Document:

amba-ex101_195.htm

Exhibit 10.1

 

CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD BE COMPETITIVELY HARMFUL IF PUBLICLY DISCLOSED, AND THE EXCLUDED TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH AN ASTERISK [*].

 

 

 

Amendment to Sales Representative Agreement

 

(June 1, 2019)

 

This Amendment to the Sales Representative Agreement (the “Amendment”) is made and entered into by and between Ambarella, Inc., a Cayman Island corporation having its registered offices located at PO Box 309GT, Ugland House, South Church Street, George Town, Grand Cayman, Cayman Islands (“Company”), and WT Microelectronics Co., Ltd., a Taiwanese corporation, having its principal place of business at 14F, No. 738, Chung Cheng Road, Chung Ho City, Taipei Hsien, Taiwan, R.O.C., and its subsidiaries and affiliates (collectively referred to as “Representative”).  

WHEREAS, Ambarella and Representative entered into a Sales Representative Agreement, effective as of January 31, 2011, as amended (the “Agreement”), and wish to amend the Agreement as set forth below.

NOW, THEREFORE, in consideration of the terms and conditions set forth in this Amendment, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree that the Agreement is hereby amended as follows:

	
 
	
1.
	
Unless otherwise defined herein, all capitalized terms set forth herein shall have the same meanings attributed to such terms in the Agreement.

 

	
 
	
2.
	
This Amendment shall be effective as of June 1, 2019 (“Amendment Effective Date”) and expire or terminate upon the expiration or termination of the Agreement. 

 

	
 
	
3.
	
Extension of Term.  With effect from October 1, 2019, and subject to the provisions of Section 14 of the Agreement, the term of the Agreement shall be extended to and including September 30, 2022 (the “Term”). If the parties continue to perform under the Agreement after the expiration of the foregoing Term, the Agreement will then automatically renew for successive fixed terms of twelve (12) months each unless terminated by written notice at least sixty (60) days prior to each consecutive anniversary date hereof.

 

	
 
	
4.
	
Stock Rotation Rights.  Effective as of the Amendment Effective Date, the following stock rotation/return rights shall be deemed to be incorporated into the Agreement: 

“Stock Rotation/Return Rights. Representative may return a quantity of Products to COMPANY for credit once every [*] months, provided that: 

	
 
	
i.
	
the total credit shall not exceed [*] during each [*] period of this Agreement (without rollover of any unused rotation balance and beginning as of the Amendment Effective Date);
	
 

 

 

	
 
	
ii.
	
the Products to be returned are limited to standard Products (non-standard products ordered by Representative for its customers are not returnable);
	
 

	
 
	
iii.
	
Products to be returned have been in Representative’s inventory for a period of at least ninety (90) days;
	
 

	
 
	
iv.
	
the date code of Product to be returned shall be less than two (2) years from the date of return for such Products;
	
 

	
 
	
v.
	
Representative doesn’t have current backlog orders with COMPANY for such Products;
	
 

	
 
	
vi.
	
freight for the returned Products is paid by Representative and the risk of carriage is borne by Representative; and
	
 

	
 
	
vii.
	
Representative places a corresponding purchase order (or multiple purchase orders) with COMPANY for other Products during the same month in which the return is made that is/are equal to or greater than the total dollar value of Products to be returned; and the Products ordered in the corresponding purchase order (or orders) are delivered during the same COMPANY fiscal quarter that COMPANY receives the returned Products.
	
 

Such returns may be made at Representative’s discretion in one shipment during the applicable six-month period or within thirty (30) days thereafter. The credit to be issued in respect of each such Product returned shall be issued by COMPANY within forty-five (45) calendar days after receipt of such Product by COMPANY and shall be issued in the amount of the actual net invoice price charged for same by COMPANY to Representative less any prior credits granted by COMPANY to Representative for the said Product. All Products that are returned in accordance with the provision must be unused in commerce (including board level products such as evaluation and development platforms), in factory shipped condition and in the original vacuum pack.”

 

	
 
	
5.
	
Except as otherwise provided in this Amendment, all terms and conditions of the Agreement shall remain in full force and effect.  To the extent this Amendment conflicts with the Agreement, the terms and conditions of this Amendment shall control.

(remainder of page intentionally left blank; signature page to follow)

 

 

 

IN WITNESS WHEREOF, the parties have executed this Amendment through their duly authorized representatives as set forth below:

DULY EXECUTED:

	
Signed for and on behalf of 
	
Signed for and on behalf of 

	
Ambarella
	
WT Microelectronics Co., Ltd.

	
Signed:        /s/ Feng-Ming Wang
	
Signed:      /s/ Eric Cheng 

	
Printed Name: Feng-Ming Wang 
	
Printed Name: Eric Cheng

	
Title: President & CEO
	
Title: Chairman & CEO

	
Date:  July 23, 2019
	
Date: July 3, 2019Exhibit

        

DIRECTOR RESTRICTED STOCK UNIT AWARD AGREEMENT

Penn Virginia Corporation
2019 Management Incentive Plan

This Director Restricted Stock Unit Award Agreement (this “Agreement”) is made as of the ____ day of _________, 20__ (the “Grant Date”) between Penn Virginia Corporation (the “Company”) and [●] (“Participant”), and is made pursuant to the terms of the Penn Virginia Corporation 2019 Management Incentive Plan (the “Plan”).  Any capitalized term used herein but not defined shall have the meaning set forth in the Plan.  

Section 1.    Grant of Restricted Stock Units.  The Company hereby grants to Participant, on the terms and conditions hereinafter set forth, a Restricted Stock Unit Award consisting of [●] restricted stock units (“Restricted Stock Units”), subject to the terms and conditions set forth in this Agreement and the Plan.  Subject to the terms and conditions set forth in this Agreement and the Plan, each Restricted Stock Unit represents the right to receive one share of Common Stock.

Section 2.    Vesting of the Restricted Stock Units.

(a)Generally.    Except as otherwise provided herein, the Restricted Stock Units will vest on [the first anniversary of the Grant Date][______, 20__], subject to Participant’s continuous Service with the Company through the vesting date.

(b)Change in Control. Upon the occurrence of a Change in Control that also constitutes a “change in control event” under Section 409A of the Code, all Restricted Stock Units shall immediately vest, subject to Participant’s continuous Service with the Company through the date of such Change in Control.

Section 3.    Termination of Service. Upon the occurrence of a Qualified Termination, all of the Restricted Stock Units shall immediately vest. For purposes of this Agreement, a “Qualified Termination” means Participant’s status as a member of the Board terminates (and such termination is a “separation from service” under Section 409A of the Code) due to his (i) death, (ii) disability (as determined by the Board) or (iii) removal as, or not being re-elected or re-appointed as, a member by the Company’s stockholders or by the Board, as applicable, and such removal or failure to re-elect or re-appoint shall not have been as a result of, caused by, or related to, Participant’s termination due to Cause or resignation or unwillingness to serve, for whatever reason, as a member of the Board.  Upon any other termination of Participant’s Service, all unvested Restricted Stock Units shall be forfeited and cancelled and Participant shall not be entitled to any compensation or other amount with respect thereto.

Section 4.    Settlement.  Any Restricted Stock Units that become vested and non-forfeitable pursuant to Section 2 or Section 3 (“Vested RSUs”) shall be settled on or as soon as administratively practicable after the applicable vesting date.  Vested RSUs will be settled, unless otherwise determined by the Committee, by the Company through the delivery to the Participant of a number of shares of Common Stock equal to the number of Vested RSUs. No fractional shares of Common Stock shall be issued, and the value of any such fractional share shall be paid to Participant in cash at Fair Market Value. 
Section 5.    Restrictions on Transfer.  Except as permitted under Section 11 of the Plan, no Restricted Stock Units may be transferred, pledged, assigned, hypothecated or otherwise disposed of in any way by Participant, except by will or by the laws of descent and distribution. In the event that Participant becomes legally incapacitated, Participant’s rights with respect to the Restricted Stock Units shall be exercisable by Participant’s legal guardian or legal representative.  The Restricted Stock Units shall not be subject to execution, attachment or similar process. Any attempted assignment, transfer, pledge, hypothecation or other disposition of the Restricted Stock Units contrary to the provisions hereof, and the levy of any execution, attachment or similar process upon any Restricted Stock Units, shall be null and void and without effect. Notwithstanding the foregoing and in all instances subject to compliance with any applicable spousal consent requirements and all other applicable laws, Participant may make transfers of Restricted Stock Units to (i) the Participant’s spouse, children or grandchildren (including any adopted and step children or grandchildren), parents, grandparents or siblings  or to a trust, the sole beneficiaries of which are Participant or such family members, in each case with the prior written consent of the Committee and solely for estate planning purposes, or (ii) with written notification to the Committee, a partnership, limited liability company or corporation in which the Participant or a family member listed in Section 5(i) are the only partners, members or shareholders.  

Section 6.    Investment Representation.  Upon any acquisition of the shares of Common Stock underlying the Restricted Stock Units at a time when there is not in effect a registration statement under the Securities Act relating to the shares of Common Stock, Participant hereby represents and warrants, and by virtue of such acquisition shall be deemed to represent and warrant, to the Company that such shares of Common Stock shall be acquired for investment and not with a view to the distribution thereof, and not with any present intention of distributing the same, and Participant shall provide the Company with such further representations and warranties as the Company may reasonably require in order to ensure compliance with applicable federal and state securities, blue sky and other laws.  No shares of Common Stock underlying the Restricted Stock Units shall be acquired unless and until the Company and/or Participant have complied with all applicable federal or state registration, listing and/or qualification requirements and all other requirements of law or of any regulatory agencies having jurisdiction, unless the Committee reasonably determines that Participant may acquire such shares of Common Stock pursuant to an exemption from registration under the applicable securities laws.
Section 7.    Adjustments.  The Restricted Stock Units granted hereunder shall be subject to the provisions of Section 4.2 of the Plan.
Section 8.    No Right of Continued Service.  Nothing in the Plan or this Agreement shall confer upon Participant any right to continued Service with the Company or any Affiliate.
Section 9.    Limitation of Rights; Dividend Equivalents.  Participant shall not have any privileges of a stockholder of the Company with respect to any Restricted Stock Units, including, without limitation, any right to vote any shares of Common Stock underlying such Restricted Stock Units or to receive dividends or other distributions or payments of any kind in respect thereof or exercise any other right of a holder of any such securities, unless and until there is a date of settlement and issuance to Participant of the underlying shares of Common Stock.  Notwithstanding the foregoing, the Restricted Stock Unit Award granted hereunder is hereby granted in tandem with corresponding dividend equivalents with respect to each share of Common Stock underlying the Restricted Stock Unit Award granted hereunder (each, a “Dividend Equivalent”), which Dividend Equivalent shall remain outstanding from the Grant Date until the earlier of the settlement or forfeiture of the Restricted Stock Unit to which it corresponds.  Participant shall be entitled to accrue payments equal to dividends declared, if any, on the Common Stock underlying the Restricted Stock Unit to which such Dividend Equivalent relates, payable in cash and subject to the vesting of the Restricted Stock Unit to which it relates, at the time the Common Stock underlying the Restricted Stock Unit is settled and delivered to Participant pursuant to Section 4; provided, however, if any dividends or distributions are paid in shares of Common Stock, the shares of Common Stock shall be deposited with the Company, shall be deemed to be part of the Dividend Equivalent, and shall be subject to the same vesting requirements, restrictions on transferability and forfeitability as the Restricted Stock Units to which they correspond.  Dividend Equivalents shall not entitle Participant to any payments relating to dividends declared after the earlier to occur of the settlement or forfeiture of the Restricted Stock Units underlying such Dividend Equivalents.
Section 10.    Construction.  The Restricted Stock Unit Award granted hereunder is granted pursuant to the Plan and is in all respects subject to the terms and conditions of the Plan.  Participant hereby acknowledges that a copy of the Plan has been delivered to Participant and accepts the Restricted Stock Unit Award hereunder subject to all terms and provisions of the Plan, which are incorporated herein by reference.  In the event of a conflict or ambiguity between any term or provision contained herein and a term or provision of the Plan, the Plan will govern and prevail.  The construction of and decisions under the Plan and this Agreement are vested in the Board, whose determinations shall be final, conclusive and binding upon Participant.
Section 11.    Notices.  Any notice hereunder by Participant shall be given to the Company in writing and such notice shall be deemed duly given only upon receipt thereof by the General Counsel of the Company at the Company’s principal executive offices.  Any notice hereunder by the Company shall be given to Participant in writing at the most recent address as Participant may have on file with the Company.
Section 12.    Governing Law.  This Agreement shall be construed and enforced in accordance with, the laws of the Commonwealth of Virginia, without giving effect to the choice of law principles thereof.
Section 13.    Counterparts.  This Agreement may be executed in counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.
Section 14.    Binding Effect.  This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators, successors and assigns.
Section 15.    Section 409A.  This Agreement is intended to comply with Section 409A of the Code (“Section 409A”) or an exemption thereunder and shall be construed and administered in accordance with Section 409A.  Notwithstanding any other provision of the Plan or this Agreement, payments provided under this Agreement may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption.  Any payments under this Agreement that may be excluded from Section 409A shall be excluded from Section 409A to the maximum extent possible.  The Restricted Stock Units granted hereunder shall be subject to the provisions of Section 13.3 of the Plan.  Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A, and in no event shall the Company or any of its Subsidiaries or Affiliates be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by Participant on account of non-compliance with Section 409A or otherwise. 
Section 16.    Entire Agreement.  Participant acknowledges and agrees that this Agreement and the Plan constitute the entire agreement between the parties with respect to the subject matter hereof and thereof, superseding any and all prior agreements whether verbal or otherwise, between the parties with respect to such subject matter.  
Section 17.    Clawback.  The Restricted Stock Unit Award will be subject to recoupment in accordance with any clawback or recoupment policy of the Company, including without limitation, any clawback or recoupment policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law.  

IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the date first above written.

PENN VIRGINIA CORPORATION

By:    
Name:    
Title:    

PARTICIPANT

    
Name:    
Date:    

Active 29178583.9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}]]