Document:

EX-10.7

 Exhibit 10.7 
  

			
	

	  	The Smart Timing ChoiceTM

 October 20, 2014 
 Subject:
New Terms of Employment 
 Dear Piyush, 
 As we have
announced, a transaction is pending (the “Transaction”) whereby SiTime Corporation (the “Company”) will be acquired by MegaChips Corporation (“MegaChips”), and the Company will become a wholly owned subsidiary of
MegaChips. In connection with the Transaction, you will remain an employee of the Company, subject to the revised terms and conditions of employment set forth below. These terms and conditions are subject to the Transaction closing. In the event the
Transaction does not close, your employment with the Company will continue unchanged and the terms and conditions set forth herein will become null and void. 

Following the Transaction, you will remain employed in your current position of Executive VP of Marketing. Your duties will remain the same, as well as your
reporting relationship and work location. Of course, the Company may change your position, duties, and work location from time to time at its discretion. 

Following the Transaction, your salary will be $25,000.00 per month, less payroll deductions and withholdings, payable semi-monthly. Following the
Transaction, you will continue to be eligible to participate in the Company’s benefit plans. As you know, the Company may change your compensation and benefits at any time in its sole discretion. 

You will be eligible to participate in our Exemplary Performance Bonus Plan. Under this plan, you will be eligible to receive an annual bonus of up to
$100,000, to be paid out on a quarterly basis during the month following the end of each quarter; provided, that you (l) meet your pre-determined MBO objectives and goals for the applicable quarter, and
(2) are an employee in good standing on the applicable payment date. This plan will start in 2015. 
 You will also be eligible for a retention bonus
of $30,000 for each of 2015 and 2016. The 2015 retention bonus will be paid on the first regularly scheduled payroll date to occur on or after January 15, 2016, provided that you are an employee in good standing on December 31, 2015. The
2016 retention bonus will be paid on the first regularly scheduled payroll date to occur on or after January 15, 2017, provided that you are an employee in good standing on December 31, 2016. 

Following the closing of the Transaction, subject to the approval of the Board of Directors of MegaChips (the “MegaChips Board”), you will be
granted an option to purchase 45,000 shares of MegaChips common stock (the “MegaChips Option”). The MegaChips Option will be granted under the MegaChips Equity Plan (the “MegaChips Equity Plan”) and will be governed by and
subject to the terms and conditions of the MegaChips Equity Plan and the applicable stock option grant notice and option agreement thereunder (“Option Documents”). Subject to applicable laws, the MegaChips Option will be subject to a two-year vesting schedule pursuant to which the shares subject to the MegaChips Option will vest in eight (8) substantially equal installments on each three-month anniversary of the vesting commencement date,
as set forth in your Option Documents, provided that you are continuously employed with the Company and/or MegaChips on each applicable vesting date. 
 The
Company plans to adopt a profit sharing plan for 2017 and 2018. If you an employee in good standing at the time it is adopted and otherwise meet the eligibility criteria for participation in the plan at such time, you will be eligible to participate
in such plan. Based on current projections, which may change based on business operating results in the future, it is expected that your interest in such plan would be 5.00%. The Company may change such percentage in its discretion. Further details
regarding this plan will be communicated to you at a later date. 
 If the Company terminates your employment without Cause or you resign due to an
Involuntary Termination, subject to (1) your execution (and non-revocation) of a release of claims in the form provided by the Company (the “Release”) within forty five (45) days following
the date of your termination, plus the statutorily required seven-day revocation period (the “Release Period”), and (2) your continued compliance with your Proprietary Information and Invention

  
 990 Almanor Avenue,
Sunnyvale, CA 94085, USA     408.328.4400 (Main)     408.328.4439 (Fax)     www.sitime.com 

			
	

	  	The Smart Timing ChoiceTM

  

 Assignment Agreement and any other confidentiality or restrictive covenant agreement between you and the
Company, you will be entitled to receive the following severance benefits: 
  

	 	•	 	 The Company will make salary continuation payments to you in an amount equal to four (4) months of your
monthly base salary as in effect on the date of your termination, payable in substantially equal installments in accordance with the Company’s normal payroll practices, with the first installment commencing on the date on which the Release
becomes irrevocable; provided, that if the Release Period spans two calendar years, the severance will commence to be paid in the second calendar year (and such first installment will include all installment payments that would otherwise have
been paid prior to such date if this provision did not apply); and 

  

	 	•	 	 If you were participating in the Company’s group health plans as of the date of your termination and you
timely elect to continue your group health insurance coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company will promptly reimburse you for the costs of the COBRA premiums for
yourself and your eligible dependents from the date of your termination until the earliest to occur of: (a) the date which occurs four (4) months after your date of (b) the expiration of your eligibility for continuation coverage
under COBRA, and (c) the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment (the “COBRA Period”). Notwithstanding the foregoing, if at any time the
Company determines, in its sole discretion, that the reimbursement of the COBRA premiums would result in a violation of the nondiscrimination rules of Section of the Code or any statute or regulation of similar effect (including, without limitation,
the 2010 Patient Protection and Affordable Care Act, as amended by the 2010 Health Care and Education Reconciliation Act), then in lieu of reimbursing you for the COBRA premiums, the Company will instead pay you, on the first day of each month of
the remainder of the COBRA Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings and deductions (such amount, the “Special Severance Payment”). Notwithstanding the
foregoing, no payments or reimbursements under this section will be made prior to the date on which the Release becomes effective; provided, further, that if the Release Period spans two calendar years, no payments or reimbursements will be
made until the second calendar year (and such payment will include any other payments that would otherwise have been paid prior to such date if this provision did not apply). If you become eligible for coverage under another employer’s group
health plan or otherwise cease to be eligible for COBRA during the COBRA Period, you must immediately notify the Company of such event, and all payments and obligations under this paragraph will cease. 

For purposes of this offer letter, “Cause” for your termination will exist at any time after the occurrence of one or more of the following events,
in each case, as determined in good faith by the Company: (a) your willful failure substantially to perform your duties and responsibilities to the Company or your deliberate violation of any policy of the Company, which is not remedied (if
remediable) within twenty (20) business days after written notice from the Company, which written notice shall state that failure to remedy such conduct may result in your termination for Cause; (b) your commission of any act of fraud,
embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably expected to result in injury to the Company; (c) your conviction of a felony or a crime involving moral turpitude; (d) your willful breach of any of
your obligations under any written agreement or covenant with the Company; or (e) your breach of any provision of the Proprietary Information and Invention Assignment Agreement, including without limitation, your theft or other misappropriation
of any proprietary information of the Company. 
 For purposes of this offer letter, an “Involuntary Termination” means the occurrence, without
your consent, of any of the following conditions: (a) a reduction often percent (10%) or more in your annual base salary, except as part of a general salary reduction applicable to all of the Company’s executive officers; (b) a
material reduction or change in your job duties, responsibilities and requirements; or (c) your relocation to a facility or location more than fifty (50) miles from your principal place of employment as of the date of this offer letter;
provided, that you provide written notice to the Company of the existence of any such condition within thirty (30) days of your knowledge of the initial existence of such condition and the Company fails to remedy such condition within
thirty (30) days of receipt of such notice (the “Cure Period”); and provided, further, that you actually terminate your employment no later than thirty (30) days following the end of the Cure Period. 

  
 990 Almanor Avenue,
Sunnyvale, CA 94085, USA    408.328.4400 (Main)    408.328.4439 (Fax)    www.sitime.com 

			
	

	  	The Smart Timing ChoiceTM

  

 This offer letter is intended to comply with, or be exempt from, the requirements of Section 409A of the
Internal Revenue Code of 1986, as amended (the “Code”). Notwithstanding anything to the contrary herein, except to the extent any expenses, reimbursement or in-kind benefit provided pursuant to this
offer letter does not constitute “deferred compensation” within the meaning of Section409A of the Code, the amount of expenses eligible for reimbursement or in-kind benefits provided to you during
any calendar year will not affect the amount of expenses eligible for reimbursement or in-kind benefits provided to you in any other calendar year, the reimbursements for expenses for which you are entitled to
be reimbursed will be made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred, and the right to payment or reimbursement or in-kind benefits
hereunder may not be liquidated or exchanged for any other benefit. 
 Following the Transaction, you will be expected to continue to abide by the
Company’s rules and policies, including the Proprietary Information and Invention Assignment Agreement. 
 Your employment will remain at-will. As such, your employment may be terminated at any time, with or without prior notice or cause, by you or the Company. 

To accept this offer of employment with the Company, please review, complete, sign and return a copy of this offer letter, and the Proprietary Information and
Invention Assignment Agreement, if applicable. 
 To expedite the processing of your acceptance of these terms and conditions of employment, you may scan
your signed documents and email them to Human Resources at ns@sitime.com. All required documents must be completed and received no later than October 21st, 2014 at 9am. 

Piyush, we are excited about the opportunity to have you join the MegaChips group! 

Sincerely, 
 /s/ Rajesh Vashist 

Rajesh Vashist 
 CEO 

I have read and accept the above amended terms of employment 
  

			
	/s/
Piyush Sevalia                                      
                  20 OCT 2014	 	
	Piyush
Sevalia                                        
                     Date	 	

  
 990 Almanor Avenue,
Sunnyvale, CA 94085, USA    408.328.4400 (Main)    408.328.4439 (Fax)    www.sitime.comEX-10.8

 Exhibit 10.8 

SITIME CORPORATION 

CHANGE OF CONTROL AND SEVERANCE AGREEMENT 

This Change of Control Severance Agreement (this “Agreement”) is made and entered into effective as of
                     (the “Effective Date”), by and between Rajesh Vashist (“Executive”) and SiTime Corporation, a Delaware
corporation (the “Company”). Certain capitalized terms used in this Agreement are defined in Section 1 below. 

RECITALS 

A.    It is expected that the Company from time to time will consider the possibility of a Change of Control. The Board of
Directors of the Company (the “Board”) recognizes that such consideration can be a distraction to Executive and can cause Executive to consider alternative employment opportunities. 

B.    The Board believes that it is in the best interests of the Company and its shareholders to provide Executive with an
incentive to continue his employment and to maximize the value of the Company upon a Change of Control for the benefit of its shareholders. 

C.    In order to provide Executive with enhanced financial security and sufficient encouragement to remain with the
Company notwithstanding the possibility of a Change of Control, the Board believes that it is imperative to provide Executive with certain severance and other benefits upon Executive’s termination of employment in connection with a Change of
Control. 
 D.    The Board also believes it is in the best interests of the Company and its shareholders to provide
Executive with severance upon involuntary termination other than in connection with a Change of Control. 
 AGREEMENT 

In consideration of the mutual covenants herein contained and the continued employment of Executive by the Company, the parties agree as
follows: 
 1.    Definition of Terms. The following terms referred to in this Agreement shall have the following
meanings: 
 (a)    Cause. “Cause” shall mean Executive’s (i) commission of a felony, an act
involving moral turpitude, or an act constituting common law fraud, and which has a material adverse effect on the business or affairs of the Company or its affiliates or stockholders; (ii) intentional or willful misconduct or refusal to follow
the lawful instructions of the Board that is not cured within thirty (30) days following written notice from the Board; or (iii) intentional breach of Company confidential information obligations which has an adverse effect on the Company
or its affiliates or stockholders. For these purposes, no act or failure to act shall be considered “intentional or willful” unless it is done, or omitted to be done, in bad faith without a reasonable belief that the action or omission is
in the best interests of the Company. 

  
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 (b)    Change of Control. “Change of Control” shall
mean the occurrence of any of the following events: 
 (i)    the approval by the shareholders of the Company of a plan
of complete liquidation or dissolution of the Company or the closing of a sale or disposition by the Company of all or substantially all of the Company’s assets, other than a sale or disposition to a subsidiary of the Company or to an entity,
the voting securities of which are owned by the stockholders of the Company in substantially the same proportions as their ownership of the Company’s voting securities immediately prior to such sale or disposition; 

(ii)    a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent directly or indirectly (either by remaining outstanding or by being converted into voting securities of the surviving entity) more
than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; 

(iii)    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 fifty percent (50%) or more of the total
voting power represented by the Company’s then outstanding voting securities; or 
 (iv)    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 transactions described in subsections (i), (ii) or (iii),
or in connection with an actual or threatened proxy contest relating to the election of directors of the Company. 
 Notwithstanding the
foregoing, the term “Change of Control” shall not be deemed to have occurred if the Company files for bankruptcy protection, or if a petition for involuntary relief is filed against the Company. 

(c)    Disability. “Disability” shall mean “disability” within the meaning of Section 22(e)(3) of
the Code 
 (d)    Equity Award. “Equity Award” shall mean Executive’s awards of options, stock
appreciation rights, restricted shares or stock units with respect to the Company or its successor, or the direct or indirect parent of either, or of any deferred compensation into which such stock options, stock appreciation rights, restricted
shares or stock units were converted upon or prior to a Change of Control. 

  
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 (e)    Involuntary Termination. “Involuntary
Termination” shall mean: 
 (i)    a material reduction in Executive’s title, duties, authorities or
responsibilities relative to Executive’s title, duties, authorities, or responsibilities as of the Effective Date, or, on or following a Change of Control, a material reduction in Executive’s title, duties, authorities, or responsibilities
relative to Executive’s title, duties, authorities, or responsibilities in effect immediately prior to the Change of Control (including Executive reporting to anyone other than the Board of Directors of the acquirer), in each case without the
Executive’s consent; 
 (ii)    without Executive’s express written consent, a reduction by the Company of
Executive’s base compensation of more than ten percent (10%), unless such reduction in base compensation is part of a general reduction in compensation applicable to senior executives of the Company; 

(iii)    without Executive’s express written consent, the relocation of Executive’s principal place of
employment to a facility or a location more than fifty (50) miles from its location as of the Effective Date or, on or following a Change of Control, from its location immediately prior to such Change of Control; 

(iv)    any termination of Executive by the Company which is not effected for Cause; or 

(v)    the failure of the Company to obtain the assumption of this Agreement or any other agreement between the Company
and Executive by any successors contemplated in Section 12 below. 
 A termination shall not be considered an “Involuntary
Termination” unless Executive provides notice to the Company of the existence of the condition described in subsections (i), (ii), (iii) or (v) above within ninety (90) days of the initial existence of such condition, the Company
fails to remedy the condition within thirty (30) days following the receipt of such notice, and Executive terminates employment within one-hundred eighty (180) days following the initial existence of
such condition. A termination due to death or disability shall not be considered an Involuntary Termination. 

(f)    Termination Date. “Termination Date” shall mean Executive’s “separation from
service” within the meaning of that term under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). 

2.    Term of Agreement. This Agreement shall terminate upon the date that all obligations of the parties hereto
under this Agreement have been satisfied. 
 3.    At-Will Employment.
The Company and Executive acknowledge that Executive’s employment is and shall continue to be at-will, as defined under applicable law. 

4.    Effect of Change of Control on Equity Awards. If Executive is employed at the time of a Change of Control and
signs and does not revoke a standard release of claims with the Company in a form acceptable to the Company (a “Release”) that becomes irrevocable within sixty (60) days following the Change of Control, all of Executive’s
outstanding Equity Awards will become fully vested and exercisable immediately prior to the Change of Control. 

  
 3 

 5.    Involuntary Termination in Connection with a Change of
Control. If Executive’s employment with the Company terminates as a result of an Involuntary Termination either on or at any time within twelve months (12) months after a Change of Control, or within three (3) months prior to a
Change of Control, and Executive signs and does not revoke a Release that has become irrevocable within sixty (60) days following the later of the Change of Control or the Termination Date, then Executive shall be entitled to the following
severance benefits: 
 (a)    200% of the sum of Executive’s annual base salary (as in effect prior to any
reduction that constitutes a basis for Involuntary Termination pursuant to this Agreement) plus annual target bonus as in effect on the Termination Date, payable in a lump sum on the sixtieth (60th) day following the later of the Termination Date or
the Change of Control, subject to Section 11 below; 
 (b)    any earned but unpaid annual bonus for any annual
bonus period which had ended prior to the Termination Date, which amount shall be paid at such time as annual bonuses are paid to other senior executives of the Company; 

(c)    all of Executive’s outstanding Equity Awards will become fully vested and exercisable (to the extent not
already accelerated pursuant to Section 4 above); provided, however, that notwithstanding any contrary term of the Equity Award agreement, if Executive is entitled to accelerated vesting under this Section 5 as a result of an Involuntary
Termination within three (3) months prior to a Change of Control: (1) the portion of the Equity Award subject to such accelerated vesting shall not be forfeited or terminated upon the Termination Date pending the Change of Control,
(2) the accelerated vesting shall be deemed to take place immediately prior to the effective date of the Change of Control, and (3) the period within which the Equity Award may be exercised following the Termination Date, if applicable,
will expire no less than one (1) month following the effective date of the Change of Control (but no later than the expiration of the term of the Equity Award); and 

(d)    if Executive so elects and pays to continue health insurance under the Consolidated Omnibus Budget Reconciliation
Act of 1985, as amended, or corresponding provision of state law (“COBRA”), then beginning in the month following the Termination Date (or if later, the date the Release becomes irrevocable, with a
catch-up payment for payments deferred pending the irrevocability of the Release), Company will pay Executive’s monthly COBRA premium costs up to the monthly amount the Company was paying as the
employer-portion of premium contributions for health coverage for Executive and Executive’s eligible dependents immediately before the Termination Date, until the earlier of: (1) the end of the eighteen (18)-month period following the
Termination Date or (2) the date Executive or Executive’s eligible dependents lose eligibility for COBRA continuation coverage. The period of such Company-paid COBRA continuation coverage shall be considered part of Executive’s (and
Executive’s eligible dependents’) COBRA coverage entitlement period. Executive will be solely responsible for timely electing such continuation coverage for Executive and Executive’s eligible dependents. Any increase in the premium
contribution and/or in the number of covered dependents by Executive during the period that Executive continues in the Company’s health insurance benefit plans or receives company-paid COBRA continuation coverage will be at Executive’s own
expense. 

  
 4 

 6.    Involuntary Termination Apart from a Change of Control. If
Executive’s employment with the Company terminates as a result of an Involuntary Termination that occurs more then three (3) months prior to a Change of Control, and Executive signs and does not revoke a Release that has become irrevocable
within sixty (60) days following the Termination Date, then Executive shall be entitled to the following severance benefits: 

(a)    100% of the sum of Executive’s annual base salary (as in effect prior to any reduction that constitutes a
basis for Involuntary Termination pursuant to this Agreement) plus annual target bonus as in effect on the Termination Date, payable in a lump sum on the sixtieth (60th) day following the Termination Date, subject to Section 11 below; 

(b)    any earned but unpaid annual bonus for any annual bonus period which had ended prior to the Termination Date, which
amount shall be paid at such time as annual bonuses are paid to other senior executives of the Company; 
 (c)    all of
Executive’s outstanding Equity Awards will become fully vested and exercisable; and 
 (d)    if Executive so
elects and pays to continue health insurance under COBRA, then beginning in the month following the Termination Date (or if later, the date the Release becomes irrevocable, with a catch-up payment for payments
deferred pending the irrevocability of the Release), Company will pay Executive’s monthly COBRA premium costs up to the monthly amount the Company was paying as the employer-portion of premium contributions for health coverage for Executive and
Executive’s eligible dependents immediately before the Termination Date, until the earlier of: (1) the end of the twelve (12)-month period following the Termination Date or (2) the date Executive or Executive’s eligible
dependents lose eligibility for COBRA continuation coverage. The period of such Company-paid COBRA continuation coverage shall be considered part of Executive’s (and Executive’s eligible dependents’) COBRA coverage entitlement period.
Executive will be solely responsible for timely electing such continuation coverage for Executive and Executive’s eligible dependents. Any increase in the premium contribution and/or in the number of covered dependents by Executive during the
period that Executive continues in the Company’s health insurance benefit plans or receives company-paid COBRA continuation coverage will be at Executive’s own expense. 

7.    Other Benefits. Executive shall also receive the following: 

(a)    in the event of Executive’s death or Disability, all of Executive’s outstanding Equity Awards will become
fully vested and exercisable; 
 (b)    if Executive’s employment terminates for any reason except Cause, then the
vested portion of Executive’s Equity Awards will be exercisable, as applicable, for three (3) years following such termination, provided no Equity Award may be exercised beyond that award’s expiration date as set forth in the
applicable award agreement or beyond the termination of the award in connection with a Change of Control pursuant to the applicable stock incentive plan; and 

  
 5 

 (c)    the Company shall permit Executive to satisfy all or part of any
Equity Award’s exercise price and applicable tax withholding obligation in either cash or shares subject to the award. 

8.    Mutually Exclusive Benefits. For the avoidance of doubt, the benefits afforded under Section 6 are
mutually exclusive with the benefits afforded under Section 5. If Executive has an Involuntary Termination within three months prior to a Change of Control and becomes entitled to cash severance pursuant to Section 5, but already received
cash severance pursuant to Section 6, the amount of the cash severance payable pursuant to Section 5 shall be offset by the amount already paid, subject to compliance with Section 409A of the Code. 

9.    Accrued Wages and Vacation; Expenses. If Executive’s employment with the Company terminates, without
regard to the reason for, or the timing of, Executive’s termination of employment, then (i) the Company shall pay Executive any unpaid wages due for periods prior to the Termination Date; (ii) the Company shall pay Executive all of
Executive’s accrued and unused vacation through the Termination Date; and (iii) following submission of proper expense reports by Executive, the Company shall reimburse Executive for all expenses reasonably and necessarily incurred by
Executive in connection with the business of the Company prior to the Termination Date. These payments shall be made promptly upon termination and within the period of time mandated by law. 

10.    Limitation on Payments. In the event that the severance and other benefits provided for in this Agreement or
otherwise payable to Executive (i) constitute “parachute payments” within the meaning of Section 280G of the Code and (ii) would be subject to the excise tax imposed by Section 4999 of the Code (the “Excise
Tax”), then Executive’s benefits under this Agreement shall be either: 
 (a)    delivered in full or 

(b)    delivered as to such lesser extent which would result in no portion of such benefits 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 Executive on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code. 

Unless the Company and Executive otherwise agree in writing, any determination required under this Section 10 shall be made in writing by
the Company’s independent public accountants (the “Accountants”), whose determination shall be conclusive and binding upon Executive and the Company for all purposes. For purposes of making the calculations required by this
Section 10, 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. The Company and
Executive shall furnish to the Accountants such information and documents as the Accountants may reasonably 

  
 6 

 
request in order to make a determination under this Section 10. The Company shall bear all costs the Accountants may reasonably incur in connection with any calculations contemplated by this
Section 10. In the event that a reduction is required, the reduction shall be applied first to any benefits that are not subject to Section 409A of the Code, and then shall be applied to benefits (if any) that are subject to
Section 409A of the Code, with the benefits payable latest in time subject to reduction first. 
 11.    Section
409A; Delayed Commencement of Benefits. Notwithstanding any provision to the contrary in this Agreement, no cash severance and no Company-paid health care coverage to which Executive otherwise becomes entitled under this Agreement shall be made
or provided to Executive prior to the earlier of (i) the expiration of the six (6)-month period measured from the Termination Date or (ii) the date of Executive’s death, if Executive is deemed on the Termination Date to be a
“specified employee” within the meaning of that term under Code Section 409A and such delayed commencement is otherwise required in order to avoid a prohibited distribution under Code Section 409A(a)(2). Upon the expiration of
the applicable Code Section 409A(a)(2) deferral period, all payments and benefits deferred pursuant to this Section 11 (whether they would have otherwise been payable in a single sum or in installments in the absence of such deferral)
shall be paid or reimbursed to Executive in a lump sum, and any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates specified for them herein. Executive shall be entitled to
interest on the deferred benefits and payments for the period the commencement of those benefits and payments is delayed by reason of Code Section 409A(a)(2), with such interest to accrue at the prime rate in effect from time to time during
that period and to be paid in a lump sum upon the expiration of the deferral period. Each installment payment under Sections 5 or 6 shall be considered a separate payment for purposes of Code Section 409A. 

12.    Successors. 

(a)    Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase,
lease, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the Company’s obligations under this Agreement and agree expressly to perform the Company’s
obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include
any successor to the Company’s business and/or assets which executes and delivers the assumption agreement described in this subsection (a) or which becomes bound by the terms of this Agreement by operation of law. 

(b)    Executive’s Successors. Without the written consent of the Company, Executive shall not assign or
transfer this Agreement or any right or obligation under this Agreement to any other person or entity. Notwithstanding the foregoing, the terms of this Agreement and all rights of Executive hereunder shall inure to the benefit of, and be enforceable
by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 

  
 7 

 13.    Notices. 

(a)    General. Notices and all other communications contemplated by this Agreement shall be in writing and shall be
deemed to have been duly given when personally delivered or when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the case of Executive, mailed notices shall be addressed to him at the home address which
he most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its Secretary. 

(b)    Notice of Termination. Any termination by the Company for Cause or by Executive as a result of an
Involuntary Termination shall be communicated by a notice of termination to the other party hereto given in accordance with this Section 13. Such notice shall indicate the specific termination provision in this Agreement relied upon, shall set
forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and shall specify the Termination Date (which shall be not more than thirty (30) days after the giving of such
notice). The failure by Executive to include in the notice any fact or circumstance which contributes to a showing of Involuntary Termination shall not waive any right of Executive hereunder or preclude Executive from asserting such fact or
circumstance in enforcing his rights hereunder, subject to the requirements of Section 1(c). 

14.    Arbitration. Any controversy involving the construction or application of any terms, covenants or conditions
of this Agreement, or any claims arising out of any alleged breach of this Agreement, will be governed by the rules of the American Arbitration Association and submitted to and settled by final and binding arbitration in Santa Clara County,
California, except that any alleged breach of Executive’s confidential information obligations shall not be submitted to arbitration and instead the Company may seek all legal and equitable remedies, including without limitation, injunctive
relief. 
 15.    Miscellaneous Provisions. 

(a)    No Duty to Mitigate. Executive shall not be required to mitigate the amount of any payment contemplated by
this Agreement, nor shall any such payment be reduced by any earnings that Executive may receive from any other source. 

(b)    Waiver. No provision of this Agreement may be modified, waived or discharged unless the modification, waiver
or discharge is agreed to in writing and signed by Executive and by an authorized officer of the Company (other than Executive). No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the
other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. 

(c)    Integration. This Agreement supersedes and replaces any prior agreements, representation or understandings,
whether written, oral, express or implied, between Executive and the Company and constitutes the entire agreement and understanding between the parties with respect to the subject matter hereof. 

  
 8 

 (d)    Choice of Law. The validity, interpretation, construction
and performance of this Agreement shall be governed by the internal substantive laws, but not the conflicts of law rules, of the State of California. 

(e)    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. 

(f)    Employment Taxes. All payments made pursuant to this Agreement shall be subject to withholding of applicable
income and employment taxes. 
 (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. 
 * * * 

[SIGNATURE PAGE FOLLOWS] 

  
 9 

 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 first above written. 
  

							
	COMPANY:	 		 	SITIME CORPORATION
				
		 		 	By:	 	
                     
                                         
                                       

		 		 	Name:	 	  

		 		 	Title:	 	  

				
	EXECUTIVE:	 		 		 	
			
		 		 	  

		 		 	Signature
			
		 		 	  

		 		 	Printed Name: Rajesh Vashist
		 		 	Title: Chief Executive Officer

  
 10

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00300-of-00352.parquet"}]]