Document:

1999 Nonstatutory Stock Option Plan

 Exhibit 10.4 
 RAMBUS INC. 
 1999 NONSTATUTORY STOCK OPTION PLAN 
 (as amended and restated as of April 4, 2007) 
 1. Purposes of the Plan. The purposes of this Stock Plan are: 
  

	 	•	 	 to attract and retain the best available personnel for positions of substantial responsibility, 

  

	 	•	 	 to provide additional incentive to Employees and Consultants, and 

  

	 	•	 	 to promote the success of the Company’s business. 

 Options granted under the Plan will be Nonstatutory Stock Options. 
 2. Definitions. As used herein,
the following definitions shall apply: 
 (a) “Administrator” means the Board or any of its Committees as shall be
administering the Plan, in accordance with Section 4 of the Plan. 
 (b) “Applicable Laws” means the requirements
relating to the administration of stock option plans under U. S. state corporate laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Common Stock is listed or quoted and the applicable laws of
any foreign country or jurisdiction where Options are, or will be, granted under the Plan. 
 (c) “Board” means the Board of
Directors of the Company. 
 (d) “Code” means the Internal Revenue Code of 1986, as amended. 
 (e) “Committee” means a committee of Directors or of other individuals satisfying Applicable Laws appointed by the Board in accordance
with Section 4 hereof. 
 (f) “Common Stock” means the common stock of the Company. 
 (g) “Company” means Rambus Inc., a Delaware corporation. 
 (h) “Consultant” means any person, including an advisor, engaged by the Company or a Parent or Subsidiary to render services to such entity. 
 (i) “Director” means a member of the Board. 

 (j) “Disability” means total and permanent disability as defined in
Section 22(e)(3) of the Code. 
 (k) “Employee” means any person, including Officers and Directors, employed by the
Company or any Parent or Subsidiary of the Company. A Service Provider shall not cease to be an Employee in the case of (i) any leave of absence approved by the Company or (ii) transfers between locations of the Company or between the
Company, its Parent, any Subsidiary, or any successor. 
 (l) “Exchange Act” means the Securities Exchange Act of 1934, as
amended. 
 (m) “Fair Market Value” means, as of any date, the value of Common Stock determined as follows: 
 (i) If the Common Stock is listed on any established stock exchange or a national market system, including without limitation the Nasdaq National Market
or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its Fair Market Value shall be the closing sales price for such stock (or the closing bid, if no sales were reported) as quoted on such exchange or system for the last market trading day
prior to the time of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; 
 (ii) If the Common Stock is regularly quoted by a recognized securities dealer but selling prices are not reported, the Fair Market Value of a Share of Common Stock shall be the mean between the high bid and low asked prices for the Common
Stock on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Administrator deems reliable; or 
 (iii) In the absence of an established market for the Common Stock, the Fair Market Value shall be determined in good faith by the Administrator.

 (n) “Notice of Grant” means a written or electronic notice evidencing certain terms and conditions of an individual
Option grant. The Notice of Grant is part of the Option Agreement. 
 (o) “Officer” means a person who is an officer of the
Company within the meaning of Section 16 of the Exchange Act and the rules and regulations promulgated thereunder. 
 (p)
“Option” means a nonstatutory stock option granted pursuant to the Plan, that is not intended to qualify as an incentive stock option within the meaning of Section 422 of the Code and the regulations promulgated thereunder.

 (q) “Option Agreement” means an agreement between the Company and an Optionee evidencing the terms and conditions of an
individual Option grant. The Option Agreement is subject to the terms and conditions of the Plan. 
  

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 (r) “Option Exchange Program” means a program whereby outstanding Options are
surrendered in exchange for Options with a lower exercise price. 
 (s) “Optioned Stock” means the Common Stock subject
to an Option. 
 (t) “Optionee” means the holder of an outstanding Option granted under the Plan. 
 (u) “Parent” means a “parent corporation,” whether now or hereafter existing, as defined in Section 424(e) of the Code.

 (v) “Plan” means this 1999 Nonstatutory Stock Option Plan, as amended and restated on April 10, 2002. 
 (w) “Service Provider” means an Employee including an Officer, Director or Consultant. 
 (x) “Share” means a share of the Common Stock, as adjusted in accordance with Section 12 of the Plan. 
 (y) “Subsidiary” means a “subsidiary corporation”, whether now or hereafter existing, as defined in Section 424(f) of the
Code. 
 3. Stock Subject to the Plan. Subject to the provisions of Section 12 of the Plan, the maximum
aggregate number of Shares which may be optioned and sold under the Plan is 14,800,000 Shares. The Shares may be authorized, but unissued, or reacquired Common Stock. 
 If an Option expires or becomes unexercisable without having been exercised in full, or is surrendered pursuant to an Option Exchange Program, the unpurchased Shares which were subject thereto shall become available
for future grant or sale under the Plan (unless the Plan has terminated); provided, however, that Shares that have actually been issued under the Plan, upon exercise of an Option, shall not be returned to the Plan and shall not become
available for future distribution under the Plan. 
 4. Administration of the Plan. 
 (a) Administration. The Plan shall be administered by (A) the Board or (B) a Committee, which committee shall be constituted to satisfy
Applicable Laws. 
 (b) Powers of the Administrator. Subject to the provisions of the Plan, and in the case of a
Committee, subject to the specific duties delegated by the Board to such Committee, the Administrator shall have the authority, in its discretion: 
 (i) to determine the Fair Market Value; 
  

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 (ii) to select the Service Providers to whom Options may be granted hereunder; 
 (iii) to determine the number of shares of Common Stock to be covered by each Option granted hereunder; 
 (iv) to approve forms of agreement for use under the Plan; 
 (v) to determine the terms and conditions, not inconsistent with the terms of the Plan, of any Option granted hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times
when Options may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and any restriction or limitation regarding any Option of the shares of Common Stock relating thereto, based
in each case on such factors as the Administrator, in its sole discretion, shall determine; 
 (vi) to reduce the exercise price of any
Option to the then current Fair Market Value if the Fair Market Value of the Common Stock covered by such Option shall have declined since the date the Option was granted; 
 (vii) to institute an Option Exchange Program; 
 (viii) to construe and interpret the terms of the Plan and awards granted pursuant to the Plan; 
 (ix) to prescribe, amend and
rescind rules and regulations relating to the Plan, including rules and regulations relating to sub-plans established for the purpose of qualifying for preferred tax treatment under foreign tax laws; 
 (x) to modify or amend each Option (subject to Section 14(b) of the Plan), including the discretionary authority to extend the post-termination
exercisability period of Options longer than is otherwise provided for in the Plan; 
 (xi) to allow Optionees to satisfy withholding tax
obligations by electing to have the Company withhold from the Shares to be issued upon exercise of an Option that number of Shares having a Fair Market Value equal to the amount required to be withheld. The Fair Market Value of the Shares to be
withheld shall be determined on the date that the amount of tax to be withheld is to be determined. All elections by an Optionee to have Shares withheld for this purpose shall be made in such form and under such conditions as the Administrator may
deem necessary or advisable; 
 (xii) to authorize any person to execute on behalf of the Company any instrument required to effect the
grant of an Option previously granted by the Administrator; 
  

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 (xiii) to make all other determinations deemed necessary or advisable for administering the Plan.

 (c) Effect of Administrator’s Decision. The Administrator’s decisions, determinations and interpretations
shall be final and binding on all Optionees and any other holders of Options. 
 5. Eligibility. Options may be granted to Service
Providers; provided, however, that notwithstanding anything to the contrary contained in the Plan, Options may not be granted to Officers and Directors. 
 6. Limitation. Neither the Plan nor any Option shall confer upon an Optionee any right with respect to continuing the Optionee’s relationship as a Service Provider with the Company, nor shall they
interfere in any way with the Optionee’s right or the Company’s right to terminate such relationship at any time, with or without cause. 
 7. Term of Plan. The Plan shall become effective upon its adoption by the Board. It shall continue in effect for a term of ten (10) years unless terminated earlier under Section 14 of the Plan. 
 8. Term of Option. The term of each Option shall be stated in the Option Agreement. 
 9. Option Exercise Price and Consideration. 
 (a) Exercise Price. The per share exercise price for the Shares to be issued pursuant to exercise of an Option shall be determined by the Administrator. 
 (b) Waiting Period and Exercise Dates. At the time an Option is granted, the Administrator shall fix the period within which the Option may be exercised and shall determine any conditions which must be
satisfied before the Option may be exercised. 
 (c) Form of Consideration. The Administrator shall determine the acceptable form of
consideration for exercising an Option, including the method of payment. Such consideration may consist entirely of: 
 (i) cash; 

(ii) check; 
 (iii) promissory note;

 (iv) other Shares which (A) in the case of Shares acquired upon exercise of an option, have been owned by the Optionee for more than
six months on the date of surrender, and (B) have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares as to which said Option shall be exercised; 
  

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 (v) consideration received by the Company under a cashless exercise program implemented by the Company
in connection with the Plan; 
 (vi) a reduction in the amount of any Company liability to the Optionee, including any liability
attributable to the Optionee’s participation in any Company-sponsored deferred compensation program or arrangement; 
 (vii) any
combination of the foregoing methods of payment; or 
 (viii) such other consideration and method of payment for the issuance of Shares to
the extent permitted by Applicable Laws. 
 10. Exercise of Option. 
 (a) Procedure for Exercise; Rights as a Stockholder. Any Option granted hereunder shall be exercisable according to the terms of the Plan
and at such times and under such conditions as determined by the Administrator and set forth in the Option Agreement. Unless the Administrator provides otherwise, vesting of Options granted hereunder shall be tolled during any unpaid leave of
absence. An Option may not be exercised for a fraction of a Share. 
 An Option shall be deemed exercised when the Company receives:
(i) written or electronic notice of exercise (in accordance with the Option Agreement) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the Option is exercised. Full payment may
consist of any consideration and method of payment authorized by the Administrator and permitted by the Option Agreement and the Plan. Shares issued upon exercise of an Option shall be issued in the name of the Optionee or, if requested by the
Optionee, in the name of the Optionee and his or her spouse. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends
or any other rights as a stockholder shall exist with respect to the Optioned Stock, notwithstanding the exercise of the Option. The Company shall issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will
be made for a dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 12 of the Plan. 
 Exercising an Option in any manner shall decrease the number of Shares thereafter available, both for purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised.

 (b) Termination of Relationship as a Service Provider. If an Optionee ceases to be a Service Provider, other than upon the
Optionee’s death or Disability, the Optionee may exercise his 

  

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or her Option within such period of time as is specified in the Option Agreement to the extent that the Option is vested on the date of termination (but in
no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for three (3) months following the
Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall revert to the Plan. If, after termination, the Optionee does not
exercise his or her Option within the time specified by the Administrator, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 
 (c) Disability of Optionee. If an Optionee ceases to be a Service Provider as a result of the Optionee’s Disability, the Optionee may exercise his or her Option within such period of time as is specified
in the Option Agreement to the extent the Option is vested on the date of termination (but in no event later than the expiration of the term of such Option as set forth in the Option Agreement). In the absence of a specified time in the Option
Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s termination. If, on the date of termination, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested
portion of the Option shall revert to the Plan. If, after termination, the Optionee does not exercise his or her Option within the time specified herein, the Option shall terminate, and the Shares covered by such Option shall revert to the Plan.

 (d) Death of Optionee. If an Optionee dies while a Service Provider, the Option may be exercised within such period of
time as is specified in the Option Agreement (but in no event later than the expiration of the term of such Option as set forth in the Notice of Grant), by the Optionee’s estate or by a person who acquires the right to exercise the Option by
bequest or inheritance, but only to the extent that the Option is vested on the date of death. In the absence of a specified time in the Option Agreement, the Option shall remain exercisable for twelve (12) months following the Optionee’s
termination. If, at the time of death, the Optionee is not vested as to his or her entire Option, the Shares covered by the unvested portion of the Option shall immediately revert to the Plan. The Option may be exercised by the executor or
administrator of the Optionee’s estate or, if none, by the person(s) entitled to exercise the Option under the Optionee’s will or the laws of descent or distribution. If the Option is not so exercised within the time specified herein, the
Option shall terminate, and the Shares covered by such Option shall revert to the Plan. 
 (e) Buyout Provisions. The Administrator
may at any time offer to buy out for a payment in cash or Shares an Option previously granted based on such terms and conditions as the Administrator shall establish and communicate to the Optionee at the time that such offer is made. 
 11. Non-Transferability. Unless determined otherwise by the Administrator, an Option may not be sold, pledged, assigned, hypothecated,
transferred, or disposed of in any manner other than by will or by the laws of descent or distribution and may be exercised, during the lifetime of the Optionee, only by the Optionee. If the Administrator makes an Option transferable, such Option
shall contain such additional terms and conditions as the Administrator deems appropriate. 
  

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 12. Adjustments Upon Changes in Capitalization, Dissolution, Merger or Asset
Sale. 
 (a) Changes in Capitalization. Subject to any required action by the stockholders of the Company, the number of shares of
Common Stock covered by each outstanding Option, and the number of shares of Common Stock which have been authorized for issuance under the Plan but as to which no Options have yet been granted or which have been returned to the Plan upon
cancellation or expiration of an Option, as well as the price per share of Common Stock covered by each such outstanding Option, shall be proportionately adjusted for any increase or decrease in the number of issued shares of Common Stock resulting
from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of issued shares of Common Stock effected without receipt of consideration by the Company;
provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration.” Such adjustment shall be made by the Board, whose determination in that respect
shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class, shall affect, and no adjustment by reason thereof
shall be made with respect to, the number or price of shares of Common Stock subject to an Option. 
 (b) Dissolution or Liquidation.
In the event of the proposed dissolution or liquidation of the Company, the Administrator shall notify each Optionee as soon as practicable prior to the effective date of such proposed transaction. The Administrator in its discretion may provide for
an Optionee to have the right to exercise his or her Option until ten (10) days prior to such transaction as to all of the Optioned Stock covered thereby, including Shares as to which the Option would not otherwise be exercisable. In addition,
the Administrator may provide that any Company repurchase option applicable to any Shares purchased upon exercise of an Option shall lapse as to all such Shares, provided the proposed dissolution or liquidation takes place at the time and in the
manner contemplated. To the extent it has not been previously exercised, an Option will terminate immediately prior to the consummation of such proposed action. 
 (c) Merger or Asset Sale. In the event of a merger of the Company with or into another corporation, or the sale of substantially all of the assets of the Company (a “Merger”), each outstanding Option
shall be assumed or an equivalent option substituted by the successor corporation or a Parent or Subsidiary of the successor corporation (the “Successor Corporation”). 
 Following such assumption or substitution in connection with a Merger, if the Optionee’s status as an Employee or employee of the Successor
Corporation, as applicable, is terminated by the Successor Corporation as a result of an Involuntary Termination (as defined below) other than for Cause (as defined below) within twelve months following a Merger, the Optionee shall fully vest in and
have the right to exercise Optionee’s Option as to all of the Optioned Stock, including Shares as to which Optionee would not otherwise be vested or exercisable. Thereafter, the Option shall remain exercisable in accordance with Sections 10(b)
through (d) above. 
  

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 For purposes of this section, any of the following events shall constitute an “Involuntary
Termination”: (i) without the Employee’s express written consent, a significant reduction of the Employee’s duties, authority or responsibilities, relative to the Employee’s duties, authority or responsibilities as in effect
immediately prior to the Merger, or the assignment to Employee of such reduced duties, authority or responsibilities; (ii) without the Employee’s express written consent, a substantial reduction, without good business reasons, of the
facilities and perquisites (including office space and location) available to the Employee immediately prior to the Merger; (iii) a reduction by the Successor Corporation in the base salary of the Employee as in effect immediately prior to the
Merger; (iv) a material reduction by the Successor Corporation in the kind or level of employee benefits, including bonuses, to which the Employee was entitled immediately prior to the Merger with the result that the Employee’s overall
benefits package is significantly reduced; (v) the relocation of the Employee to a facility or a location more than fifty (50) miles from the Employee’s then present location, without the Employee’s express written consent;
(vi) any purported termination of the Employee by the Corporation which is not effected for Disability or for Cause, or any purported termination for which the grounds relied upon are not valid; (vii) or any act or set of facts or
circumstances which would, under California case law or statute constitute a constructive termination of the Employee. 
 For purposes of
this section, “Cause” shall mean (i) any act of personal dishonesty taken by the Employee in connection with his responsibilities as an employee and intended to result in substantial personal enrichment of the Employee, (ii) the
conviction of a felony, (iii) a willful act by the Employee which constitutes gross misconduct and which is injurious to the Successor Corporation, and (iv) following delivery to the Employee of a written demand for performance from the
Successor Corporation which describes the basis for the Successor Corporation’s belief that the Employee has not substantially performed his duties, continued violations by the Employee of the Employee’s obligations to the Successor which
are demonstrably willful and deliberate on the Employee’s part. 
 In the event that the Successor Corporation refuses to assume or
substitute for the Option, the Optionee shall fully vest in and have the right to exercise the Option as to all of the Optioned Stock, including Shares as to which Optionee would not otherwise be vested or exercisable. If an Option becomes fully
vested and exercisable in lieu of assumption or substitution in the event of a merger or sale of assets, the Administrator shall notify the Optionee in writing or electronically that the Option shall be fully vested and exercisable for a period of
fifteen (15) days from the date of such notice, and the Option shall terminate upon the expiration of such period. For the purposes of this paragraph, the Option shall be considered assumed if, following the merger or sale of assets, the option
confers the right to purchase or receive, for each Share of Optioned Stock subject to the Option immediately prior to the merger or sale of assets, the consideration (whether stock, cash, or other securities or property) received in the merger or
sale of assets by holders of Common Stock for each Share held on the effective date of the transaction (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding Shares);
provided, however, that if such consideration received in the merger or sale of assets is not solely common stock of the Successor Corporation or its Parent, the Administrator may, 

  

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with the consent of the Successor Corporation, provide for the consideration to be received upon the exercise of the Option, for each Share of Optioned Stock
subject to the Option, to be solely common stock of the Successor Corporation or its Parent equal in fair market value to the per share consideration received by holders of Common Stock in the merger or sale of assets. 
 13. Date of Grant. The date of grant of an Option shall be, for all purposes, the date on which the Administrator makes the determination granting
such Option, or such other later date as is determined by the Administrator. Notice of the determination shall be provided to each Optionee within a reasonable time after the date of such grant. 
 14. Amendment and Termination of the Plan. 
 (a) Amendment and Termination. The Board may at any time amend, alter, suspend or terminate the Plan. 
 (b) Effect of Amendment or Termination. No amendment, alteration, suspension or termination of the Plan shall impair the rights of any Optionee, unless mutually agreed otherwise between the Optionee and the
Administrator, which agreement must be in writing and signed by the Optionee and the Company. Termination of the Plan shall not affect the Administrator’s ability to exercise the powers granted to it hereunder with respect to Options granted
under the Plan prior to the date of such termination. 
 15. Conditions Upon Issuance of Shares. 
 (a) Legal Compliance. Shares shall not be issued pursuant to the exercise of an Option unless the exercise of such Option and the issuance and
delivery of such Shares shall comply with Applicable Laws and shall be further subject to the approval of counsel for the Company with respect to such compliance. 
 (b) Investment Representations. As a condition to the exercise of an Option, the Company may require the person exercising such Option to represent and warrant at the time of any such exercise that the Shares
are being purchased only for investment and without any present intention to sell or distribute such Shares if, in the opinion of counsel for the Company, such a representation is required. 
 16. Inability to Obtain Authority. The inability of the Company to obtain authority from any regulatory body having jurisdiction, which authority
is deemed by the Company’s counsel to be necessary to the lawful issuance and sale of any Shares hereunder, shall relieve the Company of any liability in respect of the failure to issue or sell such Shares as to which such requisite authority
shall not have been obtained. 
  

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 17. Reservation of Shares. The Company, during the term of this Plan, will at all times
reserve and keep available such number of Shares as shall be sufficient to satisfy the requirements of the Plan. 
  

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 1999 NONSTATUTORY STOCK OPTION PLAN 
 STOCK OPTION AGREEMENT 
 Unless otherwise defined herein, the terms defined in
the Plan shall have the same defined meanings in this Option Agreement. 
 I. NOTICE OF STOCK OPTION GRANT 
 [Optionee’s Name and Address] 
 You have been granted an
option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Option Agreement, as follows: 
  

			
	Grant Number	  	_______________________
		
	Date of Grant	  	_______________________
		
	Vesting Commencement Date	  	_______________________
		
	Exercise Price per Share	  	$______________________
		
	Total Number of Shares Granted	  	_______________________
		
	Total Exercise Price	  	$______________________
		
	Type of Option:	  	Nonstatutory Stock Option
		
	Term/Expiration Date:	  	_______________________

 Vesting Schedule: 
 This Option may be exercised, in whole or in part, in accordance with the following schedule: 
 12.5% of the
Shares subject to the Option shall vest six months after the date of grant, and 1/48 of the Shares subject to the Option shall vest each month thereafter so that 100% of the Shares subject to the Option shall be vested four (4) years from the
grant date, subject to the Optionee remaining a Service Provider as of such vesting dates. 
 Termination Period: 
 This Option may be exercised for three months after Optionee ceases to be a Service Provider. Upon the death or Disability of the Optionee, this Option
may be exercised for such longer period as provided in the Plan. In no event shall this Option be exercised later than the Term/Expiration Date as provided above. 
  

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 II. AGREEMENT 
 1 Grant of Option. The Plan Administrator of the Company hereby grants to the Optionee named in the Notice of Grant attached as Part I of this Agreement (the “Optionee”) an option (the
“Option”) to purchase the number of Shares, as set forth in the Notice of Grant, at the exercise price per share set forth in the Notice of Grant (the “Exercise Price”), subject to the terms and conditions of the Plan, which is
incorporated herein by reference. Subject to Section 14(b) of the Plan, in the event of a conflict between the terms and conditions of the Plan and the terms and conditions of this Option Agreement, the terms and conditions of the Plan shall
prevail. 
 2 Exercise of Option. 
 (a) Right to Exercise. This Option is exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and the applicable provisions of the Plan and this Option Agreement. 
 (b) Method of Exercise. This Option is exercisable by delivery of an exercise notice, in the form attached as Exhibit A (the “Exercise
Notice”), which shall state the election to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised Shares”), and such other representations and agreements as may be required by the
Company pursuant to the provisions of the Plan. The Exercise Notice shall be completed by the Optionee and delivered to the Secretary of the Company. The Exercise Notice shall be accompanied by payment of the aggregate Exercise Price as to all
Exercised Shares. This Option shall be deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. 
 No Shares shall be issued pursuant to the exercise of this Option unless such issuance and exercise complies with Applicable Laws. Assuming such
compliance, for income tax purposes the Exercised Shares shall be considered transferred to the Optionee on the date the Option is exercised with respect to such Exercised Shares. 
 3 Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, at the election of the
Optionee: 
 (a) cash; 
 (b)
check; 
 (c) consideration received by the Company under a cashless exercise program implemented by the Company in connection with the Plan;
or 
 (d) surrender of other Shares which (i) in the case of Shares acquired upon exercise of an option, have been owned by the Optionee
for more than six (6) months on the date of surrender, and (ii) have a Fair Market Value on the date of surrender equal to the aggregate Exercise Price of the Exercised Shares; or 
  

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 (e) with the Administrator’s consent, delivery of Optionee’s promissory note (the
“Note”) in the form attached hereto as Exhibit C, in the amount of the aggregate Exercise Price of the Exercised Shares together with the execution and delivery by the Optionee of the Security Agreement attached hereto as
Exhibit B. The Note shall bear interest at the “applicable federal rate” prescribed under the Code and its regulations at time of purchase, and shall be secured by a pledge of the Shares purchased by the Note pursuant to the
Security Agreement. 
 4 Non-Transferability of Option. This Option may not be transferred in any manner otherwise than by will or by
the laws of descent or distribution and may be exercised during the lifetime of Optionee only by the Optionee. The terms of the Plan and this Option Agreement shall be binding upon the executors, administrators, heirs, successors and assigns of the
Optionee. 
 5 Term of Option. This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised
during such term only in accordance with the Plan and the terms of this Option Agreement. 
 6 Tax Consequences. Some of the federal
tax consequences relating to this Option, as of the date of this Option, are set forth below. THIS SUMMARY IS NECESSARILY INCOMPLETE, AND THE TAX LAWS AND REGULATIONS ARE SUBJECT TO CHANGE. THE OPTIONEE SHOULD CONSULT A TAX ADVISER BEFORE EXERCISING
THIS OPTION OR DISPOSING OF THE SHARES. 
 (a) Exercising the Option. The Optionee may incur regular federal income tax liability upon
exercise of a NSO. The Optionee will be treated as having received compensation income (taxable at ordinary income tax rates) equal to the excess, if any, of the Fair Market Value of the Exercised Shares on the date of exercise over their aggregate
Exercise Price. If the Optionee is an Employee or a former Employee, the Company will be required to withhold from his or her compensation or collect from Optionee and pay to the applicable taxing authorities an amount in cash equal to a percentage
of this compensation income at the time of exercise, and may refuse to honor the exercise and refuse to deliver Shares if such withholding amounts are not delivered at the time of exercise. 
 (b) Disposition of Shares. If the Optionee holds NSO Shares for at least one year, any gain realized on disposition of the Shares will be treated
as long-term capital gain for federal income tax purposes. 
 7 Entire Agreement; Governing Law. The Plan is incorporated herein by
reference. The Plan and this Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Optionee with respect to
the subject matter hereof, and may not be modified adversely to the Optionee’s interest except by means of a writing signed by the Company and Optionee. This agreement is governed by the internal substantive laws, but not the choice of law
rules, of California. 
  

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 8 NO GUARANTEE OF CONTINUED SERVICE. OPTIONEE ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES
PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AT THE WILL OF THE COMPANY (AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED AN OPTION OR PURCHASING SHARES HEREUNDER). OPTIONEE FURTHER ACKNOWLEDGES AND
AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT
ALL, AND SHALL NOT INTERFERE WITH OPTIONEE’S RIGHT OR THE COMPANY’S RIGHT TO TERMINATE OPTIONEE’S RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE. 
 By your signature and the signature of the Company’s representative below, you and the Company agree that this Option is granted under and governed
by the terms and conditions of the Plan and this Option Agreement. Optionee has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Option Agreement and fully
understands all provisions of the Plan and Option Agreement. Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions relating to the Plan and Option Agreement.
Optionee further agrees to notify the Company upon any change in the residence address indicated below. 
  

					
	OPTIONEE:	 		  	RAMBUS INC.
	  
  
	 		  	  
  

	Signature	 		  	By
	  
  
	 		  	  
  

	Print Name	 		  	Title
	  
  
	 		  	
	Residence Address	 		  	
	  
  
	 		  	

  

 15 

 EXHIBIT A 
 1999 NONSTATUTORY STOCK OPTION PLAN 
 EXERCISE NOTICE 
 Rambus Inc. 
 4440 El Camino Real 
 Los Altos, California 94022 
 Attention: Secretary 
 1. Exercise of Option. Effective as of today,
                    , 20    , the undersigned (“Purchaser”) hereby elects to purchase
                    shares (the “Shares”) of the Common Stock of Rambus Inc. (the “Company”) under and pursuant to the
1999 Nonstatutory Stock Option Plan (the “Plan”) and the Stock Option Agreement dated                     ,
20    (the “Option Agreement”). The purchase price for the Shares shall be $                    ,
as required by the Option Agreement. 
 2. Delivery of Payment. Purchaser herewith delivers to the Company the full purchase price for
the Shares. 
 3. Representations of Purchaser. Purchaser acknowledges that Purchaser has received, read and understood the Plan and
the Option Agreement and agrees to abide by and be bound by their terms and conditions. 
 4. Rights as Stockholder. Until the
issuance (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company) of the Shares, no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to
the Optioned Stock, notwithstanding the exercise of the Option. The Shares so acquired shall be issued to the Optionee as soon as practicable after exercise of the Option. No adjustment will be made for a dividend or other right for which the record
date is prior to the date of issuance, except as provided in Section 12 of the Plan. 
 5. Tax Consultation. Purchaser
understands that Purchaser may suffer adverse tax consequences as a result of Purchaser’s purchase or disposition of the Shares. Purchaser represents that Purchaser has consulted with any tax consultants Purchaser deems advisable in connection
with the purchase or disposition of the Shares and that Purchaser is not relying on the Company for any tax advice. 

 6. Entire Agreement; Governing Law. The Plan and Option Agreement are incorporated herein by
reference. This Agreement, the Plan and the Option Agreement constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and Purchaser
with respect to the subject matter hereof, and may not be modified adversely to the Purchaser’s interest except by means of a writing signed by the Company and Purchaser. This agreement is governed by the internal substantive laws, but not the
choice of law rules, of California. 
  

					
	Submitted by:	  		 	Accepted by:
			
	PURCHASER:	  		 	RAMBUS INC.
	  
	  		 	  

	Signature	  		 	By
	  
	  		 	  

	Print Name	  		 	Title
			
	Address:	  		 	Address:
	  
	  		 	Rambus Inc.
	  
	  		 	4440 El Camino Real
		  		 	Los Altos, CA 94022
		  		 	  

		  		 	Date ReceivedOffer Letter of Thomas R. Lavelle

 Exhibit 10.9 
  

					
	

	  	  
 October 30, 2006
	  	

 Thomas R. Lavelle 
  
 Dear Tom: 
 We are pleased to offer you a position with
Rambus as Senior Vice President and General Counsel, contingent on the completion of the Reference and Criminal Background Check process. 
 Your starting base salary will be $25,000.00/month, which over a full year would equal $300,000.00. You will also have a target bonus of $200,000.00 annually, commencing in 2007. You will be eligible for Rambus’ standard benefits
package including insurance and 3 weeks annual vacation. 
 You will also receive a signing bonus of $150,000.00. This will be payable within
2 weeks of your start date. If you should terminate employment with Rambus for any reason other than your death or Disability (as such term is defined below) within one year of your start date, you will be required to repay a pro-rated portion of
the amount received, unless you become eligible to receive severance payments during the Severance Period (as such term is defined below) in which case the pro-rated portion will be automatically deducted from severance payments otherwise payable to
you as specified below. 
 Rambus will grant an option to you to purchase 200,000 shares of Rambus stock. The option grant will automatically
be made on the first market day of the first full month after your first day of employment at Rambus, and will be priced at 100% of the fair market value on such date. Your option will vest as follows: no option shares will vest in the first six
months; after six months 10% of the covered option shares will vest; after that option shares will vest each month at a linear rate such that all option shares have vested exactly five years after starting with Rambus. This is a standard vesting
schedule. All vesting is subject to your remaining a Service Provider, as defined in our 1997 Stock Plan (“Service Provider”), through the relevant vesting dates. Your option will otherwise have the standard terms and conditions of our
form stock option agreement under the 1997 Stock Plan. Any vesting will be delayed until such time as the S-8 registration statement covering shares issuable under the 1997 Stock Incentive Plan becomes effective (the “Compliance Date”);
provided, however, that the original vesting 

 
schedule set forth above shall be reinstated in full as of the Compliance Date (i.e., no option shares will vest in the first six months from your start
date; after six months 10% of the covered option shares will vest; after that option shares will vest each month at a linear rate such that all option shares have vested exactly five years after starting with Rambus). 
 Additionally, on the Compliance Date, Rambus will grant you 40,000 restricted stock units under the following vesting schedule: 10,000 shares will vest
on your twelve month anniversary, or the next open window, if closed; the remainder will vest in equal 10,000 share amounts on your anniversary in each of the following three years, or the next open window, if closed, subject to your remaining a
Service Provider through such vesting dates. Your restricted stock units will otherwise be subject to the standard terms and conditions of our form Restricted Stock Unit agreement under the 1997 Stock Plan. 
 Subject to your executing, not revoking and complying with a release of claims in favor of Rambus in substantially the form attached hereto as Exhibit
A, in the event your employment is terminated by Rambus during the period that ends 12 months following your start date (the “Severance Period”) other than for (i) “Cause,” or (ii) your death or “Disability”
(as such terms are defined herein), or in the event that within the Severance Period and following a Change of Control (as defined herein) you voluntarily terminate your employment following an Involuntary Termination (as such term is defined in our
1997 Stock Plan), then you shall receive severance payments of one year’s base salary and target bonus and, subject to your timely electing COBRA continuation coverage, 100% reimbursement for twelve months’ of COBRA premiums for you and
your covered dependents. Any such cash payments may be reduced by the portion of the sign-on bonus that you are required to repay. Severance payments and benefits may be delayed hereunder in order to comply with the provisions of Internal Revenue
Code Section 409A and the proposed or final regulations issued thereunder. 
 For the purposes of this offer letter agreement,
“Cause” shall mean (i) you are convicted of or pleas nolo contendere or guilty to a felony; (ii) you engage in conduct that constitutes willful gross neglect or willful gross misconduct, provided that no act or
failure to: act shall be considered “willful” under this definition unless you acted, or failed to act, with an absence of good faith and without a reasonable belief that your action, or failure to act, was in the best interest of Rambus;
(iii) an act of personal dishonesty taken by you in connection with your responsibilities as an employee and intended to result in your personal enrichment; (iv) following delivery to you of a written demand for performance from Rambus
which describes the basis for the Rambus’s reasonable belief that you have not substantially performed your duties, continued violations by you of your obligations to the Rambus which are demonstrably willful and deliberate on Executive’s
part; provided, however, that your failure to achieve certain results, such as the Rambus’s business plan, that is not the result of your demonstrably willful and deliberate dereliction of duty shall not constitute “Cause.”

 For the purposes of this offer letter agreement, “Change of Control” shall mean (i) any “person” (as such term is
used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of Rambus representing fifty percent
(50%) or more of the total voting power represented by Rambus’s then outstanding voting securities; (ii) a change in the composition of the Rambus Board of Directors occurring within a two-year period, 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 Rambus 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 the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or threatened proxy contest relating
to the election of directors of Rambus); (iii) the consummation of a merger or consolidation of Rambus with any other corporation, other than a merger or consolidation which would result in the voting securities of Rambus outstanding
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power represented by the voting securities
of Rambus or such surviving entity outstanding immediately after such merger or consolidation; or (iv) the consummation of the sale or disposition by Rambus of all or substantially all Rambus’s assets. 
 For the purposes of this offer letter agreement, “Disability” shall mean that the you have been unable to perform with reasonable accommodation
your duties as an employee of Rambus as the result of your incapacity due to physical or mental illness, and such inability, at least 26 weeks after its commencement, is determined to be total and permanent by a physician selected by Rambus or its
insurers and acceptable to you or your legal representative (such agreement as to acceptability not to be unreasonably withheld). 
 Enclosed
is a copy of our Employment, Confidential Information and Invention Assignment Agreement. This document assigns rights to all inventions to Rambus and requires you to keep confidential all matters regarding Rambus technology and business
relationships until Rambus has made such information public. Please read, sign, and return this agreement on your first day of work. 
 Also
enclosed is a copy of our Insider Trading Compliance Program and our Code of Business Conduct and Ethics. Please review, sign the acknowledgment forms, and return on your first day of work. 
 You agree that any dispute or controversy arising out of, relating to, or in connection with this offer letter agreement, or the interpretation,
validity, construction, performance, breach, or termination thereof, shall be finally settled by binding arbitration to be held in Santa Clara County, California under the Commercial Arbitration Rules, supplemented by the Supplemental Procedures for
Large Complex Disputes, of the American Arbitration Association as then in effect (the “Rules”). The arbitrator(s) may grant injunctions or other relief in such dispute or controversy. The decision of the arbitrator(s) shall be final,
conclusive and binding on the parties to the arbitration, and judgment may be entered on the decision of the arbitrator(s) in any court having jurisdiction. The arbitrator(s) shall apply California law to the merits of any dispute or claim, without
reference to rules of conflicts of law, and the arbitration proceedings shall be governed by federal arbitration law and by the Rules, without reference to state arbitration law. Rambus shall pay the costs and expenses of such arbitration, and each
party shall pay its own counsel fees and expenses. 
 You and Rambus understand and acknowledge that your employment with Rambus constitutes
“at-will” employment. Subject to the provision of any severance benefits required above, you and Rambus acknowledge that this employment relationship may be terminated at any time, with or without good cause or notice or for any or no
cause, at the option of either you or Rambus. 

 You represent that you (a) are not a party to an employment agreement or other contract or
arrangement which prohibits your full time employment with Rambus, and (b) do no know of any conflict which would restrict your employment with Rambus. 
 This offer letter agreement, the agreements relating to your stock option and restricted stock unit awards referenced herein, the Confidential Information and Invention Assignment Agreement, our Insider Trading
Compliance Program and our Code of Business Conduct and Ethics represent the entire agreement and understanding between you and Rambus as to the subject matter hereof, and supersede all prior or contemporaneous agreements, whether written or oral.
No waiver, alteration, or modification, if any, of the provisions of this offer letter agreement shall be binding unless in writing and signed by duly authorized representatives of you and Rambus. 
 This offer letter agreement shall be governed by and construed in accordance with the internal substantive laws, but not the choice of law rules, of the
State of California. You hereby consent to the personal jurisdiction of the state and federal courts located in California for any action or proceeding arising from or relating to this offer letter agreement or relating to any arbitration in which
you and Rambus are participants. 
 Federal legislation requires all employers to verify the authorization to work of all employees. Under
this law, you will be required to furnish documentation within 72 hours of starting work. 
 If you wish to accept employment at Rambus under
the terms set out above, please sign and date this letter and return it to me no later than Friday, November 3, 2006, keeping the copy for your records. If you accept our offer we would like you to start as soon as possible. 
 Tom, I know you can do a great job for us. I believe Rambus is an excellent company that can provide you with a continuing challenge and opportunity for
personal growth. 
  

					
		  		 	 Sincerely,
  

		  		 	 /s/ Harold Hughes

		  		 	 CEO

			
	I have read and accept the above:	  		 	
			
	 /s/ Thomas R. Lavelle
	  		 	 10/31/06

	Signature	  		 	Date Signed
	  
	  		 	
	Start Date

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