Document:

Management Retention Agreement between the registrant and Jonathan Rubinstein

 Exhibit 10.37 
 Palm, Inc. 
 Management Retention Agreement 
 This Management Retention Agreement (the “Agreement”) is made and entered into by and between Jonathan Rubinstein (the “Employee”)
and Palm, Inc. (the “Company”), effective on the Employee’s first day of employment with the Company (the “Effective Date”). 
 RECITALS 
 A. It is expected that the Company from time to time may consider a Change of Control (as
defined below). The Board of Directors of the Company (the “Board”) recognizes that such consideration can be a distraction to the Employee and can cause the Employee to consider alternative employment opportunities. The Board has
determined that it is in the best interests of the Company and its stockholders to assure that the Company will have the continued dedication and objectivity of the Employee, notwithstanding the possibility, threat or occurrence of a Change of
Control of the Company. 
 B. The Board believes that it is in the best interests of the Company and its stockholders to provide the Employee
with an incentive to continue his employment and to motivate the Employee to maximize the value of the Company upon a Change of Control for the benefit of its stockholders. 
 C. The Board believes that it is imperative to provide the Employee with severance benefits upon Employee’s termination of employment following a
Change of Control which provides the Employee with enhanced financial security and incentive and encouragement to remain with the Company notwithstanding the possibility of a Change of Control. 
 D. Certain capitalized terms used in this Agreement are defined in Section 5 below. 
 The parties hereto agree as follows: 
 1.
Term of Agreement. This Agreement shall commence on the Employee’s first day of employment with the Company and shall terminate upon the date that all obligations of the parties hereto with respect to this Agreement have been satisfied.

 2. At-Will Employment. The Company and the Employee acknowledge that the Employee’s employment will be at-will, as defined
under applicable law, and may be terminated by either party at any time, with or without cause or notice. If the Employee’s employment terminates for any reason, including (without limitation) any termination prior to a Change of Control, the
Employee shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement, or as may otherwise be available in accordance with the Company’s established employee plans or pursuant to
other written agreements with the Company, including the Employee’s Severance Agreement. 

 3. Change of Control Benefits. 
 (a) Equity Compensation. If a Change of Control occurs before the date that Employee’s employment with the Company is terminated, or within
three (3) months following the date that the Employee’s employment with the Company is terminated by the Company without Cause or by Employee for a Voluntary Termination for Good Reason, then: 
 (i) One Hundred percent (100%) of the unvested portion of any stock option held by the Employee shall be automatically accelerated in full so as to
become completely vested and shall have a post-termination of employment exercise period equal to the earlier of the original option term or twelve (12) months from Employee’s date of termination of employment. 
 (ii) One Hundred percent (100%) of the unvested portion of any restricted stock, restricted stock units, performance shares or other Company equity
compensation held by the Employee shall be automatically accelerated in full so as to become completely vested and shall be immediately paid, less any applicable tax withholding. 
 (b) Involuntary Termination other than for Cause, Death or Disability or Voluntary Termination for Good Reason Following A Change of Control. If,
within three (3) months prior to or twelve (12) months following a Change of Control, Employee’s employment with the Company (or any subsidiary thereof) is terminated (i) involuntarily by the Company (or any subsidiary thereof)
other than for Cause, death or Disability or (ii) by the Employee pursuant to a Voluntary Termination for Good Reason, then, subject to Employee entering into a standard form of mutual release of claims with the Company, the Company shall
provide Employee with the following benefits upon such termination: 
 (i) Severance Payment. A lump-sum cash payment in an amount
equal to one hundred percent (100%) of the Employee’s Annual Compensation, which shall be paid to the Employee on the day following the six-month anniversary of such termination of employment. 
 (ii) Continued Employee Benefits. Company-paid health, dental, vision, long-term disability and life insurance coverage at the same level of
coverage as was provided to such Employee immediately prior to the Change of Control and at the same ratio of Company premium payment to Employee premium payment as was in effect immediately prior to the Change of Control (the “Company-Paid
Coverage”). If such coverage included the Employee’s dependents immediately prior to the Change of Control, such dependents shall also be covered at Company expense. Company-Paid Coverage shall continue until the earlier of (A) two
years from the date of termination, or (B) the date upon which the Employee and his dependents become covered under another employer’s group health, dental, vision, long-term disability or life insurance plans that provide Employee and his
dependents with comparable benefits and levels of coverage. For purposes of Title X of the Consolidated Budget Reconciliation Act of 1985 (“COBRA”), the date of the “qualifying event” for Employee and his dependents shall be
the date upon which the Company-Paid Coverage commences, and each month of Company-Paid Coverage provided hereunder shall offset a month of continuation coverage otherwise due under COBRA. 
  

 2 

 (iii) Pro-Rated Bonus Payment. A lump-sum cash payment, which shall be paid to the Employee on
the day following the six-month anniversary of such termination of employment, equal to one hundred percent (100%) of the higher of (A) Employee’s target bonus as in effect for the fiscal year in which the Change of Control occurs or
(B) Employee’s target bonus as in effect for the fiscal year in which Employee’s termination occurs, pro-rated by multiplying such bonus amount in clause (A) or (B), as applicable, by a fraction, the numerator of which shall be
the number of days prior to Employee’s termination during such fiscal year, and the denominator of which shall be three hundred and sixty-five. 
 (c) Voluntary Resignation; Termination For Cause. If the Employee’s employment terminates by reason of the Employee’s voluntary resignation (and is not a Voluntary Termination for Good Reason), or if
the Employee is terminated for Cause, then the Employee shall not be entitled to receive severance or other benefits except for those (if any) as may then be established under the Company’s (or any subsidiary’s) then existing severance and
benefits plans or pursuant to other written agreements with the Company (or any subsidiary thereof). 
 (d) Disability; Death. If the
Employee’s employment with the Company (or any subsidiary thereof) terminates as a result of the Employee’s Disability, or if Employee’s employment is terminated due to the death of the Employee, then the Employee shall not be
entitled to receive severance or other benefits except for those (if any) as may then be established under the Company’s (or any subsidiary’s) then existing severance and benefits plans or pursuant to other written agreements with the
Company (or any subsidiary thereof). 
 (e) Termination Apart from Change of Control. In the event the Employee’s employment is
terminated for any reason, either more than three (3) months prior to the occurrence of a Change of Control or after the twelve (12) month period following a Change of Control, then the Employee shall be entitled to receive severance and
any other benefits only as may then be established under the Company’s (or any subsidiary’s) then existing severance and benefits plans or pursuant to other written agreements with the Company and the Employee’s Severance Agreement.

 4. Golden Parachute Excise Tax. 
 (a) In the event that the benefits provided for in this Agreement or otherwise provided by the Company (or any subsidiary thereof) to the Employee (including, but not by way of limitation, any accelerated vesting on
equity awards) (the “Total Payments”) would subject the Employee to an excise tax (the “Excise Tax”) imposed under Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), then the Company (or
any subsidiary thereof that employs the Employee at such time) will pay the Employee (i) an amount sufficient to pay the excise tax, and (ii) an additional amount sufficient to pay the Excise Tax and federal, state and local income and
employment taxes arising from the payments made by the Company (or any subsidiary thereof that employs the Employee at such time) pursuant to this sentence. Any amount required to be paid to the Employee pursuant to the preceding sentence shall be
referred to as the “Gross-Up Payment.” 
 (b) The determination of the Employee’s Excise Tax liability and the amount, if any,
required to be paid under this Section 4 will be made in writing by independent auditors at one of the four largest United States accounting firms mutually agreed to by the Employee and the Company 

  

 3 

 
(the “Accountants”). For purposes of making the calculations required by this Section 4, the Employee shall be deemed to pay federal, state
and local income taxes at the highest marginal rate in effect in the calendar year in which the Gross-Up Payment will be made, based on the Employee’s residence. The Accountants may make reasonable assumptions and approximations concerning
applicable taxes and may rely on reasonable, good faith interpretations concerning the application of Sections 280G and 4999 of the Code. The Company (or any subsidiary thereof that employs the Employee at such time) and the Employee shall
furnish to the Accountants such information and documents as the Accountants may reasonably request in order to make a determination under this Section 4. The Company will pay all costs the Accountants may reasonably incur in connection with
any calculations contemplated by this Section 4. 
 (c) The Accountants shall determine the Gross-Up Payment as soon as practicable
after (i) the Change of Control (but in no event later than 15 days after the Change of Control), and also after (ii) the Employee’s termination of employment (but in no event later than 15 days after the termination). In addition,
the Accountants shall make a determination of any Gross-Up Payment prior to a Change of Control or the Employee’s termination of employment upon written request of the Employee and assuming the Employee has a reasonable basis for believing that
he may be entitled to a Gross-Up Payment prior to the Change of Control or termination of employment. The Gross-Up Payment shall be paid to the Employee within five days after the Accountants’ determination. In the event that the initial
Gross-Up Payment made to the Employee is finally determined to be too large or small, the following rules shall apply. If the initial Gross-Up Payment was too small, the Company (or any subsidiary thereof that employs the Employee at such time)
shall promptly make an additional payment to the Employee equal to the shortfall (plus any interest, penalties or additional amounts payable by executive with respect to such excess). If the initial Gross-Up Payment is too large, then the Employee
shall repay the amount of the excess to the Company (or any subsidiary that has made such payment to the Employee), plus interest on the amount of such repayment at 120% of the applicable federal rate provided in section 1274 of the Code, but only
to the extent that such repayment by the Employee would result in a dollar-for-dollar reduction in the Executive’s taxable income and wages for purposes of federal, state and local income and employment taxes). The Executive and the Company (or
any subsidiary thereof that employs the Employee at such time) shall each reasonably cooperate with the other in connection with any administrative or judicial proceedings concerning the existence or amount of the Excise Tax with respect to the
Total Payments (and associated income taxes, penalties and interest). 
 5. Definition of Terms. The following terms referred to in
this Agreement shall have the following meanings: 
 (a) Annual Compensation. “Annual Compensation” shall mean an amount
equal to the sum of (i) the Employee’s annual base salary, and (ii) 100% of the Employee’s Target Bonus, as in effect on the date of the Change of Control or Employee’s termination, in each case, whichever is higher.

 (b) Target Bonus. “Target Bonus” shall mean Employee’s annual bonus, assuming 100% “on target”
satisfaction of any objective or subjective performance milestones. 
  

 4 

 (c) Cause. “Cause” shall mean (i) an act of personal dishonesty taken by the
Employee in connection with his responsibilities as an employee and intended to result in substantial personal enrichment of the Employee, (ii) Employee being convicted of a felony that negatively reflects on the Employee’s fitness to
perform his duties or harms the Company’s reputation in business, (iii) Employee’s willful misconduct, which is injurious to the Company (or any subsidiary thereof that employs the Employee at such time), or (iv) the
Employee’s failure to perform the duties of his position (as they may exist from time to time) to the reasonable satisfaction of the Company’s Board of Directors after receipt of a written warning and after the Employee has had thirty
(30) days to cure such failure to perform. 
 (d) Change of Control. “Change of Control” means the occurrence of any of
the following events: 
 (i) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of
1934, as amended) becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by
the Company’s then outstanding voting securities who is not already such as of the Effective Date of this Agreement; or 
 (ii) The
consummation of the sale or disposition by the Company of all or substantially all the Company’s assets; or 
 (iii) The consummation
of a merger or consolidation of the Company with any other entity, 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 or its parent) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent
outstanding immediately after such merger or consolidation; or 
 (iv) A change in the composition of the Board occurring within a one-year
period, as a result of which fewer than a majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean directors (A) who are directors of the Company as of the date upon which this Agreement was entered into, or
(B) whose appointment or election is endorsed by a majority of the members of the Board before the date of the appointment or election. 
 (e) Disability. “Disability” means the Employee being unable to perform the principal functions of his duties due to a physical or mental impairment, but only if such inability has lasted or is reasonably expected to last
for at least six months. The Company will determine whether a Disability exists based on evidence provided by one or more physicians approved by the Company. 
 (f) Voluntary Termination for Good Reason. “Voluntary Termination for Good Reason” shall mean the Employee voluntarily resigns after the occurrence of any of the following without the Employee’s
express written consent (i) a material reduction of the Employee’s duties, title, authority or responsibilities, relative to the Employee’s duties, title, authority or responsibilities as in effect immediately prior to such reduction,
or the assignment to Employee of such reduced duties, title, authority or responsibilities; (ii) a material reduction, without good business reasons, of 

  

 5 

 
the facilities and perquisites (including office space and location) available to the Employee immediately prior to such reduction; (iii) a reduction by
the Company in the base salary of the Employee as in effect immediately prior to such reduction; (iv) a material reduction by the Company in the aggregate level of employee benefits, including bonuses, to which the Employee was entitled
immediately prior to such reduction with the result that the Employee’s aggregate benefits package is materially reduced (other than a reduction that generally applies to Company employees); (v) the relocation of the Employee to a facility
or working location more than thirty-five (35) miles from the Employee’s facility or working location at such time; (vi) the failure of the Company to obtain the assumption of this agreement by any successors contemplated in
Section 7(a) below; (vii) the requirement by the Company or any successor to the Company that the Employee devote more than fifty percent of his time to the Company’s (or its successor’s) business; (viii) the breach by the
Company of this Agreement, the Employee’s Offer Letter or Severance Agreement; or (ix) any act or set of facts or circumstances which would, under California case law or statute constitute a constructive termination of the Employee.

 6. Non-Solicitation. In consideration for the severance benefits Employee is to receive herein, if any, Employee agrees for a
period of one year following his termination date, he will not either directly or indirectly solicit any individuals to leave the Company’s (or any of its subsidiaries’) employ for any reason or interfere in any other manner with the
employment relationships at the time existing between the Company (or any of its subsidiaries) and its employees. 
 7. Assignment.

 (a) Company’s Successors. Any successor to the Company (whether direct or indirect and whether by purchase, merger,
consolidation, liquidation or otherwise) to all or substantially all of the Company’s business and/or assets shall assume the obligations under this Agreement and agree expressly to perform the obligations under this Agreement in the same
manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession. For all purposes under this Agreement, the term “Company” shall include any such successor to the
Company’s business and/or assets which executes and delivers the assumption agreement described in this Section 7(a) or which becomes bound by the terms of this Agreement by operation of law. 
 (b) Employee’s Successors. The terms of this Agreement and all rights of the Employee hereunder shall inure to the benefit of, and be
enforceable by, the Employee’s personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. 
 8. Notice. 
 (a) General. Notices and all other communications contemplated by this Agreement
shall be in writing and shall be deemed to have been duly given when personally delivered or one day following mailing via Federal Express or similar overnight courier service. In the case of the Employee, mailed notices shall be addressed to him at
the home address which he most recently communicated to the Company in writing. In the case of the Company, mailed notices shall be addressed to its corporate headquarters, and all notices shall be directed to the attention of its General Counsel.

  

 6 

 (b) Notice of Termination. Any termination of the Employee by the Company (or any subsidiary
thereof that employs the Employee at such time) for Cause or by the Employee pursuant to a Voluntary Termination for Good Reason as contemplated by Section 3(a) shall be communicated by a notice of termination to the other party hereto given in
accordance with Section 8(a) of this Agreement. Such notice shall indicate the specific termination provision in this Agreement relied upon, shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination under the provision so indicated, and shall specify the termination date (which shall be not more than 30 days after the giving of such notice). The failure by the Employee to include in the notice any fact or circumstance which
contributes to a showing of Voluntary Termination for Good Reason shall not waive any right of the Employee hereunder or preclude the Employee from asserting such fact or circumstance in enforcing his rights hereunder. 
 9. Miscellaneous Provisions. 
 (a)
No Duty to Mitigate. The Employee shall not be required to mitigate the value of any benefits contemplated by this Agreement, nor shall any such benefits be reduced by any earnings or benefits that the Employee may receive from any other
source. 
 (b) Waiver. No provision of this Agreement shall be modified, waived or discharged unless the modification, waiver or
discharge is agreed to in writing and signed by the Employee and by two authorized officers of the Company (other than the Employee). No waiver by either party of any breach of, or compliance with, any condition or provision of this Agreement by the
other party shall be considered a waiver of any other condition or provision or of the same condition or provision at another time. Executive and the Company agree to work in good faith to consider amendments to this Agreement which are
necessary or appropriate to avoid imposition of any additional tax or income recognition to Executive under Section 409A of the Internal Revenue Code and any proposed, temporary or final Treasury Regulations and Internal Revenue
Service guidance thereunder. The parties agree to cooperate with each other and to take reasonably necessary steps in this regard. 
 (c)
Whole Agreement. No agreements, representations or understandings (whether oral or written and whether express or implied) which are not expressly set forth in this Agreement have been made or entered into by either party with respect to the
subject matter hereof. This Agreement, together with the Employee’s Offer Letter and Severance Agreement, represent the entire understanding of the parties hereto with respect to the subject matter hereof and supersedes all prior arrangements
and understandings regarding same. 
 (d) Choice of Law. The validity, interpretation, construction and performance of this Agreement
shall be governed by the laws of the State of California. 
 (e) Severability. The invalidity or unenforceability of any provision or
provisions of this Agreement shall not affect the validity or enforceability of any other provision hereof, which shall remain in full force and effect. 
  

 7 

 (f) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an
original, but all of which together will constitute one and the same instrument. 
 [Remainder of Page Intentionally Left Blank]

  

 8 

 IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its
duly authorized officer, as of the day and year set forth below. 
  

			
	Palm, Inc.
		
	By:	 	 /S/ RENA A. LANE

		
	Title:	 	 Senior Vice President, Human Resources

		
	Date:	 	 June 1, 2007

	
	EMPLOYEE
	
	 /S/ JONATHAN RUBINSTEIN

	Jonathan Rubinstein
		
	Date:	 	 June 2, 2007Severance Agreement between the registrant and Jonathan Rubinstein

 Exhibit 10.38 
 Palm Inc. 
 SEVERANCE AGREEMENT 
 This Agreement is made by and between Palm, Inc. (the “Company”), and you, Jonathan Rubinstein, effective as of your first day of employment
with the Company (the “Effective Date”). For purposes of this Agreement, the “Company” shall include any parent or subsidiary of the Company, unless the context clearly requires otherwise. 
 This Agreement is intended to strongly encourage you to remain with the Company by providing you with certain severance benefits in the event that your
employment with the Company terminates under certain circumstances. 
 This Agreement also is intended to provide you with enhanced financial
security in recognition of your service to the Company. 
 1. Eligibility for Severance Benefits. You will be entitled to the payments
and benefits described in Section 2 only if: (a) either (1) the Company terminates your employment for a reason other than Cause, death or Disability, or (2) you terminate your employment with the Company pursuant to a Voluntary
Termination for Good Reason, and (b) you both (1) sign and deliver to the Company a Release of Claims satisfactory to the Company, and (2) comply with all of the terms of this Agreement, including (but not limited to) Section 6
regarding Non-Solicitation of Employees. Notwithstanding the preceding, if your termination of employment would qualify you for payments and benefits under your Management Retention Agreement with the Company dated as of even date herewith, you will
receive neither the payments nor the benefits described in Section 2. Instead, you will receive the payments and benefits to which you are entitled under your Management Retention Agreement. 
 2. Severance Benefits. If you meet the eligibility requirements described in Section 1, you will receive the following. 
 (a) Lump Sum Payments. You will receive a lump sum payment equal to 100% of your annual base salary in effect immediately prior to the date of your
termination of employment (the “Termination Date”). The payment will be made on the day following the six-month anniversary of the Termination Date. 
 (b) Option Vesting. Any shares covered by Company stock options, whether granted to you before, on or after the Effective Date that are unvested and unexpired on the Termination Date, except for options that
vest solely upon the achievement of a performance objective or objectives or options that have their vesting accelerate upon the achievement of a performance objective or objectives, will become fully vested and exercisable on the Termination Date
if the shares otherwise would have vested (solely by virtue of your continued employment with the 

 
Company and not, directly or indirectly, due to a Change of Control of the Company as defined in your Management Retention Agreement) during the one-year
period commencing on the Termination Date. Any options that vest based upon a combination of a performance objective that has been met as of the Termination Date and a time-based vesting schedule will be treated for purposes of this paragraph as if
they vested solely on a time-based vesting schedule. Any other unvested options will be forfeited on the Termination Date. 
 (c) Lapse of
Restrictions on Restricted Stock. Fifty percent of any shares of stock that you have purchased from the Company that remain subject to a right of repurchase on the Termination Date will vest on the Termination Date and the Company’s right
of repurchase will terminate on that date, except for shares that vest and have the Company’s right of repurchase terminate solely upon the achievement of a performance objective or objectives or shares that have their vesting accelerate and
have the Company’s right of repurchase terminate upon the achievement of a performance objective or objectives. Any shares of stock that have a right of repurchase that lapses based upon a combination of a performance objective that has been
met as of the Termination Date and a time-based vesting schedule will be treated for purposes of this paragraph as if they vested solely on a time-based vesting schedule. 
 (d) Acceleration of Restricted Stock Units. Fifty percent of any unvested restricted stock units (also known as performance shares) with respect to Company stock that are unvested and unexpired on the
Termination Date will vest and be paid on the Termination Date, except for restricted stock units that vest with a contingency based upon the achievement of a performance objective or objectives or that have their vesting accelerate upon the
achievement of a performance objective or objectives. Any restricted stock units that vest based upon a combination of a performance objective that has been met as of the Termination Date and a time-based vesting schedule will be treated for
purposes of this paragraph as if they vested solely on a time-based vesting schedule. 
 (e) Other Benefits. The Company will provide
you with health, dental and vision benefits coverage during the one-year period beginning on the Termination Date, but only if you elect continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended
(“COBRA”), within the time period prescribed pursuant to COBRA. For the duration of the one-year period, the Company will pay the COBRA premiums otherwise payable by you (and your eligible dependents). After the one-year period, you will
be responsible for the payment of any COBRA premiums. The Company will not reimburse you for any taxable income imputed to you because the Company has paid your COBRA premiums (or those of your eligible dependents). 
 (f) Accrued Wages and Paid-Time Off; Expenses. The Company will pay you: (1) any unpaid base salary due for periods prior to the Termination
Date, (2) all of your accrued and unused paid-time off (“PTO”) through the Termination Date, and (3) following your submission of proper expense reports, the total unreimbursed amount of all expenses incurred by you in your
duties of employment with the Company that are reimbursable in accordance with the Company’s then-existing policies. These payments will be made promptly upon your employment termination and within the period of time mandated by law.

  

 2 

 3. Other Terminations of Employment. If your employment with the Company is terminated by the
Company for Cause, death or Disability, or if you voluntarily terminate your employment other than for Good Reason, you will not be entitled to receive any of the payments or benefits described in Section 2 of this Agreement. However, you may
be eligible for benefits under the Company’s severance and benefit plans and policies on the Termination Date. In addition, the Company will pay you: (1) any unpaid base salary due for periods prior to the Termination Date, (2) all of
your accrued and unused PTO through the Termination Date, and (3) following your submission of proper expense reports, the total unreimbursed amount of all expenses incurred by you in your duties of employment with the Company that are
reimbursable in accordance with the Company’s then-existing policies. These payments will be made promptly upon your employment termination and within the period of time mandated by law. 
 4. Definition of Terms. The following terms used to in this Agreement shall have the following meanings: 
 (a) Cause. “Cause” means (i) an act of personal dishonesty that you take in connection with your responsibilities as an employee and
intended to result in your substantial personal enrichment, (ii) your conviction of a felony that negatively reflects on your fitness to perform your duties or harms the Company’s reputation in business, (iii) your willful misconduct,
which is injurious to the Company (or any subsidiary thereof that employs you at such time), or (iv) your failure to perform the duties of your position (as they may exist from time to time) to the reasonable satisfaction of the Company’s
Board of Directors after receipt of a written warning and after you have had thirty (30) days to cure such failure to perform. 
 (b)
Disability. “Disability” means your being unable to perform the principal functions of your duties due to a physical or mental impairment, but only if such inability has lasted or is reasonably expected to last for at least six
months. The Company will determine whether a Disability exists based on evidence provided by one or more physicians approved by the Company. 
 (c) Voluntary Termination for Good Reason. “Voluntary Termination for Good Reason” means your voluntarily resignation after the occurrence of any of the following without your express written consent: (i) a material
reduction of your duties, title, authority or responsibilities, relative to your duties, title, authority or responsibilities as in effect immediately prior to such reduction, or the assignment to you of such reduced duties, title, authority or
responsibilities; (ii) a material reduction, without good business reasons, of the facilities and perquisites (including office space and location) available to you immediately prior to such reduction; (iii) a reduction by the Company in
your base salary as in effect immediately prior to such reduction; (iv) a material reduction by the Company in the aggregate level of employee benefits, including bonuses, to which you were entitled immediately prior to such reduction with the
result that your aggregate benefits package is materially reduced (other than a reduction that generally applies to Company employees); (v) your relocation to a facility or working location more than thirty-five (35) miles from your
facility or working location at such time; (vi) the failure of the Company to obtain the assumption of this agreement by any successors; (vii) the requirement by the Company or any successor to the Company that you devote more than fifty
percent of your time to the Company’s (or its successor’s) business; (viii) the breach by the Company of this Agreement, your Offer Letter or Management Retention Agreement; or (ix) any act or set of facts or circumstances which
would, under California case law or statute constitute your constructive termination. 
  

 3 

 (d) Release of Claims. “Release of Claims” means a waiver by you of all
employment-related obligations of the Company and all claims and causes of action against the Company. 
 5. At-Will Employment. The
Company and you acknowledge that your employment is and will continue to be at-will, as defined under applicable law. 
 6.
Non-Solicitation of Employees. In consideration for the severance benefits you are to receive herein, if any, you agree for a period of one year following your Termination Date, you will not either directly or indirectly solicit any
individuals to leave the Company’s (or any of its subsidiaries’) employ for any reason or interfere in any other manner with the employment relationships at the time existing between the Company (or any of its subsidiaries) and its
employees. 
 7. Assignment. This Agreement will be binding upon and become of advantage to (a) your heirs, executors and legal
representatives upon your 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 your rights 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 your right to compensation or
other benefits will be null and void. 
 8. Notices. 
 (a) General. All notices, requests, demands and other communications called for by this Agreement will be in writing and will be deemed given (1) on the date of delivery if delivered personally,
(2) one day after being sent by a well established commercial overnight service, or (3) four 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: 
 Palm, Inc. 
 950 W. Maude Avenue 

Sunnyvale, CA 94085 
 Attn: General
Counsel 
 If to you: 
 at your
last residential address known by the Company. 
  

 4 

 (b) Notice of Termination. Any termination by the Company for Cause or by you for Good Reason must
be communicated by a notice of termination to the other party. The notice will indicate the specific termination provision in this Agreement relied upon, will set forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination under the provision so indicated, and will specify the date of your employment termination (which will not be more than 30 days after the giving of such notice). Any failure on your part to include in the notice any fact or circumstance
which contributes to a showing of Good Reason will not waive any of your rights under this Agreement or prevent you from asserting that fact or circumstance in enforcing this Agreement. 
 9. 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. 
 10. Entire Agreement. This Agreement, your
Management Retention Agreement, your Offer Letter and the agreements evidencing any Company stock options and restricted stock units (also known as performance shares) granted to you represent the entire agreement and understanding between the
Company and you concerning your severance arrangements with the Company or any of its subsidiaries, and supersedes and replaces any and all prior agreements and understandings concerning your severance arrangements with the Company. 
 11. Arbitration. 
 (a) General.
In consideration of your service to the Company, its promise to arbitrate all employment related disputes and your receipt of the compensation, pay raises and other benefits paid to you by the Company, at present and in the future, you agree 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
your service to the Company under this Agreement or otherwise or the termination of your service with the Company, including any breach of this Agreement, shall be subject to binding arbitration under the Arbitration Rules set forth in California
Code of Civil Procedure Section 1280 through 1294.2, including Section 1283.05 (the “Rules”) and pursuant to California law. Disputes which you agree to arbitrate, and thereby agree 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. You further understand that this Agreement to arbitrate
also applies to any disputes that the Company may have with you. 
 (b) Procedure. You agree that any arbitration will be administered
by the American Arbitration Association (“AAA”) and that a neutral arbitrator will be selected in a manner consistent with its National Rules for the Resolution of Employment Disputes. The arbitration proceedings will allow for discovery
according to the rules set forth in the National Rules for the Resolution of 

  

 5 

 
Employment Disputes or California Code of Civil Procedure. You agree that the arbitrator shall have the power to decide any motions brought by any
party to the arbitration, including motions for summary judgment and/or adjudication and motions to dismiss and demurrers, prior to any arbitration hearing. You agree that the arbitrator shall issue a written decision on the merits. You also agree
that the arbitrator shall have the power to award any remedies, including attorneys’ fees and costs, available under applicable law. You understand the Company will pay for any administrative or hearing fees charged by the arbitrator or AAA
except that you shall pay the first $200.00 of any filing fees associated with any arbitration you initiate. You agree that the arbitrator shall administer and conduct any arbitration in a manner consistent with the Rules and that to the extent that
the AAA’s National Rules for the Resolution of Employment Disputes conflict with the Rules, the Rules shall take precedence. 
 (c)
Remedy. Except as provided by the Rules, arbitration shall be the sole, exclusive and final remedy for any dispute between you and the Company. Accordingly, except as provided for by the Rules, neither you 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 shall not order or require the Company
to adopt a policy not otherwise required by law which the Company has not adopted. 
 (d) Availability of Injunctive Relief. In
addition to the right under the Rules to petition the court for provisional relief, you agree that any party may also petition the court for injunctive relief where either party alleges or claims a violation of this Agreement or any other agreement
regarding trade secrets, confidential information, nonsolicitation or Labor Code §2870. In the event either party seeks injunctive relief, the prevailing party shall be entitled to recover reasonable costs and attorney’s fees. 

(e) Administrative Relief. You understand that this Agreement does not prohibit you 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 you from pursuing court action
regarding any such claim. 
 (f) Voluntary Nature of Agreement. You acknowledge and agree that you are executing this Agreement
voluntarily and without any duress or undue influence by the Company or anyone else. You further acknowledge and agree that you have carefully read this Agreement and that you have asked any questions needed for you to understand the terms,
consequences and binding effect of this Agreement and fully understand it, including that you are waiving your right to a jury trial. Finally, you agree that you have been provided an opportunity to seek the advice of an attorney of your choice
before signing this Agreement. 
 12. No Oral Modification, Cancellation or Discharge. This Agreement may be changed or terminated
only in writing (signed by you and an authorized officer of the Company). You and the Company agree to work in good faith to consider amendments to this Agreement which are necessary or appropriate to avoid imposition of any additional tax or
income recognition to Executive under Section 409A of the Internal Revenue Code and any proposed, temporary or final Treasury Regulations and Internal Revenue Service guidance thereunder. The parties agree to cooperate with each other
and to take reasonably necessary steps in this regard. 
  

 6 

 13. Withholding. The Company is authorized to withhold, or cause to be withheld, from any payment
or benefit under this Agreement the full amount of any applicable withholding taxes. 
 14. Governing Law. This Agreement will be
governed by the laws of the State of California (with the exception of its conflict of laws provisions). 
 15. Acknowledgment. You
acknowledge that you have had the opportunity to discuss this matter with and obtain advice from your private attorney, have had sufficient time to, and have carefully read and fully understand all the provisions of this Agreement, and are knowingly
and voluntarily entering into this Agreement. 
  

 7 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement on the respective dates set forth below:

  

							
	 JONATHAN RUBINSTEIN
	 		 	
			
	 /S/ JONATHAN RUBINSTEIN
	 		 	Date: June 2, 2007
	Jonathan Rubinstein	 		 	
			
	 Palm, Inc.
	 		 	
			
	 /S/ RENA A. LANE
	 		 	Date: June 1, 2007
	 Name:
	 	 Rena A. Lane
	 		 	
	 Title:
	 	 Senior Vice President, Human Resources

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00135-of-00352.parquet"}]]