Document:

exv10w1

Exhibit 10.1

ACTEL CORPORATION

MAURICE E. CARSON EMPLOYMENT AGREEMENT

     This Agreement is entered into as of August 17, 2009 (the “Effective Date”) by and between
Actel Corporation (the “Company”), and Maurice E. Carson (“Executive”).

     1. Duties and Scope of Employment.

          (a) Positions and Duties. As of the Effective Date, Executive will serve as Executive
Vice President and Chief Financial Officer of the Company. Executive will render such business and
professional services in the performance of his duties, consistent with Executive’s position within
the Company, as will reasonably be assigned to him by the President and Chief Executive Officer
(“CEO”). The CEO may modify Executive’s job title and duties as he deems necessary and appropriate
in light of the Company’s needs and interests from time to time. The period of Executive’s
employment under this Agreement shall be two (2) years from the Effective Date and is referred to
herein as the “Employment Term,” unless sooner terminated pursuant to the provisions of this
Agreement. At the conclusion of the Employment Term, the parties agree that the rights and
obligations regarding severance and term employment shall expire and Executive’s employment with
the Company will continue as “at-will” employment and may be terminated or modified at any time
with or without cause or notice.

          (b) Obligations. During the Employment Term, Executive will perform his duties
faithfully and to the best of his ability and will devote his full business efforts and time to the
Company. For the duration of the Employment Term, Executive agrees not to actively engage in any
other employment, occupation or consulting activity for any direct or indirect remuneration without
the prior approval of the CEO and the Board of Directors (the “Board”).

     2. At-Will Employment. The parties agree that Executive’s employment
with the Company will be “at-will” employment and may be terminated at any time with
or without cause or notice. Executive understands and agrees that neither his job
performance nor promotions, commendations, bonuses or the like from the Company give
rise to or in any way serve as the basis for modification, amendment, or extension, by
implication or otherwise, of his employment with the Company. However, as described
in this Agreement, Executive may be entitled to severance benefits depending on the
circumstances of Executive’s termination of employment with the Company.

     3. Compensation.

          (a) Base Salary. During the Employment Term, the Company will pay Executive an annual
salary of $332,000 as compensation for his services (the “Base Salary”). The Base Salary will be
paid periodically in accordance with the Company’s normal payroll practices and be subject to the usual, required withholding. Executive’s salary
will be subject to review and adjustments will be made based upon the Company’s normal performance
review practices.

          (b) Incentive Bonus. For Fiscal 2009, Executive will be entitled to receive a bonus of
40% of the base salary he earned in 2009. The bonus will be paid in accordance with the

 

 

Company’s normal bonus payment practices and be subject to the usual, required withholding. For
Fiscal 2010, Executive will be entitled to receive a bonus of 25% of his base salary, or the
calculated bonus payment for Executive, whichever is larger. The bonus will be paid in accordance
with the Company’s normal bonus payment practices and be subject to the usual, required
withholding.

          (c) New Hire Equity. On or after the Effective Date, as determined by the Board,
Executive will be granted three stock-settled stock appreciation rights (“SARs”). The first
stock-settled stock appreciation right (“SAR”) will be to purchase 100,000 shares of the Company’s
Common Stock at an exercise price per share of the fair market value (“FMV”) of Actel stock on the
date of grant, as defined in the Company’s 1986 Equity Incentive Plan (the “1986 Plan”). Subject to
the accelerated vesting provisions set forth herein, the SAR will vest in accordance with the
Company’s standard vesting schedule, which is ratably on a quarterly basis over four years from the
grant date, except that 25% of the shares subject to the SAR shall not become exercisable until one
year after the grant date.

     The second SAR granted will be to purchase 25,000 shares of the Company’s Common Stock at an
exercise price per share of the fair market value (“FMV”) of Actel stock on the date of grant, as
defined in the Company’s 1986 Equity Incentive Plan (the “1986 Plan”). Subject to the accelerated
vesting provisions set forth herein, the SAR will vest in accordance with the Company’s standard
vesting schedule, which is ratably on a quarterly basis over four years from the grant date, except
that 50% of the shares subject to the SAR shall not become exercisable until two years after the
grant date.

     The third SAR granted will be to purchase 35,000 shares of the Company’s Common Stock at an
exercise price per share of the fair market value (“FMV”) of Actel stock on the date of grant, as
defined in the Company’s 1986 Equity Incentive Plan (the “1986 Plan”). The SAR will not become
exercisable until four years from the grant date.

     The SARs will be fully vested and exercisable four (4) years from the date of grant, subject
to Executive continuing to be a Service Provider (as defined in the Plan) through the relevant
vesting dates. The SARs will be subject to the terms, definitions and provisions of the Company’s
1986 Plan and the Stock Appreciation Right Agreement by and between Executive and the Company (the
“SAR Agreement”), both of which documents are incorporated herein by reference.

          (d) Equity. Executive will be eligible to receive awards of stock options, SARs, restricted
stock units (“RSUs”) or other equity awards pursuant to any plans or arrangements the Company may
have in effect from time to time. The Board or its committee will determine in its discretion
whether Executive will be granted any such equity awards and the terms of any such award in
accordance with the terms of any applicable plan or arrangement that may be in effect from time to
time.

     For Fiscal 2010, as part of the regular Executive equity grant process, Executive will be
granted a SAR to purchase 50,000 shares of the Company’s Common Stock at an
exercise price per share of the fair market value (“FMV”) of Actel stock on the date of grant,
as defined in the Company’s 1986 Equity Incentive Plan (the “1986 Plan”). The SAR will vest in
accordance with the Company’s standard vesting schedule, which is ratably on a quarterly basis over
four years from the grant date, except that 50% of the shares subject to the SAR shall not become
exercisable until

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two years after the grant date. In addition, Executive will be granted 10,000 RSUs. The RSUs
will vest in accordance with the Company’s standard vesting schedule, which is ratably on an annual
basis over four years from the initial vesting date, except that 50% of the shares subject to the
RSU shall not become exercisable until two years after the initial vesting date.

     The SARs and the RSUs will be fully vested and exercisable four (4) years from the date of
grant, subject to Executive continuing to be a Service Provider (as defined in the Plan) through
the relevant vesting dates. The SARs will be subject to the terms, definitions and provisions of
the Company’s 1986 Plan and the Stock Appreciation Right Agreement by and between Executive and the
Company (the “SAR Agreement”), both of which documents are incorporated herein by reference. The
RSUs will be subject to the terms, definitions and provisions of the Company’s 1986 Plan and the
Restricted Stock Unit Agreement (the “RSU Agreement”) by and between Executive and the Company,
both of which documents are incorporated herein by reference.

          (e) Relocation and Temporary Living Reimbursement. During the Employment Term, the
Company will reimburse Executive for reasonable moving expenses incurred by Executive and his
family during their relocation from Executive’s primary residence to the Mountain View area,
subject to the terms, definitions and provisions of the Company’s Relocation Policy and Acceptance
(“Relocation Agreement”) incorporated herein by reference.

          (f) Signing Bonus. Executive will receive $85,000, subject to the usual, required
withholding. This bonus will be paid in accordance with the Company’s normal payroll cycles, and
not later than one month from the Effective Date. If Executive voluntarily resigns before the
expiration of the Employment Term, he shall be obligated to repay the entire sum of the signing
bonus to the Company.

     4. Employee Benefits. During the Employment Term, Executive will be entitled to
participate in the employee benefit plans currently and hereafter maintained by the Company of
general applicability to other senior executives of the Company, including, without limitation, the
Company’s group medical, dental, vision, disability, life insurance, and flexible-spending account
plans. The Company reserves the right to cancel or change the benefit plans and programs it offers
to its employees at any time.

     5. Vacation. Executive will be eligible to receive paid vacation in
accordance with the Company’s vacation policy, with the timing and duration of
specific vacations mutually and reasonably agreed to by the parties hereto.

     6. Expenses. The Company will reimburse Executive for reasonable travel,
entertainment or other expenses incurred by Executive in the furtherance of or in connection with
the performance of Executive’s duties hereunder, in accordance with the Company’s expense
reimbursement policy as in effect from time to time.

     7. Severance.

          (a) Termination for other than Cause, Death or Disability. If the Company terminates
Executive’s employment with the Company other than for Cause, death or disability, then, subject to
Section 8, Executive will be entitled to (a) a lump sum payment equal to the Executive’s base
salary for the remainder of the Employment Term, (b) a lump sum payment of the

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Executive’s guaranteed minimum bonuses for the remainder of the Employment Term, (c) accelerated
vesting of all outstanding equity awards due to vest during the remaining months of the Employment
Term, and (d) reimbursement, consistent with the Company’s normal expense reimbursement policies,
for the payments Employee makes for COBRA coverage for the remainder of the Employment Term,
provided Employee timely elects and pays for COBRA coverage.

          (b) Termination for Cause, Death or Disability. If Executive’s employment with the
Company terminates voluntarily by Executive, for Cause by the Company or due to Executive’s death
or disability, then (i) all vesting will terminate immediately with respect to Executive’s
outstanding equity awards, except as specified in the 1986 Plan, (ii) all payments of compensation
by the Company to Executive hereunder will terminate immediately (except as to amounts already
earned), and (iii) Executive will only be eligible for severance benefits in accordance with the
Company’s established policies, if any, as then in effect.

          (c) Change of Control Benefits. If the Company undergoes a “Change of Control” (as
defined below) during the Employment Term and the Company or the successor corporation terminates
Executive’s employment with the Company or successor corporation for other than Cause, Death or
Disability, then Executive will be entitled to (a) a lump sum payment equal to the Executive’s base
salary for the remainder of the Employment Term, (b) a lump sum payment of the Executive’s
guaranteed minimum bonuses for the remainder of the Employment Term, and (c) reimbursement,
consistent with the Company’s normal expense reimbursement policies, for the payments Employee
makes for COBRA coverage for the remainder of the Employment Term, provided Employee timely elects
and pays for COBRA coverage. Treatment of Executive’s equity awards will be governed by the
Management Continuity Agreement.

     8. Conditions to Receipt of Severance.

          (a) Separation Agreement and Release of Claims. The receipt of any severance pursuant
to Section 7 will be subject to Executive signing and not revoking a separation agreement and
release of claims in a form acceptable to the Company. No severance pursuant to such Sections will
be paid or provided until the separation agreement and release agreement becomes effective.

          (b) Section 409A.

               (i) Notwithstanding anything to the contrary in this Agreement, if Executive is a “specified
employee” within the meaning of Section 409A of the Code and the final regulations and any guidance
promulgated thereunder (“Section 409A”) at the time of Executive’s termination, and the severance
payable to Executive, if any, pursuant to this Agreement, when considered together with any other
severance payments or separation benefits which may be considered deferred compensation under
Section 409A (together, the “Deferred Compensation Separation Benefits”) will not and could not
under any circumstances, regardless of when such termination occurs, be
paid in full by March 15 of the year following Executive’s termination, then only that portion
of the Deferred Compensation Separation Benefits which do not exceed the Section 409A Limit (as
defined below) may be made within the first six (6) months following Executive’s termination of
employment in accordance with the payment schedule applicable to each payment or benefit. For these
purposes, each severance payment is hereby designated as a separate payment and will not
collectively be treated as a single payment. Any portion of the Deferred

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Compensation Separation Benefits in excess of the Section 409A Limit shall accrue and, to the
extent such portion of the Deferred Compensation Separation Benefits would otherwise have been
payable within the first six (6) months following Executive’s termination of employment, will
become payable on the first payroll date that occurs on or after the date six (6) months and one
(1) day following the date of Executive’s termination of employment. All subsequent Deferred
Compensation Separation Benefits, if any, will be payable in accordance with the payment schedule
applicable to each payment or benefit.

               (ii) The foregoing provision is intended to comply with the requirements of Section 409A so
that none of the severance payments and benefits to be provided hereunder will be subject to the
additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so
comply. The Company and Executive agree to work together in good faith to consider amendments to
this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to
avoid imposition of any additional tax or income recognition prior to actual payment to Executive
under Section 409A.

     9. Definitions.

          (a) Benefit Plans. For purposes of this Agreement, “Benefit Plans” means plans,
policies or arrangements that the Company sponsors (or participates in) and that immediately prior
to Executive’s termination of employment provide Executive and/or Executive’s eligible dependents
with medical, dental, and/or vision benefits. Benefit Plans do not include any other type of
benefit (including, but not by way of limitation, disability, life insurance or retirement
benefits). A requirement that the Company provide Executive and Executive’s eligible dependents
with coverage under the Benefit Plans will not be satisfied unless the coverage is no less
favorable than that provided to senior executives of the Company at any applicable time during the
period Executive is entitled to receive severance pursuant to Section 7(a) or (b). The Company may,
at its option, satisfy any requirement that the Company provide coverage under any Benefit Plan by
(i) reimbursing Executive’s premiums under Title X of the Consolidated Budget Reconciliation Act of
1985, as amended (“COBRA”) after Executive has properly elected continuation coverage under COBRA
(in which case Executive will be solely responsible for electing such coverage for his eligible
dependents), or (ii) providing coverage under a separate plan or plans providing coverage that is
no less favorable or by paying Executive a lump-sum payment which is, on an after-tax basis,
sufficient to provide Executive and Executive’s eligible dependents with equivalent coverage under
a third party plan that is reasonably available to Executive and Executive’s eligible dependents.

          (b) Cause. For purposes of this Agreement, “Cause” is defined as (i) an act of
dishonesty made by Executive in connection with Executive’s responsibilities as an employee, (ii)
Executive’s conviction of, or plea of nolo contendere to, a felony or any crime
involving fraud, embezzlement or any other act of moral turpitude, (iii) Executive’s gross
misconduct, (iv) Executive’s unauthorized use or disclosure of any proprietary
information or trade secrets of the Company or any other party to whom Executive owes an
obligation of nondisclosure as a result of Executive’s relationship with the Company; (v)
Executive’s willful breach of any obligations under any written agreement or covenant with the
Company; or (vi) Executive’s continued failure to perform his employment duties after Executive has
received a written demand of performance from the Company with specifically sets forth the factual
basis for the Company’s belief that Executive has not substantially performed his duties.

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          (c) Change of Control. For purposes of this Agreement, “Change of Control” of the
Company is defined as: (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the
Securities Exchange Act of 1934, as amended) is or becomes the “beneficial owner” (as defined in
Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing 50%
or more of the total voting power represented by the Company’s then outstanding voting securities;
or (ii) a change in the composition of the Board occurring within a two-year period, as a result of
which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” will
mean directors who either (A) are directors of the Company 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 will not include an
individual whose election or nomination is in connection with an actual or threatened proxy contest
relating to the election of directors to the Company); or (iii) the date of the consummation of a
merger or consolidation of the Company with any other corporation that has been approved by the
stockholders of the Company, other than a merger or consolidation which would result in the voting
securities of the Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity) more
than fifty percent (50%) of the total voting power represented by the voting securities of the
Company or such surviving entity outstanding immediately after such merger or consolidation, or the
stockholders of the Company approve a plan of complete liquidation of the Company; or (iv) the date
of the consummation of the sale or disposition by the Company of all or substantially all the
Company’s assets.

     10. Confidential Information. Executive agrees to enter into the Company’s standard At
Will Employment, Confidential Information, Invention Assignment and Arbitration Agreement (the
“Confidential Information Agreement”) upon commencing employment hereunder.

     11. Assignment. This Agreement will be binding upon and inure to the benefit of (a)
the heirs, executors and legal representatives of Executive upon Executive’s death and (b) any
successor of the Company. Any such successor of the Company will be deemed substituted for the
Company under the terms of this Agreement for all purposes. For this purpose, “successor” means any
person, firm, corporation or other business entity which at any time, whether by purchase, merger
or otherwise, directly or indirectly acquires all or substantially all of the assets or business of
the Company. None of the rights of Executive to receive any form of compensation payable pursuant
to this Agreement may be assigned or transferred except by will or the laws of descent and
distribution. Any other attempted assignment, transfer, conveyance or other disposition of
Executive’s right to compensation or other benefits will be null and void.

     12. Notices. All notices, requests, demands and other communications called for
hereunder will be in writing and will be deemed given (i) on the date of delivery if delivered
personally, (ii) one (1) day after being sent by a well established commercial overnight service,
or (iii) four (4) days after being mailed by registered or certified mail,
return receipt requested, prepaid and addressed to the parties or their successors at the
following addresses, or at such other addresses as the parties may later designate in writing:

If to the Company:

Actel Corporation

2061 Stierlin Court

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Mountain View, CA 94043-4655

Attn: Barbara McArthur

If to Executive:

at the last residential address known by the Company.

     13. Severability. In the event that any provision hereof becomes or is declared by a
court of competent jurisdiction to be illegal, unenforceable or void, this Agreement will continue
in full force and effect without said provision.

     14. Arbitration.

          (a) Arbitration. In consideration of Executive’s service to the Company, its promise
to arbitrate all employment related disputes and Executive’s receipt of the compensation, pay
raises and other benefits paid to Executive by the Company, at present and in the future, Executive
agrees that any and all controversies, claims, or disputes with anyone (including the Company and
any employee, officer, director, shareholder or benefit plan of the Company in their capacity as
such or otherwise) arising out of, relating to, or resulting from Executive’s service to the
Company under this Agreement or otherwise or the termination of Executive’s service with the
Company, including any breach of this Agreement, will be subject to binding arbitration under the
Arbitration Rules set forth in California Code of Civil Procedure Section 1280 through 1294.2,
including Section 1281.8 (the “Rules”) and pursuant to California law. Disputes which Executive
agrees to arbitrate, and thereby agrees to waive any right to a trial by jury, include any
statutory claims under state or federal law, including, but not limited to, claims under Title VII
of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age
Discrimination in Employment Act of 1967, the Older Workers Benefit Protection Act, the California
Fair Employment and Housing Act, the California Labor Code, claims of harassment, discrimination or
wrongful termination and any statutory claims. Executive further understands that this Agreement to
arbitrate also applies to any disputes that the Company may have with Executive.

          (b) Procedure. Executive agrees that any arbitration will be administered by the
Judicial Arbitration and Mediation Services (“JAMS”) and that a neutral arbitrator will be selected
in a manner consistent with its National Rules for the Resolution of Employment Disputes. All
arbitration proceedings shall be held in Alameda County, California. The arbitration proceedings
will allow for discovery according to the rules set forth in the Employment Arbitration Rules and
Procedures of JAMS (the “JAMS Rules”) or California Code of Civil Procedure. Executive agrees that
the arbitrator will 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,
prior to any arbitration hearing. Executive agrees that the arbitrator will issue a written decision
on the merits. Executive also agrees that the arbitrator will have the power to award any
remedies, including attorneys’ fees and costs, available under applicable law. Executive
understands the Company will pay for any administrative or hearing fees charged by the arbitrator
or JAMS except that with respect to any arbitration Executive initiates, Executive will pay the
amount Executive would have otherwise been required to pay to file a claim in court. Executive
agrees that the arbitrator will administer and conduct any arbitration in a manner consistent with
the Rules and that to the extent that the Rules conflict with the Rules, the Rules will take
precedence.

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          (c) Remedy. Except as provided by the Rules, arbitration will be the sole, exclusive
and final remedy for any dispute between Executive and the Company. Accordingly, except as
provided for by the Rules, neither Executive nor the Company will be permitted to pursue court
action regarding claims that are subject to arbitration. Notwithstanding, the arbitrator will not
have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator
will not order or require the Company to adopt a policy not otherwise required by law which the
Company has not adopted. The prevailing party in any arbitration proceeding shall be entitled to
recover from the losing party all costs that it has incurred as a result of such proceeding,
including but not limited to, all reasonable travel costs and reasonable attorneys’ fees.

          (d) Administrative Relief. Executive understands that this Agreement does not
prohibit Executive from pursuing an administrative claim with a local, state or federal
administrative body such as the Department of Fair Employment and Housing, the Equal Employment
Opportunity Commission or the workers’ compensation board. This Agreement does, however, preclude
Executive from pursuing court action regarding any such claim.

          (e) Voluntary Nature of Agreement. Executive acknowledges and agrees that Executive
is executing this Agreement voluntarily and without any duress or undue influence by the Company or
anyone else. Executive further acknowledges and agrees that Executive has carefully read this
Agreement and that Executive has asked any questions needed for Executive to understand the terms,
consequences and binding effect of this Agreement and fully understands it, including that
EXECUTIVE IS WAIVING EXECUTIVE’S RIGHT TO A JURY TRIAL. Finally, Executive agrees that Executive
has been provided an opportunity to seek the advice of an attorney of Executive’s choice before
signing this Agreement.

     15. Integration. This Agreement, together with the Option Plan, Option Agreement and the
Confidential Information Agreement represents the entire agreement and understanding between the
parties as to the subject matter herein and supersedes all prior or contemporaneous agreements
whether written or oral. This Agreement may be modified only by agreement of the parties by a
written instrument executed by the parties that is designated as an amendment to this Agreement.

     16. Waiver of Breach. The waiver of a breach of any term or provision of this
Agreement, which must be in writing, will not operate as or be construed to be a waiver of any
other previous or subsequent breach of this Agreement.

     17. Headings. All captions and section headings used in this Agreement are for
convenient reference only and do not form a part of this Agreement.

     18. Tax Withholding. All payments made pursuant to this Agreement will be subject to
withholding of applicable taxes.

     19. Governing Law. This Agreement will be governed by the laws of the State of
California (with the exception of its conflict of laws provisions).

     20. Acknowledgment. Executive acknowledges that he has had the opportunity to discuss
this matter with and obtain advice from his private attorney, has had sufficient time to, and has
carefully read and fully understands all the provisions of this Agreement, and is knowingly and
voluntarily entering into this Agreement.

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     21. Counterparts. This Agreement may be executed in counterparts, and each counterpart
will have the same force and effect as an original and will constitute an effective, binding
agreement on the part of each of the undersigned.

[Remainder of Page Intentionally Left Blank]

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     IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by their duly authorized officers, as of the day and year first above written.

	 	 	 	 	 	 	 	 	 	 	 
	COMPANY:	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	ACTEL CORPORATION	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	Date:	 	 	 	 
	 

	 

	 	 	 	 	 	 

	 	 
	Title: V.P. Human Resources	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	EXECUTIVE:	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Date:	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Maurice E. Carson
	 	 	 	 	 	 	 	 

[SIGNATURE PAGE TO MAURICE E. CARSON’S EMPLOYMENT AGREEMENT]

-10-exv10w14

Exhibit 10.14

Endwave Corporation

SENIOR EXECUTIVE OFFICER SEVERANCE AND RETENTION PLAN

Section 1. Introduction.

     The purpose of this Plan is to encourage Eligible Executive Officers to remain as valued
employees of the Company. This Plan supersedes any other severance or retention benefit plan,
policy or practice maintained by the Company, in which the Eligible Executive Officers would
otherwise be entitled to participate. This Plan amends and restates, and supersedes in its
entirety, the Company’s “Executive Officer Severance and Retention Plan” dated June 5, 2003, as
amended through October 15, 2008. Some of the capitalized terms used in this Plan document are
defined in Section 6 of this Plan. This Plan document is also the Summary Plan Description for the
Plan.

Section 2. Eligibility For Benefits.

     (a) General Provisions. An Eligible Executive Officer will be eligible to receive Severance
Benefits under this Plan in the event his employment with the Company is (a) terminated by the
Company for a reason other than Cause or (b) voluntarily terminated by the Eligible Executive
Officer for Good Reason within 60 days after the initial occurrence of the circumstances giving
rise to Good Reason during the term of this Plan or within six months following any Change in
Control that occurs during the term of this Plan. An Eligible Executive Officer will be eligible to
receive Retention Benefits under this Plan if (1) the Eligible Executive Officer is employed by the
Company upon the occurrence of any Change in Control that occurs during the term of this Plan or
(2) his employment is terminated by the Company without Cause in connection with, and prior to,
such Change in Control. Notwithstanding the foregoing, in the event a Board Composition Change
occurs, an Eligible Executive Officer will be eligible to receive Retention Benefits under this
Plan even if he is not so employed upon the occurrence of a Change in Control, as long as he was
employed by the Company immediately prior to such Board Composition Change. In order to be eligible
to receive Benefits under this Plan, an Eligible Executive Officer must execute a general waiver
and release in the form attached as Exhibit A and such waiver and release must have become
effective as specified in Section 4(c) prior to the payment of such Benefits.

     (b) Exceptions. An Eligible Executive Officer will not be entitled to any Benefits if:

          (1) His employment with the Company is terminated for Cause at any time.

          (2) His employment is voluntarily terminated for a reason other than Good Reason or is
terminated by reason of his death, retirement, failure to return from a leave of absence or
disability.

          (3) The Eligible Executive Officer is offered an identical or substantially equivalent or
comparable position with the Company or an affiliate of the Company. For purposes of the
foregoing, a “substantially equivalent or comparable position” is one that offers

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the employee substantially the same level of responsibility and compensation: provided, however,
that if any aspect of the new position would constitute Good Reason, the foregoing shall not
preclude the Eligible Executive Officer from being entitled to Benefits under the Plan due to a
termination for Good Reason.

          (4) The Eligible Executive Officer is offered immediate reemployment by a successor to the
Company or an affiliate of the Company or by a purchaser of its assets, as the case may be,
following a change in ownership of the Company or an affiliate of the Company or a sale of
substantially all the assets of a division or business unit of the Company or an affiliate of the
Company: provided, however, that if any aspect of the new position would constitute Good Reason,
the foregoing shall not preclude the Eligible Executive Officer from being entitled to Benefits
under the Plan due to a termination for Good Reason. For purposes of the foregoing, “immediate
reemployment” means that the Eligible Executive Officer ‘s employment with the successor to the
Company or an affiliate of the Company or the purchaser of its assets, as the case may be, results
in uninterrupted employment such that the Eligible Executive Officer does not suffer a lapse in pay
as a result of the change in ownership of the Company or an affiliate of the Company or the sale of
its assets.

Section 3. Amount Of Benefit.

     (a) Retention Benefits. An Eligible Executive Officer’s Retention Benefit will be the
acceleration of vesting of all stock options granted to the Eligible Executive Officer by the
Company as provided in this Section 3(a). Upon a Change in Control, each such option automatically
will become exercisable (without right of repurchase) for that number of shares equal to the number
of shares that would be purchasable under the option (without right of repurchase) at the end of
the period beginning upon such Change in Control and ending on the date specified in the following
table if the Eligible Executive Officer were employed by the Company or its successor at the end of
such period:

	 	 	 
	Title of Eligible Executive Officer	 	 
	upon Change in Control	 	Acceleration Period
	Edward A. Keible, Jr.

	 	Greater of (a) 24 months and (b) 4 months for each full year of employment by the Company
	 
	 	 
	John J. Mikulsky

	 	Greater of (a) 18 months and (b) 3 months for each full year of employment by the Company

     (b) Severance Benefits. An Eligible Executive Officer’s Severance Benefits will be the
benefits set forth in paragraphs (1) through (3) below.

          (1) The Company will provide a severance payment based on the Eligible Executive Officer’s
base salary (and not commissions, bonuses or other variable pay) determined in accordance with the
following table:

	 	 	 	 	 
	 	 	Severance Payment Amount
	 	 	Termination Occurs in	 	Termination Occurs Prior to, and
	Title of Eligible Executive Officer	 	Connection with, or Six Months	 	not in Connection with, a Change
	upon Termination of Employment	 	after, a Change in Control	 	in Control
	Edward A. Keible, Jr.

	 	Greater of (a) 24
months and (b) 4
months for each full
year of employment by
the Company
	 	Greater of (a) 12
months and (b) 2
months for each full
year of employment by
the Company
	 
	 	 	 	 
	John J. Mikulsky

	 	Greater of (a) 18
months and (b) 3
months for each full
year of employment by
the Company
	 	Greater of (a) 9
months and (b) 1.5
months for each full
year of employment by
the Company

2.

 

          (2) If the Eligible Executive Officer is, immediately prior to termination of employment,
enrolled in the Company’s health and/or dental plan and timely elects to continue coverage under
such health or dental plan at the time of the Eligible Executive Officer’s termination of
employment under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company
will pay the COBRA premiums for such health and/or dental insurance coverage for the Eligible
Executive Officer and his then-covered dependents for the period of time following termination of
employment determined in accordance with the following table:

	 	 	 
	Title of Eligible Executive Officer	 	 
	upon Termination of Employment	 	COBRA Benefits Period
	Edward A. Keible, Jr.

	 	Greater of (a) 12 months and (b) 2
months for each full year of
employment by the Company
	 
	 	 
	John J. Mikulsky

	 	Greater of (a) 9 months and (b) 1.5
months for each full year of
employment by the Company

No provision of this Plan will affect the continuation coverage rules under COBRA, except that the
Company’s payment of any applicable premiums during the COBRA benefits period set forth in the
foregoing table will be credited, except for purposes of COBRA premium assistance under the
American Recovery and Reinvestment Act of 2009 (the “ARRA”), as payment by the Eligible Executive
Officer for purposes of his or her payment required under COBRA. The period during which an
Eligible Executive Officer must elect to continue the Company’s group medical or dental coverage at
his or her own expense under COBRA, the length of time during which COBRA coverage will be made
available to the Eligible Executive Officer, and all other rights and obligations of the Eligible
Executive Officer under COBRA (except the obligations of the Company hereunder) will be applied in
the same manner that such rules apply in the absence of this Plan. At the conclusion of the COBRA
benefits period set forth in the foregoing table, the Eligible Executive Officer will be
responsible for the entire payment of premiums required under COBRA for the remainder of the COBRA
period, if any, except to the extent that the Eligible Executive Officer qualifies under the ARRA
as an “assistance eligible individual” who is entitled to COBRA premium assistance without
recapture. For purposes of this Section 3(b)(2), (i) references to COBRA shall be deemed to refer
also to analogous provisions of state law and (ii) any applicable insurance premiums that are paid
by the Company shall not include any amounts payable by an Eligible Executive Officer under an
Internal Revenue Code Section 125 health care reimbursement plan, which amounts, if any, are the
sole responsibility of the Eligible Executive Officer. All other benefits (such as life insurance
and disability coverage) terminate as of the employee’s termination date, except to the extent that
any conversion privilege is available thereunder.

          (3) The acceleration of vesting of all stock options granted to the Eligible Executive Officer
by the Company as provided below. Upon termination of employment, each such option automatically
will become exercisable (without right of repurchase) for that number of shares equal to the number
of shares that would be purchasable under the option (without right of repurchase) at the end of
the period beginning upon termination of employment and ending on the date specified in the
following table if the Eligible Executive Officer were employed by the Company or its successor at
the end of such period:

3.

 

	 	 	 
	Title of Eligible Executive Officer upon	 	 
	Termination of Employment	 	Acceleration Period
	Edward A. Keible, Jr.

	 	Greater of (a) 24 months and (b) 4
months for each full year of
employment by the Company
	 
	 	 
	John J. Mikulsky

	 	Greater of (a) 18 months and (b) 3
months for each full year of
employment by the Company

In the event of a termination of employment in connection with, or within six months after, a
Change in Control, the acceleration of vesting provided by this paragraph (3) is intended to be in
addition to the acceleration of vesting that would have occurred upon the Change in Control
pursuant to Section 3(a).

     (c) Income Tax Liabilities and Withholding. All income tax liabilities with respect to
payments under this Plan will be solely those of the affected Eligible Executive Officer and not
the Company or any other party. The Company will have no obligation to structure Benefit payments
or otherwise administer this Plan in a manner as to reduce or eliminate such liabilities. Payments
under this Plan will be subject to withholdings and deductions as may be required by law.

     (d) Certain Tax Provisions Affecting Amount of Payments. Anything in this Plan to the
contrary notwithstanding, in the event it is determined that any payment by the Company to an
Eligible Executive Officer hereunder (a “Payment”) would cause the Eligible Executive Officer to be
liable for an excise tax pursuant to Section 4999 of the Code, then the aggregate present value of
all amounts payable as Benefits shall be reduced to the Reduced Amount. The “Reduced Amount” will
be an amount, expressed in present value, that maximizes the aggregate present value of Benefits
without causing any Payment to create an excise tax liability under Section 4999 of the Code. For
purposes of this Section 3(d), present value will be determined in accordance with Section
280G(d)(4) of the Code.

     (e) Certain Reductions. The Company in its sole discretion, shall have the authority to
reduce an Eligible Executive Officer’s Benefits, in whole or in part, by any other severance
benefits, pay and benefits provided during a period following written notice of a plant closing or
mass layoff, pay and benefits in lieu of such notice, or other similar benefits payable to the
Eligible Executive Officer by the Company or an affiliate of the Company that become payable in
connection with the Eligible Executive Officer’s termination of employment pursuant to (i) any
applicable legal requirement, including without limitation, the Worker Adjustment and Retraining
Notification Act, the California Plant Closing Act, or any other similar state law, (ii) a written
employment or severance agreement with the Company, or (iii) any Company policy or practice
providing for the Eligible Executive Officer to remain on the payroll for a limited period of time
after being given notice of termination of the Eligible Executive Officer’s employment, and the
Plan Administrator shall so construe and implement the terms of the Plan. Any such reductions that
the Company determines to make pursuant to this Section 3(e) shall be made such that any Benefit
under the Plan shall be reduced solely by any similar type of benefit under such legal requirement,
agreement, policy or practice (i.e. any cash severance Benefits under the Plan shall be reduced
solely by any cash payments or severance benefits under such legal requirement, agreement, policy
or practice, and any continued insurance benefits under the Plan shall be reduced solely by an
continued insurance benefits under such legal requirement, agreement, policy or practice). The
Company’s decision to apply such reductions to the Benefits of one Eligible Executive Officer and
the amount of such reductions shall in no way obligate the

4.

 

Company to apply the same reductions in the same amounts to the Benefits of any other Eligible
Executive Officer, even if similarly situated. In the Company’s sole discretion, such reductions
may be applied on a retroactive basis, with severance Benefits previously paid being
re-characterized as payments pursuant to the Company’s statutory obligation.

Section 4. Time Of Payment; Right of Offset.

     (a) Time of Payment. Eligible Executive Officers will receive acceleration of vesting
Benefits upon a Change in Control (in the case of Retention Benefits pursuant to Section 3(a)) or
upon termination of employment (in the case of Severance Benefits pursuant to Sections 3(b)(3)).
Subject to adjustment pursuant to this Section 4, severance payments pursuant to Section 3(b)(1)
will be made in the form of equal installment payments on the Company’s regularly scheduled payroll
payment dates. COBRA Benefit payments pursuant to Section 3(b)(2) will be made at times deemed
appropriate by the Plan Administrator.

     (b) Acceleration of Severance Payments. Notwithstanding the payment schedule set forth in
Section 4(a), the timing of Severance payments may be accelerated in the following circumstances:

          (1) Acceleration of Portion of In-Process Severance Payments upon a Change in Control. If an
Eligible Executive Officer’s employment terminates prior to the effective date of a Change in
Control and the Company has commenced to pay but has not yet completed paying all severance
payments that would be made to the Eligible Executive Officer in accordance with the schedule set
forth in Section 4(a) at the time a subsequent Change in Control occurs, then upon the effective
date of such Change in Control the Company will pay the Exempted Amount (as defined below) to such
Eligible Executive Officer in a lump sum.

          (2) Acceleration of Portion of Severance Payments upon Termination of Employment after a
Change in Control. If an Eligible Executive Officer’s employment terminates on or after the
effective date of a Change in Control then upon the effective date of such termination of
employment (subject, however, to the release described in Section 2(a) first becoming effective)
the Company will pay the Exempted Amount (as defined below) to such Eligible Executive Officer in a
lump sum upon termination of employment.

          (3) Resumption of Installment Payments. The Company will pay the Remaining Amount, if any,
according to the installment schedule set forth in Section 4(a), beginning at the time the Exempted
Amount would have been paid in full if such amount were paid in accordance with the installment
schedule set forth in Section 4(a).

          (4) Definition of “Exempted Amount” and “Remaining Amount.” For the purposes of this Section
4(b):

               (A) “Exempted Amount” means the lesser of (a) the total of all severance payments owed but not
yet made to the Eligible Executive Officer on the effective date of a Change in Control (in the
case of Section 4(b)(1)) or termination of employment (in the case of Section 4(b)(2)) and (b) the
maximum amount of severance payments described in the last sentence of Section 4(c)(1). .

5.

 

               (B) “Remaining Amount” means the positive difference, if any, between (i) the total of all
severance payments owed but not yet made to the Eligible Executive Officer on the effective date of
a Change in Control (in the case of Section 4(b)(1)) or termination of employment (in the case of
Section 4(b)(2)) and (ii) the Exempted Amount.

     (c) Limitations. Notwithstanding anything to the contrary set forth herein:

          (1) Any Benefits provided under the Plan that constitute “deferred compensation” within the
meaning of Section 409A of the Code and any state law of similar effect (collectively “Section
409A”) shall not commence in connection with an Eligible Executive Officer’s termination of
employment unless and until the Eligible Executive Officer has also incurred a “separation from
service” (as such term is defined in Treasury Regulations Section 1.409A-1(h) (“Separation from
Service”), unless the Company reasonably determines that such amounts may be provided to the
Eligible Executive Officer without causing the Eligible Executive Officer to incur the adverse
personal tax consequences under Section 409A.

          (2) (i) no Benefit payment will be made, and no Benefit will be effective, under this Plan
prior to the last day of any waiting period or revocation period as required by applicable law in
order for the general waiver and release required by Section 2(a) of this Plan to be effective, and
(ii) if the Company determines that payments of any Benefits provided to an Eligible Executive
Officer pursuant to the Plan (any such payments, the “Plan Payments”) constitute “deferred
compensation” under Section 409A and if the Eligible Executive Officer is a “specified employee” of
the Company, as such term is defined in Section 409A(a)(2)(B)(i) (a “Specified Employee”), then,
solely to the extent necessary to avoid the adverse personal tax consequences under Section 409A,
the timing of the Plan Payments will be delayed as follows: on the earliest to occur of (1) the
date that is six (6) months and one (1) day after the date of the Eligible Executive Officer’s
Separation From Service, and (2) the date of the Eligible Executive Officer’s death (such earliest
date, the “Delayed Initial Payment Date”), the Company shall (A) pay the Eligible Executive Officer
a lump sum amount equal to the sum of the Plan Payments that the Eligible Executive Officer would
otherwise have received through the Delayed Initial Payment Date if the commencement of the payment
of the Plan Payments had not been delayed pursuant to this Section 4(a) and (B) commence paying the
balance of the Plan Payments in accordance with the applicable payment schedule. Prior to the
imposition of any delay on the Plan Payments as set forth above, it is intended that (i) each
installment of the Plan Payments be regarded as a separate “payment” for purposes of Treasury
Regulations Section 1.409A-2(b)(2)(i), (ii) all Plan Payments satisfy, to the greatest extent
possible, the exemptions from the application of Section 409A provided under Treasury Regulations
Sections 1.409A-1(b)(4) and 1.409A-1(b)(9)(iii), (iii) the Plan Payments consisting of COBRA
premiums also satisfy, to the greatest extent possible, the exemption from the application of
Section 409A provided under Treasury Regulations Section 1.409A-1(b)(9)(v), and (iv) the Exempted
amount may be paid pursuant to Section 4(b).

          (3) In no event shall payment of any Plan Payments under the Plan be made prior to an Eligible
Executive Officer’s termination date or prior to the effective date of the release described in
Section 2(a). If the Company determines that any Plan Payments constitute “deferred compensation”
under Section 409A, and the Eligible Executive Officer’s Separation from Service occurs at a time
during the calendar year when the release described in Section 2(a) could become effective in the
calendar year following the calendar year in which the Eligible

6.

 

Executive Officer’s Separation from Service occurs, then regardless of when the release is returned
to the Company and becomes effective, the release will not be deemed effective any earlier than the
latest permitted effective date (the “Release Deadline”). If the Company determines that any Plan
Payments constitute “deferred compensation” under Section 409A, then except to the extent that
payments may be delayed until the Delayed Initial Payment Date pursuant to Section 4(c)(2), on the
first regular payroll date following the effective date of an Eligible Executive Officer’s release,
the Company shall (A) pay the Eligible Executive Officer a lump sum amount equal to the sum of the
Plan Payments that the Eligible Executive Officer would otherwise have received through such
payroll date but for the delay in payment related to the effectiveness of the release and (B)
commence paying the balance, if any, of the Plan Payments in accordance with the applicable payment
schedule.

     (d) Right of Offset. If an Eligible Executive Officer is indebted to the Company at the time
any cash Benefits are payable, the Company reserves the right to offset any such Benefits under
this Plan by the amount of such indebtedness.

Section 5. Right To Interpret, Amend and Terminate Plan; Other Arrangements; Binding Nature Of Plan.

     (a) Exclusive Discretion. The Plan Administrator will have the exclusive discretion and
authority (1) to establish rules, forms and procedures for the administration of this Plan, (2) to
construe and interpret this Plan and (3) to decide any and all questions of fact, interpretation,
definition, computation or administration arising in connection with the operation of this Plan
including, but not limited to, the eligibility to participate in this Plan and the amount of
Benefits paid under this Plan. Such rules, interpretations, computations and other actions of the
Plan Administrator will be binding and conclusive on all persons.

     (b) Term Of Plan; Amendment Or Termination; Binding Nature Of Plan.

          (1) Subject to the provisions of Section 5(b)(2), this Plan will be effective until six months
after the first Change in Control has occurred; provided, however, that the Company’s obligations
to provide Benefits hereunder shall survive until all such Benefits have been paid.

          (2) This Plan may not be amended without the written consent of the Plan Administrator and
each Eligible Executive Officer affected by such amendment. This Plan will constitute a
contractual right to the Benefits to which such Eligible Executive Officer is entitled hereunder,
enforceable by the Eligible Executive Officer against the Company.

          (3) Any action amending or terminating this Plan will be in writing and executed by an officer
of the Company duly authorized by the Plan Administrator and any Eligible Executive Officers whose
consent is required.

     (c) Other Severance and Retention Arrangements. The Company reserves the right to make other
arrangements regarding severance and retention benefits in special circumstances.

     (d) Binding Effect On Successor To Company. This Plan will be binding upon any successor to
or assignee of the Company or its business or assets, whether direct or indirect, by

7.

 

Change in Control or otherwise. Any such successor or assignee will be required to perform the
Company’s obligations under this Plan. In such event, the term “Company,” as used in this Plan,
will mean the Company as hereinafter defined and any successor or assignee as described above which
by reason hereof becomes bound by the terms and provisions of this Plan.

Section 6. Definitions.

     Capitalized terms used in this Plan have the following meanings:

     (a) Benefits means Retention Benefits and Severance Benefits.

     (b) Board Composition Change means the occurrence of a change in the Board of Directors of the
Company in which the individuals who constituted the Board of Directors of the Company at the
beginning of the two-year period immediately preceding such change (together with any other
director whose election by the Board of Directors of the Company or whose nomination for election
by the stockholders of the Company was approved by a vote of a majority of the directors then in
office either who were directors at the beginning of such period or whose election or nomination
for election was previously so approved) cease for any reason to constitute a majority of the
directors then in office.

     (c) Cause means misconduct, including but not limited to: (1) conviction of any felony or any
crime involving moral turpitude or dishonesty; (2) participation in a fraud or act of dishonesty
against the Company; (3) any conduct that, based upon a good faith and reasonable factual
investigation and determination by the Company’s Board of Directors, demonstrates a gross unfitness
to serve; (4) any conduct that, based upon a good faith and reasonable factual investigation and
determination by the Company’s Board of Directors, consists of willful and repetitive acts having
the effect of injuring the business or reputation of the Company or any of its affiliates; or (5)
intentional, material violation of any contract between the Company and an Eligible Executive
Officer or any statutory duty owed by an Eligible Executive Officer to the Company that is not
corrected within 30 days after written notice to the Eligible Executive Officer. A physical or
mental disability will not constitute “Cause.”

     (d) Change in Control means any of the following:

          (1) a merger or consolidation of the Company after which the Company’s stockholders
immediately prior to the merger or consolidation do not have beneficial ownership of at least 50%
of the outstanding voting securities of the new or continuing entity or its parent entity (taking
into account only such stockholders’ ownership of the Company prior to such merger or consolidation
and not any other ownership of the new or continuing entity or its parent entity);

          (2) a transaction or series of related transactions to which the Company is a party and in
which a majority of the outstanding shares of the Company’s capital stock are sold, exchanged or
otherwise disposed of, after which the Company’s stockholders immediately prior to the first of
such transactions do not have beneficial ownership of at least 50% of the outstanding voting
securities of the Company or of the entity for which shares of the Company’s capital stock were
exchanged (in either such case, taking into account only such stockholders’ ownership of the
Company prior to the time such transaction or transactions commenced and not

8.

 

any other ownership of any entity for which shares of the Company’s capital stock were
exchanged); and

          (3) a transaction or series of related transactions in which the Company sells, licenses or
otherwise transfers for value all or substantially all of its assets to a single purchaser or group
of associated purchasers.

     (e) Code means the Internal Revenue Code of 1986, as may be amended from time to time, and the
regulations and other applicable guidance promulgated thereunder.

     (f) Company means Endwave Corporation, a Delaware corporation, and any successor as provided
in Section 5(d) of this Plan.

     (g) Eligible Executive Officer means Edward A. Keible, Jr. and John J. Mikulsky.

     (h) Good Reason means, with respect to an Eligible Executive Officer:

          (1) a material reduction in the Eligible Executive Officer’s rate of compensation (base salary
and bonus target), except a reduction applicable proportionally to all Eligible Executive Officers;

          (2) a substantial diminution in the Eligible Executive Officer’s job responsibilities and
authority (but not merely title) with respect to the Company;

          (3) a requirement that the Eligible Executive Officer relocate to a worksite that is more than
50 miles from his prior worksite; or

          (4) a material breach by the Company or any successor to the Company of any material
provisions of this Plan, including, but not limited to, the failure or refusal of any successor to
the Company to assume the Company’s obligations under this Plan pursuant to Section 5(d).

In order to terminate employment for Good Reason, (i) the Eligible Executive Officer must provide
written notice to the Company of the occurrence of one or more of the foregoing events within 30
days following the initial occurrence of the event, and (ii) the Company shall not be required to
provide any Benefits under the Plan if it is able to remedy such event(s) within a period of 30
days following such notice.

     (i) Payment has the meaning given to such term in Section 3(d) of this Plan.

     (j) Plan means this Endwave Corporation Senior Executive Officer Severance and Retention Plan.

     (k) Plan Administrator means the Compensation Committee of the Board of Directors of the
Company.

     (l) Plan Sponsor means the Company as “Plan Sponsor” within the meaning of ERISA.

9.

 

     (m) Reduced Amount has the meaning given to such term in Section 3(d) of this Plan.

     (n) Retention Benefits means the benefits calculated pursuant to Section 3(a) of this Plan.

     (o) Severance Benefits means the benefits calculated pursuant to Section 3(b) of this Plan.

Section 7. No Implied Employment Contract.

     This Plan does not give any employee or other person any right to be retained in the employ of
the Company. The Company’s right to discharge any employee or other person at any time and for any
reason is hereby reserved.

Section 8. Legal Construction.

     This Plan is intended to be governed by and will be construed in accordance with the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”), and, to the extent not preempted by
ERISA, the laws of the State of California.

Section 9. Claims, Inquiries And Appeals.

     (a) Applications For Benefits And Inquiries. Any application for Benefits, inquiries about the
Plan or inquiries about present or future rights under the Plan must be submitted to the Plan
Administrator in writing by an applicant (or his authorized representative) at the following
address. The Plan Administrator is the named fiduciary charged with the responsibility for
administering the Plan.

Endwave Corporation

Attn: Plan Administrator for the

Executive Officer Severance and Retention Plan

130 Baytech Drive

San Jose, CA 95134

     (b) Denial Of Claims. In the event that any application for Benefits is denied in whole or in
part, the Plan Administrator must provide the applicant with written or electronic notice of the
denial of the application, and of the applicant’s right to review the denial. Any electronic notice
will comply with the regulations of the U.S. Department of Labor. The notice of denial will be set
forth in a manner designed to be understood by the applicant and will include the following: (i)
the specific reason or reasons for the denial; (ii) references to the specific Plan provisions upon
which the denial is based; (iii) a description of any additional information or material that the
Plan Administrator needs to complete the review and an explanation of why such information or
material is necessary; and (iv) an explanation of the Plan’s review procedures and the time limits
applicable to such procedures, including a statement of the applicant’s right to bring a civil
action under Section 502(a) of ERISA following a denial on review of the claim, as described in
Section 9(d) below. This notice of denial will be given to the applicant within 90 days after the
Plan Administrator receives the application, unless special circumstances require an extension of
time, in which case, the Plan Administrator has up to an additional 90 days for processing the
application. If an extension of time for processing is

10.

 

required, written notice of the extension will be furnished to the applicant before the end of the
initial 90-day period. This notice of extension will describe the special circumstances
necessitating the additional time and the date by which the Plan Administrator is to render its
decision on the application.

     (c) Request For A Review. Any person (or that person’s authorized representative) for whom an
application for Benefits is denied, in whole or in part, may appeal the denial by submitting a
request for a review to the Plan Administrator within 60 days after the application is denied. A
request for a review shall be in writing and shall be addressed to:

Endwave Corporation

Attn: Plan Administrator for the

Executive Officer Severance and Retention Plan

130 Baytech Drive

San Jose, CA 95134

A request for review must set forth all of the grounds on which it is based, all facts in support
of the request and any other matters that the applicant feels are pertinent. The applicant (or his
representative) shall have the opportunity to submit (or the Plan Administrator may require the
applicant to submit) written comments, documents, records, and other information relating to his
claim. The applicant (or his representative) shall be provided, upon request and free of charge,
reasonable access to, and copies of, all documents, records and other information relevant to his
claim. The review shall take into account all comments, documents, records and other information
submitted by the applicant (or his representative) relating to the claim, without regard to whether
such information was submitted or considered in the initial Benefit determination.

     (d) Decision On Review. The Plan Administrator will act on each request for review within
sixty (60) days after receipt of the request, unless special circumstances require an extension of
time (not to exceed an additional sixty (60) days), for processing the request for a review. If an
extension for review is required, written notice of the extension will be furnished to the
applicant within the initial sixty (60) day period. This notice of extension will describe the
special circumstances necessitating the additional time and the date by which the Plan
Administrator is to render its decision on the review. The Plan Administrator will give prompt,
written or electronic notice of its decision to the applicant. Any electronic notice will comply
with the regulations of the U.S. Department of Labor. In the event that the Plan Administrator
confirms the denial of the application for Benefits in whole or in part, the notice will set forth,
in a manner calculated to be understood by the applicant, the following: (i) the specific reason or
reasons for the denial; (ii) references to the specific Plan provisions upon which the denial is
based; (iii) a statement that the applicant is entitled to receive, upon request and free of
charge, reasonable access to, and copies of, all documents, records and other information relevant
to his claim; and (iv) a statement of the applicant’s right to bring a civil action under Section
502(a) of ERISA.

     (e) Rules And Procedures. The Plan Administrator will establish rules and procedures,
consistent with the Plan and with ERISA, as necessary and appropriate in carrying out its
responsibilities in reviewing Benefit claims. The Plan Administrator may require an applicant who
wishes to submit additional information in connection with an appeal from the denial of Benefits to
do so at the applicant’s own expense.

11.

 

     (f) Exhaustion Of Remedies. No legal action for Benefits under the Plan may be brought until
the applicant (i) has submitted a written application for Benefits in accordance with the
procedures described by Section 9(a) above, (ii) has been notified by the Plan Administrator that
the application is denied, (iii) has filed a written request for a review of the application in
accordance with the appeal procedure described in Section 9(c) above, and (iv) has been notified
that the Plan Administrator has denied the appeal. Notwithstanding the foregoing, if the Plan
Administrator does not respond to an applicant’s claim or appeal within the relevant time limits
specified in this Section 9, the applicant may bring legal action for Benefits under the Plan
pursuant to Section 502(a) of ERISA.

Section 10. Basis Of Payments To And From Plan.

     All Benefits under the Plan will be paid by the Company. The Plan will be unfunded, and
Benefits hereunder will be paid only from the general assets of the Company.

Section 11. Other Plan Information.

     (a) Employer And Plan Identification Numbers. The Employer Identification Number assigned to
the Company (which is the “Plan Sponsor” as that term is used in ERISA) by the Internal Revenue
Service is 95-4333817. The Plan Number assigned to the Plan by the Plan Sponsor pursuant to the
instructions of the Internal Revenue Service is 515.

     (b) Ending Date For Plan’s Fiscal Year. The date of the end of the fiscal year for the
purpose of maintaining the Plan’s records is December 31.

     (c) Agent For The Service Of Legal Process. The agent for the service of legal process with
respect to the Plan is the Chairman of the Compensation Committee, Endwave Corporation, 130 Baytech
Drive, San Jose, CA 95134.

Section 12. Statement Of Erisa Rights.

     Participants in this Plan (which is a welfare benefit plan sponsored by Endwave Corporation)
are entitled to certain rights and protections under ERISA. Each Eligible Executive Officer is
considered a participant in the Plan and, under ERISA, is entitled to:

     (a) Receive Information About the Plan and Benefits.

          (1) Examine, without charge, at the Plan Administrator’s office and at other specified
locations, such as worksites, all documents governing the Plan and a copy of the latest annual
report (Form 5500 Series), if applicable, filed by the Plan with the U.S. Department of Labor and
available at the Public Disclosure Room of the Employee Benefits Security Administration;

          (2) Obtain, upon written request to the Plan Administrator, copies of documents governing the
operation of the Plan and copies of the latest annual report (Form 5500 Series), if applicable, and
an updated (as necessary) Summary Plan Description. The Plan Administrator may make a reasonable
charge for the copies; and

12.

 

          (3) Receive a summary of the Plan’s annual financial report, if applicable. The Plan
Administrator is required by law to furnish each participant with a copy of this summary annual
report.

     (b) Prudent Actions by Plan Fiduciaries. In addition to creating rights for Plan
participants, ERISA imposes duties upon the people who are responsible for the operation of the
employee benefit plan. The people who operate the Plan, called “fiduciaries” of the Plan, have a
duty to do so prudently and in the interest of Plan participants and beneficiaries. No one,
including the employer of the participants or any other person, may fire a participant or otherwise
discriminate against participants in any way to prevent a participant from obtaining a Plan Benefit
or exercising his rights under ERISA.

     (c) Enforce Participant Rights. If a participant’s claim for a Plan Benefit is denied or
ignored, in whole or in part, the participant has a right to know why this was done, to obtain
copies of documents relating to the decision without charge, and to appeal any denial, all within
certain time schedules.

     Under ERISA, there are steps a participant can take to enforce the above rights. For instance,
if a participant requests a copy of Plan documents or the latest annual report from the Plan, if
applicable, and does not receive them within thirty (30) days, he may file suit in a Federal court.
In such a case, the court may require the Plan Administrator to provide the materials and pay the
participant up to $110 a day until he receives the materials, unless the materials were not sent
because of reasons beyond the control of the Plan Administrator.

     If a participant has a claim for Benefits that is denied or ignored, in whole or in part, he
may file suit in a state or Federal court.

     If a participant is discriminated against for asserting his rights, the participant may seek
assistance from the U.S. Department of Labor, or he may file suit in a Federal court. The court
will decide who should pay court costs and legal fees. If the participant is successful, the court
may order the person the participant has sued to pay these costs and fees. If the participant
loses, the court may order the participant to pay these costs and fees, for example, if it finds
his claim is frivolous.

     (d) Assistance with Questions. If a participant has any questions about the Plan, the
participant should contact the Plan Administrator. If a participant has any questions about this
statement or about his rights under ERISA, or if a participant needs assistance in obtaining
documents from the Plan Administrator, the participant should contact the nearest office of the
Employee Benefits Security Administration, U.S. Department of Labor, listed in the telephone
directory or the Division of Technical Assistance and Inquiries, Employee Benefits Security
Administration, U.S. Department of Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210.
Participants may also obtain certain publications about their rights and responsibilities under
ERISA by calling the publications hotline of the Employee Benefits Security Administration.

13.

 

Section 13. Execution.

     To record the amendment and restatement of the Plan as set forth herein, the Company has
caused its duly authorized officer to execute the same this
___ day of ___, 2009.

	 	 	 	 	 
	 	Endwave Corporation

 	 
	 	By:  	/s/ Edward A. Keible, Jr.
 	 
	 	 	Edward A. Keible, Jr. 	 
	 	 	Chief Executive Officer 	 
	 

 

 

Exhibit A

RELEASE AGREEMENT

     I understand and agree completely to the terms set forth in the Endwave Corporation Executive
Officer Severance and Retention Plan (the “Plan”).

     I understand that this Release Agreement, together with the Plan, constitutes the complete,
final and exclusive embodiment of the entire agreement between Endwave Corporation (the “Company”)
and me with regard to the subject matter hereof. I am not relying on any promise or representation
by the Company that is not expressly stated therein. Certain capitalized terms used in this
Release Agreement are defined in the Plan.

     I hereby acknowledge my continuing obligations not to use or disclose confidential or
proprietary information of the Company without prior written authorization from a duly authorized
representative of the Company.

     Except as otherwise set forth in this Release Agreement, in consideration of the benefits I
will receive under the Plan that I am not otherwise entitled to receive, I hereby generally and
completely release the Company and its parents, subsidiaries, successors, predecessors and
affiliates, and its and their partners, members, current and former directors, officers, employees,
stockholders, shareholders, agents, attorneys, predecessors, insurers, affiliates and assigns, from
any and all claims, liabilities and obligations, both known and unknown, that arise out of or are
in any way related to events, acts, conduct, or omissions occurring at any time prior to and
including the date I sign this Release Agreement. This general release includes, but is not
limited to: (a) all claims arising out of or in any way related to my employment with the Company
or the termination of that employment; (b) all claims related to my compensation or benefits from
the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements,
severance pay, fringe benefits, stock, stock options, or any other ownership interests in the
Company; (c) all claims for breach of contract, wrongful termination, and breach of the implied
covenant of good faith and fair dealing; (d) all tort claims, including claims for fraud,
defamation, emotional distress, and discharge in violation of public policy; and (e) all federal,
state, and local statutory claims, including claims for discrimination, harassment, retaliation,
attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended),
the federal Americans with Disabilities Act of 1990 (as amended), the federal Age Discrimination in
Employment Act of 1967 (as amended) (“ADEA”), the federal Employee Retirement Income Security Act
of 1974 (as amended), the federal Family and Medical Leave Act, and the California Fair Employment
and Housing Act (as amended).

     I understand that I am not releasing any claim that cannot be waived under applicable state or
federal law. I am not releasing any rights that I have to be indemnified (including any right to
reimbursement of expenses) arising under applicable law, the certificate of incorporation or
by-laws (or similar constituent documents of the Company), any indemnification agreement between me
and the Company, or any directors’ and officers’ liability insurance policy of the Company.
Nothing in this Agreement shall prevent me from filing, cooperating with, or participating in any
proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the
California Department of Fair Employment and Housing, except

 

 

that I hereby acknowledge and agree that I shall not recover any monetary benefits in
connection with any such proceeding with regard to any claim released in this Agreement. Nothing
in this Agreement shall prevent me from challenging the validity of the release in a legal or
administrative proceeding.

     I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have
under the ADEA, and that the consideration given under the Plan for the waiver and release in the
preceding paragraph hereof is in addition to anything of value to which I was already entitled. I
further acknowledge that I have been advised by this writing, as required by the ADEA, that: (a)
my waiver and release do not apply to any rights or claims that may arise after the date I sign
this Release Agreement; (b) I should consult with an attorney prior to signing this Release
Agreement (although I may choose voluntarily not to do so); (c) I have 21 [or 45, if more than one
employee is terminated; also needs disclosure form] days to consider this Release Agreement
(although I may choose voluntarily to sign this Release Agreement earlier); (d) I have seven days
following the date I sign this Release Agreement to revoke the Release Agreement by providing
written notice to an office of the Company; and (e) this Release Agreement shall not be effective
until the date upon which the revocation period has expired unexercised, which shall be the eighth
day after I sign this Release Agreement.

     In giving the release herein, which includes claims which may be unknown to me at present, I
acknowledge that I have read and understand Section 1542 of the California Civil Code which reads
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
must have materially affected his or her settlement with the debtor.” I hereby expressly waive and
relinquish all rights and benefits under that section and any law of any jurisdiction of similar
effect with respect to my release of any unknown or unsuspected claims hereunder.

     I hereby represent that I have been paid all compensation owed and for all hours worked, have
received all the leave and leave benefits and protections for which I am eligible, pursuant to the
Family and Medical Leave Act or otherwise, and have not suffered any on-the-job injury for which I
have not already filed a claim.

	 	 	 	 	 
	 

	 	Employee Name (print):	 	 
	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	Signature:	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	Date:

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