Document:

Document

Exhibit 10.1 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS NOT MATERIAL AND WOULD LIKLEY CAUSE COMPETITIVE HARM TO EAGLE PHARMACEUTICALS, INC. IF PUBLICLY DISCLOSED.

July 31, 2020

Dr. Adrian Hepner
[***]

Dear Adrian:

This letter agreement (this “Agreement”) sets forth the terms and conditions whereby you agree to provide certain services (as described on Schedule 1) to Eagle Pharmaceuticals, Inc., a Delaware Corporation, with offices located at 50 Tice Boulevard, Suite 315, Woodcliff Lake, New Jersey 07677 (the “Company”).
1.Services
a.The Company hereby engages you, and you hereby accept such engagement, as an independent contractor to provide certain services to the Company on the terms and conditions set forth in this Agreement.
b.You shall provide to the Company the services set forth on Schedule 1 (the “Services”).
c.The Company shall not control the manner or means by which you perform the Services, including but not limited to the time and place you perform the Services.
d.To the extent you perform any Services on the Company's premises or using the Company's equipment, you shall comply with all applicable policies of the Company relating to business and office conduct, health and safety and use of the Company's facilities, supplies, information technology, equipment, networks and other resources.

Updated 12-14/2018

1.Term
1.Term
The term of this Agreement shall commence on August 1, 2020 and shall continue until July 31, 2021, unless earlier terminated in accordance with section 10 (the “Termination”). Any extension of the term will be subject to mutual written agreement between the parties.
1.Compensation and Expenses
a.As full compensation for the Services and the rights granted to the Company in this Agreement, the Company shall pay you $8,000 per week for the first semester of the Term and $4,000 per week for the second semester (the “Fees”). It is anticipated that you will work 20 hours per week during the first semester and 10 hours per week during the second.  The Fees will be paid to you bi-weekly. You acknowledge that you will receive an IRS Form 1099-MISC from the Company, and that you shall be solely responsible for all federal, state and local taxes, as set out in section 4.2.
b.In addition to the Fees, Company shall continue to pay the employer portion of your COBRA medical continuation benefits for eighteen months.   
c.The Company agrees to reimburse you all reasonable and documented travel and other costs or expenses incurred or paid by you in connection with the performance of the Services in accordance with the general reimbursement policy of the Company then in effect, and in each case that have been approved in writing by David Pernock.  The Company shall pay all undisputed Fees within 15 days after the Company's receipt of an invoice submitted by you. 
2.Relationship of the Parties
a.You are an independent contractor of the Company, and this Agreement shall not be construed to create any association, partnership, joint venture, employee or agency relationship between you and the Company for any purpose. You have no authority (and shall not hold yourself out as having authority) to bind the Company and you shall not make any agreements or representations on the Company's behalf without the Company's prior written consent.
b.Without limiting section 4.1, the Company will not be responsible for withholding or paying any income, payroll, Social Security or other federal, state or local taxes, and , except as otherwise specified herein, making any insurance contributions, including unemployment or disability, or obtaining worker's compensation insurance on your behalf. 
3.Intellectual Property Rights
a.The Company is and shall be, the sole and exclusive owner of all right, title and interest throughout the world in and to all the results and proceeds of the Services performed under this Agreement, including but not limited to any deliverables set out on Schedule 1 (collectively, the “Deliverables”), including all patents, copyrights, trademarks, trade secrets and other intellectual property rights (collectively “Intellectual Property Rights”) therein. You agree that the Deliverables are hereby deemed a "work made for hire" as defined in 17 U.S.C. § 101 for the Company. If, for any reason, any of the Deliverables do not constitute a "work made for hire," you hereby irrevocably assign to the Company, in each case without additional consideration, all right, title and interest throughout the world in and to the Deliverables, including all Intellectual Property Rights therein.
b.Any assignment of copyrights under this Agreement includes all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as "moral rights" (collectively, “Moral Rights”). You hereby irrevocably waive, to the extent permitted by applicable law, any and all claims you may now or hereafter have in any jurisdiction to any Moral Rights with respect to the Deliverables.
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c.You shall make full and prompt disclosure to the Company of any inventions or processes, as such terms are defined in 35 U.S.C. § 100 (the “Patent Act”), made or conceived by you alone or with others during the Term, whether or not such inventions or processes are patentable or protected as trade secrets and whether or not such inventions or processes are made or conceived during normal working hours or on the premises of the Company. You shall not disclose to any third party the nature or details of any such inventions or processes without the prior written consent of the Company.
d.Upon the request of the Company, you shall promptly take such further actions, including execution and delivery of all appropriate instruments of conveyance, as may be necessary to assist the Company to prosecute, register, perfect, record or enforce its rights in any Deliverables. In the event the Company is unable, after reasonable effort, to obtain your signature on any such documents, you hereby irrevocably designate and appoint the Company as your agent and attorney-in-fact, to act for and on your behalf solely to execute and file any such application or other document and do all other lawfully permitted acts to further the prosecution and issuance of patents, copyrights or other intellectual property protected related to the Deliverables with the same legal force and effect as if you had executed them. You agree that this power of attorney is coupled with an interest.
e.Notwithstanding section 5.1, to the extent that any of your pre-existing materials identified in Schedule 1 are contained in the Deliverables, you retain ownership of such pre-existing materials and hereby grant to the Company an irrevocable, worldwide, unlimited, royalty-free license to use, publish, reproduce, display, distribute copies of, and prepare derivative works based upon, such pre-existing materials and derivative works thereof. The Company may assign, transfer and sublicense such rights to others without your approval.
f.Except for such pre-existing materials, you have no right or license to use, publish, reproduce, prepare derivative works based upon, distribute, perform, or display any Deliverables. You have no right or license to use the Company's trademarks, service marks, trade names, trade names, logos, symbols or brand names.
g.You shall require each of your employees and contractors to execute written agreements securing for the Company the rights provided for in this section 5 prior to such employee or contractor providing any Services under this Agreement.
4.Confidentiality
a.You acknowledge that you will have access to information that is treated as confidential and proprietary by the Company, including, without limitation, the existence and terms of this Agreement, trade secrets, technology, and information pertaining to business operations and strategies, customers, pricing, marketing, finances, sourcing, personnel, or operations of the Company, its affiliates or their suppliers or customers, in each case whether spoken, written, printed, electronic or in any other form or medium (collectively, the “Confidential Information”). Any Confidential Information that you develop in connection with the Services, including but not limited to any Deliverables, shall be subject to the terms and conditions of this section. You agree to treat all Confidential Information as strictly confidential, not to disclose Confidential Information or permit it to be disclosed, in whole or part, to any third party without the prior written consent of the Company in each instance, and not to use any Confidential Information for any purpose except as required in the performance of the Services. You shall notify the Company immediately in the event you become aware of any loss or disclosure of any Confidential Information.
b.Confidential Information shall not include information that:
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i.is or becomes generally available to the public other than through your breach of this Agreement; or
ii.is communicated to you by a third party that had no confidentiality obligations with respect to such information.
c.Nothing herein shall be construed to prevent disclosure of Confidential Information as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation or order. You agree to provide written notice of any such order to an authorized officer of the Company within three (3) business days of receiving such order, but in any event sufficiently in advance of making any disclosure to permit the Company to contest the order or seek confidentiality protections, as determined in the Company's sole discretion.
5.Representations and Warranties
a.You represent and warrant to the Company that:
i.you have the right to enter into this Agreement, to grant the rights granted herein and to perform fully all of your obligations in this Agreement;
ii.your entering into this Agreement with the Company and your performance of the Services do not and will not conflict with or result in any breach or default under any other agreement to which you are subject;
iii.you have the required skill, experience and qualifications to perform the Services, you shall perform the Services in a professional and workmanlike manner in accordance with generally recognized industry standards for similar services and you shall devote sufficient resources to ensure that the Services are performed in a timely and reliable manner;
iv.you shall perform the Services in compliance with all applicable federal, state and local laws and regulations;
v.you have not been: (i) debarred under subsections (a) or (b) of Section 306 of the Federal Food, Drug and Cosmetic Act, as amended, 21 U.S.C. Section 335a(a) and (b) (the “FD&C Act”), (ii) excluded, debarred, suspended or otherwise ineligible to participate in federal health care programs or in federal procurement or non-procurement programs (as that term is defined in 42 U.S.C. 1320a-7b(f)) or convicted of a criminal offense related to the  provision of health care items or services, but has not yet been debarred.  Moreover, if you are subsequently so debarred or excluded, you agree to immediately notify Company of such debarment or exclusion as provided in Section 14.2 herein, and this Agreement shall terminate as of the date of such debarment or exclusion.  

i.You do not and will not use in any capacity the services of any person debarred under the FD&C Act in connection with its performance of this Agreement.  You shall select and shall have full and complete control of and responsibility for all actions of your agents, affiliates, officers, directors, employees and permitted subcontractors, if any, (collectively, “Your Agents”) and none of Your Agents shall be, or shall be deemed to be, the agents, affiliates, officers, directors, employees or subcontractors of Company for any purpose whatsoever by virtue of this Agreement.  Company shall have no duty, liability or responsibility of any kind, to or for your acts or omissions or those of Your Agents.  You hereby acknowledge and agree that you shall cause 
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each of Your Agents who participate in rendering the Services provided hereunder to comply with the terms of this Agreement.  

i.the Company will receive good and valid title to all Deliverables, free and clear of all encumbrances and liens of any kind;
ii.all Deliverables are and shall be your original work (except for material in the public domain or provided by the Company) and, to the best of your knowledge, do not and will not violate or infringe upon the intellectual property right or any other right whatsoever of any person, firm, corporation or other entity.
iii.You will disclose this relationship with Eagle, as established by this Agreement, to all people and entities to whom you owe such disclosure.  You will also obtain any required permissions.  With regard to any formulary committee on which you sit, this disclosure obligation shall continue for two years after the termination of this Agreement.
b.The Company hereby represents and warrants to you that:
i.it has the full right, power and authority to enter into this Agreement and to perform its obligations hereunder; and
ii.the execution of this Agreement by its representative whose signature is set forth at the end hereof has been duly authorized by all necessary corporate action.
6.Indemnification
a.Company shall defend, indemnify and hold you harmless against all losses, damages, liabilities, deficiencies, actions, judgments, interest, awards, penalties, fines, costs or expenses of whatever kind (including reasonable attorneys' fees) arising out of or resulting from any losses you may incur as a result of providing the Service hereunder:
7.Intentionally Left Blank

1.Termination
a.The Company or you may terminate this Agreement without cause and upon 15 days' written notice. In the event of termination pursuant to this section 10.1, the Company shall pay you for fees earned for any Services completed up to and including the date of such termination.
b.The Company may terminate this Agreement, effective immediately upon written notice to you, in the event that you materially breach this Agreement, and such breach is incapable of cure, or with respect to a material breach capable of cure, you do not cure such breach within ten (10) days after receipt of written notice of such breach.
c.Upon expiration or termination of this Agreement for any reason, or at any other time upon the Company's written request, you shall within five (5) days after such expiration or termination:
i.deliver to the Company all Deliverables (whether complete or incomplete) and all hardware, software, tools, equipment or other materials provided for your use by the Company;
ii.deliver to the Company all tangible documents and materials (and any copies) containing, reflecting, incorporating or based on the Confidential Information;
iii.permanently erase all of the Confidential Information from your computer systems; and
iv.certify in writing to the Company that you have complied with the requirements of this section.
d.The terms and conditions of this section and section 4, section 5, section 6, section 7, section 8, section 10.3, section 12, section 13 and section 14 shall survive the expiration or termination of this Agreement.
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2.Other Business Activities
You may be engaged or employed in any other business, trade, profession or other activity which does not place you in a conflict of interest with the Company.
1.Non-Solicitation
Each party agrees that during the Term of this Agreement and for a period of six months following the termination or expiration of this Agreement, it shall not make any solicitation to employ the other party's personnel without written consent of the other party to be given or withheld in its sole discretion. For the purposes of this section 12, a general advertisement or notice of a job listing or opening or other similar general publication of a job search or availability to fill employment positions, including on the internet, shall not be construed as a solicitation or inducement, and the hiring of any such employee or independent contractor who freely responds thereto shall not be a breach of this section 12.
1.Assignment
You shall not assign any rights, or delegate or subcontract any obligations, under this Agreement without the Company's prior written consent. Any assignment in violation of the foregoing shall be deemed null and void. The Company may freely assign its rights and obligations under this Agreement at any time. Subject to the limits on assignment stated above, this Agreement will inure to the benefit of, be binding on, and be enforceable against each of the parties hereto and their respective successors and assigns.
1.Miscellaneous
a.The compensation paid hereunder has been established through good faith and arms-length bargaining and represents the fair market value of the services rendered.  No amount paid or reimbursed hereunder is intended to be, nor shall it be construed as, an offer or payment made, whether directly or indirectly, to induce the referral of patients, the purchase, lease or order of any item or service, or the recommending or arranging for the purchase, lease or order of any item or service.
b.You shall not export, directly or indirectly, any technical data acquired from the Company, or any products utilizing any such data, to any country in violation of any applicable export laws or regulations.
c.All notices, requests, consents, claims, demands, waivers and other communications hereunder (each, a “Notice”) shall be in writing and addressed to the parties at the addresses set forth on the first page of this Agreement (or to such other address that may be designated by the receiving party from time to time in accordance with this section). All Notices shall be delivered by personal delivery, nationally recognized overnight courier (with all fees pre-paid), facsimile or e-mail of a PDF document (with confirmation of transmission) or certified or registered mail (in each case, return receipt requested, postage prepaid). Except as otherwise provided in this Agreement, a Notice is effective only if (a) the receiving party has received the Notice and (b) the party giving the Notice has complied with the requirements of this section.
d.This Agreement, together with any other documents incorporated herein by reference, including, and related exhibits and schedules, constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral, with respect to such subject matter.
e.This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto, and any of the terms thereof may be waived, only by a written document signed by each party to this Agreement or, in the case of waiver, by the party or parties waiving compliance.
f.This Agreement shall be governed by and construed in accordance with the internal laws of the State of New Jersey without giving effect to any choice or conflict of law provision or rule. Each party irrevocably submits to the 
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exclusive jurisdiction and venue of the federal and state courts located in the State of New Jersey in any legal suit, action or proceeding arising out of or based upon this Agreement or the Services provided hereunder.
g.If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction.
h.This Agreement may be executed in multiple counterparts and by facsimile signature, each of which shall be deemed an original and all of which together shall constitute one instrument.
2.You acknowledge and agree that (i) eagle may have an obligation to report certain details relating to this agreement, including, without limitation, the fee paid to you by eagle under the federal sunshine act and similar state laws and that (ii) eagle will report such details in its sole discretion.

Very truly yours,

EAGLE PHARMACEUTICALS, INC.

By:        /s/ Pete Meyers                        
Name:   Pete Meyers
Title:     Chief Financial Officer of Eagle Pharmaceuticals, Inc.

ACCEPTED AND AGREED:

By:       /s/ Adrian Hepner                     
Name:  Adrian Hepner
Date:    July 31, 2020

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SCHEDULE 1
 
1. SERVICES: 

1. SERVICES: 

Fulvestrant.  
Assistance with the meeting request 
[***] 
Briefing package assistance 

Vasopressin
[***] 

Nerve Agent
SPA request 

Other 

UPenn  transition

North shore transition 

[***] 

EA 111 assistance with interpretation of mid August data 

Transition relationship with military  

2.        EQUIPMENT, TOOLS OR MATERIALS PROVIDED BY COMPANY:   Company-issued laptop computer and smartphone.

3.        PAYMENT SCHEDULE:  Upon completion and in accordance with Section 3 above.

4.        DELIVERABLES:  Consulting services as described in Section 1 above.

2Exhibit 10.1

  

   

  

  
    TRANSITION AGREEMENT

     

    This Transition Agreement (this “Agreement”) is entered into by and between Cirrus Logic, Inc., a Delaware corporation (the “Company”),

      and Jason P. Rhode (“Executive”).  Executive and the Company are sometimes referred to herein individually as a “Party” and collectively as the “Parties.”

     

    WHEREAS, the Parties desire that Executive begin preparing for an orderly transition of his duties and responsibilities as the Company’s
      Chief Executive Officer.

     

    WHEREAS, the Parties desire that, effective as of January 1, 2021 (the “Transition Commencement Date”), Executive will transition from the Company’s Chief Executive Officer to an Executive Fellow of the Company and will transition off the Company’s
      Board of Directors.

     

    WHEREAS, the Parties desire that in addition to his role as an Executive Fellow of the Company, Executive will provide transition
      services to the Company through January 1, 2022 (the “Transition Completion Date”).

     

    NOW, THEREFORE, in consideration of the promises and benefits set forth herein, and for other good and valuable consideration, the
      receipt and sufficiency of which are hereby acknowledged by Executive and the Company, the Parties agree as follows:

     

    1.             Compensation; Transition Services. 

     

    (a)            From the Transition Commencement Date until and including the Transition Completion Date (the “Transition Period”), Executive’s annual base salary rate shall be reduced to $300,000 per year, less applicable taxes and withholdings, payable with the regular payroll practices of the Company in
        effect from time to time.

     

    (b)            From the date of this Agreement until the earlier of (i) the termination of Executive’s employment and (ii) the Transition Completion Date, Executive shall be entitled to
        participate in all employee benefit plans, practices, policies and programs maintained by the Company, as in effect from time to time (collectively, “Employee Benefit Plans”), on a basis which is no less favorable than is provided to other similarly situated executives of the Company, to the extent consistent with applicable law and the terms of the applicable
        Employee Benefit Plans. For purposes of clarity, the Employee Benefit Plans shall include, without limitation, the Company’s vacation and paid time-off policies both during Executive’s employment and as applicable to accrued payouts upon a
        separation from service with the Company.

     

    (c)            Executive hereby resigns as the Company’s Chief Executive Officer, as a member of the Company’s Board of Directors, and as an officer, manager or member of the board of directors
        of, and any similar position with, the Company Parties, in each case effective as of the Transition Commencement Date.

     

    
      
        

    

    
     

    

    (d)            From the date of this Agreement until the Transition Commencement Date, Executive shall be an at-will employee of the Company and will continue to serve as the Company’s Chief
        Executive Officer.  During the Transition Period, Executive shall be an at-will employee of the Company and serve as an Executive Fellow and will report to the Company’s Chief Executive Officer. In such role, Executive will provide transition and
        other related services as requested by the Chief Executive Officer of the Company and the Company’s Board of Directors. Executive shall assist the Company in transitioning his duties and knowledge regarding the business and operations of the
        Company or any other Company Party (as defined below) to the Company’s Chief Executive Officer or, at the request of the Company’s Chief Executive Officer, to any other Company employee.

     

    (e)  During the Transition Period, Executive shall not be entitled to any grants under
        the Company’s 2018 Long Term Incentive Plan (the “LTI Plan”). Notwithstanding the foregoing, all equity-based awards previously
        granted to Executive under the LTI Plan will continue to vest during the Transition Period pursuant to the terms of the LTI Plan and all applicable individual award agreements.

     

    (f)            Executive acknowledges that he is aware of the ongoing obligations he may have under the Company’s Insider Trading and Confidentiality Policy, applicable securities laws and any
        other applicable requirements related to any trading in the Company’s securities, and that Executive’s obligations survive the termination of Executive’s employment with the Company.

     

    (g)            Executive acknowledges that he is aware of the ongoing obligations he may have under the Company’s Policy regarding Recoupment of Certain Incentive Compensation, and that
        Executive’s obligations survive the termination of Executive’s employment with the Company.

     

    2.             Transition Benefits.  Provided that Executive (w) executes this Agreement and returns a signed copy of it to the Company, care of Scott Thomas
        (Scott.Thomas@cirrus.com), so that it is received no later than the date that is twenty-one (21) days after Executive receives this Agreement and it is not subsequently revoked by Executive in accordance with Section 5, (x) returns to the Company,
        in accordance with Section 20, a copy of the Confirming Release that has been signed by Executive by the earlier of (i) the termination of Executive’s employment with the Company and (ii) the Transition Completion Date and it is not subsequently
        revoked by Executive in accordance with Section 7 of the Confirming Release, (y) complies with or remains in compliance with all Company policies applicable to similarly situated Company employees, and (z) satisfies the other terms and conditions
        set forth in this Agreement, Executive shall receive the following consideration:

     

    (a)            Capitalized terms used in this Section 2(a) but not defined in this Agreement shall have the meaning given them in the terms in the Company’s Executive Severance and Change and
        Control Plan as amended and restated as of April 1, 2018 (the “Severance Plan”).

     

    (i)            If Executive has provided continual services pursuant to this Agreement throughout the Transition Period, then on the Transition Completion Date, any portion of Executive’s Awards
        (as defined in the LTI Plan) that were scheduled or would become eligible to vest during the twelve (12) month period immediately following the Transition Completion Date shall fully vest automatically without any further action by the Company or
        Executive. With respect to any Awards referenced in the previous sentence that are subject to performance-based vesting conditions, performance will be calculated based upon
          the actual performance of such Award (i.e., relative total shareholder return) as of the date of the Transition
        Completion Date, calculated in accordance with the terms and conditions of the LTI Plan and any individual Award agreements governing such Award.

     

    
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    (ii)            Upon Executive’s termination without Cause or Executive’s resignation following a Change of Control, Executive shall receive the benefits provided in Section 3(b) of the Severance
        Plan, and any portion of Executive’s Awards (as defined in the LTI Plan) that were scheduled or would become eligible to vest had Executive remained employed with the Company until the Transition Completion Date as set forth in Section 2.(a)(i),
        shall fully vest automatically without any further action by the Company or Executive as if Executive had remained employed with the Company until the Transaction Completion Date. With respect to any Awards referenced in the previous sentence that are subject to performance-based vesting conditions, performance will be calculated based upon the actual performance of such Award (i.e., relative total shareholder return) as of the date of the applicable termination, calculated in accordance with the
          terms and conditions of the LTI Plan and any individual Award agreements governing such Award.

     

    (iii)            Until the earlier of (i) the termination of Executive’s employment with the Company and (ii) the Transition Completion Date, Executive shall be eligible to receive the benefits,
        if any, provided under the Severance Plan for an Eligible Employee that is not the Chief Executive Officer.

     

    (b)            Capitalized terms used in this Section 2(b) but not defined in this Agreement shall have the meaning given them in the Company’s 2007 Management and Key Individual Contributor
        Incentive Plan, as amended (the “Bonus Plan”).  During the Transition Period, Executive remains eligible to participate in the
        Bonus Plan.  If Executive receives an Individual Incentive Payment under the Bonus Plan for the second Plan Cycle of the Company’s 2021 fiscal
        year, the Executive’s Target Incentive Amount under the Bonus Plan shall be adjusted to use (1) the Executive’s Chief Executive Officer Base Salary and Target Incentive Factor for the portion of the second Plan Cycle during which Executive served
        as the Company’s Chief Executive Officer, plus (2) the Executive’s Executive Fellow Base Salary and Target Incentive Factor for the portion of the second Plan Cycle during which Executive served as an Executive Fellow.

     

    Executive acknowledges and agrees that the consideration described in this Section 2 represents the entirety of the amounts Executive is
      eligible to receive as potential severance pay from the Company or any other Company Party, including under the LTI Plan and the Severance Plan.

     

    
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    3.             Complete
            Release of Claims.

     

    (a)            In exchange for the consideration received by Executive herein, which consideration Executive was not entitled to but for Executive’s entry into this Agreement and the Confirming
        Release, Executive hereby releases, discharges and forever acquits the Company and its Affiliates (as defined below) and subsidiaries, and each of the foregoing entities’ respective past, present and future members, partners (including general
        partners and limited partners), directors, trustees, officers, managers, employees, agents, attorneys, heirs, legal representatives, insurers, benefit plans (and their fiduciaries, administrators and trustees), and the successors and assigns of the
        foregoing, in their personal and representative capacities (each a “Company Party” and collectively, the “Company Parties”), from liability for, and hereby waives, any and all claims, damages, or causes of action of any kind related to
        Executive’s ownership of any interest in any Company Party, Executive’s employment with any Company Party, the termination of such employment, and any other acts or omissions related to any matter occurring on or prior to the date that Executive
        executes this Agreement, including (i) any alleged violation through such date of: (A) any federal, state or local anti-discrimination law or anti-retaliation law, regulation or ordinance including Title VII of the Civil Rights Act of 1964, as
        amended, the Civil Rights Act of 1991, Sections 1981 through 1988 of Title 42 of the United States Code, as amended and the Americans with Disabilities Act of 1990, as amended; (B) the Employee Retirement Income Security Act of 1974, as amended;
        (C) the Immigration Reform Control Act, as amended; (D) the National Labor Relations Act, as amended; (E) the Occupational Safety and Health Act, as amended; (F) the Family and Medical Leave Act of 1993; (G) the Texas Labor Code (specifically
        including the Texas Payday Law, the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, and the Texas Whistleblower Act); (H) any federal, state or local wage and hour law; (I) the Age Discrimination in Employment Act of 1967, as
        amended; (J) any other local, state or federal law, regulation or ordinance; or (K) any public policy, contract, tort, or common law claim; (ii) any allegation for costs, fees, or other expenses including attorneys’ fees incurred in or with respect
        to a Released Claim; (iii) any and all rights, benefits or claims Executive may have under any employment contract, severance plan, incentive compensation plan, or equity-based plan with any Company Party (including any award agreement) or to any
        ownership interest in any Company Party; and (iv) any claim for compensation or benefits of any kind not expressly set forth in this Agreement (collectively, the “Released Claims”). This Agreement is not intended to indicate that any such claims exist or that, if they do exist, they are meritorious.  Rather, Executive is simply agreeing that, in exchange for
        any consideration received by him pursuant to Section 2, any and all potential claims of this nature that Executive may have against the Company Parties, regardless of whether they actually exist, are expressly settled, compromised and waived.
        Notwithstanding the foregoing, the Released Claims do not include any existing rights to indemnification and advancement of expenses incurred in connection with the same that Executive has under Delaware law or any agreement with the Company. THIS RELEASE INCLUDES MATTERS ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR OTHER FAULT, INCLUDING STRICT LIABILITY, OF ANY OF
          THE COMPANY PARTIES.

     

    For purposes of this Agreement, “Affiliate” shall mean, with respect to any Person (as defined below), any other Person directly or indirectly controlling, controlled by, or under common control with, such Person where “control” shall have the meaning
      given such term under Rule 405 of the Securities Act of 1933, as amended from time to time.  For purposes of this Agreement, “Person”
      shall mean any individual, natural person, corporation (including any non-profit corporation), general partnership, limited partnership, limited liability partnership, joint venture, estate, trust, company (including any company limited by shares,
      limited liability company, or joint stock company), incorporated or unincorporated association, governmental authority, firm, society or other enterprise, organization, or other entity of any nature.

     

    
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    (b)            Notwithstanding this release of liability, nothing in this Agreement prevents Executive from filing any non-legally waivable claim (including a challenge to the validity of this
        Agreement) with the Equal Employment Opportunity Commission (“EEOC”) or comparable state or local agency or participating in
        (or cooperating with) any investigation or proceeding conducted by the EEOC or comparable state or local agency or cooperating in any such investigation or proceeding; however, Executive understands and agrees that Executive is waiving any and all
        rights to recover any monetary or personal relief or recovery from a Company Party as a result of such EEOC or comparable state or local agency or proceeding or subsequent legal actions.  Further, nothing in this Agreement prohibits or restricts
        Executive from filing a charge or complaint with, or cooperating in any investigation with, the Securities and Exchange Commission, the Financial Industry Regulatory Authority, or any other securities regulatory agency or authority (each, a “Government Agency”).  This Agreement does not limit Executive’s right to receive an award for information provided to a Government
        Agency.  Further, in no event shall the Released Claims include (i) any claim which arises after the date that this Agreement is executed by Executive or (ii) any claim to vested benefits under an employee benefit plan.  Finally, the Released
        Claims shall not include the Company’s obligations or Executive’s rights under the Indemnification Agreement dated October 4, 2019 between the Company and Executive, which shall continue in full force and effect notwithstanding the execution of
        this Agreement.

     

    (c)            Executive hereby represents and warrants that, as of the time Executive executes this Agreement, Executive has not brought or joined any lawsuit or filed any charge or claim
        against any of the Company Parties in any court or before any Government Agency or arbitrator for or with respect to a matter, claim, or incident that occurred or arose out of one or more occurrences that took place on or prior to the time at which
        Executive signs this Agreement. Executive warrants and represents that (i) he is the sole owner of each and every claim, cause of action, and right compromised, settled, released or assigned pursuant to Section 3 of this Agreement and has not
        previously assigned, sold, transferred, conveyed, or encumbered same; (ii) he has the full right, power, capacity, and authority to enter into and execute this Agreement;  and (iii) he fully understands this Agreement releases any and all past
        claims regardless of whether he is now aware of such claims.

     

    4.             Executive’s
            Representations.

     

    (a)            Executive represents that Executive has received all leaves (paid and unpaid) that Executive was owed or could be owed by the Company and each of the other Company Parties and
        Executive has received all salary, bonuses and other compensation that Executive has been owed by the Company Parties as of the date that Executive executes this Agreement (which amount does not include the consideration described in Section 2
        above).

     

    (b)            By executing and delivering this Agreement, Executive expressly acknowledges that:

     

    (i)             Executive has carefully read this Agreement;

     

    (ii)            Executive has had at least 21 days to consider this Agreement before the execution and delivery hereof to Company and that any material changes made to this Agreement after
        initially provided to Executive shall not restart the time Executive has to consider this Agreement;

     

    
      5

      
        

    

     

    

    (iii)         Executive is receiving, pursuant to this Agreement, consideration in addition to anything of value to which he is already entitled, and Executive is not otherwise entitled to the
        consideration set forth in this Agreement, but for his entry into this Agreement and his entry into the Confirming Release;

     

    (iv)            Executive has been advised, and hereby is advised in writing, to discuss this Agreement with an attorney of Executive’s choice and Executive has had an adequate opportunity to do
        so prior to executing this Agreement;

     

    (v)            Executive fully understands the final and binding effect of this Agreement; the only promises made to Executive to sign this Agreement are those stated herein; and Executive is
        signing this Agreement knowingly, voluntarily and of Executive’s own free will, and that Executive understands and agrees to each of the terms of this Agreement;

     

    (vi)            The only matters relied upon by Executive and causing Executive to sign this Agreement are the provisions set forth in writing within the four corners of this Agreement; and

     

    (vii)  No Company Party has provided any tax or legal advice regarding this Agreement and Executive has had an adequate opportunity to receive sufficient tax and legal advice from
        advisors of Executive’s own choosing such that Executive enters into this Agreement with full understanding of the tax and legal implications thereof.

     

    (c)            Other than matters previously disclosed to the Board and outside auditors, Executive is not aware of any material act or omission on the part of any Company employee (including
        Executive), director or agent that may have violated any applicable law or regulation or otherwise exposed the Company or any other Company Party to any liability, whether criminal or civil, whether to any government, individual, shareholder or
        other entity.

     

    5.            Revocation Right.  Notwithstanding the initial effectiveness of this Agreement, Executive may revoke the release of claims set forth in Section 3 above (and
        therefore the effectiveness of such release) within the seven-day period beginning on the date Executive executes this Agreement (such seven day period being referred to herein as the “Release Revocation Period”).  To be effective, such revocation must be in writing signed by Executive and must be received by the Company, care of Scott Thomas
        (Scott.Thomas@cirrus.com) before 11:59 p.m., Central Time, on the last day of the Release Revocation Period.  If an effective revocation is delivered in the foregoing manner and timeframe, the release of claims set forth in Section 3 above will be
        of no force or effect, Executive will not receive the consideration set forth in Section 2 above, and the remainder of this Agreement will be in full force and effect.

     

    6.           Non-Disparagement. 
        Executive shall refrain from publishing any oral or written statements about the Company, any Company Party or any of their respective directors, officers, employees, consultants, agents, or representatives that (a) are slanderous, libelous, or
        defamatory, (b) disclose confidential information of or regarding the Company’s or any Company Party’s business affairs, directors, officers, managers, members, employees, consultants, agents, or representatives, or (c) place the Company, any
        Company Party, or any of their respective directors, officers, managers, members, employees, consultants, agents, or representatives in a false light before the public.  Nothing herein limits Executive from cooperating with any investigation by any
        Government Agency.  Conversely, the Company will instruct its officers and directors to refrain from making any oral or written statements about Executive that are not privileged internal company discussions and are (i) slanderous, libelous or
        defamatory, (ii) are otherwise likely to damage the personal or professional reputation of Executive, or (iii) place him in a false light before the public.  Nothing herein limits the Company from cooperating with any investigation by any
        Government Agency or from making any disclosure necessary or appropriate under applicable securities laws.

     

    
      6

      
        

    

     

    

    7.          No
            Waiver.  No failure by any Party hereto at any time to give notice of any breach by any other Party of, or to require compliance with, any condition or provision of this Agreement or the Confirming Release shall be deemed a waiver of
        similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

     

    8.             Applicable
            Law.  This Agreement and the Confirming Release are entered into under, and shall be governed for all purposes by, the laws of the State of Texas without reference to the principles of conflicts of law thereof.

     

    9.             Severability. 
        To the extent permitted by applicable law, the Parties agree that any term or provision (or part thereof) of this Agreement or the Confirming Release that renders such term or provision (or part thereof) or any other term or provision of this
        Agreement or the Confirming Release (or part thereof) invalid or unenforceable in any respect shall be modified to the extent necessary to avoid rendering such term or provision (or part thereof) invalid or unenforceable, and such modification
        shall be accomplished in the manner that most nearly preserves the benefit of the Parties’ bargain hereunder.

     

    10.            Withholding of Taxes and Other Employee Deductions.  The Company may
        withhold from any payments or settlements made pursuant to Section 2 hereof all federal, state, local, and other taxes and withholdings as may be required pursuant to any law or governmental regulation or ruling.

     

    11.        Continued
            Cooperation.  During and after Executive’s employment, Executive will provide the Company and, as applicable, the other Company Parties, with assistance, when reasonably requested by the Company, with respect to any matters related
        to Executive’s job responsibilities and otherwise providing information Executive obtained during the provision of the duties Executive performed for the Company and the other Company Parties, subject to reimbursement of Executive’s reasonable
        expenses incurred in complying with such requests for assistance.

     

    12.          Reasonable Assistance with Claims, Audits, and Investigations.  During and after the
        Executive’s employment, Executive shall provide reasonable assistance to the Company and any other Company Party and its counsel in any litigation, audit, or governmental investigation matters with respect to which such Executive may have knowledge
        of relevant facts or evidence, subject to reimbursement of Executive’s reasonable expenses incurred in complying with such requests for assistance.

     

    13.           Counterparts. 
        This Agreement may be executed in one or more counterparts (including portable document format (.pdf) and facsimile counterparts), each of which shall be deemed to be an original, but all of which together will constitute one and the same
        Agreement.

     

    
      7

      
        

    

     

    

    14.          Third-Party
            Beneficiaries.  This Agreement and the Confirming Release shall be binding upon and inure to the benefit of the Company and each other Company Party that is not a signatory hereto, as each other Company Party that is not a signatory
        hereto shall be a third-party beneficiary of Executive’s release of claims, representations and covenants set forth in this Agreement and the Confirming Release.

     

    15.         Section
            409A.  This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended, and the applicable Treasury regulations and administrative guidance issued thereunder (collectively, “Section 409A”) or an exemption thereunder and shall be construed and administered in accordance with Section 409A. Notwithstanding
        any other provision of 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 either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each installment payment provided
        under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement upon a termination of employment shall only be made upon a “separation from service” under Section 409A. Notwithstanding any other provision
        of this Agreement, if any payment or benefit provided to Executive in connection with Executive's termination of employment is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A and Executive is
        determined to be a “specified employee” as defined in Section 409A(a)(2)(b)(i), then such payment or benefit shall not be paid until the first payroll date following the six-month anniversary of the applicable termination date or, if earlier, on
        Executive’s death (the “Specified Employee Payment Date”). The aggregate of any payments that would otherwise have been paid
        before the Specified Employee Payment Date shall be paid to the Executive in a lump sum on the Specified Employee Payment Date and thereafter, any remaining payments shall be paid without delay in accordance with their original schedule.
        Notwithstanding the foregoing, the Company makes no representations that the payments and benefits provided under this Agreement are compliant with or exempt from Section 409A, and in no event shall the Company be liable for all or any portion of
        any taxes, penalties, interest, or other expenses that may be incurred by the Executive on account of non-compliance with Section 409A

     

    16.         Amendment;
            Entire Agreement.  This Agreement may not be changed orally but only by an agreement in writing agreed to and signed by Executive and the Company.  This Agreement and the Confirming Release constitute the entire agreement of the
        Parties with regard to the subject matters hereof.

     

    There are no oral agreements between Executive and the Company.  No promises or inducements have been offered except as set forth in
      this Agreement or the Confirming Release.  Executive and the Company acknowledge that, in executing this Agreement, neither Party has relied upon any representations or warranties of any other Party.  No promise or agreement which is not expressed in
      this Agreement and the Confirming Release has been made by the Company to Executive or by Executive to the Company in executing this Agreement.  Each Party agrees that any omissions of fact concerning the matters covered by this Agreement and the
      Confirming Release are of no consequence in the decision to execute this Agreement and the Confirming Release.

     

    
      8

      
        

    

     

    

    17.            Interpretation.  The section headings in this Agreement and the
        Confirming Release have been inserted for purposes of convenience and shall not be used for interpretive purposes.  The words “herein”, “hereof”, “hereunder,” and words of similar import, when used in this Agreement and the Confirming Release shall
        refer to this Agreement and the Confirming Release as a whole and not to any particular provision of this Agreement or the Confirming Release. The use herein of the word “including” following any general statement, term, or matter shall not be
        construed to limit such statement, term, or matter to the specific items or matters set forth immediately following such word or to similar items, or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”,
        or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter.  The word “or” as
        used herein is not exclusive and is deemed to have the meaning “and/or.”  References in this Agreement and in the Confirming Release to any agreement, instrument, or other document mean such agreement, instrument, or other document as amended,
        supplemented, and modified from time to time to the extent permitted by the provisions thereof and not prohibited by this Agreement.  No provision, uncertainty or ambiguity in or with respect to this Agreement or the Confirming Release shall be
        construed or resolved against any Party hereto, whether under any rule of construction or otherwise.  On the contrary, this Agreement and the Confirming Release has been reviewed by each of the Parties hereto and shall be construed and interpreted
        according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of the Parties.

     

    18.             Return of Property.  Executive acknowledges and agrees that, upon
        request of the Company, he will return to the Company all documents, files (including electronically stored information), and other materials constituting or reflecting confidential or proprietary information of the Company or any other Company
        Party, and any other property belonging to the Company or any other Company Party, including all computer files, electronically stored information, and other materials, and Executive shall not maintain a copy of any such materials in any form.
        Notwithstanding the previous sentence, provided that Executive first returns his cell phone and personal computer to the Company for the deletion of any information that the Company determines to be appropriate or necessary, the Company shall
        return Executive’s cell phone and personal computer to him to retain for his personal use.

     

    19.            Assignment.  This Agreement is personal to Executive and may not be
        assigned by Executive. The Company may assign its rights and obligations under this Agreement and the Confirming Release without Executive’s consent, including to any other Company Party and to any successor (whether by merger, purchase, or
        otherwise) to all or substantially all of the equity, assets, or businesses of the Company.

     

    20.            Reaffirmation of Release.  Executive shall execute the Resignation and
        Confirming Release Agreement that is attached as Exhibit A (the “Confirming Release”) and return the executed Confirming
        Release to the Company, care of Scott Thomas (Scott.Thomas@cirrus.com), so that it is received no later than the close of business on Executive’s last day of employment.

     

    [Signatures begin on the following page]

     

     

    

    
      9

      
        

    

     

    IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date(s) set forth beneath their signatures below.

     

    
      	
               

            	CIRRUS LOGIC, INC.
	
               

            	
               

            
	
               

            	
               

            
	
               

            	By: /s/ Alan R. Schuele
	
               

            	
               

            
	
               

            	Name: Al Schuele
	
               

            	
               

            
	
               

            	Title: Chair of the Board
	
               

            	
               

            
	
               

            	Date: October 30, 2020

    

     

    

     

    

     

    

  

  
    
      	
               

            	JASON P. RHODE
	 	 
	
               

            	
               

            
	 	/s/ Jason Rhode
	
               

            	Jason P. Rhode
	
               

            	
               

            
	
               

            	Date: October 30, 2020

    

     

    

    
      10

      
        

    

     
    EXHIBIT A

    

    

    RESIGNATION AND CONFIRMING RELEASE AGREEMENT

    

    

    This Resignation and Confirming Release Agreement (the “Confirming Release”) is that certain Confirming Release referenced in Section 20 of the Transition and General Release Agreement (the “Transition Agreement”), Cirrus Logic, Inc., a Delaware corporation (the “Company”), and Jason P. Rhode (“Executive”).  Executive’s acceptance of this Confirming Release becomes
      irrevocable and this Confirming Release becomes effective on the day Executive signs it.  Capitalized terms used herein that are not otherwise defined have the meanings assigned to them in the Transition Agreement.  In signing below, Executive agrees
      as follows:

     

    1.             Complete
            Release of Claims.

     

    (a)            For good and valuable consideration, including the consideration set forth in Section 2 of the Transition Agreement (and any portion thereof), which consideration Executive was
        not entitled to but for Executive’s entry into this Confirming Release, Executive hereby releases, discharges and forever acquits the Company and its Affiliates and subsidiaries, and each of the foregoing entities’ respective past, present and
        future members, partners (including general partners and limited partners), directors, trustees, officers, managers, employees, agents, attorneys, heirs, legal representatives, insurers, benefit plans (and their fiduciaries, administrators and
        trustees), and the successors and assigns of the foregoing, in their personal and representative capacities (collectively, the “Confirming
          Release Company Parties”), from liability for, and hereby waives, any and all claims, damages, or causes of action of
        any kind related to Executive’s ownership of any interest in any Confirming Release Company Party, Executive’s employment with any Confirming Release Company Party, the termination of such employment, and any other acts or omissions related to any
        matter occurring on or prior to the date that Executive executes this Agreement, including (i) any alleged violation through such date of: (A) any federal, state or local anti-discrimination law or anti-retaliation law, regulation or ordinance
        including Title VII of the Civil Rights Act of 1964, as amended, the Civil Rights Act of 1991, Sections 1981 through 1988 of Title 42 of the United States Code, as amended and the Americans with Disabilities Act of 1990, as amended; (B) the
        Employee Retirement Income Security Act of 1974, as amended; (C) the Immigration Reform Control Act, as amended; (D) the National Labor Relations Act, as amended; (E) the Occupational Safety and Health Act, as amended; (F) the Family and Medical
        Leave Act of 1993; (G) the Texas Labor Code (specifically including the Texas Payday Law, the Texas Anti-Retaliation Act, Chapter 21 of the Texas Labor Code, and the Texas Whistleblower Act); (H) any federal, state or local wage and hour law; (I)
        the Age Discrimination in Employment Act of 1967, as amended; (J) any other local, state or federal law, regulation or ordinance; or (K) any public policy, contract, tort, or common law claim; (ii) any allegation for costs, fees, or other expenses
        including attorneys’ fees incurred in or with respect to a Released Claim; (iii) any and all rights, benefits or claims Executive may have under any employment contract, severance plan, incentive compensation plan, or equity-based plan with any
        Confirming Release Company Party (including any award agreement) or to any ownership interest in any Confirming Release Company Party; and (iv) any claim for compensation or benefits of any kind not expressly set forth in this Confirming Release
        (collectively, the “Further Released Claims”). This Confirming Release is not intended to indicate that any such claims exist or that, if they do exist, they
        are meritorious.  Rather, Executive is simply agreeing that, in exchange for any consideration received by him pursuant to Section 2 of the Transition Agreement, any and all potential claims of this nature that Executive may have against the
        Confirming Release Company Parties, regardless of whether they actually exist, are expressly settled, compromised and waived. Notwithstanding the foregoing, the Further Released Claims do not include any existing rights to indemnification and
        advancement of expenses incurred in connection with the same that Executive has under Delaware law or any agreement with the Company. THIS RELEASE
          INCLUDES MATTERS ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR OTHER FAULT, INCLUDING STRICT LIABILITY, OF ANY OF THE CONFIRMING RELEASE COMPANY PARTIES.

     

    
      
        

    

     

    

    (b)            Notwithstanding this release of liability, nothing in this Confirming Release prevents Executive from filing any non-legally waivable claim (including a challenge to the validity
        of this Confirming Release) with the EEOC or comparable state or local agency or participating in (or cooperating with) any investigation or proceeding conducted by the EEOC or comparable state or local agency or cooperating in any such
        investigation or proceeding; however, Executive understands and agrees that Executive is waiving any and all rights to recover any monetary or personal relief or recovery from a Company Party as a result of such EEOC or comparable state or local
        agency or proceeding or subsequent legal actions.  Further, nothing in this Confirming Release prohibits or restricts Executive from filing a charge or complaint with, or cooperating in any investigation with, a Government Agency.  This Confirming
        Release does not limit Executive’s right to receive an award for information provided to a Government Agency.  Further, in no event shall the Further Released Claims include (i) any claim which arises after the date that this Agreement is executed
        by Executive or (ii) any claim to vested benefits under an employee benefit plan.

     

    (c)            Executive hereby represents and warrants that, as of the time Executive executes this Agreement, Executive has not brought or joined any lawsuit or filed any charge or claim
        against any of the Company Parties in any court or before any Government Agency or arbitrator for or with respect to a matter, claim, or incident that occurred or arose out of one or more occurrences that took place on or prior to the time at which
        Executive signs this Agreement. Executive warrants and represents that (i) he is the sole owner of each and every claim, cause of action, and right compromised, settled, released or assigned pursuant to Section 3 of this Agreement and has not
        previously assigned, sold, transferred, conveyed, or encumbered same; (ii) he has the full right, power, capacity, and authority to enter into and execute this Agreement;  and (iii) he fully understands this Agreement releases any and all past
        claims regardless of whether he is now aware of such claims.

     

    2.             Representations
            and Warranties Regarding Claims.  Executive hereby represents and warrants that, as of the date on which Executive signs this Confirming Release, Executive has not filed any claims, complaints, charges, or lawsuits against any of the
        Confirming Released Parties with any governmental agency or with any state or federal court or arbitrator for, or with respect to, a matter, claim, or incident that occurred or arose out of one or more occurrences that took place on or prior to the
        date on which Executive signs this Confirming Release.  Executive hereby further represents and warrants that Executive has not made any assignment, sale, delivery, transfer, or conveyance of any rights Executive has asserted or may have against
        any of the Confirming Released Parties with respect to any Further Released Claim.

     

    
      
        

    

     

    

    3.             Executive’s
            Acknowledgements.  Executive acknowledges that:

     

    (a)            Execution and delivery of this Confirming Release constitute resignation by Executive from employment with the Company and, if applicable, each of the other Company Parties;
        provided, however, that if Executive’s employment with the Company or any of the other Company Parties is extended beyond the Transition Completion Date because the Company and Executive execute and deliver prior to the Transition Completion Date a
        new written employment agreement or a written amendment to the Transition Agreement, this Section 3(a) shall have no force and effect to the extent it is inconsistent with the new agreement or amendment.

     

    (b)            Executive has received all leaves (paid and unpaid) that Executive was owed or could be owed by the Company and each of the other Company Parties and Executive has received all
        salary, bonuses and other compensation that Executive has been owed by the Company Parties as of the date that Executive executes this Confirming Release (which amount does not include the consideration described in Section 2 of the Transition
        Agreement).

     

    (c)            By executing and delivering this Confirming Release, Executive expressly acknowledges that:

     

    (i)             Executive has carefully read this Agreement;

     

    (ii)   No material changes have been made to the Transition Agreement or this Confirming
        Release since it was first provided to Executive and Executive has had at least 21 days to consider the Transition Agreement and this Confirming Release before the execution and delivery hereof to Company;

     

    (iii)            Executive is receiving, pursuant to this Agreement, consideration in addition to anything of value to which he is already entitled, and Executive is not otherwise entitled to the
        consideration set forth in the Transition Agreement, but for his entry into the Transition Agreement and this Confirming Release;

     

    (iv)          Executive has been advised, and hereby is advised in writing, to discuss this Confirming Release with an attorney of Executive’s choice and Executive has had an adequate
        opportunity to do so prior to executing this Confirming Release;

     

    (v)    Executive fully understands the final and binding effect of this Confirming
        Release; the only promises made to Executive to sign this Confirming Release are those stated herein and in the Transition Agreement; and Executive is signing this Confirming Release knowingly, voluntarily and of Executive’s own free will, and that
        Executive understands and agrees to each of the terms of this Confirming Release and the Transition Agreement;

     

    (vi)            The only matters relied upon by Executive and causing Executive to sign this Confirming Release are the provisions set forth in writing within the four corners of this Confirming
        Release and the Transition Agreement; and

     

    (vii)            No Company Party has provided any tax or legal advice regarding this Confirming Release or the Transition Agreement and Executive has had an adequate opportunity to receive
        sufficient tax and legal advice from advisors of Executive’s own choosing such that Executive enters into this Confirming Release with full understanding of the tax and legal implications thereof.

     

    
      
        

    

     

    

    (d)            Other than matters previously disclosed to the Board and outside auditors, Executive is not aware of any material act or omission on the part of any Company employee (including
        Executive), director or agent that may have violated any applicable law or regulation or otherwise exposed the Company or any other Company Party to any liability, whether criminal or civil, whether to any government, individual, shareholder or
        other entity.

     

    4.             Amendment;
            Entire Agreement.  This Confirming Release may not be changed orally but only by an agreement in writing agreed to and signed by Executive and the Company.  The Transition Agreement and this Confirming Release constitute the entire
        agreement of the Parties with regard to the subject matters hereof. Notwithstanding the foregoing, the Transition Agreement and this Confirming Release complement (and do not supersede or replace) any other agreements between the Company or any of
        its Affiliates and Executive that impose restrictions on Executive with regard to confidentiality, non-competition, non-solicitation, or non-disparagement (including the award agreements referenced in Section 6 of the Transition Agreement).

     

    There are no oral agreements between Executive and the Company.  No promises or inducements have been offered except as set forth in the Transition
      Agreement and this Confirming Release.  Executive and the Company acknowledge that, in executing this Confirming Release, neither Party has relied upon any representations or warranties of any other Party.  No promise or agreement which is not
      expressed in the Transition Agreement and this Confirming Release has been made by the Company to Executive or by Executive to the Company in executing this Confirming Release.  Each Party agrees that any omissions of fact concerning the matters
      covered by this the Transition Agreement and this Confirming Release are of no consequence in the decision to execute this Confirming Release.

     

    5.             Return
            of Property.  Executive represents and warrants that Executive has returned to the Company all property belonging to the Company
        and any other Confirming Released Party, including all computer files and other electronically stored information, client materials, electronically stored information, and other materials provided to Executive by the Company or any other Confirming
        Released Party in the course of Executive’s employment and Executive further represents and warrants that Executive has not maintained a copy of any such materials in any form; provided, however, that the property described in the previous clause
        does not include any cell phones or personal computers that the Company has returned to Executive for him to retain for his personal use.

     

    6.             Revocation Right.  Notwithstanding the initial effectiveness of this Confirming Release, Executive may revoke the delivery (and therefore the
        effectiveness) of this Confirming Release within the seven-day period beginning on the date Executive executes this Confirming Release (such seven day period being referred to herein as the “Confirming Release Revocation Period”).  To be effective,
        such revocation must be in writing signed by Executive and must be received by the Company, care of Scott Thomas (Scott.Thomas@cirrus.com) before 11:59 p.m., central time, on the last day of the Confirming Release Revocation Period.  If an
        effective revocation is delivered in the foregoing manner and timeframe, the release of claims set forth in Section 1 of this Confirming Release above will be of no force or effect, Executive will not receive the consideration set forth in Section
        2 of the Transition Agreement, and the remainder of this Confirming Release will be in full force and effect.

     

    
      
        

    

     

    

    EXECUTIVE HAS CAREFULLY READ THIS CONFIRMING RELEASE, FULLY UNDERSTANDS HIS AGREEMENT, AND SIGNS IT AS HIS OWN FREE ACT.

     

    
      
         

        

      

      
        
          	
                   

                	JASON P. RHODE
	 	 
	 	

                
	
                   

                	Jason P. Rhode
	
                   

                	
                   

                
	
                   

                	Date:

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