Document:

EX-10.3

 Exhibit 10.3 

PRESIDENT’S AWARD AGREEMENT 

This PRESIDENT’S AWARD AGREEMENT (this “Agreement”) is entered into on this [•] day of [•], 2018 by and
between The Navigators Group, Inc., a Delaware corporation (the “Company”), and [•] (“Employee”). Capitalized terms used but not otherwise defined herein have the meanings ascribed to such terms in
Section 8 hereof. 
 WHEREAS, Employee is a key employee of the Company, and the Company has determined that it is in the best interest
of the Company to secure Employee’s continued services and to ensure Employee’s continued dedication to the Company. 
 NOW,
THEREFORE, in consideration of the mutual covenants and conditions contained in this Agreement, the Company and Employee hereby agree as follows: 

1. President’s Award. 

(a) In consideration of Employee’s continued employment and performance, Employee shall be entitled to a cash bonus in the minimum target
vesting amount of $[•], subject to adjustment pursuant to the Performance Goals as described in Section 2 below (the “President’s Award”), if Employee remains in continuous employment with the Company during the
period beginning on the date of this Agreement and ending on June 30, 2022 (the “Payment Date”). 
 (b) Except as
otherwise determined by the Compensation Committee of the Board of Directors of the Company (the “Committee”), or as provided herein, if Employee’s termination of service with the Company and its affiliates occurs prior to the
Payment Date, the President’s Award will be immediately forfeited. 
 2. Performance Goals. 

(a) The amount of the President’s Award that shall become payable, if any, on the Payment Date will be based on the Growth and
Profitability (the “Performance Goals”) of the [•] Division (the “Division”) over the thirty-six (36) month period from January 1, 2019 through
December 31, 2021 (the “Performance Period”), as measured by the Committee, in accordance with the schedule listed below. 

(b) Determination of the ultimate vesting amount of the Performance Award shall be based on Growth and Profitability as follows: 

 

							
	 	  	Growth (Average GWP Growth)
	 Profitability (Average C/R)
	  	<5%	 	5.01-9.9%	 	10% and >
	 100% and >
	  	100%	 	100%	 	100%
	 95-99.9%
	  	115%	 	125%	 	135%
	 94.9% and <
	  	120%	 	135%	 	150%

 i. For purposes of Section 2(a), “Growth” will be determined
based on the average year over year growth in the Division’s Gross Written Premium (“GWP”) for each calendar year during the Performance Period, with the starting measurement being January 1, 2019. The measurement of GWP
shall be based on the GAAP calendar year figures for the Division as reported by Finance. 
 ii. For purposes of
Section 2(a), “Profitability” will be determined using the average Combined Ratio (“C/R”) for the Division as measured on the GAAP calendar year figures during the Performance Period as reported by Finance. 

(c) In its sole discretion, the Committee may make adjustments in recognition of certain events affecting achievement of the Performance Goals
or in response to changes in applicable laws, regulations or accounting principles. 
 (d) Subject to the terms of this Agreement, if the
Committee determines that the conditions to payment of the President’s Award have been met, the Company shall issue to Employee an amount of cash payable according to the achievement of the Performance Goal as set forth above. The
President’s Award is payable in a single cash payment as soon as administratively possible after the Payment Date (but in no event later than 30 days after the Payment Date). 

(e) For purposes of this Agreement, employment with the Company shall be deemed to include employment with any of its affiliates. 

3. Non-Solicitation and Non-Hiring of Company’s
Employees. Employee covenants and agrees that, while employed by Company and for a period of one year thereafter (the “Restricted Period”), Employee will not, directly or indirectly, solicit, hire, or assist any other party in
soliciting or hiring, any employee of the Company, or otherwise seeking to influence any employee of the Company to terminate employment with the Company or to become employed by any other party. 

4. Non-Solicitation of Customers, Agents and Others. 

(a) Employee covenants and agrees that, during the Restricted Period, Employee shall not solicit any Protected Person (as defined herein) for
the purpose of selling to or through such Protected Person any insurance coverage which has been offered for sale by the Company during Employee’s employment with the Company. “Protected Person” for purposes of this Agreement,
means any person, entity or business which was an existing or prospective customer, agent, insured, client, broker or agent of the Company at any time during the period commencing twelve (12) months prior to the termination of Employee’s
employment with the Company, including any persons, corporations, partnerships, firms, businesses or entities for whom or through whom the Company engages in the business of providing insurance or conducting related business or for whom or through
whom the Company actively sought or seeks to engage in such business during the period commencing twelve (12) months prior to the termination of Employee’s employment with the Company, and any agents and subagents of the Company,
notwithstanding that such persons or entities may have been induced to enter into a business relationship with the Company by the efforts of Employee or someone on his behalf; provided, however, that “Protected Person” shall
not include any person or entity as to whom Employee never dealt with (or otherwise solicited) while in the Company’s employ and never received confidential information from the Company concerning such person or entity. 

  
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 (b) The restrictions in this Section 4 shall be limited to any county of any state or
any comparable jurisdiction of any foreign country in which the Company, directly or through subsidiaries or affiliates, during the period of Employee’s employment with the Company or during the Restricted Period, has been or is engaged in the
business of providing insurance or conducting related business. Notwithstanding the foregoing, the restrictions set forth in this Section 4 shall not apply to any jurisdiction whose laws prohibit enforcement of such restrictions. 

5. Change in Control. 

(a) In the event of a Change in Control, the Payment Date hereunder shall be the date that is one year from the date of the Change in Control
(the “CIC Payment Date”). 
 (b) If a Change in Control shall occur: 

i. prior to January 1, 2020, the President’s Award hereunder will be the minimum target vesting amount set forth in
Section 1(a), without adjustment under Section 2(b); 
 ii. on or after January 1, 2020, the President’s
Award hereunder will be determined under Section 2(b) based on achievement of the Performance Goals through the date of the Change in Control and the Performance Period shall be modified accordingly. 

(c) Notwithstanding anything else contained herein, Employee will be entitled to receive the President’s Award (as determined in
accordance with Section 5(b) and payable within 60 days following Employee’s separation from service) if: 
 i. the
Company terminates Employee’s employment without Cause after the Change in Control but prior to the CIC Payment Date; or 

ii. Employee resigns from employment with the Company for Good Reason after the Change in Control but prior to the CIC Payment
Date. 
 6. Death or Disability. Upon Employee’s death or Disability, the President’s Award shall vest immediately
(a) at the minimum target vesting amount, if Employee’s death or Disability occurs on or prior to the end of the Performance Period, or (b) based on the achievement of the Performance Goals through the end of the Performance Period,
if Employee’s death or Disability occurs after the end of the Performance Period, in each case, payable within 60 days following Employee’s death or Disability, as applicable. 

7. Withholding Taxes. The Company shall withhold or arrange for one of its affiliates to withhold from the payment due to Employee (or
Employee’s heirs or legal representative) hereunder all taxes which, by applicable federal, state, local or other law, are required to be withheld therefrom. 

  
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 8. Definitions. The terms used in this Agreement shall have the following meanings:

 (a) “Cause” shall mean, as determined by the Company, the occurrence of any one of the following: (a) any act of
dishonesty, willful misconduct, gross negligence, intentional or conscious abandonment or neglect of duty; (b) commission of a criminal activity, fraud, embezzlement or any act of moral turpitude (including but not limited to violations of the
Company’s sexual harassment or discrimination policies); (c) a failure to reasonably cooperate in any investigation or proceeding concerning the Company; (d) any unauthorized disclosure or use of confidential information or trade secrets;
or (e) any violation of any restrictive covenant, such as a non-compete, non-solicit or non-disclosure agreement, between
Employee and the Company or its affiliates; provided, however, that in the event Employee is party to an employment agreement with the Company or its affiliates that contains a different definition of Cause, the definition of Cause
contained in such employment agreement shall be controlling. 
 (b) “Change in Control” shall mean the occurrence of one or
more of the following: 
  

	 	i.	 A Change in the Ownership of the Company. A change in ownership of the Company shall occur on the date
that any one Person, or more than one Person acting as a “Group” (as defined below), acquires ownership of stock of the Company that, together with stock held by such Person or Group, constitutes more than 50% of the total fair market
value or total voting power of the stock of the Company; provided, however, that, if any one Person, or more than one Person acting as a Group, is considered to own more than 50% of the total fair market value or total voting power of
the stock of the Company, the acquisition of additional stock by the same Person or Persons is not considered to cause a change in the ownership of the Company. 

 

	 	ii.	 A Change in the Effective Control of the Company. A change in the effective control of the Company
occurs on the date that either: (i) any one Person, or more than one Person acting as a Group, acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition by
such Person or Persons) ownership of stock of the Company possessing 35% or more of the total voting power of the stock of the Company; provided, however, that, if any one Person, or more than one Person acting as a Group, is considered to
effectively control the Company, the acquisition of additional control of the Company by the same Person or Persons is not considered a change in the effective control of the Company; or (ii) a majority of the members of the Company’s
Board is replaced during any 12-month period by directors whose appointment or election is not endorsed by a majority of the members of the Company’s Board prior to the date of the appointment or
election; provided, however, that, if one Person, or more than one Person acting as a Group, is considered to effectively control the Company, the acquisition of additional control of the Company by the same Person or Persons is not
considered a change in the effective control of the Company. 

  
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	 	iii.	 A Change in the Ownership of a Substantial Portion of the Company’s Assets. A change in the
ownership of a substantial portion of the Company’s assets occurs on the date that any one Person, or more than one Person acting as a Group, acquires (or has acquired during the 12-month period ending on
the date of the most recent acquisition by such Person or Persons) assets from the Company that have a total Gross Fair Market Value (as defined below) equal to all or substantially all of the total Gross Fair Market Value of all of the assets of
the Company immediately prior to such acquisition or acquisitions; provided, however, that, a transfer of assets by the Company is not treated as a change in the ownership of such assets if the assets are transferred to: (i) a stockholder of
the Company (immediately before the asset transfer) in exchange for or with respect to its stock; (ii) an entity, 50% or more of the total Fair Market Value or voting power of which is owned, directly or indirectly, by the Company; (iii) a
Person, or more than one Person acting as a Group, that owns, directly or indirectly, 50% or more of the total Fair Market Value or voting power of all the outstanding stock of the Company; or (iv) an entity, at least 50% of the total Fair
Market Value or voting power of which is owned, directly or indirectly, by a Person described in clause (iii) of this Section 8.3(b)(iii). 

For purposes of this definition, “Gross Fair Market Value” means the value of the assets of the Company, or the value of the assets being
disposed of, determined without regard to any liabilities associated with such assets. 
 For purposes of this definition, “Group” has the
meaning ascribed to such term in Treas. Reg. Section 1.409A-3(i)(5)(v)(B), (vi)(D) or (vii)(C), as applicable. 

For purposes of this definition, “Person” means any individual, sole proprietorship, corporation, partnership, joint venture, limited
liability company, association, joint-stock company, trust, unincorporated organization, institution, public benefit corporation, entity or government instrumentality, division, agency, body or department. 

To the extent this Agreement could be subject to Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance
thereunder (“Section 409A”) and does not qualify for any exemption from the provision of Section 409A, stock ownership shall be determined under Section 409A. 

(c) “Disability” shall mean, as determined by the Company, a mental or physical illness that entitles Employee to receive
benefits under the long-term disability plan of the Company (or is affiliates), or if Employee is not covered by such a plan or Employee, a mental or physical illness that renders Employee totally and permanently incapable of performing
Employee’s duties for the Company. 

  
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 (d) “Good Reason” shall mean shall mean any of the following actions taken
by the Company, without the consent of Employee: 
  

	 	i.	 a material diminution in Employee’s base compensation or short-term incentive target;

  

	 	ii.	 a change in Employee’s principal place of employment by a distance in excess of fifty (50) miles from
its location immediately prior to the Closing; 

  

	 	iii.	 any other action or inaction that constitutes a material breach by the Company of an agreement under which
Employee provides services to the Company; or 

  

	 	iv.	 the failure by the Company to obtain the assumption of and agreement to perform this Agreement by any successor
as contemplated in Section 10(d). 

 In order to invoke a termination for Good Reason, Employee shall provide written
notice to the Company of the existence of one or more of the conditions described in clauses (i) through (iv) within 15 days following Employee’s knowledge of the initial existence of such condition or conditions, specifying in
reasonable detail the conditions constituting Good Reason, and the Company shall have 30 days following receipt of such written notice during which it may remedy the condition. 

9. Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly
given when delivered or mailed by certified or registered mail, return receipt requested, postage prepaid, addressed to the respective addresses set forth below: 

To the Company: 

The Navigators Group, Inc. 

400 Atlantic Street, 8th Floor 

Stamford, Connecticut 06901 

Attn: General Counsel 

To Employee: 
 At
the most recent address on file at the Company. 

  
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 10. Miscellaneous. 

(a) Confidentiality. This Agreement and its terms shall be kept confidential by Employee, except that Employee may disclose the terms
of this Agreement to Employee’s attorneys and accountants. Notwithstanding the foregoing, nothing in this Agreement shall prohibit Employee from confidentially or otherwise (without informing the Company) communicating or filing a charge or
complaint with a governmental agency or regulatory entity, participating in a governmental agency or regulatory investigation, or giving truthful testimony or disclosures to a governmental agency or regulatory entity, or if properly subpoenaed or
otherwise required to do so under applicable law. 
 (b) Entire Agreement. This Agreement embodies the entire understanding, and
supersedes all other oral or written agreements or understandings, among the parties regarding the subject matter hereof. Nothing in this Agreement shall affect the other compensation and benefits to which Employee is eligible as an employee of the
Company, including without limitation annual performance-based bonuses. The President’s Award shall not be considered compensation for purposes of any benefit plan, program, policy, or arrangement maintained or hereafter established by the
Company or its affiliates except as expressly provided under such plan, program, policy or arrangement. 
 (c) Amendment; Waiver.
This Agreement may not be amended, supplemented, cancelled or discharged, except by written instrument executed by both parties, except that this Agreement may be amended by the Company without Employee’s consent to the extent required or
advisable by applicable law. No failure to exercise, and no delay in exercising, any right, power or privilege hereunder shall operate as a waiver thereof. No waiver of any breach of any provision of this Agreement shall be deemed to be a waiver of
any preceding or succeeding breach of the same or any other provision. 
 (d) Binding Effect; Assignment. The rights and obligations
of this Agreement shall bind and inure to the benefit of any successor of the Company by reorganization, merger or consolidation, or any assignee of all or substantially all of the Company’s business and properties. The Company may assign its
rights and obligations under this Agreement to any of its affiliated companies without the consent of Employee, but the Company shall remain liable for any payments provided hereunder not timely made by any assignee. Employee’s rights or
obligations under this Agreement may not be assigned by Employee. 
 (e) Further Assurances. Both parties agree to execute,
acknowledge, deliver and perform, and cause to be executed, acknowledged, delivered and performed, at any time and from time to time, as the case may be, all such further acts, deeds, assignments, transfers, conveyances, powers of attorney and
assurances as may be reasonably necessary to carry out the provisions or intent of this Agreement. 
 (f) Section 409A. This
Agreement is intended to comply with Section 409A or an exemption therefrom and shall be construed and administered in accordance with this intent. 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 

  
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409A. In the event the terms of this Agreement would subject Employee to taxes or penalties under Section 409A (“409A Penalties”), the Company may modify the terms of this
Agreement to avoid such 409A Penalties, to the extent possible; provided that the Company makes no representations that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall the Company be
responsible for any 409A Penalties that arise in connection with any amounts payable under this Agreement. Notwithstanding any other provision of this Agreement, if any payment provided to Employee in connection with Employee’s termination of
employment is determined to constitute “nonqualified deferred compensation” within the meaning of Section 409A and Employee is determined to be a “specified employee” as defined in Section 409A(a)(2)(b)(i) who is
subject to a six-month delay in payment, then such payment shall not be paid until the first payroll date to occur following the six-month anniversary of Employee’s
termination of employment or, if earlier, on Employee’s death. 
 (g) Headings. The headings contained in this Agreement are for
reference purposes only and shall not affect the meaning or interpretation of this Agreement. 
 (h) Governing Law; Validity. The
interpretation, construction and performance of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of [•] without regard to the principle of conflicts of laws. The invalidity or
unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provisions of this Agreement, which other provisions shall remain in full force and effect. 

(i) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original and all of which
together shall constitute one and the same instrument. 
 * * * * * * 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

			
	The Navigators Group, Inc.
		
	By:	 	 
		 	Name:
		 	Title:

  

	
	EMPLOYEE
	
	   

	 [•]EX-10.4

 Exhibit 10.4 

SEPARATION AGREEMENT & RELEASE 

This Separation Agreement and Release (“Agreement”) is made by and between DAVID T. MITCHELL (“Employee”) and FABRINET, a
Cayman Islands exempted company (the “Company”) (collectively referred to as the “Parties” or individually referred to as a “Party”). 

RECITALS 
 WHEREAS,
Employee was employed by the Company; 
 WHEREAS, Employee signed an amended and restated employment agreement with the Company on
May 25, 2015, as further amended August 12, 2016 (the “Offer Letter”); 
 WHEREAS, Employee signed an Employment
Agreement with Fabrinet (a California corporation) on January 1, 2000, which was assigned to and assumed by the Company on December 31, 2005 (the “Employment Agreement”); 

WHEREAS, the Company granted Employee certain restricted share unit (“RSU”) awards and certain performance-based restricted share
unit (“PSU”) awards, as set forth in Exhibit A attached to this Agreement, under the Company’s 2010 Performance Incentive Plan (the “Plan”) and subject to an applicable RSU or PSU award agreement thereunder (together
with the Plan, the “Stock Agreements”), each of which are outstanding as of the Transition Date (as defined below). 
 WHEREAS,
the Employee’s employment with the Company terminated effective June 29, 2018 (the “Transition Date”); and 
 WHEREAS, the
Parties wish to resolve any and all claims, disputes, complaints, grievances, charges, actions, petitions, and/or demands the Employee may have against the Company and any of the Releasees as defined below, including, but not limited to, any and all
claims arising out of or in any way related to Employee’s employment with or separation from the Company. 
 NOW, THEREFORE, in
consideration of the mutual promises made herein, the Company and Employee hereby agree as follows: 
 COVENANTS 

1.    Consideration. 
  

	 	a.	 Payment. The Company agrees to pay Employee (i) a total of One Million Nine Hundred Thousand
dollars ($1,900,000.00), representing: twenty-four (24) months of Employee’s base salary; any earned but unpaid bonus as of the Transition Date; and (ii) the balance of two times Employee’s
cost of COBRA coverage for twelve (12) months under his Company provided health insurance plan in effect as of the Transition Date, less a deduction for the amounts paid by the Company for such COBRA health insurance coverage after the
Transition Date as requested by Employee; all less any applicable withholdings. In addition, the Employee will remain eligible to receive any continued tax equalization benefits under Fabrinet’s expatriate policy in effect as of the Transition
Date, in accordance with the terms and conditions thereof. 

	 	b.	 Acknowledgement. Employee acknowledges that, without this Agreement, Employee is otherwise not entitled
to the consideration described and itemized in this Section 1. 

 2.    Equity Awards. The Parties agree
that the RSU and PSU awards set forth in Exhibit A attached to this Agreement constitute all of the Employee’s equity awards granted to him by the Company that remain outstanding as of the Transition Date. The Parties agree
that these RSU and PSU awards shall remain subject to the terms and conditions of the Stock Agreements, including their vesting requirements. 

3.    Benefits. Employee’s health insurance benefits shall cease on June 29, 2018, subject to Employee’s right to
continue Employee’s health insurance under COBRA. As requested by Employee, the Company has enrolled Employee and his dependent’s in and advance paid for such a COBRA coverage until December 31, 2019. Employee’s participation in
all benefits and incidents of employment, including, but not limited to, the accrual of bonuses, vacation, and paid time off, ceased as of the Transition Date (provided that the vesting of the Employee’s RSU and PSU awards set forth in
Section 2 above remain subject to the terms and conditions of the Stock Agreements). 
 4.    Payment of
Salary & Receipt of All Benefits. Employee acknowledges and represents that, other than the consideration set forth in this Agreement, the Company has paid or provided all salary, wages, bonuses, accrued vacation/paid time
off, premiums, leaves, housing allowances, relocation costs, interest, severance, outplacement costs, fees, reimbursable expenses, commissions, stock, stock options, equity-based awards, vesting, and any and
all other benefits and compensation due to Employee. 
 5.    Release of Claims. Employee agrees that the foregoing consideration
represents settlement in full of all outstanding obligations owed to Employee by the Company and its current and former officers, directors, employees, agents, investors, attorneys, shareholders, administrators, affiliates, benefit plans, plan
administrators, professional employer organization or co-employer, insurers, trustees, divisions, subsidiaries, predecessor and successor corporations, and assigns (collectively, the
“Releasees”). Employee, on Employee’s own behalf and on behalf of Employee’s respective heirs, family members, executors, agents, and assigns, hereby and forever releases the Releasees from, and agrees not to sue concerning, or
in any manner to institute, prosecute, or pursue, any claim, complaint, charge, duty, obligation, demand, or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that Employee may possess
against any of the Releasees arising from any omissions, acts, facts, or damages that have occurred up until and including the Effective Date of this Agreement, including, without limitation: 

 

	 	a.	 any and all claims relating to or arising from Employee’s employment relationship with the Company and the
termination of that relationship; 

  

	 	b.	 any and all claims relating to, or arising from, Employee’s right to purchase, or actual purchase of
shares of stock of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any state or federal law;

  

	 	c.	 any and all claims for wrongful discharge of employment, termination in violation of public policy,
discrimination, harassment, retaliation, breach of contract (both express and implied), breach of covenant of good faith and fair dealing (both express and implied), promissory estoppel, negligent or intentional infliction of emotional distress,

  
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fraud, negligent or intentional misrepresentation, negligent or intentional interference with contract or prospective economic advantage, unfair business practices, defamation, libel, slander,
negligence, personal injury, assault, battery, invasion of privacy, false imprisonment, conversion, and disability benefits; 

  

	 	d.	 any and all claims for violation of any federal, state, or municipal statute, including, but not limited to,
Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Rehabilitation Act of 1973, the Americans with Disabilities Act of 1990, the Equal Pay Act, the Fair Labor Standards Act, the Fair Credit Reporting Act, the Age
Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the Employee Retirement Income Security Act of 1974, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, the Immigration Reform
and Control Act, the National Labor Relations Act, the California Family Rights Act, the California Labor Code, the California Workers’ Compensation Act, and the California Fair Employment and Housing Act; 

 

	 	e.	 any and all claims for violation of the federal or any state constitution; 

 

	 	f.	 any and all claims arising out of any other laws and regulations relating to employment or employment
discrimination; 

  

	 	g.	 any claim for any loss, cost, damage, or expense arising out of any dispute over the non-withholding or other
tax treatment of any of the proceeds received by Employee as a result of this Agreement; and 

  

	 	h.	 any and all claims for attorneys’ fees and costs. 

Employee agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the matters
released. This release does not extend to any obligations incurred under this Agreement. This release does not release claims that cannot be released as a matter of law, including, but not necessarily limited to, any Protected Activity (as defined
below) or any rights to indemnification by the Company that the Employee may have in connection with his role as an officer or member of the board of directors of the Company. Any and all disputed wage claims that are released herein shall be
subject to binding arbitration in accordance with section 18, except as required by applicable law. This release does not extend to any right Employee may have to unemployment compensation benefits. 

6.    Acknowledgment of Waiver of Claims under ADEA. Employee acknowledges that Employee is waiving and releasing any rights
Employee may have under the Age Discrimination in Employment Act of 1967 (“ADEA”), and that this waiver and release is knowing and voluntary. Employee agrees that this waiver and release does not apply to any rights or claims that may
arise under the ADEA after the Effective Date of this Agreement. Employee acknowledges that the consideration given for this waiver and release is in addition to anything of value to which Employee was already entitled. Employee further acknowledges
that Employee has been advised by this writing that: (a) Employee should consult with an attorney prior to executing this Agreement; (b) Employee has twenty-one (21) days within which to
consider this Agreement; (c) Employee has seven (7) days following Employee’s execution of this Agreement to revoke this Agreement; (d) this Agreement shall not be effective until after the revocation period has expired; and
(e) nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does it impose any condition precedent, penalties, or costs for doing so,
unless specifically authorized by federal law. In the event Employee signs this Agreement and returns it to the Company in less than the 21-day period identified above,

  
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Employee hereby acknowledges that Employee has freely and voluntarily chosen to waive the time period allotted for considering this Agreement. Employee acknowledges and understands that
revocation must be accomplished by a written notification to the person executing this Agreement on the Company’s behalf that is received prior to the Effective Date. The Parties agree that changes, whether material or immaterial, do not
restart the running of the 21-day period. 
 7.    California Civil Code
Section 1542. Employee acknowledges that Employee has been advised to consult with legal counsel and is familiar with the provisions of California Civil Code Section 1542, a statute that otherwise prohibits the release of
unknown claims, which provides as follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO
EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 

Employee, being aware of said code section, agrees to expressly waive any rights Employee may have thereunder, as well as under any other statute or common law
principles of similar effect. 
 8.    No Pending or Future Lawsuits. Employee represents that Employee has no lawsuits, claims,
or actions pending in Employee’s name, or on behalf of any other person or entity, against the Company or any of the other Releasees. Employee also represents that Employee does not intend to bring any claims on Employee’s own behalf or on
behalf of any other person or entity against the Company or any of the other Releasees. 
 9.    Application for Employment.
Employee understands and agrees that, as a condition of this Agreement, Employee shall not be entitled to any employment with the Company, and Employee hereby waives any right, or alleged right, of employment or
re-employment with the Company. Employee further agrees not to apply for employment with the Company and not otherwise pursue an independent contractor or vendor relationship with the Company. 

10.    Confidentiality. Subject to section 13 governing Protected Activity, Employee agrees to maintain in complete confidence the
existence of this Agreement, the contents and terms of this Agreement, and the consideration for this Agreement (hereinafter collectively referred to as “Separation Information”). Except as required by law, Employee may disclose Separation
Information only to Employee’s immediate family members, the Court in any proceedings to enforce the terms of this Agreement, Employee’s attorney(s), and Employee’s accountant(s) and any professional tax advisor(s) to the extent that
they need to know the Separation Information in order to provide advice on tax treatment or to prepare tax returns and must prevent disclosure of any Separation Information to all other third parties. Employee agrees that Employee will not
publicize, directly or indirectly, any Separation Information. 
 11.    Trade Secrets & Confidential
Information. Employee reaffirms and agrees to observe and abide by the terms of the Confidentiality Agreement, specifically including the provisions therein regarding nondisclosure of the Company’s trade secrets and confidential and
proprietary information, and non-solicitation of Company employees. 

  
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 12.    No Cooperation. Subject to section 13 governing Protected Activity, Employee
agrees that Employee will not knowingly encourage, counsel, or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against any of the
Releasees, unless under a subpoena or other court order to do so or as related directly to the ADEA waiver in this Agreement. Employee agrees both to immediately notify the Company upon receipt of any such subpoena or court order, and to furnish,
within three (3) business days of its receipt, a copy of such subpoena or other court order. If approached by anyone for counsel or assistance in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or
complaints against any of the Releasees, Employee shall state no more than that Employee cannot provide counsel or assistance. 

13.    Protected Activity Not Prohibited. Employee understands that nothing in this Agreement shall in any way limit or prohibit
Employee from engaging in any Protected Activity, including filing a charge, complaint, or report with, or otherwise communicating, cooperating, or participating in any investigation or proceeding that may be conducted by, any federal, state or
local government agency or commission, including the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor Relations Board (“Government
Agencies”). Employee understands that in connection with such Protected Activity, Employee is permitted to disclose documents or other information as permitted by law, without giving notice to, or receiving authorization from, the Company.
Notwithstanding the foregoing, Employee agrees to take all reasonable precautions to prevent any unauthorized use or disclosure of any information that may constitute Company confidential information under the Confidentiality Agreement to any
parties other than the Government Agencies. Employee further understands that “Protected Activity” does not include the disclosure of any Company attorney-client privileged communications or attorney work product. Any language in the
Confidentiality Agreement regarding Employee’s right to engage in Protected Activity that conflicts with, or is contrary to, this section is superseded by this Agreement. In addition, pursuant to the Defend Trade Secrets Act of 2016, Employee
is notified that an individual will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made in confidence to a federal, state, or local government official
(directly or indirectly) or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if (and only if) such
filing is made under seal. In addition, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the individual’s attorney and use the trade secret information
in the court proceeding, if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order. 

14.    Non-disparagement. Employee agrees to refrain from any disparagement, defamation, libel, or slander of any of
the Releasees, and agrees to refrain from any tortious interference with the contracts and relationships of any of the Releasees. Employee shall direct any inquiries by potential future employers to the Company’s human resources department.

 15.    Breach. In addition to the rights provided in the “Attorneys’ Fees” section below, Employee acknowledges
and agrees that any material breach of this Agreement, unless such breach constitutes a legal action by Employee challenging or seeking a determination in good faith of the validity of the waiver herein under the ADEA, or of any provision of the
Confidentiality Agreement shall entitle the Company immediately to recover and/or cease providing the consideration provided to Employee under this Agreement and to obtain damages, except as provided by law. 

  
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 16.    No Admission of Liability. Employee understands and acknowledges that this
Agreement constitutes a compromise and settlement of any and all actual or potential disputed claims by Employee. No action taken by the Company hereto, either previously or in connection with this Agreement, shall be deemed or construed to be
(a) an admission of the truth or falsity of any actual or potential claims or (b) an acknowledgment or admission by the Company of any fault or liability whatsoever to Employee or to any third party. 

17.    Costs. The Parties shall each bear their own costs, attorneys’ fees, and other fees incurred in connection with the
preparation of this Agreement. 
 18.    ARBITRATION. EXCEPT AS PROHIBITED BY LAW, THE PARTIES AGREE THAT ANY AND ALL DISPUTES
ARISING OUT OF THE TERMS OF THIS AGREEMENT, THEIR INTERPRETATION, EMPLOYEE’S EMPLOYMENT WITH THE COMPANY OR THE TERMS THEREOF, OR ANY OF THE MATTERS HEREIN RELEASED, SHALL BE SUBJECT TO ARBITRATION UNDER THE FEDERAL ARBITRATION ACT (THE
“FAA”) AND THAT THE FAA, INCLUDING ITS PROCEDURAL PROVISIONS FOR COMPELLING ARBITRATION, SHALL GOVERN AND APPLY TO THIS ARBITRATION AGREEMENT (INCLUDING COMPELLING ARBITRATION IN STATE OR FEDERAL COURT) WITH FULL FORCE AND EFFECT. YOU
AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY LAW, YOU MAY BRING ANY SUCH ARBITRATION PROCEEDING ONLY IN YOUR INDIVIDUAL CAPACITY. ANY ARBITRATION WILL OCCUR IN SANTA CLARA COUNTY, CALIFORNIA, BEFORE JAMS, PURSUANT TO ITS EMPLOYMENT ARBITRATION
RULES & PROCEDURES (“JAMS RULES”), EXCEPT AS EXPRESSLY PROVIDED IN THIS SECTION. THE PARTIES AGREE THAT THE ARBITRATOR SHALL HAVE THE POWER TO DECIDE ANY MOTIONS BROUGHT BY ANY PARTY TO THE ARBITRATION, INCLUDING MOTIONS FOR
SUMMARY JUDGMENT AND/OR ADJUDICATION, AND MOTIONS TO DISMISS AND DEMURRERS, APPLYING THE STANDARDS SET FORTH UNDER THE CALIFORNIA CODE OF CIVIL PROCEDURE. THE PARTIES AGREE THAT THE ARBITRATOR SHALL ISSUE A WRITTEN DECISION ON THE MERITS. THE
PARTIES ALSO AGREE THAT THE ARBITRATOR SHALL HAVE THE POWER TO AWARD ANY REMEDIES AVAILABLE UNDER APPLICABLE LAW, AND THAT THE ARBITRATOR MAY AWARD ATTORNEYS’ FEES AND COSTS TO THE PREVAILING PARTY, WHERE PERMITTED BY APPLICABLE LAW. THE
ARBITRATOR MAY GRANT INJUNCTIONS AND OTHER RELIEF IN SUCH DISPUTES. THE DECISION OF THE ARBITRATOR SHALL BE FINAL, CONCLUSIVE, AND BINDING ON THE PARTIES TO THE ARBITRATION. THE PARTIES AGREE THAT THE PREVAILING PARTY IN ANY ARBITRATION SHALL BE
ENTITLED TO INJUNCTIVE RELIEF IN ANY COURT OF COMPETENT JURISDICTION TO ENFORCE THE ARBITRATION AWARD. I UNDERSTAND THAT THE PARTIES TO THE ARBITRATION SHALL EACH PAY AN EQUAL SHARE OF THE COSTS AND EXPENSES OF SUCH ARBITRATION, AND EACH PARTY SHALL
SEPARATELY PAY FOR ITS RESPECTIVE COUNSEL FEES AND EXPENSES; PROVIDED, HOWEVER, THAT THE ARBITRATOR MAY AWARD ATTORNEYS’ FEES AND COSTS TO THE PREVAILING PARTY, EXCEPT AS PROHIBITED BY LAW. THE PARTIES HEREBY

  
 -6- 

 
AGREE TO WAIVE THEIR RIGHT TO HAVE ANY DISPUTE BETWEEN THEM RESOLVED IN A COURT OF LAW BY A JUDGE OR JURY. NOTWITHSTANDING THE FOREGOING, THIS SECTION WILL NOT PREVENT EITHER PARTY FROM SEEKING
INJUNCTIVE RELIEF (OR ANY OTHER PROVISIONAL REMEDY) FROM ANY COURT HAVING JURISDICTION OVER THE PARTIES AND THE SUBJECT MATTER OF THEIR DISPUTE RELATING TO THIS AGREEMENT AND THE AGREEMENTS INCORPORATED HEREIN BY REFERENCE. SHOULD ANY PART OF THE
ARBITRATION AGREEMENT CONTAINED IN THIS SECTION CONFLICT WITH ANY OTHER ARBITRATION AGREEMENT BETWEEN THE PARTIES, INCLUDING, BUT NOT LIMITED TO THE ARBITRATION SECTION OF THE CONFIDENTIALITY AGREEMENT, THE PARTIES AGREE THAT THIS ARBITRATION
AGREEMENT IN THIS SECTION SHALL GOVERN. 
 19.    Tax Consequences. The Company makes no representations or warranties with
respect to the tax consequences of the payments and any other consideration provided to Employee or made on Employee’s behalf under the terms of this Agreement. Employee agrees and understands that Employee is responsible for payment, if any,
of local, state, and/or federal taxes on the payments and any other consideration provided hereunder by the Company and any penalties or assessments thereon. Employee further agrees to indemnify and hold the Releasees harmless from any claims,
demands, deficiencies, penalties, interest, assessments, executions, judgments, or recoveries by any government agency against the Company for any amounts claimed due on account of (a) Employee’s failure to pay or delayed payment of
federal or state taxes, or (b) damages sustained by the Company by reason of any such claims, including attorneys’ fees and costs. The Parties agree and acknowledge that the payments made pursuant to section 1 of this Agreement are not
related to sexual harassment or sexual abuse and not intended to fall within the scope of 26 U.S.C. Section 162(q). 

20.    Section 409A. It is intended that this Agreement comply with, or be exempt from, Internal Revenue Code Section 409A and
the final regulations and guidance promulgated thereunder (“Section 409A”) and any ambiguities or ambiguous terms herein will be interpreted to so comply or be exempt from Section 409A. Each payment and benefit to be paid or
provided under this Agreement is intended to constitute a series of separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury Regulations. The cash severance amount, less any applicable
withholdings, set forth in Section 1 of this Agreement will be paid on the sixtieth (60th) day following the Transition Date. Any payments by the Company to the Employee relating to tax
reimbursements pursuant to the Company’s expatriate policy will be paid no later than the end of the Employee’s taxable year immediately following the Employee’s taxable year in which the Employee remits the related taxes. The Company
and Employee will work together in good faith to consider either (a) amendments to this Agreement; or (b) revisions to this Agreement with respect to the payment of any awards, which are necessary or appropriate to avoid imposition of any
additional tax or income recognition prior to the actual payment to Employee under Section 409A. In no event will the Releasees have any liability or obligation to reimburse, indemnify, or hold harmless Employee for any taxes, interest or
penalties imposed, or other costs incurred, as a result of Section 409A. 
 21.    Authority. The Company represents and
warrants that the undersigned has the authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Agreement. Employee represents and warrants that Employee has the capacity
to act on Employee’s own behalf and on behalf of all who might claim through Employee to bind them to the terms and conditions of this Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law
or equity or otherwise of or against any of the claims or causes of action released herein. 

  
 -7- 

 22.    Severability. In the event that any provision or any portion of any provision
hereof or any surviving agreement made a part hereof becomes or is declared by a court of competent jurisdiction or arbitrator to be illegal, unenforceable, or void, this Agreement shall continue in full force and effect without said provision or
portion of provision. 
 23.    Attorneys’ Fees. Except with regard to a legal action challenging or seeking a
determination in good faith of the validity of the waiver herein under the ADEA, in the event that either Party brings an action to enforce or effect its rights under this Agreement, the prevailing Party shall be entitled to recover its costs and
expenses, including the costs of mediation, arbitration, litigation, court fees, and reasonable attorneys’ fees incurred in connection with such an action. 

24.    Entire Agreement. This Agreement represents the entire agreement and understanding between the Company and Employee
concerning the subject matter of this Agreement and Employee’s employment with and separation from the Company and the events leading thereto and associated therewith, and supersedes and replaces any and all prior agreements and understandings
concerning the subject matter of this Agreement and Employee’s relationship with the Company, with the exception of the Confidentiality Agreement and the Stock Agreements, except as otherwise modified or superseded herein. 

25.    No Oral Modification. This Agreement may only be amended in a writing signed by Employee and the Company’s Chief
Executive Officer. 
 26.    Governing Law. With the exception of the arbitration requirements set forth in Section 18
herein, this Agreement shall be governed by the laws of the State of California, without regard for choice-of-law provisions. Employee consents to personal and exclusive
jurisdiction and venue in the State of California. 
 27.    Effective Date. Employee understands that this Agreement shall be
null and void if not executed by Employee within twenty-one (21) days. Each Party has seven (7) days after that Party signs this Agreement to revoke it. This Agreement will become effective on the eighth (8th) day after Employee signed
this Agreement, so long as it has been signed by the Parties and has not been revoked by either Party before that date (the “Effective Date”). 

28.    Counterparts. This Agreement may be executed in counterparts and each counterpart shall be deemed an original and all of
which counterparts taken together shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. The counterparts of this Agreement may be executed and delivered by
facsimile, photo, email PDF, or other electronic transmission or signature. 
 29.    Voluntary Execution of Agreement. Employee
understands and agrees that Employee executed this Agreement voluntarily, without any duress or undue influence on the part or behalf of the Company or any third party, with the full intent of releasing all of Employee’s claims against the
Company and any of the other Releasees. Employee acknowledges that: 
  

	 	(a)	 Employee has read this Agreement; 

  
 -8- 

	 	(b)	 Employee has been represented in the preparation, negotiation, and execution of this Agreement by legal counsel
of Employee’s own choice or has elected not to retain legal counsel; 

  

	 	(c)	 Employee understands the terms and consequences of this Agreement and of the releases it contains;

  

	 	(d)	 Employee is fully aware of the legal and binding effect of this Agreement; and 

 

	 	(e)	 Employee has not relied upon any representations or statements made by the Company that are not specifically
set forth in this Agreement. 

 IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set
forth below. 
  

							
	Date: July 16, 2018	 		 	DAVID T. MITCHELL, an individual
				
		 		 		 	 /s/ David T. Mitchell

		 		 		 	 David T. Mitchell

  

							
	Date: July 16, 2018	 		 	FABRINET
				
		 		 	By:	 	 /s/ Seamus Grady

		 		 		 	 Seamus Grady

		 		 		 	 Chief Executive Officer

  
 -9- 

 EXHIBIT A 

EQUITY AWARDS 
  

																	
	Type of Award	 	Grant Date	 	 	Number of
Shares Subject to
Award at Grant	 	 	Number of Shares
Subject to Award
That Vested on or
Before Transition
Date	 	 	Number of Unvested
Shares Subject to
Outstanding Award
as of Transition Date	 
		 				 				 				 			
	RSU	 	 	18 Aug 16	 	 	 	61,758	 	 	 	20,586	 	 	 	41,172	 
	RSU	 	 	24 Aug 17	 	 	 	69,885	 	 	 	—	 	 	 	69,885	 
	PSU	 	 	18 Aug 16	 	 	 	61,758	 	 	 	—	 	 	 	61,758	 
	Stretch PSU	 	 	18 Aug 16	 	 	 	61,758	 	 	 	—	 	 	 	61,758	 
	PSU	 	 	24 Aug 17	 	 	 	69,885	 	 	 	—	 	 	 	69,885	 
	Stretch PSU	 	 	24 Aug 17	 	 	 	69,885	 	 	 	—	 	 	 	69,885	 

  
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