of its witnesses and all other expenses connected with presenting its case; however, the parties agree that,
to the extent permitted by law, the arbitrator may, in its discretion, award reasonable attorneys’ fees to the prevailing party. Other costs of the arbitration, including the cost of any record or transcripts of the arbitration, AAA’s
administrative fees, the fee of the arbitrator, and all other fees and costs, shall be borne by the Company. 
 13. This letter agreement
constitutes the entire understanding and agreement of the parties hereto with respect to the subject matter hereof and supersedes all prior and contemporaneous agreements or understandings, inducements or conditions, express or implied, written or
oral, between the parties with respect to such subject matter. This letter agreement may be amended or modified only with the written consent of the parties hereto and will be governed by the laws of the State of California without reference to
conflicts of law provisions. 
 14. Our offer of employment is contingent upon completion of satisfactory reference and background checks. In
addition, for purposes of federal immigration law, you will be required to provide the Company with documentary evidence of your identity and eligibility for employment in the United States. That documentation must be provided to the Company within
three business days of your date of hire, or our employment relationship with you may be terminated. 
 15. This offer will remain open until
July 20, 2009. If you decide to accept our offer, and we hope you will, please sign the enclosed copy of this letter agreement in the space indicated below and return it to me. Your signature will acknowledge that you have read and understood
and agreed to the terms and conditions of this offer. Should you have anything else that you wish to discuss, please do not hesitate to call me. 
 We look forward to the opportunity to welcome you to the Company. 
  

			
	Very truly yours,
	
	SYMMETRICOM, INC.
		
	By:	 	 /s/    Robert T. Clarkson

		 	Robert T. Clarkson, Chairman of the Board of Directors

 Acknowledged, Accepted and Agreed 
  

					
	 /s/    David Côté
	 		 	 7-17-09

	David Cote	 		 	Date

  

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