Document:

Exhibit 10.8

 

FIRST AMENDMENT TO EXECUTIVE EMPLOYMENT AGREEMENT

 

This First Amendment to Executive Employment
Agreement (“Amendment”) by and between Summit Semiconductor, LLC, a Delaware limited liability company (“Company”)
and Gary Williams (“Executive”) is entered into effective May 2, 2011 with reference to the following facts.

 

RECITALS

 

		A.	Effective May 28, 2004, Focus Enhancements, Inc. (“Focus”) and Employee entered into
an Executive Employment Agreement (the “Agreement”).

		B.	Employer assumed the obligations of Focus under the Agreement effective July 31, 2010.

		C.	The parties desire to amend the terms of the Agreement as provided herein and to acknowledge the
Employer’s assumption of the Agreement.

 

NOW, THEREFORE,
the parties agree as follows:

 

1.            Employee
does hereby consent to Focus’ assignment of rights and Employer’s assumption of the obligations under the Agreement
and shall look solely to Employer for performance of such obligations effective August 1, 2010.

 

2.            The
penultimate sentence of Section 4 of the Agreement is amended to provide:

 

“To be eligible for
payment, Executive must be employed by the Company on the date the bonus is due ; provided, however, if Executive
is not employed on the date the bonus is due because of (i) Executive’s termination for Good Reason, or (ii) Executive’s
involuntary termination by the Company without Cause, then the bonus will be paid but only in proportion to Executive’s period
of employment during the applicable year in relation to a 365 day year.”

 

     

     

    

 

3.            Section
8(b) of the Agreement is amended to provide in its entirety:

 

“(b)       Resignation
for Good Reason or Termination Without Cause. If Executive (i) resigns his employment for Good Reason or (ii) is terminated
by Company without Cause, and (iii) executes, delivers and does not revoke the Company’s standard release of claims agreement,
then, within 60 days of such termination of employment, the Company will continue payment of Executive’s Salary (at the same
rate existing prior to the termination) for a period of twelve (12) months (“the Severance Period”) pursuant to the
Company’s normal payroll practices. Notwithstanding the foregoing, if the 60-day period referenced in the preceding sentence
spans two taxable years, payment shall only commence in the second taxable year. In addition, (i) the Company shall either pay
directly or reimburse Executive for premiums incurred in connection with continuation of coverage under the Company’s health,
dental, disability and life insurance plans to which Executive is entitled in accordance with applicable law for the Severance
Period and (ii) the Company shall pay Executive all bonus compensation otherwise due for the applicable fiscal year of termination
prorated to the date of termination of employment; provided, however, such bonus compensation shall be payable only
in accordance with and at the time of the regularly scheduled bonus compensation payment that Executive would have otherwise been
subject to prior to termination and (iii) any and all unvested stock options and/or restricted stock in Executive’s name
shall immediately become fully vested and exercisable, provided that, regardless of the terms or any option or stock purchase agreement
between the Company and Executive, absent a separate signed written agreement between Company and Executive which specifically
references this provision of this Agreement, no exercise shall occur more than six months after such termination and in no event
after the expiration of such option. In the event of Executive’s subsequent death after his termination by Company without
Cause or by Executive for Good Reason, Company shall continue to pay the same payments and benefits as to which Executive was entitled
at the date of his death to Executive’s surviving spouse, or if Executive is unmarried at the time, then to Executive’s
estate.”

 

4.            Except
as expressly amended herein, the Agreement is hereby ratified and approved. Capitalized terms not otherwise defined herein shall
have the meanings given them in the Agreement.

 

[Remainder of Page Intentionally Left Blank]

 

    	2

     

    

 

IN WITNESS WHEREOF, the
Company and Employee have executed, or caused this Amendment to be executed, as of the date first set forth above.

 

	 	EXECUTIVE:
	 	 
	 	/s/ Gary Williams
	 	Gary Williams
	 	 
	 	COMPANY:
	 	Summit Semiconductor, LLC
	 	 	 
	 	By:	/s/ Brett Moyer
	 	 	 
	 	Its:	CEO

 

    	3Exhibit
10.9

 

April
6, 2018

 

Dear
Mr. Howse:

 

Summit
Semiconductor., a Delaware Corporation (the “Company”),
is pleased to offer you employment on the following terms:

 

 1. Position. Your initial title will be Interim Chief Strategy Officer, and you will report to the Company’s CEO. This is a part-time position and you will be expected to utilize one- half to one-third of your regular working hours each month. While you are employed by the Company, you may engage in consulting or other business activity. You will not be required to work at our offices except from time-to-time to attend particular meetings that we schedule in advance.

 

 2. Your start date is March 19, 2017 and you will be paid as of that date.

 

3. Board
Position. Further, the Company will take the necessary actions to appoint you as an executive member of the Company’s
Board of Directors. The Company will not take any action to remove you from the Board of Directors except upon your termination
or resignation, or for cause. You will be offered an indemnification agreement in a form to be agreed to with the Company, but
no less favorable than entered into with any other member of the Board of Directors. The Company will maintain Directors and Officers
insurance during your employment.

 

4.
Objectives. As Interim Chief Strategy Officer, you will
have the following objectives:

 

Strategy:
Define the Company’s PC gaming and e-sports home theater strategy, with the goal of a 2H 2018 launch with
partners.

 

Roadmap.
Work with a dedicated team to define the Company’s cloud service roadmap, with a particular focus on a business
and customer engagement model.

 

Marketing:
Redefine and position the Company/WISA brand as the leader in wireless home theater audio for consumers.

 

5. Cash
Compensation. The Company will pay you a starting salary at the rate of twenty thousand dollars ($20,000) per month,
payable in accordance with the Company’s standard payroll schedule. This salary will be subject to adjustment pursuant to
the Company’s employee compensation policies in effect from time to time, but shall not be less than the amount set forth
above without your prior written consent.

 

6.
Other Compensation. In consideration of your agreement
to begin employment with the Company and Director of the Company, the Company will grant you two warrants:

 

		·	First,
                                         a warrant to 110,000 shares of common stock of the Company (as adjusted for stock splits,
                                         stock combinations, stock dividends, and recapitalizations). As set forth in the Warrant
                                         Agreement, attached, the warrant issued will vest monthly over 9 month period, but accelerate
                                         and fully vest if you are terminated for any reason.

 

    	 	 	 

     

    

 

		·	Second,
                                         a warrant to 165,000 shares of common stock of the Company (as adjusted for stock splits,
                                         stock combinations, stock dividends, and recapitalizations). This warrant will vest upon
                                         the Company achieving one or more of the following milestones (each, a “Design
                                         Win”).

 

		(a)	The Company becomes a publicly
                                         announced member in WiSA

		(b)	A product is launched in the PC/gaming
                                         industry

		(c)	Expectations of more than $1M in
                                         revenue per year

 

This
second warrant will vest as to 110,000 shares of common stock upon the first Design Win and as to an additional 55,000
shares of common stock upon the second Design Win.

 

Both
warrants will accelerate and vest completely immediately prior to an Acquisition.

 

The
warrants will have an exercise price of $5.40 (the “Strike
Price”) per share of common stock of the Company, as adjusted for stock splits, stock combinations,
stock dividends, and recapitalizations. The Company represents and warrants that the as of the date of this Agreement (a) that
275,000 shares represents 2.5%
of the Capitalization of the Company on a fully diluted basis, and (b) that the Board of Directors has reasonably
determined that $5.40 reflects the fair market value of each share of common stock. If any investor in a subsequent financing
acquires any share of the company for less than $5.40 per share, then the Strike Price will automatically be reduced to the lower
price paid (Note: I would like a “most favored price” clause if possible.)

 

Further,
if during the period of your employment or within six (6) months following termination of your employment (whether by the Company
or by your resignation), the Company raises capital in one or more financings from or is Acquired by any investor or acquirer
on a list of investors or acquirers to be agreed to by the Company and you (each, a “Bonus
Event”), you will receive 5% (the “Bonus
Percentage”) of the gross proceeds of such financings or Acquisition (less any percentage the Company
pays an investment bank in connection with such financing up to 2.5%) that will be paid to you concurrently with the closing of
such financings or Acquisition. In the case of a financing,
you may elect to receive up to 50% of such compensation in the form of convertible notes or preferred equity issued to
the investors and on the same terms as such investors.

 

“Acquired”
and “Acquisition” refers to a transaction
whereby the Company or its shareholders sell, convey, or otherwise dispose of all or substantially all of the Company’s
property or business, exclusively and irrevocably license all or substantially all of its intellectual property rights to a third
party, or merge with or into or consolidate with any other corporation or other entity, or effect any other transaction or series
of related transactions in which more than fifty percent (50%) of the voting power of the Company changes ownership.

 

4.
Employee Benefits. As a regular, part time employee of
the Company, you will be eligible to participate in a number of Company-sponsored benefits. .

 

    	 	 	 

     

    

 

5.
Proprietary Information and Inventions Agreement. Like
all Company employees, you will be required, as a condition of your employment with the Company, to sign the Company’s standard
Proprietary Information and Inventions Agreement, a copy of which is attached hereto as Exhibit
A.

 

6.
Employment Relationship. Employment with the Company is
for no specific period of time. Your employment with the Company will be “at
will”, meaning that either you or the Company may terminate your employment at any time and for any reason, with
or without cause. Any contrary representations that may have been made to you are superseded by this letter agreement. This is
the full and complete agreement between you and the Company on this term. Your job duties, title, compensation and benefits will
not be changed by the Company without your prior, express approval. Although you will be an “at will” employee, the
Company will provide you with ninety (90) days’ prior written notice of termination.

 

7.
Tax Matters. All forms of compensation referred to in this
letter agreement are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by
law.

 

8.
Interpretation, Amendment and Enforcement. This letter
agreement, the Warrant attached as Attachment 1, and Exhibit
A constitute the complete agreement between you and the Company, contain all of the terms of your employment with the
Company and supersede any prior agreements, representations or understandings (whether written, oral or implied) between you and
the Company. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and
a duly authorized officer of the Company. The terms of this letter agreement
and the resolution of any disputes as
to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected
with, this letter agreement, your employment with the Company or any other relationship between you and the Company (collectively,
“Disputed”) will be governed by California
law, excluding laws relating to conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction
of the federal and state courts located in Santa Clara County, California in connection with any Dispute or any claim related
to any Dispute.

 

{signature
page follows}

 

    	 	 	 

     

    

 

We
hope that you will accept our offer to join the Company. You may indicate your agreement with these terms and accept this offer
by signing and dating both the enclosed duplicate original of this letter agreement and the enclosed Proprietary Information and
Inventions Agreement and returning them to me. As required by law, your employment with the Company is contingent upon your providing
legal proof of your identity and authorization to work in the United States.

 

Very
truly yours,

 

[Summit
Wireless]

 

	By:	/s/
     Brett Moyer	 
	 	 	 
	Name:	Brett
    Moyer	 
	 	 	 
	Title	President
    & CEO	 

 

Attachment

 

Exhibit
A: Proprietary Information and Inventions Agreement

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