Document:

2011 Incentive Compensation Plan

 Exhibit 10.9 
 GCT SEMICONDUCTOR, INC. 
 2011 INCENTIVE COMPENSATION PLAN

 ARTICLE ONE 
 GENERAL PROVISIONS 
  

	 	I.	 PURPOSE OF THE PLAN 

 This 2011 Incentive Compensation Plan is intended to promote the interests of GCT Semiconductor, Inc., a Delaware corporation, by providing eligible persons in the Corporation’s service with the
opportunity to participate in one or more cash or equity incentive compensation programs designed to encourage them to continue their service relationship with the Corporation. 

The Plan shall serve as the successor to the Predecessor Plans, and no further stock option grants or other stock-based
awards shall be made under the Predecessor Plans on or after the Plan Effective Date. All option grants outstanding under the Predecessor Plans on the Plan Effective Date shall be transferred to the Plan at that time and shall be treated as
outstanding options under the Plan. However, each outstanding option so transferred shall continue to be governed solely by the terms of the documents evidencing such option, and no provision of the Plan shall be deemed to affect or otherwise modify
the rights or obligations of the holders of such transferred options with respect to their acquisition of shares of Common Stock thereunder. 
 Capitalized terms shall have the meanings assigned to such terms in the attached Appendix. 
  

	 	II.	 STRUCTURE OF THE PLAN 

 A. The Plan shall be divided into a series of separate incentive compensation programs: 
  

	 	•	 	 the Option/SAR Grant Program under which eligible persons may, at the discretion of the Plan Administrator, be granted options to purchase shares of
Common Stock or stock appreciation rights tied to the value of such Common Stock, 

  

	 	•	 	 the Stock Issuance Program under which eligible persons may, at the discretion of the Plan Administrator, be issued shares of Common Stock pursuant
to restricted stock awards, restricted stock units, performance shares or other stock-based awards which vest upon the completion of a designated service period or the attainment of pre-established performance milestones, or such shares of Common
Stock may be issued through direct purchase or as a bonus for services rendered the Corporation (or any Parent or Subsidiary), and 

	 	•	 	 the Incentive Bonus Program under which eligible persons may, at the discretion of the Plan Administrator, be provided with incentive bonus
opportunities through performance unit awards and special cash incentive programs tied to the attainment of pre-established performance milestones. 

B. The provisions of Articles One and Five shall apply to all incentive compensation programs under the Plan and shall
govern the interests of all persons under the Plan. 
  

	 	III.	 ADMINISTRATION OF THE PLAN 

 A. The Compensation Committee (whether acting directly or through a subcommittee of two or more members thereof) shall have sole and exclusive authority to administer the Plan with respect to
Section 16 Insiders. Administration of the Plan with respect to all other persons eligible to participate in those programs may, at the Board’s discretion, be vested in the Compensation Committee or a Secondary Board Committee, or the
Board may retain the power to administer those programs with respect to such persons. All Awards to non-employee Board members shall be made by the Compensation Committee (or subcommittee thereof) which shall at the time of any such Award be
comprised solely of two or more independent Board members, as determined in accordance with the independence standards established by the Stock Exchange on which the Common Stock is at the time primarily traded. 

B. Members of the Compensation Committee or any Secondary Board Committee shall serve for such period of time as the
Board may determine and may be removed by the Board at any time. The Board may also at any time terminate the functions of any Secondary Board Committee and reassume all powers and authority previously delegated to such committee. 

C. Each Plan Administrator shall, within the scope of its administrative functions under the Plan, have full power and
authority (subject to the provisions of the Plan) to establish such rules and regulations as it may deem appropriate for proper administration of the Plan and to make such determinations under, and issue such interpretations of, the provisions of
those programs and any outstanding Awards thereunder as it may deem necessary or advisable. Decisions of the Plan Administrator within the scope of its administrative functions under the Plan shall be final and binding on all parties who have an
interest in the Plan under its jurisdiction or any Award thereunder. 
 D. Service as a Plan Administrator by
the members of the Compensation Committee or the Secondary Board Committee shall constitute service as Board members, and the members of each such committee shall accordingly be entitled to full indemnification and reimbursement as Board members for
their service on such committee. No member of the Compensation Committee or the Secondary Board Committee shall be liable for any act or omission made in good faith with respect to the Plan or any Award thereunder. 

  
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	 	IV.	 ELIGIBILITY 

 A. The persons eligible to participate in the Plan are as follows: 
 (i) Employees, 
 (ii) non-employee members of the
Board or the board of directors of any Parent or Subsidiary, and 
 (iii) consultants and other
independent advisors who provide services to the Corporation (or any Parent or Subsidiary). 
 B. The Plan
Administrator shall have full authority to determine, (i) with respect to Awards made under the Option/SAR Grant Program, which eligible persons are to receive such Awards, the time or times when those Awards are to be made, the number of
shares to be covered by each such Award, the time or times when the Award is to become exercisable, the vesting schedule (if any) applicable to the Award, the maximum term for which such Award is to remain outstanding and the status of a granted
option as either an Incentive Option or a Non-Statutory Option; (ii) with respect to Awards under the Stock Issuance Program, which eligible persons are to receive such Awards, the time or times when the Awards are to be made, the number of
shares subject to each such Award, the vesting and issuance schedules applicable to the shares which are the subject of such Award, the cash consideration (if any) payable for those shares and the form (cash or shares of Common Stock) in which the
Award is to be settled; and (iii) with respect to Awards under the Incentive Bonus Program, which eligible persons are to receive such Awards, the time or times when the Awards are to be made, the performance objectives for each such Award, the
amounts payable at designated levels of attained performance, any applicable service vesting requirements, the payout schedule for each such Award and the form (cash or shares of Common Stock) in which the Award is to be settled. 

 

	 	V.	 STOCK SUBJECT TO THE PLAN 

 A. The stock issuable under the Plan shall be shares of authorized but unissued or reacquired Common Stock. The number of shares of Common Stock initially reserved for issuance over the term of the Plan
shall be limited to 56,500,000 shares, subject to adjustment from time to time pursuant to the provisions of Section V.G of this Article One. Such share reserve shall consist of (i) the number of shares of Common Stock estimated to be available
for issuance, as of the Plan Effective Date, under the Predecessor Plans as last approved by the Corporation’s stockholders, including the shares of Common Stock subject to outstanding options under the Predecessor Plans that are transferred to
the Plan in accordance with the provisions of Section IV.B of Article Five, plus (ii) an additional increase of approximately 2,390,000 shares to be approved by the Corporation’s stockholders prior to the date the underwriting agreement
for the initial public offering of the Common Stock is executed. 
 B. The number of shares of Common Stock
available for issuance under the Plan shall automatically increase on the first trading day in July each calendar year during the term of the Plan, beginning with the 2012 calendar year, by an amount equal to five percent (5%) of the total
number of shares of Common Stock actually outstanding on the last trading day 

  
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in the immediately preceding calendar month, but in no event shall any such annual increase exceed 12,500,000 shares. 

C. The maximum number of shares of Common Stock which may be issued under the Plan pursuant to Incentive Options shall
not exceed 56,500,000 shares in the aggregate, subject to adjustment from time to time under Section V.G of this Article One. Such share limitation shall automatically be increased on the first trading day in July each calendar year, beginning with
the 2012 calendar year, by the number of shares of Common Stock added to the share reserve on that day pursuant to the provisions of Section V.B of this Article One. 

D. The maximum number of shares of Common Stock for which Awards denominated in shares of Common Stock (whether payable
in Common Stock, cash or a combination of both) may be made to any individual Participant in any fiscal year of the Corporation shall not exceed in the aggregate 5,000,000 shares of Common Stock. 

E. Shares of Common Stock subject to outstanding Awards under the Plan (including options transferred to the Plan from
the Predecessor Plans pursuant to Section IV.B of Article Five) shall be available for subsequent award and issuance under the Plan to the extent those Awards expire, are forfeited or cancelled or terminate for any reason prior to the issuance of
the shares of Common Stock subject to those Awards. Unvested shares issued under the Plan and subsequently forfeited or repurchased by the Corporation, at a price per share not greater than the original issue price paid per share, pursuant to the
Corporation’s repurchase rights under the Plan shall be added back to the number of shares of Common Stock reserved for issuance under the Plan and shall accordingly be available for subsequent reissuance. 

F. Should the exercise price of an option under the Plan be paid with shares of Common Stock (whether through the
withholding of a portion of the otherwise issuable shares or through the tender of actual outstanding shares), then the authorized reserve of Common Stock under the Plan shall be reduced by the gross number of shares for which that option is
exercised, and not by the net number of shares issued under the exercised stock option. Upon the exercise of any stock appreciation right under the Plan, the share reserve shall be reduced by the gross number of shares as to which such right is
exercised, and not by the net number of shares actually issued by the Corporation upon such exercise. If shares of Common Stock otherwise issuable under the Plan are withheld by the Corporation in satisfaction of the withholding taxes incurred in
connection with the issuance, vesting or settlement of an Award, then the number of shares of Common Stock available for issuance under the Plan shall be reduced on the basis of the gross number of shares issued, vested or settled under such Award,
calculated in each instance prior to any such share withholding. 
 G. Should any change be made to the Common
Stock by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares, spin-off transaction or other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of
consideration, or should the value of outstanding shares of Common Stock be substantially reduced as a result of a spin-off transaction or an extraordinary dividend or distribution, or should there occur any merger, consolidation or other
reorganization (including, without limitation, a Change in Control transaction), then equitable adjustments shall be made by the Plan Administrator to (i) the maximum number and/or class of securities issuable

  
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under the Plan, (ii) the maximum number and class of securities by which the share reserve is to increase automatically each calendar year pursuant to the provisions of Section V.B of this
Article One, (iii) the maximum number and/or class of securities that may be issued under the Plan pursuant to Incentive Options and the maximum number and/or class of securities by which that limitation will automatically increase each
calendar year, (iv) the maximum number and/or class of securities for which any one person may be granted Awards denominated in shares of Common Stock per fiscal year, (v) the number and/or class of securities and the exercise or base
price per share in effect under each outstanding Award under the Discretionary Grant Program, including outstanding options transferred to the Plan from the Predecessor Plans, (vi) the number and/or class of securities subject to each
outstanding Award under the Stock Issuance Program and the cash consideration (if any) payable per share, (vii) the number and/or class of securities subject to each outstanding Award under the Incentive Bonus Program denominated in shares of
Common Stock and (viii) the number and/or class of securities subject to the Corporation’s outstanding repurchase rights under the Plan and the repurchase price payable per share. The adjustments shall be made in such manner as the Plan
Administrator deems appropriate and such adjustments shall be final, binding and conclusive. 
 H. Outstanding
Awards granted pursuant to the Plan shall in no way affect the right of the Corporation to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or
any part of its business or assets. 

  
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 ARTICLE TWO 
 OPTION/SAR GRANT PROGRAM 
  

	 	I.	 OPTION TERMS 

 Each option shall be evidenced by one or more documents in the form approved by the Plan Administrator; provided, however, that each such document shall comply with the terms specified below. Each
document evidencing an Incentive Option shall, in addition, be subject to the provisions of the Plan applicable to such options. 
  

	 	A.	 Exercise Price. 

 1. The exercise price per share shall be fixed by the Plan Administrator at the time of the Award; provided, however, that such exercise price shall not be less than one hundred percent
(100%) of the Fair Market Value per share of Common Stock on the grant date. 
 2. The exercise price
shall become immediately due upon exercise of the option and shall, subject to the provisions of the documents evidencing the option, be payable in one or more of the forms specified below: 

(i) cash or check made payable to the Corporation, 

(ii) shares of Common Stock (whether delivered in the form of actual stock certificates or through
attestation of ownership) held for the requisite period (if any) necessary to avoid any resulting charge to the Corporation’s earnings for financial reporting purposes and valued at Fair Market Value on the Exercise Date, 

(iii) shares of Common Stock otherwise issuable under the option but withheld by the Corporation in
satisfaction of the exercise price, with such withheld shares to be valued at Fair Market Value on the exercise date, and 
 (iv) to the extent the option is exercised for vested shares following the initial public offering of the Common Stock, through a special sale and remittance procedure pursuant to which the Optionee shall
concurrently provide instructions to (a) a brokerage firm (reasonably satisfactory to the Corporation for purposes of administering such procedure in compliance with the Corporation’s pre-clearance/pre-notification policies) to effect the
immediate sale of the purchased shares and remit to the Corporation, out of the sale proceeds available on the settlement date, sufficient funds to cover the aggregate exercise price payable for the purchased shares plus all applicable income and
employment taxes required to be withheld by the Corporation by reason of such exercise and (b) the Corporation to deliver the certificates for the 

  
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purchased shares directly to such brokerage firm on such settlement date in order to complete the sale. 
 Except to the extent such sale and remittance procedure is utilized, payment of the exercise price for the purchased shares must be made on the Exercise Date. 

 

	 	B.	 Exercise and Term of Options.  

1. Each option shall be exercisable at such time or times, during such period and for such number of shares as shall be
determined by the Plan Administrator and set forth in the documents evidencing the option. However, no option shall have a term in excess of ten (10) years measured from the option grant date. 

2. The Plan Administrator shall also have the discretionary authority to structure one or more Awards under the
Option/SAR Grant Program so that those Awards shall vest and become exercisable only after the achievement of pre-established corporate performance objectives based on one or more Performance Goals and measured over the performance period specified
by the Plan Administrator at the time of the Award. 
  

	 	C.	 Effect of Termination of Service. 

1. The following provisions shall govern the exercise of any options granted pursuant to the Option/SAR Grant Program
that are outstanding at the time of the Optionee’s cessation of Service or death: 
 (i)
Any option outstanding at the time of the Optionee’s cessation of Service for any reason shall remain exercisable for such period of time thereafter as shall be determined by the Plan Administrator and set forth in the documents evidencing the
option, but no such option shall be exercisable after the expiration of the option term. 
 (ii)
Any option held by the Optionee at the time of the Optionee’s death and exercisable in whole or in part at that time may be subsequently exercised by the personal representative of the Optionee’s estate or by the person or persons to whom
the option is transferred pursuant to the Optionee’s will or the laws of inheritance or by the Optionee’s designated beneficiary or beneficiaries of that option. 

(iii) Should the Optionee’s Service be terminated for Cause or should the Optionee otherwise engage
in conduct constituting grounds for a termination for Cause while holding one or more outstanding options granted under the Option/SAR Grant Program, then all of those options shall terminate immediately and cease to be outstanding. 

(iv) During the applicable post-Service exercise period, the option may not be exercised in the aggregate
for more than the number of vested shares for which the option is at the time exercisable; provided, however, that one or more options under the Option/SAR Grant Program may be structured

  
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so that those options will continue to vest in whole or part during the applicable post-Service exercise period. Upon the expiration of the applicable exercise period or (if earlier) upon the
expiration of the option term, the option shall terminate and cease to be outstanding for any shares for which the option has not been exercised. 
 2. The Plan Administrator shall have complete discretion, exercisable either at the time an option is granted or at any time while the option remains outstanding, to: 

(i) extend the period of time for which the option is to remain exercisable following the Optionee’s
cessation of Service from the limited exercise period otherwise in effect for that option to such greater period of time as the Plan Administrator shall deem appropriate, but in no event beyond the expiration of the option term, 

(ii) include an automatic extension provision whereby the specified post-Service exercise period in
effect for any option granted under the Option/SAR Grant Program shall automatically be extended by an additional period of time equal in duration to any interval within the specified post-Service exercise period during which the exercise of that
option or the immediate sale of the shares acquired under such option could not be effected in compliance with the applicable registration requirements of federal and state securities laws, but in no event shall such an extension result in the
continuation of such option beyond the expiration date of the term of that option, and/or 

(iii) permit the option to be exercised, during the applicable post-Service exercise period, not only
with respect to the number of vested shares of Common Stock for which such option is exercisable at the time of the Optionee’s cessation of Service but also with respect to one or more additional installments in which the Optionee would have
vested had the Optionee continued in Service. 
 D. Stockholder Rights. The holder of an option
shall have no stockholder rights with respect to the shares subject to the option until such person shall have exercised the option, paid the exercise price and become a holder of record of the purchased shares. 

E. Repurchase Rights. The Plan Administrator shall have the discretion to grant options which are
exercisable for unvested shares of Common Stock. Should the Optionee cease Service while such shares are unvested, the Corporation shall have the right to repurchase any or all of those unvested shares at a price per share equal to the
lower of (i) the exercise price paid per share or (ii) the Fair Market Value per share of Common Stock at the time of repurchase. The terms upon which such repurchase right shall be exercisable (including the period and
procedure for exercise and the appropriate vesting schedule for the purchased shares) shall be established by the Plan Administrator and set forth in the document evidencing such repurchase right. 

  
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 F. Transferability of Options. The transferability of options
granted under the Plan shall be governed by the following provisions: 
 (i) Incentive Options:
During the lifetime of the Optionee, Incentive Options shall be exercisable only by the Optionee and shall not be assignable or transferable other than by will or the laws of inheritance following the Optionee’s death. 

(ii) Non-Statutory Options. Non-Statutory Options shall be subject to the same limitation on transfer as
Incentive Options, except that the Plan Administrator may structure one or more Non-Statutory Options so that the option may be transferred gratuitously in whole or in part during the Optionee’s lifetime to one or more Family Members of the
Optionee or to a trust established exclusively for the Optionee and/or such Family Members or may be transferred to one or more Family Member pursuant to a domestic relations order. The transferred portion may only be exercised by the person or
persons who acquire a proprietary interest in the option pursuant to the transfer. The terms applicable to the transferred portion shall be the same as those in effect for the option immediately prior to such transfer. 

(iii) Beneficiary Designations. Notwithstanding the foregoing, the Optionee may designate one or more
persons as the beneficiary or beneficiaries of his or her outstanding options under the Discretionary Grant Program (whether Incentive Options or Non-Statutory Options), and those options shall, in accordance with such designation, automatically be
transferred to such beneficiary or beneficiaries upon the Optionee’s death while holding those options. Such beneficiary or beneficiaries shall take the transferred options subject to all the terms and conditions of the applicable agreement
evidencing each such transferred option, including (without limitation) the limited time period during which the option may be exercised following the Optionee’s death. 

 

	 	II.	 INCENTIVE OPTIONS 

 The terms specified below shall be applicable to all Incentive Options. Except as modified by the provisions of this Section II, all the provisions of Articles One, Two and Five shall be applicable to
Incentive Options. Options which are specifically designated as Non-Statutory Options when issued under the Plan shall not be subject to the terms of this Section II. 

A. Eligibility. Incentive Options may only be granted to Employees. 

B. Dollar Limitation. The aggregate Fair Market Value of the shares of Common Stock (determined as of the
respective date or dates of grant) for which one or more options granted to any Employee under the Plan (or any other option plan of the Corporation or any Parent or Subsidiary) may for the first time become exercisable as Incentive Options during
any one calendar year shall not exceed the sum of One Hundred Thousand Dollars ($100,000). 
 To the extent the
Employee holds two (2) or more such options which become exercisable for the first time in the same calendar year, then for purposes of the foregoing limitations on the exercisability of those options as Incentive Options, such options shall be
deemed to become first exercisable in that calendar year on the basis of the chronological order in which they were granted, except to the extent otherwise provided under applicable law or regulation. 

  
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 C. 10% Stockholder. If any Employee to whom an Incentive
Option is granted is a 10% Stockholder, then the exercise price per share shall not be less than one hundred ten percent (110%) of the Fair Market Value per share of Common Stock on the grant date, and the option term shall not exceed five
(5) years measured from the grant date. 
  

	 	III.	 STOCK APPRECIATION RIGHTS 

 A. Authority. The Plan Administrator shall have full power and authority, exercisable in its sole discretion, to grant stock appreciation rights in accordance with this Section III to
selected Optionees or other individuals eligible to receive Awards under the Option/SAR Grant Program. 
 B.
Types. Two types of stock appreciation rights shall be authorized for issuance under this Section III: (i) tandem stock appreciation rights (“Tandem Rights”) and (ii) stand-alone stock appreciation rights
(“Stand-alone Rights”). 
 C. Tandem Rights. The following terms and conditions shall
govern the grant and exercise of Tandem Rights. 
 1. One or more Optionees may be granted a Tandem Right,
exercisable upon such terms and conditions as the Plan Administrator may establish, to elect between the exercise of the underlying option for shares of Common Stock or the surrender of that option in exchange for a distribution from the Corporation
in an amount equal to the excess of (i) the Fair Market Value (on the option surrender date) of the number of shares in which the Optionee is at the time vested under the surrendered option (or surrendered portion thereof) over (ii) the
aggregate exercise price payable for such vested shares. 
 2. Any distribution to which the Optionee becomes
entitled upon the exercise of a Tandem Right may be made in (i) shares of Common Stock valued at Fair Market Value on the option surrender date, (ii) cash or (iii) a combination of cash and shares of Common Stock, as specified in the
applicable Award agreement. 
 D. Stand-Alone Rights. The following terms and conditions shall
govern the grant and exercise of Stand-alone Rights: 
 1. One or more individuals eligible to participate in
the Option/SAR Grant Program may be granted a Stand-alone Right not tied to any underlying option. The Stand-alone Right shall relate to a specified number of shares of Common Stock and shall be exercisable upon such terms and conditions as the Plan
Administrator may establish. In no event, however, may the Stand-alone Right have a maximum term in excess of ten (10) years measured from the grant date. 

2. Upon exercise of the Stand-alone Right, the holder shall be entitled to receive a distribution from the Corporation
in an amount equal to the excess of (i) the aggregate Fair Market Value (on the exercise date) of the shares of Common Stock underlying the exercised right over (ii) the aggregate base price in effect for those shares. 

  
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 3. The number of shares of Common Stock underlying each Stand-alone Right
and the base price in effect for those shares shall be determined by the Plan Administrator in its sole discretion at the time the Stand-alone Right is granted. In no event, however, may the base price per share be less than the Fair Market Value
per underlying share of Common Stock on the grant date. 
 4. Stand-alone Rights shall be subject to the same
transferability restrictions applicable to Non-Statutory Options and may not be transferred during the holder’s lifetime, except for a gratuitous transfer to one or more Family Members of the holder or to a trust established for the holder
and/or one or more such Family Members or a transfer to one or more such Family Members pursuant to a domestic relations order covering the Stand-alone Right as marital property. In addition, one or more beneficiaries may be designated for an
outstanding Stand-alone Right in accordance with substantially the same terms and provisions as set forth in Section I.F of this Article Two. 
 5. The distribution with respect to an exercised Stand-alone Right may be made in (i) shares of Common Stock valued at Fair Market Value on the exercise date, (ii) cash or (iii) a
combination of cash and shares of Common Stock, as specified in the applicable Award agreement. 
 6. The
holder of a Stand-alone Right shall have no stockholder rights with respect to the shares subject to the Stand-alone Right unless and until such person shall have exercised the Stand-alone Right and become a holder of record of the shares of Common
Stock issued upon the exercise of such Stand-alone Right. 
 E. Post-Service Exercise. The
provisions governing the exercise of Tandem and Stand-alone Rights following the cessation of the recipient’s Service shall be substantially the same as those set forth in Section I.C.1 of this Article Two for the options granted under the
Option/SAR Grant Program, and the Plan Administrator’s discretionary authority under Section I.C.2 of this Article Two shall also extend to any outstanding Tandem or Stand-alone Appreciation Rights. 

 

	 	IV.	 CHANGE IN CONTROL 

 A. In the event of an actual Change in Control transaction, each outstanding Award under the Option/SAR Grant Program may be (i) assumed by the successor corporation (or parent thereof) or otherwise
continued in full force and effect pursuant to the terms of the Change in Control transaction or (ii) replaced with a cash incentive program of the successor corporation which preserves the spread existing at the time of the Change in Control
on any shares as to which the Award is not otherwise at that time exercisable and provides for the subsequent vesting and concurrent payment of that spread in accordance with the same exercise/vesting schedule in effect for that Award, but only if
such replacement cash program would not result in the treatment of the Award as an item of deferred compensation subject to Code Section 409A. However, to the extent the Award is not to be so assumed, continued or replaced, that Award shall
immediately prior to the effective date of the Change in Control transaction, become exercisable as to all the shares of Common Stock at the time subject to that Award and may be exercised as to any or all of those shares as fully vested shares of
Common 

  
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Stock, unless the acceleration of such Award is subject to other limitations imposed by the Plan Administrator. Notwithstanding the foregoing, any Award outstanding under the Discretionary Grant
Program on the date of such Change in Control shall be subject to cancellation and termination, without cash payment or other consideration due the Award holder, if the Fair Market Value per share of Common Stock on such date of the Change in
Control (or any earlier date specified in the definitive agreement for the Change in Control transaction) is less than the per share exercise or base price in effect for such Award. 

B. All repurchase rights outstanding under the Option/SAR Grant Program shall automatically terminate, and the shares of
Common Stock subject to those terminated rights shall vest in full, immediately prior to the effective date of an actual Change in Control transaction, except to the extent: (i) those repurchase rights are to be assigned to the successor
corporation (or parent thereof) or are otherwise to continue in full force and effect pursuant to the terms of the Change in Control transaction or (ii) such accelerated vesting is precluded by other limitations imposed by the Plan
Administrator. 
 C. Immediately following the consummation of the Change in Control, all outstanding Awards
under the Option/SAR Grant Program shall terminate and cease to be outstanding, except to the extent assumed by the successor corporation (or parent thereof) or otherwise continued in full force and effect pursuant to the terms of the Change in
Control transaction. 
 D. Each Award under the Option/SAR Grant Program that is assumed in connection with a
Change in Control or otherwise continued in effect shall be appropriately adjusted, immediately after such Change in Control, to apply to the number and class of securities into which the shares of Common Stock subject to that Award would have been
converted in consummation of such Change in Control had those shares actually been outstanding at that time. Appropriate adjustments to reflect such Change in Control shall also be made to the exercise or base price per share in effect under each
outstanding Award, provided the aggregate exercise or base price in effect for such securities shall remain the same. To the extent the actual holders of the Corporation’s outstanding Common Stock receive cash consideration for their
Common Stock in consummation of the Change in Control, the successor corporation may, in connection with the assumption or continuation of the outstanding Awards under the Option/SAR Grant Program and with the consent of the Plan Administrator
obtained prior to the Change in Control, substitute, for the securities underlying those assumed rights, one or more shares of its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in such
Change in Control transaction, provided such common stock is readily traded on an established U.S. securities exchange or market. 
 E. The Plan Administrator shall have the discretionary authority to structure one or more outstanding Awards under the Option/SAR Grant Program so that those Awards shall, immediately prior to the
effective date of an actual Change in Control transaction, become exercisable as to all the shares of Common Stock at the time subject to those Awards and may be exercised as to any or all of those shares as fully vested shares of Common Stock,
whether or not those Awards are to be assumed in the Change in Control transaction or otherwise continued in effect. In addition, the Plan Administrator shall have the discretionary authority to structure one or more of the Corporation’s
repurchase rights under the Option/SAR Grant Program so that 

  
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those rights shall terminate immediately prior to the effective date of an actual Change in Control transaction, and the shares subject to those terminated rights shall thereupon vest in full.

 F. The Plan Administrator shall have full power and authority to structure one or more outstanding Awards
under the Option/SAR Grant Program so that those Awards shall become exercisable as to all the shares of Common Stock at the time subject to those Awards in the event the Optionee’s Service is subsequently terminated by reason of an Involuntary
Termination within a designated period (not to exceed twenty-four (24) months) following the effective date of any Change in Control transaction in which those Awards do not otherwise fully accelerate. In addition, the Plan Administrator may
structure one or more of the Corporation’s repurchase rights so that those rights shall immediately terminate with respect to any shares held by the Optionee at the time of such Involuntary Termination, and the shares subject to those
terminated repurchase rights shall accordingly vest in full at that time. 
 G. The portion of any Incentive
Option accelerated in connection with a Change in Control shall remain exercisable as an Incentive Option only to the extent the applicable One Hundred Thousand Dollar ($100,000) limitation is not exceeded. To the extent such dollar limitation is
exceeded, the accelerated portion of such option shall be exercisable as a Non-statutory Option under the Federal tax laws. 
  

	 	V.	 REPRICING PROGRAMS 

 The Plan Administrator shall have the discretionary authority, exercisable on such terms and conditions that it deems appropriate under the circumstances, to (i) implement cancellation/regrant
programs pursuant to which outstanding options or stock appreciation rights under the Plan are cancelled and new options or stock appreciation rights are granted in replacement with a lower exercise or base price per share, (ii) cancel
outstanding options or stock appreciation rights under the Plan with exercise or base prices per share in excess of the then current Fair Market Value per share of Common Stock for consideration payable in cash or in equity securities of the
Corporation or (iii) reduce the exercise or base price in effect for outstanding options or stock appreciation rights under the Plan. 

  
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 ARTICLE THREE 
 STOCK ISSUANCE PROGRAM 
  

	 	I.	 STOCK ISSUANCE TERMS 

 Shares of Common Stock may be issued in accordance with the terms of the Stock Issuance Program. Each such stock issuance shall be evidenced by a Stock Issuance Agreement which complies with the terms
specified below. 
  

	 	A.	 Issue Price. 

 1. Shares of Common Stock may be issued under the Stock Issuance Program for any of the following items of consideration which the Plan Administrator may deem appropriate in each individual instance:

 (i) cash or check made payable to the Corporation, 

(ii) past services rendered to the Corporation (or any Parent or Subsidiary); or 

(iii) any other valid consideration under the State in which the Corporation is at the time incorporated.

 However, if the consideration for the shares is to be paid in the form of a cash purchase price, then the
cash consideration payable per share shall not be less than one hundred percent (100%) of the Fair Market Value per share of Common Stock on the issuance date. 
  

	 	B.	 Vesting Provisions. 

 1. Shares of Common Stock issued under the Stock Issuance Program may, in the discretion of the Plan Administrator, be fully and immediately vested upon issuance as a bonus for Service rendered or may
vest in one or more installments over the Participant’s period of Service or upon the attainment of specified performance objectives tied to one or more Performance Goals. The elements of the vesting schedule applicable to any unvested shares
of Common Stock issued under the Stock Issuance Program shall be determined by the Plan Administrator and incorporated into the Stock Issuance Agreement. Shares of Common Stock may also be issued under the Stock Issuance Program pursuant to
performance shares, restricted stock units or other stock-based Awards which entitle the recipients to receive the shares underlying those Awards upon the attainment of designated performance objectives tied to one or more Performance Goals or the
satisfaction of specified Service requirements or upon the expiration of a designated time period following the vesting of those Awards, including (without limitation) a deferred distribution date following the termination of the Participant’s
Service. 

  
 14 

 2. Any new, substituted or additional securities or other property
(including money paid other than as a regular cash dividend) which the Participant may have the right to receive with respect to the Participant’s unvested shares of Common Stock by reason of any stock dividend, stock split, recapitalization,
combination of shares, exchange of shares, spin-off transaction, extraordinary dividend or distribution or other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of consideration shall be issued subject
to (i) the same vesting requirements applicable to the Participant’s unvested shares of Common Stock and (ii) such escrow arrangements as the Plan Administrator shall deem appropriate. Equitable adjustments to reflect each such
transaction shall also be made by the Plan Administrator to the repurchase price payable per share by the Corporation for any unvested securities subject to its existing repurchase rights under the Plan; provided the aggregate repurchase price shall
in each instance remain the same. 
 3. The Participant shall have full stockholder rights with respect to any
shares of Common Stock issued to the Participant under the Stock Issuance Program, whether or not the Participant’s interest in those shares is vested. Accordingly, the Participant shall have the right to vote such shares and to receive any
dividends paid on such shares, subject to any applicable vesting requirements. The Participant shall not have any stockholder rights with respect to the shares of Common Stock subject to a performance share or restricted stock unit Award until that
Award vests and the shares of Common Stock are actually issued thereunder. However, dividend-equivalent units may be paid or credited, either in cash or in actual or phantom shares of Common Stock, on outstanding Awards of performance shares,
restricted stock units or other stock-based Awards under the Stock Issuance Program, subject to such terms and conditions as the Plan Administrator may deem appropriate. 

4. Should the Participant cease to remain in Service while holding one or more unvested shares of Common Stock issued
under the Stock Issuance Program or should the performance objectives not be attained with respect to one or more such unvested shares of Common Stock, then those shares shall be immediately surrendered to the Corporation for cancellation, and the
Participant shall have no further stockholder rights with respect to those shares. To the extent the surrendered shares were previously issued to the Participant for consideration paid in cash or cash equivalent, the Corporation shall repay to the
Participant the lower of (i) the cash consideration paid for the surrendered shares or (ii) the Fair Market Value of those shares at the time of cancellation. 

5. The Plan Administrator may in its discretion waive the surrender and cancellation of one or more unvested shares of
Common Stock which would otherwise occur upon the cessation of the Participant’s Service or the non-attainment of the performance objectives applicable to those shares. Any such waiver shall result in the immediate vesting of the
Participant’s interest in the shares of Common Stock as to which the waiver applies. 
 6. Outstanding
Awards of performance shares, restricted stock units or other stock-based Awards under the Stock Issuance Program shall automatically terminate, and no shares of Common Stock shall actually be issued in satisfaction of those Awards, if the
performance objectives or Service requirements established for those Awards are not attained or satisfied. The Plan Administrator, however, shall have the discretionary authority to waive such vesting requirements and issue vested shares of Common
Stock under one or more outstanding 

  
 15 

 
Awards of performance shares, restricted stock units or other stock-based Awards as to which the designated performance objectives or Service requirements have not been attained or satisfied.

 7. The following additional requirements shall be in effect for any performance shares awarded under this
Article Three: 
 (i) At the end of the performance period, the Plan Administrator shall
determine the actual level of attainment for each performance objective and the extent to which the performance shares awarded for that period are to vest and become payable based on the attained performance levels. 

(ii) The performance shares which so vest shall be paid as soon as practicable following the end of the
performance period, unless such payment is to be deferred for the period specified by the Plan Administrator at the time the performance shares are awarded or the period selected by the Participant in accordance with the applicable requirements of
Code Section 409A. 
 (iii) Performance shares may be paid in (i) cash,
(ii) shares of Common Stock or (iii) any combination of cash and shares of Common Stock, as set forth in the applicable Award Agreement. 

(iv) Performance shares may also be structured so that the shares are convertible into shares of Common
Stock, but the rate at which each performance share is to so convert shall be based on the attained level of performance for each applicable performance objective. 
  

	 	II.	 CHANGE IN CONTROL 

 A. Each Award outstanding under the Stock Issuance Program on the effective date of an actual Change in Control transaction may be (i) assumed by the successor corporation (or parent thereof) or
otherwise continued in full force and effect pursuant to the terms of the Change in Control transaction or (ii) replaced with a cash incentive program of the successor corporation which preserves the Fair Market Value of the underlying shares
of Common Stock at the time of the Change in Control and provides for the subsequent vesting and payment of that value in accordance with the same vesting schedule in effect for those shares at the time of such Change in Control. If any such Award
is subject to a performance-vesting condition tied to the attainment of one or more specified performance objectives, then the Plan Administrator shall have the authority, in connection with the assumption, continuation or replacement of such Award
that is to occur upon the Change in Control, to cancel the performance-vesting condition and convert the Award into a Service-vesting Award that will vest solely in accordance with the pre-existing Service-vesting component of that Award. However,
to the extent any Award outstanding under the Stock Issuance Program on the effective date of such Change in Control Transaction is not to be so assumed, continued or replaced, that Award shall vest in full immediately prior to the effective date of
the actual 

  
 16 

 
Change in Control transaction and the shares of Common Stock underlying the portion of the Award that vests on such accelerated basis shall be issued in accordance with the applicable Award
Agreement, unless such accelerated vesting is precluded by other limitations imposed in the Stock Issuance Agreement. 
 B. Each outstanding Award under the Stock Issuance Program which is assumed in connection with a Change in Control or otherwise continued in effect shall be adjusted immediately after the consummation of
that Change in Control so as to apply to the number and class of securities into which the shares of Common Stock subject to that Award immediately prior to the Change in Control would have been converted in consummation of such Change in Control
had those shares actually been outstanding at that time, and appropriate adjustments shall also be made to the cash consideration (if any) payable per share thereunder, provided the aggregate amount of such cash consideration shall remain the same.
To the extent the actual holders of the Corporation’s outstanding Common Stock receive cash consideration for their Common Stock in consummation of the Change in Control, the successor corporation may, in connection with the assumption or
continuation of the outstanding Awards and with the consent of the Plan Administrator obtained prior to the Change in Control, substitute one or more shares of its own common stock with a fair market value equivalent to the cash consideration paid
per share of Common Stock in such Change in Control transaction, provided such common stock is readily traded on an established U.S. securities exchange or market. 

C. The Plan Administrator shall have the discretionary authority to structure one or more unvested Awards under the Stock
Issuance Program so that the shares of Common Stock subject to those Awards shall automatically vest (or vest and become issuable) in whole or in part immediately prior to the effective date of an actual Change in Control transaction or upon the
subsequent termination of the Participant’s Service by reason of an Involuntary Termination within a designated period (not to exceed twenty-four (24) months) following the effective date of that Change in Control transaction. 

  
 17 

 ARTICLE FOUR 
 INCENTIVE BONUS PROGRAM 
  

	 	I.	 INCENTIVE BONUS TERMS 

 The Plan Administrator shall have full power and authority to implement one or more of the following incentive bonus programs under the Plan: 

 

	 	(i)	 cash bonus awards (“Cash Awards”), and 

  

	 	(ii)	 performance unit awards (“Performance Unit Awards”). 

A. Cash Awards. The Plan Administrator shall have the discretionary authority under the Plan to make Cash
Awards which are to vest in one or more installments over the Participant’s continued Service with the Corporation or upon the attainment of specified performance objectives tied to one or more Performance Goals. Each such Cash Award shall be
evidenced by one or more documents in the form approved by the Plan Administrator; provided however, that each such document shall comply with the terms specified below. 

1. The elements of the vesting schedule applicable to each Cash Award shall be determined by the Plan Administrator and
incorporated into the Incentive Bonus Award Agreement. 
 2. Outstanding Cash Awards shall automatically
terminate, and no cash payment or other consideration shall be due the holders of those Awards, if the performance objectives or Service requirements established for those Awards are not attained or satisfied. The Plan Administrator may in its
discretion waive the cancellation and termination of one or more unvested Cash Awards which would otherwise occur upon the cessation of the Participant’s Service or the non-attainment of the performance objectives applicable to those Awards.
Any such waiver shall result in the immediate vesting of the Participant’s interest in the Cash Award as to which the waiver applies. 
 3. Cash Awards which become due and payable following the attainment of the applicable performance objectives or satisfaction of the applicable Service requirement (or the waiver of such goals or Service
requirement) may be paid in (i) cash, (ii) shares of Common Stock valued at Fair Market Value on the payment date or (iii) a combination of cash and shares of Common Stock, as set forth in the applicable Award Agreement. 

B. Performance Unit Awards. The Plan Administrator shall have the discretionary authority to make
Performance Unit Awards in accordance with the terms of the Incentive Bonus Program. Each such Performance Unit Award shall be evidenced by one or more documents in the form approved by the Plan Administrator; provided however, that
each such document shall comply with the terms specified below. 

  
 18 

 1. A Performance Unit shall represent either (i) a unit with a dollar
value tied to the level at which pre-established performance objectives tied to one or more Performance Goals are attained or (ii) a participating interest in a special bonus pool tied to the attainment of such pre-established performance
objectives. The amount of the bonus pool may vary with the level at which the applicable performance objectives are attained, and the value of each Performance Unit which becomes due and payable upon the attained level of performance shall be
determined by dividing the amount of the resulting bonus pool (if any) by the total number of Performance Units issued and outstanding at the completion of the applicable performance period. 

2. Performance Units may also be structured to include a Service requirement which the Participant must satisfy
following the completion of the performance period in order to vest in the Performance Units awarded with respect to that performance period. 
 3. Performance Units which become due and payable following the attainment of the applicable performance objectives and the satisfaction of any applicable Service requirement may be settled in
(i) cash, (ii) shares of Common Stock valued at Fair Market Value on the payment date or (iii) a combination of cash and shares of Common Stock, as set forth in the applicable Award Agreement. 

 

	 	II.	 CHANGE IN CONTROL 

 The Plan Administrator shall have the discretionary authority to structure one or more Awards under the Incentive Bonus Program so that those Awards shall automatically vest in whole or in part
immediately prior to the effective date of an actual Change in Control transaction or upon the subsequent termination of the Participant’s Service by reason of an Involuntary Termination within a designated period (not to exceed twenty-four
(24) months) following the effective date of such Change in Control. To the extent any such Award is, at the time of such Change in Control, subject to a performance-vesting condition tied to the attainment of one or more specified performance
objectives, then the Plan Administrator shall have the authority to cancel that performance vesting condition on the effective date of such Change in Control and thereupon convert such Award into a Service-vesting Award that will vest solely in
accordance with the pre-existing Service vesting component of that Award. 

  
 19 

 ARTICLE FIVE 
 MISCELLANEOUS 
  

	 	I.	 DEFERRED COMPENSATION 

 A. The Plan Administrator may, in its sole discretion, structure one or more Awards under the Stock Issuance or Incentive Bonus Programs so that the Participants may be provided with an election to defer
the compensation associated with those Awards for federal income tax purposes. Any such deferral opportunity shall comply with all applicable requirements of Code Section 409A. 

B. The Plan Administrator may implement a non-employee Board member retainer fee deferral program under the Plan so as to
allow the non-employee Board members the opportunity to elect, prior to the start of each calendar year, to convert the Board and Board committee retainer fees to be earned for such year into restricted stock units under the Stock Issuance Program
that will defer the issuance of the shares of Common Stock that vest under those restricted stock units until a permissible date or event under Code Section 409A. If such program is implemented, the Plan Administrator shall have the authority
to establish such rules and procedures as it deems appropriate for the filing of such deferral elections and the designation of the permissible distribution events under Code Section 409A. 

C. To the extent the Corporation maintains one or more separate non-qualified deferred compensation arrangements which
allow the participants the opportunity to make notional investments of their deferred account balances in shares of Common Stock, the Plan Administrator may authorize the share reserve under the Plan to serve as the source of any shares of Common
Stock that become payable under those deferred compensation arrangements. In such event, the share reserve under the Plan shall be reduced on a share-for-share basis for each share of Common Stock issued under the Plan in settlement of the deferred
compensation owed under those separate arrangements. 
  

	 	II.	 TAX WITHHOLDING 

 A. The Corporation’s obligation to deliver shares of Common Stock upon the exercise, issuance or vesting of an Award under the Plan shall be subject to the satisfaction of all applicable income and
employment tax withholding requirements. 
 B. The Plan Administrator may, in its discretion, structure one or
more Awards so that shares of Common Stock may be used as follows to satisfy all or part of the Withholding Taxes to which such holders of those Awards may become subject in connection with the issuance, exercise, vesting or settlement of those
Awards: 
 1. Stock Withholding: The Corporation may retain the right to withhold, from the shares of
Common Stock otherwise issuable upon the issuance, exercise, vesting or settlement of such Award, a portion of those shares with an aggregate Fair Market Value equal to the applicable Withholding Taxes. The shares of Common Stock so withheld shall
reduce the number of shares of Common Stock authorized for issuance under the Plan. 

  
 20 

 2. Stock Delivery: The holder of the Award may be given the right to
deliver to the Corporation, at the time of the issuance, exercise, vesting or settlement of such Award, one or more shares of Common Stock previously acquired by such individual with an aggregate Fair Market Value at the time of delivery equal to
the percentage of the Withholding Taxes (not to exceed one hundred percent (100%)) designated by the individual. The shares of Common Stock so delivered shall neither reduce the number of shares of Common Stock authorized for issuance under the
Plan nor be added to the number of shares of Common Stock authorized for issuance under the Plan. 
  

	 	III.	 SHARE ESCROW/LEGENDS 

 Unvested shares may, in the Plan Administrator’s discretion, be held in escrow by the Corporation until the Participant’s interest in such shares vests or may be issued directly to the
Participant with restrictive legends on the certificates evidencing those unvested shares. 
  

	 	IV.	 EFFECTIVE DATE AND TERM OF THE PLAN 

A. The Plan shall become effective on the Plan Effective Date, subject to the approval of the Corporation’s
stockholders prior to the date the underwriting agreement for the initial public offering of the Common Stock is executed. Any Award made under the Plan on or after the Plan Effective Date and prior to the date of such stockholder approval shall be
subject to such stockholder approval and shall be cancelled in the event such stockholder approval is not obtained prior to the date the underwriting agreement for the initial public offering of the Common Stock is executed. 

B. The Plan shall serve as the successor to each of the Predecessor Plans, and no further option grants or restricted
stock unit awards shall be made under the Predecessor Plans. All options outstanding under the Predecessor Plans on the Plan Effective Date shall be transferred to the Plan at that time and shall be treated as outstanding options under the Plan.
However, each outstanding option so transferred shall continue to be governed solely by the terms of the documents evidencing such option, and no provision of the Plan shall be deemed to affect or otherwise modify the rights or obligations of the
holders of such transferred options with respect to their acquisition of shares of Common Stock thereunder. Should any of those transferred options expire or terminate unexercised, the shares of Common Stock subject to those options at the time of
expiration or termination shall be available for subsequent award and issuance under the Plan in accordance with the provisions of Section V.E of Article One. 
 C. One or more provisions of the Plan, including (without limitation) the vesting acceleration provisions of Article Two relating to Changes in Control may, in the Plan Administrator’s discretion, be
extended to one or more options transferred from the Predecessor Plans which do not otherwise contain such provisions. 
 D. The Plan shall terminate upon the earliest to occur of (i) September 11, 2021, (ii) the date on which all shares available for issuance under the Plan shall have been issued as
fully vested shares or (iii) the termination of all outstanding Awards in connection with a Change in Control. Should the Plan terminate on September 11, 2021, then all Awards 

  
 21 

 
outstanding at that time shall continue to have force and effect in accordance with the provisions of the documents evidencing those Awards. 

 

	 	V.	 AMENDMENT OF THE PLAN 

 A. The Board shall have complete and exclusive power and authority to amend or modify the Plan in any or all respects; provided, however, that stockholder approval shall be required for any
amendment to the Plan which (i) materially increases the number of shares of Common Stock authorized for issuance under the Plan (other than pursuant to Section V.G of Article One), (ii) materially increases the benefits accruing to
Optionees or Participants, (iii) materially expands the class of individuals eligible to participate in the Plan, (iv) expands the types of awards which may be made under the Plan or extends the term of the Plan or (v) effects any
other change or modification to the Plan for which stockholder approval is required under applicable law or regulation or pursuant to the listing standards of the Stock Exchange on which the Common Stock is at the time primarily traded. However, no
such amendment or modification shall adversely affect the rights and obligations with respect to Awards at the time outstanding under the Plan unless the Optionee or the Participant consents to such amendment or modification. 

B. The Compensation Committee shall have the discretionary authority to adopt and implement from time to time such
addenda or subplans to the Plan as it may deem necessary in order to bring the Plan into compliance with applicable laws and regulations of any foreign jurisdictions in which Awards are to be made under the Plan and/or to obtain favorable tax
treatment in those foreign jurisdictions for the individuals to whom the Awards are made. 
 C. Awards may be
made under the Plan that involve shares of Common Stock in excess of the number of shares then available for issuance under the Plan, provided no shares shall actually be issued pursuant to those Awards until the number of shares of Common Stock
available for issuance under the Plan is sufficiently increased by stockholder approval of an amendment of the Plan authorizing such increase. If such stockholder approval is not obtained within twelve (12) months after the date the first
excess Award is made, then all Awards granted on the basis of such excess shares shall terminate and cease to be outstanding. 
 D. The provisions of the Plan and the outstanding Awards under the Plan shall, in the event of any ambiguity, be construed, applied and interpreted in a manner so as to ensure that all Awards and Award
Agreements provided to Optionees or Participants who are subject to U.S. income taxation either qualify for an exemption from the requirements of Section 409A of the Code or comply with those requirements; provided, however, that
the Corporation shall not make any representations that any Awards made under the Plan will in fact be exempt from the requirements of Section 409A of the Code or otherwise comply with those requirements, and each Optionee and Participant shall
accordingly be solely responsible for any taxes, penalties or other amounts that may become payable with respect to his or her Awards by reason of Section 409A of the Code. 

  
 22 

	 	VI.	  USE OF PROCEEDS 

 Any cash proceeds received by the Corporation from the sale of shares of Common Stock under the Plan shall be used for general corporate purposes. 

 

	 	VII.	  REGULATORY APPROVALS 

 A. The implementation of the Plan, the granting of any Award under the Plan and the issuance of any shares of Common Stock in connection with the issuance, exercise, vesting or settlement of any Award
under the Plan shall be subject to the Corporation’s procurement of all approvals and permits required by regulatory authorities having jurisdiction over the Plan, the Awards made under the Plan and the shares of Common Stock issuable pursuant
to those Awards. 
 B. No shares of Common Stock or other assets shall be issued or delivered under the Plan
unless and until there shall have been compliance with all applicable requirements of applicable securities laws, including the filing and effectiveness of the Form S-8 registration statement for the shares of Common Stock issuable under the Plan,
and all applicable listing requirements of any Stock Exchange on which Common Stock is then listed for trading. 
  

	 	VIII.	  NO EMPLOYMENT/SERVICE RIGHTS 

 Nothing in the Plan shall confer upon the Optionee or the Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of
the Corporation (or any Parent or Subsidiary employing or retaining such person) or of the Optionee or the Participant, which rights are hereby expressly reserved by each, to terminate such person’s Service at any time for any reason, with or
without cause. 

  
 23 

 APPENDIX 

The following definitions shall be in effect under the Plan: 

A. Award shall mean any of the following awards authorized for issuance or grant under the Plan: stock
options, stock appreciation rights, direct stock issuances, restricted stock or restricted stock unit awards, performance shares, performance units, other stock-based awards and cash incentive awards. 

B. Award Agreement shall mean the agreement(s) between the Corporation and the Optionee or Participant
evidencing a particular Award made to that individual under the Plan, as such agreement(s) may be in effect from time to time 
 C. Board shall mean the Corporation’s Board of Directors. 
 D. Cause shall, with respect to each Award made under the Plan, be defined in accordance with the following provisions: 

 

	 	•	 	 Cause shall have the meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement incorporated by
reference into the Award Agreement for purposes of defining such term. 

  

	 	•	 	 In the absence of any other Cause definition in the Award Agreement for a particular Award (or in any other agreement incorporated by reference into
the Award Agreement), an individual’s termination of Service shall be deemed to be for Cause if such termination occurs by reason his or her commission of any act of fraud, embezzlement or dishonesty, any unauthorized use or disclosure by such
person of confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other intentional misconduct by such person adversely affecting the business or affairs of the Corporation (or any Parent or Subsidiary) in
a material manner. 

 E. Change in Control shall, with respect to each Award
made under the Plan, be defined in accordance with the following provisions: 
  

	 	•	 	 Change in Control shall have the meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement
incorporated by reference into the Award Agreement for purposes of defining such term. 

  

	 	•	 	 In the absence of any other Change in Control definition in the Award Agreement (or in any other agreement incorporated by reference into the Award
Agreement), Change in Control shall mean a change in ownership or control of the Corporation effected through any of the following transactions: 

(i) the closing of a merger, consolidation or other reorganization approved by the Corporation’s
stockholders in which a change in ownership or control of the Corporation is effected through the acquisition by any person or group of persons comprising a “group” within the meaning of Rule
13d-

  
 A-1

 
5(b)(1) of the 1934 Act (other than the Corporation or a person that, prior to such transaction, directly or indirectly controls, is controlled by or is under common control with, the
Corporation) of beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s outstanding securities (as measured in
terms of the power to vote with respect to the election of Board members), 
 (ii) the closing of
a sale, transfer or other disposition of all or substantially all of the Corporation’s assets, 
 (iii) the closing of any transaction or series of related transactions pursuant to which any person or any group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1) of the
1934 Act (other than the Corporation or a person that, prior to such transaction or series of related transactions, directly or indirectly controls, is controlled by or is under common control with, the Corporation) acquires directly or indirectly
(whether as a result of a single acquisition or by reason of one or more acquisitions within the twelve (12)-month period ending with the most recent acquisition) beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities
possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s securities (as measured in terms of the power to vote with respect to the election of Board members) outstanding immediately after the
consummation of such transaction or series of related transactions, whether such transaction involves a direct issuance from the Corporation or the acquisition of outstanding securities held by one or more of the Corporation’s existing
stockholders, 
 (iv) a merger, recapitalization, consolidation, or other transaction to which
the Corporation is a party or the sale, transfer or other disposition of all or substantially all of the Corporation’s assets if, in either case, the members of the Board immediately prior to consummation of the transaction do not, upon
consummation of the transaction, constitute at least a majority of the board of directors of the surviving entity or the entity acquiring the Corporation’s assets, as the case may be, or a parent thereof, or 

(v) a change in the composition of the Board over a period of thirty-six (36) consecutive months or
less such that a majority of the Board members ceases by reason of one or more contested elections for Board membership to be comprised of individuals who either (A) have been Board members continuously since the beginning of such period or
(B) have been elected or nominated for election as Board members during such period by at least a majority of the Board members described in clause (A) who were still in office at the time the Board approved such election or nomination.

  
 A-2

 F. Code shall mean the Internal Revenue Code of 1986, as
amended. 
 G. Common Stock shall mean the Corporation’s common stock. 

H. Compensation Committee shall mean the Compensation Committee of the Board comprised of two (2) or
more non-employee Board members. 
 I. Corporation shall mean GCT Semiconductor, Inc., a Delaware
corporation, and any corporate successor to all or substantially all of the assets or voting stock of GCT Semiconductor, Inc. which has by appropriate action assumed the Plan. 

J. Employee shall mean an individual who is in the employ of the Corporation (or any Parent or Subsidiary,
whether now existing or subsequently established), subject to the control and direction of the employer entity as to both the work to be performed and the manner and method of performance. 

K. Exercise Date shall mean the date on which the Corporation shall have received written notice of the
option exercise. 
 L. Fair Market Value per share of Common Stock on any relevant date shall be
determined in accordance with the following provisions: 
 (i) If the Common Stock is at the time
traded on the Nasdaq Global or Global Select Market, then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question, as such price is reported by the National Association of Securities Dealers for
that particular Stock Exchange and published in The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding
date for which such quotation exists. 
 (ii) If the Common Stock is at the time listed on any
other Stock Exchange, then the Fair Market Value shall be the closing selling price per share of Common Stock on the date in question on the Stock Exchange determined by the Plan Administrator to be the primary market for the Common Stock, as such
price is officially quoted in the composite tape of transactions on such exchange and published in The Wall Street Journal. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be
the closing selling price on the last preceding date for which such quotation exists. 
 (iii) If
the Common Stock is not at the time listed on any Stock Exchange, then the Fair Market Value shall be determined by the Plan Administrator through the reasonable application of a reasonable valuation method that takes into account the applicable
valuation factors set forth in the Treasury Regulations issued under Section 409A of the Code; provided, however, that with respect to an Incentive Option, such Fair Market Value shall be determined in accordance with the
standards of Section 422 of the Code and the applicable Treasury Regulations thereunder. 

  
 A-3

 M. Family Member means, with respect to a particular Optionee
or Participant, any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law. 

N. Good Reason shall, with respect to each Award made under the Plan, be defined in accordance with the
following provisions: 
  

	 	•	 	 Good Reason shall have the meaning assigned to such term in the Award Agreement for the particular Award or in any other agreement incorporated by
reference into the Award Agreement for purposes of defining such term. 

  

	 	•	 	 In the absence of any other Good Reason definition in the Award Agreement (or in any other agreement incorporated by reference into the Award
Agreement), Good Reason shall mean an individual’s voluntary resignation following 

 (A) a material reduction in the scope of the duties, responsibilities and authority of his or her position with the Corporation (or any Parent or Subsidiary), it being understood that a change in such
individual’s title shall not, in and of itself, be deemed a material reduction, 
 (B) a
materially adverse change in his or her reporting requirements so that such individual is required to report to a person whose duties, responsibilities and authority are materially less than the person to whom he or she previously reported,

 (C) a material reduction in such individual’s base salary or the aggregate of his or her
base salary and target bonus under any corporate-performance based bonus or incentive programs, with a reduction of fifteen percent (15%) or more to the his or her base salary or aggregate base salary and target bonus to be deemed a material,
or 
 (D) a relocation of such individual’s place of employment by more than
fifty (50) miles; 
 provided and only if such change, reduction or relocation is effected by the Corporation (or any
Parent or Subsidiary) without the individual’s consent. 
 O. Incentive Bonus Program shall
mean the incentive bonus program in effect under Article Four of the Plan. 
 P. Incentive Option
shall mean an option which satisfies the requirements of Code Section 422. 

  
 A-4

 Q. Involuntary Termination shall mean the termination of the
Service of any individual which occurs by reason of: 
 (i) such individual’s involuntary
dismissal or discharge by the Corporation (or any Parent or Subsidiary) for reasons other than for Cause, or 
 (ii) such individual’s voluntary resignation for Good Reason. 

R. 1934 Act shall mean the Securities Exchange Act of 1934, as amended. 

S. Non-Statutory Option shall mean an option not intended to satisfy the requirements of Code
Section 422. 
 T. Option/SAR Grant Program shall mean the grant program in effect under
Article Two of the Plan pursuant to which stock options and stock appreciation rights may be granted to one or more eligible individuals. 
 U. Optionee shall mean any person to whom an option is granted under the Discretionary Grant Program. 

V. Parent shall mean any corporation (other than the Corporation) in an unbroken chain of corporations
ending with the Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of
stock in one of the other corporations in such chain. 
 W. Participant shall mean any person who
is issued (i) shares of Common Stock, restricted stock units, performance shares, performance units or other stock-based awards under the Stock Issuance Program or (ii) an incentive bonus award under the Incentive Bonus Program.

 X. Performance Goals shall mean any of the following performance criteria upon which the
vesting of one or more Awards under the Plan may be based: (i) earnings or operating income before interest, taxes, depreciation, amortization and/or charges for stock-based compensation; (ii) earnings per share; (iii) growth in
earnings or earnings per share; (iv) market price of the Common Stock; (v) return on equity or average stockholder equity; (vi) total stockholder return or growth in total stockholder return; (vii) return on capital or invested
capital; (viii) return on assets or net assets; (ix) revenue, growth in revenue or return on sales; (x) income or net income; (xi) operating income or net operating income; (xii) operating profit or net operating profit;
(xiii) operating margin; (xiv) return on operating revenue or return on operating profit; (xv) cash flow, operating cash flow or free cash flow; (xvi) market share; (xvii) collections and recoveries, (xviii) debt
reduction, (xix) litigation and regulatory resolution goals, (xx) expense control goals, (xxi) budget comparisons, (xxii) development and implementation of strategic plans and/or organizational restructuring goals;
(xxiii) productivity goals; (xxiv) workforce management; (xxv) economic value added, (xxvi) measures of customer satisfaction, (xxvii) formation of joint ventures or marketing or customer service collaborations or the
completion of other corporate transactions intended to enhance the Corporation’s revenue or profitability or enhance its customer base; and (xxviii) mergers and acquisitions. In addition,

  
 A-5

 
such performance criteria may be based upon the attainment of specified levels of the Corporation’s performance under one or more of the measures described above relative to the performance
of other entities and may also be based on the performance of any of the Corporation’s business units or divisions or any Parent or Subsidiary. Each applicable Performance Goal may include a minimum threshold level of performance below which no
Award will be earned, levels of performance at which specified portions of an Award will be earned and a maximum level of performance at which an Award will be fully earned. Each applicable performance goal may be structured at the time of the Award
to provide for appropriate adjustments or exclusions for one or more of the following items: (A) asset impairments or write-downs; (B) litigation and governmental investigation expenses and judgments, verdicts and settlements in connection
therewith; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; (E) costs and expenses incurred in
connection with mergers and acquisitions; (F) bonus or incentive compensation costs and expenses associated with cash-based awards made under the Plan or other bonus or incentive compensation plans of the Corporation or any Parent or
Subsidiary, (G) extraordinary or nonrecurring items; (H) items of income, gain, loss or expense attributable to the operations of any business acquired by the Corporation or any Parent or Subsidiary; (I) items of income, gain, loss or
expense attributable to one or more business operations divested by the Corporation or any Parent or Subsidiary or the gain or loss realized upon the sale of any such business or the assets thereof and (J) the impact of foreign currency
fluctuations or changes in exchange rates. 
 Y. Permanent Disability or Permanently Disabled
shall mean the inability of the Optionee or the Participant to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment expected to result in death or to be of continuous duration of twelve
(12) months or more. 
 Z. Plan shall mean the Corporation’s 2011 Incentive Compensation
Plan, as set forth in this document and as subsequently amended or modified from time to time. 
 AA. Plan
Administrator shall mean the particular entity, whether the Compensation Committee, the Board or the Secondary Board Committee, which is authorized to administer the Plan with respect to one or more classes of eligible persons, to the extent
such entity is carrying out its administrative functions under the Plan with respect to the persons under its jurisdiction. 
 BB. Plan Effective Date shall mean the date on which the Plan is adopted by the Board, subject to the approval of the Corporation’s stockholders prior to the date the underwriting
agreement for the initial public offering of the Common Stock is executed. 
 CC. Predecessor
Plans shall mean (i) the Corporation’s 2010 Stock Option/Stock Issuance Plan and (ii) the Corporation’s 2002 Special Stock Option/Stock Issuance Plan. 

DD. Secondary Board Committee shall mean a committee of one or more Board members appointed by the Board to
administer the Plan with respect to eligible persons other than Section 16 Insiders. 

  
 A-6

 EE. Section 16 Insider shall mean an officer or director
of the Corporation subject to the short-swing profit liabilities of Section 16 of the 1934 Act. 
 FF.
Service shall mean the performance of services for the Corporation (or any Parent or Subsidiary, whether now existing or subsequently established) by a person in the capacity of an Employee, a non-employee member of the board of
directors or a consultant or independent advisor, except to the extent otherwise specifically provided in the documents evidencing the option grant or stock issuance. For purposes of the Plan, an Optionee or Participant shall be deemed to cease
Service immediately upon the occurrence of the either of the following events: (i) the Optionee or Participant no longer performs services in any of the foregoing capacities for the Corporation or any Parent or Subsidiary or (ii) the
entity for which the Optionee or Participant is performing such services ceases to remain a Parent or Subsidiary of the Corporation, even though the Optionee or Participant may subsequently continue to perform services for that entity. Service shall
not be deemed to cease during a period of military leave, sick leave or other personal leave approved by the Corporation; provided, however, that should such leave of absence exceed three (3) months, then for purposes of
determining the period within which an Incentive Option may be exercised as such under the federal tax laws, the Optionee’s Service shall be deemed to cease on the first day immediately following the expiration of such three (3)-month period,
unless Optionee is provided with the right to return to Service following such leave either by statute or by written contract. Except to the extent otherwise required by law or expressly authorized by the Plan Administrator or by the
Corporation’s written policy on leaves of absence, no Service credit shall be given for vesting purposes for any period the Optionee or Participant is on a leave of absence. 

GG. Stock Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the
New York Stock Exchange. 
 HH. Stock Issuance Agreement shall mean the agreement entered into by
the Corporation and the Participant at the time of issuance of shares of Common Stock under the Stock Issuance Program. 
 II. Stock Issuance Program shall mean the stock issuance program in effect under Article Three of the Plan. 

JJ. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of corporations
beginning with the Corporation, provided each corporation (other than the last corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all
classes of stock in one of the other corporations in such chain. 
 KK. 10% Stockholder shall mean
the owner of stock (as determined under Code Section 424(d)) possessing more than ten percent (10%) of the total combined voting power of all classes of stock of the Corporation (or any Parent or Subsidiary). 

LL. Withholding Taxes shall mean the applicable federal and state income and employment withholding taxes
to which the holder of an Award under the Plan may become subject in connection with the issuance, exercise, vesting or settlement of that Award. 

  
 A-7Forms of Notice of Grant of Stock Option

 Exhibit 10.10 
 GCT SEMICONDUCTOR, INC. 
 FORM OF NOTICE OF GRANT OF STOCK OPTION

 Notice is hereby given of the following option grant (the “Option”) to purchase shares of
the Common Stock of GCT Semiconductor, Inc. (the “Corporation”): 
  

			
	 Optionee:
	  	
		
	 Grant Date:
	  	
                              
                                      ,

	 20        
	  	
		
	 Exercise Price:
	  	 $             per share

		
	 Number of
	  	
	 Option Shares:
	  	              shares

		
	 Expiration Date:
	  	             , 20        

  

					
	 Type of
 Option:
  
	  	         
	  	 Incentive Stock Option

	  	         
	  	 Non-Statutory Stock Option

 Exercise Schedule: The Option shall become exercisable in a series of installments
over the Optionee’s period of Service as follows: (i) the Option shall become exercisable for twenty-five percent (25%) of the Option Shares upon Optionee’s completion of one (1) year of Service measured from the Grant Date,
and (ii) the Option shall become exercisable for the balance of the Option Shares in a series of thirty-six (36) successive equal monthly installments upon Optionee’s completion of each additional month of Service over the thirty-six
(36) month period measured from the first anniversary of the Grant Date. Except as may otherwise be provided in the attached Stock Option Agreement, the Option shall not become exercisable for any additional Option Shares after Optionee’s
cessation of Service. 
 Optionee understands and agrees that the Option is granted subject to and in accordance
with the terms of the GCT Semiconductor, Inc. 2011 Incentive Compensation Plan (the “Plan”). Optionee further agrees to be bound by the terms of the Plan and the terms of the Option as set forth in the Stock Option Agreement attached
hereto as Exhibit A. Optionee hereby acknowledges receipt of the official prospectus for the Plan attached hereto as Exhibit B. Optionee may obtain additional copies of the prospectus and a copy of the Plan document at any time upon
written request to Corporation at its principal offices at 2121 Ringwood Avenue, San Jose, CA 95131. 

Employment at Will. Nothing in this Notice or in the attached Stock Option Agreement or in the Plan shall confer
upon Optionee any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the 

 
Corporation (or any Parent or Subsidiary employing or retaining Optionee) or of Optionee, which rights are hereby expressly reserved by each, to terminate Optionee’s Service at any time for
any reason, with or without cause. 
 Definitions. All capitalized terms in this Notice shall have the
meaning assigned to them in this Notice or in the Stock Option Agreement attached as Exhibit A, as applicable. 
 DATED:
                    , 20         

 

			
	 GCT SEMICONDUCTOR, INC.

 

	 By:
	 	  

		
	 Title:
	 	  

		
		 	  

		 	OPTIONEE

 ATTACHMENTS 
 EXHIBIT A — STOCK OPTION AGREEMENT 
 EXHIBIT B — PLAN PROSPECTUS

 GCT SEMICONDUCTOR, INC. 

FORM OF STOCK OPTION AGREEMENT 
 RECITALS 
 A. The Board has adopted the Plan for the
purpose of retaining the services of selected Employees and consultants and other independent advisors who provide services to the Corporation (or any Parent or Subsidiary). 

B. Optionee is to render valuable services to the Corporation (or a Parent or Subsidiary), and this Agreement is executed
pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Corporation’s grant of an option to Optionee. 
 C. All capitalized terms in this Agreement shall have the meaning assigned to them in the attached Appendix or, if not defined therein, the Plan. 
 NOW, THEREFORE, it is hereby agreed as follows: 
 1.
Grant of Option. The Corporation hereby grants to Optionee, as of the Grant Date, an option to purchase up to the number of Option Shares specified in the Grant Notice. The Option Shares shall be purchasable from time to time during
the option term specified in Paragraph 2 at the Exercise Price. 
 2. Option Term. The term of
this option shall commence on the Grant Date and continue in effect until the close of business on the Expiration Date, unless sooner terminated in accordance with Paragraph 5 or 6. 

3. Limited Transferability. 

(a) Except to the limited extent provided in Paragraph 3(b), this option shall be neither transferable nor assignable by
Optionee other than by will or the laws of inheritance following Optionee’s death and may be exercised, during Optionee’s lifetime, only by Optionee. However, Optionee may designate one or more persons as the beneficiary or beneficiaries
of this option, and this option shall, in accordance with such designation, automatically be transferred to such beneficiary or beneficiaries upon the Optionee’s death while holding this option. Such beneficiary or beneficiaries shall take the
transferred option subject to all the terms and conditions of this Agreement, including (without limitation) the limited time period during which this option may, pursuant to Paragraph 5, be exercised following Optionee’s death. 

(b) If this option is designated a Non-Statutory Option in the Grant Notice, then this option may, with the Plan
Administrator’s consent, be assigned in whole or in part during Optionee’s lifetime through a gratuitous transfer to one or more of Optionee’s Family Members or to a trust established for the exclusive benefit of Optionee and/or one
or more such Family Members. The assigned portion shall be exercisable only by the person or persons who acquire a proprietary interest in the option pursuant to such assignment. The terms applicable to the assigned portion shall be the same as
those in effect for this option immediately prior to such assignment. 

 4. Dates of Exercise. This option shall become exercisable for
the Option Shares in one or more installments in accordance with the Exercise Schedule set forth in the Grant Notice. As the option becomes exercisable for such installments, those installments shall accumulate, and the option shall remain
exercisable for the accumulated installments until the Expiration Date or sooner termination of the option term under Paragraph 5 or 6. 
 5. Cessation of Service. The option term specified in Paragraph 2 above shall terminate (and this option shall cease to be outstanding) prior to the Expiration Date should any of the
following provisions become applicable: 
 (a) Except as otherwise expressly provided in subparagraphs
(b) through (f) of this Paragraph 5, should Optionee cease to remain in Service for any reason while this option is outstanding, then Optionee (or other permitted transferee of this option in accordance with Paragraph 3(a)) shall have
until the close of business on the last business day coincident with or immediately preceding the expiration of the three (3)-month period measured from the date of such cessation of Service during which to exercise this option for any or all of the
Option Shares for which this option is vested and exercisable at the time of Optionee’s cessation of Service, but in no event shall this option be exercisable at any time after the close of business on the last business day coincident with or
immediately preceding the Expiration Date. 
 (b) In the event Optionee ceases Service by reason of his or her
death while this option is outstanding, then this option may be exercised, for any or all of the Option Shares for which this option is vested and exercisable at the time of Optionee’s cessation of Service, by (i) the personal
representative of Optionee’s estate, (ii) the person or persons to whom the option is transferred pursuant to Optionee’s will or the laws of inheritance following Optionee’s death or (iii) the person or persons to whom this
option is transferred in accordance with Paragraph 3(a), as the case may be. However, if Optionee dies while holding this option and has an effective beneficiary designation in effect for this option at the time of his or her death, then the
designated beneficiary or beneficiaries shall have the exclusive right to exercise this option following Optionee’s death. Any such right to exercise this option pursuant to this Paragraph 5(b) shall lapse, and this option shall cease to be
outstanding, upon the close of business on the last business day coincident with or immediately preceding the earlier of (i) the expiration of the twelve (12)-month period measured from the date of Optionee’s death or
(ii) the Expiration Date. Upon the expiration of such limited exercise period, this option shall terminate and cease to be outstanding for any exercisable Option Shares for which the option has not otherwise been exercised. 

(c) Should Optionee cease Service by reason of Permanent Disability while this option is outstanding, then Optionee (or
other permitted transferee of this option in accordance with Paragraph 3(a)) shall have until the close of business on the last business day coincident with or immediately preceding the expiration of the twelve (12)-month period measured from the
date of such cessation of Service during which to exercise this option for any or all of the Option Shares for which this option is vested and exercisable at the time of such cessation of Service. In no event, however, shall this option be
exercisable at any time after the close of business on the last business day coincident with or immediately preceding the Expiration Date. 

 (d) The applicable period of post-Service exercisability in effect pursuant
to the foregoing provisions of this Paragraph 5 shall automatically be extended by an additional period of time equal in duration to any interval within such post-Service exercise period during which the exercise of this option or the immediate sale
of the Option Shares acquired under this option cannot be effected in compliance with the applicable registration requirements of federal and state securities laws, but in no event shall such an extension result in the continuation of this option
beyond the close of business on the last business day coincident with or immediately preceding the Expiration Date. 
 (e) Should Optionee’s Service be terminated for Cause, or should Optionee engage in any other conduct, while in Service or following cessation of Service, that is materially detrimental to the
business or affairs of the Corporation, as determined in the sole discretion of the Plan Administrator, then this option, whether or not vested and exercisable at the time, shall terminate immediately and cease to be outstanding. 

(f) During the limited period of post-Service exercisability provided under this Paragraph 5, this option may not be
exercised in the aggregate for more than the number of Option Shares for which this option is at the time vested and exercisable. Except to the extent (if any) specifically authorized by the Plan Administrator pursuant to an express written
agreement with the Optionee, this option shall not vest or become exercisable for any additional Option Shares, whether pursuant to the normal Exercise Schedule set forth in the Grant Notice or the special vesting acceleration provisions of
Paragraph 6 below, following Optionee’s cessation of Service. Upon the expiration of such limited exercise period or (if earlier) upon the close of business on the last business day coincident with or immediately preceding the Expiration Date,
this option shall terminate and cease to be outstanding for any exercisable Option Shares for which the option has not otherwise been exercised. 
 6. Change in Control. 
 (a) Should a Change in
Control occur during the Optionee’s period of Service, then this option, to the extent outstanding at the time but not otherwise fully exercisable, shall automatically accelerate so that this option shall, immediately prior to the effective
date of such Change in Control, become exercisable for all of the Option Shares at the time subject to this option and may be exercised for any or all of those Option Shares as fully vested shares of Common Stock. However, this option shall
not become exercisable on such an accelerated basis if and to the extent: (i) this option is to be assumed by the successor entity (or parent thereof) or is otherwise to continue in full force and effect pursuant to the terms of
the Change in Control transaction, (ii) this option is to be replaced with an economically-equivalent substitute equity award or (iii) this option is to be replaced with a cash retention program of the successor entity (or parent thereof)
which preserves the spread existing at the time of the Change in Control on any Option Shares for which this option is not otherwise at that time vested and exercisable (the excess of the Fair Market Value of those Option Shares over the aggregate
Exercise Price payable for such shares) and provides for the subsequent vesting and concurrent payout of that spread in accordance with the same Exercise Schedule for those Option Shares set forth in the Grant Notice. Notwithstanding the foregoing,
no such cash retention program shall be 

 
established for this option (or any other option granted to Optionee under the Plan) to the extent such program would otherwise be deemed to constitute a deferred compensation arrangement subject
to the requirements of Code Section 409A and the Treasury Regulations thereunder or otherwise cause this option to constitute such a deferred compensation arrangement. 

(b) Immediately following the consummation of the Change in Control, this option shall terminate and cease to be
outstanding, except to the extent assumed by the successor entity (or parent thereof) or otherwise continued in effect pursuant to the terms of the Change in Control transaction. 

(c) If this option is assumed in connection with a Change in Control or otherwise continued in effect, then this option
shall be appropriately adjusted, immediately after such Change in Control, to apply to the number and class of securities into which the shares of Common Stock subject to this option would have been converted in consummation of such Change in
Control had those shares actually been outstanding at the time. Appropriate adjustments shall also be made to the Exercise Price, provided the aggregate Exercise Price shall remain the same. To the extent the actual holders of the outstanding Common
Stock receive cash consideration for their Common Stock in consummation of the Change in Control, the successor entity (or parent thereof) may, in connection with the assumption or continuation of this option but subject to the Plan
Administrator’s approval prior to the Change in Control, substitute one or more shares of its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in such Change in Control, provided such
common stock is readily tradable on an established U.S. securities exchange. 
 (d) This Agreement shall not in
any way affect the right of the Corporation to adjust, reclassify, reorganize or otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets.

 7. Adjustment in Option Shares. Should any change be made to the Common Stock by reason of any
stock split, stock dividend, recapitalization, combination of shares, exchange of shares, spin-off transaction, or other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of consideration, or should the
value of the outstanding shares of Common Stock be substantially reduced as a result of a spin-off transaction or an extraordinary dividend or distribution, or should there occur any merger, consolidation or other reorganization, then equitable and
proportional adjustments shall be made by the Plan Administrator to (i) the total number and/or class of securities subject to this option and (ii) the Exercise Price. The adjustments shall be made in such manner as the Plan Administrator
deems appropriate, and those adjustments shall be final, binding and conclusive upon Optionee and any other person or persons having an interest in the option. In the event of any Change in Control transaction, the adjustment provisions of Paragraph
6(c) above shall be controlling. 
 8. Stockholder Rights. The holder of this option shall not
have any stockholder rights with respect to the Option Shares until such person shall have exercised the option, paid the Exercise Price and become a holder of record of the purchased shares. 

 9. Manner of Exercising Option. 

(a) In order to exercise this option with respect to all or any part of the Option Shares for which this option is at the
time exercisable, Optionee (or any other person or persons exercising the option) must take the following actions: 
 (i) Execute and deliver to the Corporation a Notice of Exercise as to the Option Shares for which the option is exercised or comply with such other procedures as the Corporation may establish for
notifying the Corporation, either directly or through an on-line internet transaction with a brokerage firm authorized by the Corporation to effect such option exercises, of the exercise of this option for one or more Option Shares. 

(ii) Pay the aggregate Exercise Price for the purchased shares in one or more of the following forms:

 (A) cash or check made payable to the Corporation; or 

(B) shares of Common Stock otherwise issuable under this option at the time of exercise but withheld to
cover the aggregate Exercise Price for the purchase shares, including the withheld shares, and valued for such purpose at Fair Market Value on the Exercise Date; or 

(C) shares of Common Stock (whether delivered in the form of actual stock certificates or through
attestation of ownership in a manner reasonably satisfactory to the Corporation) held for the requisite period (if any) necessary to avoid any resulting charge to the Corporation’s earnings for financial reporting purposes and valued at Fair
Market Value on the Exercise Date; or 
 (D) through a special sale and remittance procedure
pursuant to which Optionee (or any other person or persons exercising the option) shall concurrently provide irrevocable instructions (i) to a brokerage firm (reasonably satisfactory to the Corporation for purposes of administering such
procedure in accordance with the Corporation’s pre-clearance/pre-notification policies) to effect the immediate sale of all or a sufficient portion of the purchased shares so that such brokerage firm can remit to the Corporation, on the
settlement date, sufficient funds out of the resulting sale proceeds to cover the aggregate Exercise Price payable for all the purchased shares plus all applicable Withholding Taxes and (ii) to the Corporation to deliver the certificates for
the purchased shares directly to such brokerage firm on such settlement date. 

 Except to the extent the sale and remittance procedure is utilized in
connection with the option exercise, payment of the Exercise Price must accompany the Notice of Exercise (or other notification procedure) delivered to the Corporation in connection with the option exercise. 

(iii) Furnish to the Corporation appropriate documentation that the person or persons exercising the
option (if other than Optionee) have the right to exercise this option. 
 (iv) Make appropriate
arrangements with the Corporation (or Parent or Subsidiary employing or retaining Optionee) for the satisfaction of all applicable Withholding Taxes. 
 (b) As soon as practical after the Exercise Date, the Corporation shall issue to or on behalf of Optionee (or any other person or persons exercising this option) a certificate for the purchased Option
Shares (either in paper or electronic form), with the appropriate legends affixed thereto. 
 (c) In no event
may this option be exercised for any fractional shares. 
 10. Compliance with Laws and
Regulations. 
 (a) The exercise of this option and the issuance of the Option Shares upon such exercise
shall be subject to compliance by the Corporation and Optionee with all applicable requirements of law relating thereto and with all applicable regulations of each Stock Exchange on which the Common Stock is listed for trading at the time of such
exercise and issuance. 
 (b) The inability of the Corporation to obtain approval from any regulatory body
having authority deemed by the Corporation to be necessary to the lawful issuance and sale of any Common Stock pursuant to this option shall relieve the Corporation of any liability with respect to the non-issuance or sale of the Common Stock as to
which such approval shall not have been obtained. The Corporation, however, shall use its best efforts to obtain all such approvals. 
 11. Successors and Assigns. Except to the extent otherwise provided in Paragraphs 3 and 6 above, the provisions of this Agreement shall inure to the benefit of and be binding upon the
Corporation and its successors and assigns and Optionee, Optionee’s assigns, the legal representatives, heirs and legatees of Optionee’s estate and any beneficiaries of this option designated by Optionee. 

12. Notices. Any notice required to be given or delivered to the Corporation under the terms of this
Agreement shall be in writing and addressed to the Corporation at its principal corporate offices. Any notice required to be given or delivered to Optionee shall be in writing and addressed to Optionee at the most current address then indicated for
Optionee on the Corporation’s employee records or shall be delivered electronically to Optionee through 

 
the Corporation’s electronic mail system. All notices shall be deemed effective upon personal delivery or delivery through the Corporation’s electronic mail system or upon deposit in
the U.S. mail, postage prepaid and properly addressed to the party to be notified. 
 13.
Construction. This Agreement and the option evidenced hereby are made and granted pursuant to the Plan and are in all respects limited by and subject to the terms of the Plan. In the event of any conflict between the provisions of this
Agreement and the terms of the Plan, the terms of the Plan shall be controlling. All decisions of the Plan Administrator with respect to any question or issue arising under the Plan or this Agreement shall be conclusive and binding on all persons
having an interest in this option. 
 14. Governing Law. The interpretation, performance and
enforcement of this Agreement shall be governed by the laws of the State of California without resort to that State’s conflict-of-laws rules. 
 15. Excess Shares. If the Option Shares covered by this Agreement exceed, as of the Grant Date, the number of shares of Common Stock which may without stockholder approval be issued under
the Plan, then this option shall be void with respect to those excess shares, unless stockholder approval of an amendment sufficiently increasing the number of shares of Common Stock issuable under the Plan is obtained in accordance with the
provisions of the Plan. In no event shall the option be exercisable with respect to any of the excess Option Shares unless and until such stockholder approval is obtained. 

16. Additional Terms Applicable to an Incentive Option. In the event this option is designated an Incentive
Option in the Grant Notice, the following terms and conditions shall also apply to the grant: 
 (a) This
option shall cease to qualify for favorable tax treatment as an Incentive Option if (and to the extent) this option is exercised for one or more Option Shares: (A) more than three (3) months after the date Optionee ceases to be an Employee
for any reason other than death or Permanent Disability or (B) more than twelve (12) months after the date Optionee ceases to be an Employee by reason of Permanent Disability. 

(b) No installment under this option shall qualify for favorable tax treatment as an Incentive Option if (and to the
extent) the aggregate Fair Market Value (determined at the Grant Date) of the Common Stock for which such installment first becomes exercisable hereunder would, when added to the aggregate value (determined as of the respective date or dates of
grant) of the Common Stock or other securities for which this option or any other Incentive Options granted to Optionee prior to the Grant Date (whether under the Plan or any other option plan of the Corporation or any Parent or Subsidiary) first
become exercisable during the same calendar year, exceed One Hundred Thousand Dollars ($100,000) in the aggregate. Should such One Hundred Thousand Dollar ($100,000) limitation be exceeded in any calendar year, this option shall nevertheless become
exercisable for the excess shares in such calendar year as a Non-Statutory Option. 

 (c) Should the exercisability of this option be accelerated upon a Change
in Control, then this option shall qualify for favorable tax treatment as an Incentive Option only to the extent the aggregate Fair Market Value (determined at the Grant Date) of the Common Stock for which this option first becomes exercisable in
the calendar year in which the Change in Control transaction occurs does not, when added to the aggregate value (determined as of the respective date or dates of grant) of the Common Stock or other securities for which this option or one or more
other Incentive Options granted to Optionee prior to the Grant Date (whether under the Plan or any other option plan of the Corporation or any Parent or Subsidiary) first become exercisable during the same calendar year, exceed One Hundred Thousand
Dollars ($100,000) in the aggregate. Should the applicable One Hundred Thousand Dollar ($100,000) limitation be exceeded in the calendar year of such Change in Control, the option may nevertheless be exercised for the excess shares in such calendar
year as a Non-Statutory Option. 
 (d) Should Optionee hold, in addition to this option, one or more other
options to purchase Common Stock which become exercisable for the first time in the same calendar year as this option, then for purposes of the foregoing limitations on the exercisability of such options as Incentive Options, this option and each of
those other options shall be deemed to become first exercisable in that calendar year, on the basis of the chronological order in which such options were granted, except to the extent otherwise provided under applicable law or regulation 

17. Employment at Will. Nothing in this Agreement or in the Plan shall confer upon Optionee any right to
continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the Corporation (or any Parent or Subsidiary employing or retaining Optionee) or of Optionee, which rights are hereby expressly
reserved by each, to terminate Optionee’s Service at any time for any reason, with or without cause. 
 18.
Plan Prospectus. The official prospectus for the Plan is available on the Corporation’s intranet site at:                    .
Optionee may also obtain a printed copy of the prospectus by contacting the Corporation at its principal corporate offices. 
 19. Optionee Acceptance. Optionee must accept the terms and conditions of this Agreement either electronically through the electronic acceptance procedure established by the Corporation or
through a written acceptance delivered to the Corporation in a form satisfactory to the Corporation. In no event shall this option be exercised in the absence of such acceptance. 

 IN WITNESS WHEREOF, GCT Semiconductor, Inc. has caused this Agreement
to be executed on its behalf by its duly-authorized officer on the day and year first indicated above. 
  

			
	GCT SEMICONDUCTOR, INC.
		
	 By:
	 	  

		
	 Title:
	 	  

  

 APPENDIX 
 The following definitions shall be in effect under the Agreement: 

A. Agreement shall mean this Stock Option Agreement. 

B. Board shall mean the Corporation’s Board of Directors. 

C. Cause shall mean Optionee’s commission of any act of fraud, embezzlement or dishonesty, any
unauthorized use or disclosure by Optionee of confidential information or trade secrets of the Corporation (or any Parent or Subsidiary), or any other intentional misconduct by Optionee adversely affecting the business or affairs of the Corporation
(or any Parent or Subsidiary) in a material manner. The foregoing definition shall not in any way preclude or restrict the right of the Corporation (or any Parent or Subsidiary) to discharge or dismiss Optionee or any other person in the Service of
the Corporation (or any Parent or Subsidiary) for any other acts or omissions, but such other acts or omissions shall not be deemed, for purposes of this Agreement, to constitute grounds for a termination for Cause. 

D. Change in Control shall mean a change in ownership or control of the Corporation effected through any of
the following transactions: 
 (i) the closing of a merger, consolidation or other reorganization
approved by the Corporation’s stockholders in which a change in ownership or control of the Corporation is effected through the acquisition by any person or group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1)
of the 1934 Act (other than the Corporation or a person that, prior to such transaction, directly or indirectly controls, is controlled by or is under common control with, the Corporation) of beneficial ownership (within the meaning of Rule 13d-3 of
the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s outstanding securities (as measured in terms of the power to vote with respect to the election of Board members),

 (ii) the closing of a sale, transfer or other disposition of all or substantially all of the
Corporation’s assets, 
 (iii) the closing of any transaction or series of related
transactions pursuant to which any person or any group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that, prior to such transaction or series of related
transactions, directly or indirectly controls, is controlled by or is under common control with, the Corporation) acquires directly or indirectly (whether as a result of a single acquisition or by reason of one or more acquisitions within the twelve
(12)-month period ending with the most recent acquisition) beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the
Corporation’s securities (as measured in terms of the power to vote with respect to the election 

 
of Board members) outstanding immediately after the consummation of such transaction or series of related transactions, whether such transaction involves a direct issuance from the Corporation or
the acquisition of outstanding securities held by one or more of the Corporation’s existing stockholders, 
 (iv) a change in the composition of the Board over a period of twelve (12) consecutive months or less such that a majority of the Board members ceases by reason of one or more contested elections for
Board membership to be comprised of individuals who either (A) have been Board members continuously since the beginning of such period or (B) have been elected or nominated for election as Board members during such period by at least a
majority of the Board members described in clause (A) who were still in office at the time the Board approved such election or nomination. 
 E. Code shall mean the Internal Revenue Code of 1986, as amended. 
 F. Common Stock shall mean shares of the Corporation’s common stock. 
 G. Corporation shall mean GCT Semiconductor, Inc., a Delaware corporation, and any successor entity to all or substantially all of the assets or voting stock of GCT Semiconductor, Inc. which
shall by appropriate action adopt the Plan. 
 H. Employee shall mean an individual who is in the
employ of the Corporation (or any Parent or Subsidiary) subject to the control and direction of the employer entity as to both the work to be performed and the manner and method of performance. 

I. Exercise Date shall mean the date on which the option shall have been exercised in accordance with
Paragraph 9 of the Agreement. 
 J. Exercise Price shall mean the exercise price payable per
Option Share as specified in the Grant Notice. 
 K. Exercise Schedule shall mean the schedule set
forth in the Grant Notice pursuant to which the option is to become exercisable for the Option Shares in one or more installments over the Optionee’s period of Service. 

L. Expiration Date shall mean the date specified in the Grant Notice for measuring the maximum term for
which the option may remain outstanding. 
 M. Fair Market Value per share of Common Stock on any
relevant date shall be the closing price per share of Common Stock at the close of regular trading hours (i.e., before after-hours trading begins) on the date in question on the Stock Exchange serving as the primary market for the Common Stock, as
such price is reported by the National Association of Securities Dealers (if primarily traded on the Nasdaq Global or Global Select Market) or as officially quoted in the composite tape of transactions on any other Stock Exchange on which the Common
Stock is then primarily traded. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation exists. 

 N. Family Member shall mean any of the following members of
Optionee’s family: any child, stepchild, grandchild, parent, stepparent, grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law or sister-in-law. 

O. Grant Date shall mean the date of grant of the option as specified in the Grant Notice. 

P. Grant Notice shall mean the Notice of Grant of Stock Option informing Optionee of the basic terms of the
option subject to this Agreement. 
 Q. 1934 Act shall mean the Securities Exchange Act of 1934, as
amended from time to time. 
 R. Non-Statutory Option shall mean an option not intended to
satisfy the requirements of Code Section 422. 
 S. Notice of Exercise shall mean the notice
of option exercise in the form authorized by the Corporation. 
 T. Option Shares shall mean the
number of shares of Common Stock subject to the option as specified in the Grant Notice. 
 U.
Optionee shall mean the person to whom the option is granted as specified in the Grant Notice. 

V. Parent shall mean a “parent corporation,” whether now existing or hereafter established, as
defined in Section 424(e) of the Code. 
 W. Permanent Disability shall mean the inability of
Optionee to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which is expected to result in death or to be of continuous duration of twelve (12) months or more. 

X. Plan shall mean the Corporation’s 2011 Incentive Compensation Plan, as amended and restated from
time to time. 
 Y. Plan Administrator shall mean either the Board or a committee of the Board
acting in its capacity as administrator of the Plan. 
 Z. Service shall mean the Optionee’s
performance of services for the Corporation (or any Parent or Subsidiary) in the capacity of an Employee, a non-employee member of the board of directors or a consultant or independent advisor. For purposes of this Agreement, Optionee shall be
deemed to cease Service immediately upon the occurrence of the either of the following events: (i) Optionee no longer performs services in any of the foregoing capacities for the Corporation (or any Parent or Subsidiary) or (ii) the entity
for which Optionee performs such services ceases to remain a Parent or Subsidiary of the Corporation, even though Optionee may subsequently continue to perform services for that entity. Except to the extent

 
otherwise required by law or expressly authorized by the Plan Administrator or by the Corporation’s written policy on leaves of absence in effect at the time of such leave, no Service credit
shall be given for vesting purposes for any period Optionee is on a leave of absence. 
 AA. Stock
Exchange shall mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the New York Stock Exchange. 
 BB. Subsidiary shall mean a “subsidiary corporation,” whether now existing or hereafter established, as defined in Section 424(f) of the Code. 

CC. Withholding Taxes shall mean the federal, state, local and/or foreign income taxes and the employee
portion of the federal, state, local and/or foreign employment taxes required to be withheld by the Corporation in connection with the exercise of the option or any other taxable event relating to the option. 

 GCT SEMICONDUCTOR, INC. 

FORM OF RESTRICTED STOCK UNIT ISSUANCE AGREEMENT 
 RECITALS 
 A. The Board has adopted the Plan for the
purpose of retaining the services of selected Employees and consultants and other independent advisors who provide services to the Corporation (or any Parent or Subsidiary). 

B. Participant is to render valuable services to the Corporation (or a Parent or Subsidiary), and this Agreement is
executed pursuant to, and is intended to carry out the purposes of, the Plan in connection with the Corporation’s issuance of shares of Common Stock to the Participant under the Plan. 

C. All capitalized terms in this Agreement shall have the meaning assigned to them in this Agreement or in the attached
Appendix A, as applicable. 
 NOW, THEREFORE, it is hereby agreed as follows: 

1. Grant of Restricted Stock Units. The Corporation hereby awards to the Participant, as of the Award Date,
Restricted Stock Units under the Plan. Each Restricted Stock Unit represents the right to receive one share of Common Stock on (or within a limited designated period following) the date that unit vests in accordance with the express provisions of
this Agreement. The number of shares of Common Stock subject to the awarded Restricted Stock Units, the applicable vesting schedule for those shares, the dates on which those vested shares shall become issuable to Participant and the remaining terms
and conditions governing the award (the “Award”) shall be as set forth in this Agreement. 
 AWARD SUMMARY

  

			
	 Award Date:
	  	 <Award Date>

		
	Number of Shares

Subject to Award:
	  	 <# of Shares Awarded> shares of Common Stock (the “Shares”)

		
	 Vesting Schedule:
	  	 The Shares shall vest in a series of                     
(        ) successive equal annual installments on each of the first                     
(        ) one-year anniversaries of the Award Date upon the Participant’s continuation in Service through each such annual vesting date. Such vesting schedule is hereby designated the “Normal
Vesting Schedule” for the Shares. Should any scheduled vesting date under the Normal Vesting Schedule otherwise occur on a date on which the Common Stock is not traded on the Stock Exchange serving as the primary market for the Common Stock,
then that vesting date shall instead be deemed to occur on the last day prior to such scheduled vesting date on which the Common Stock is so traded. The Shares shall also be subject to accelerated vesting, in whole or in part, in accordance with the
provisions of Paragraph 5 of this Agreement.

			
	 Issuance Schedule:
	  	 Each Share in which the Participant vests in accordance with the terms of this Agreement shall be issued, subject to the Corporation’s collection of all
applicable Withholding Taxes, on the applicable vesting date for that Share or as soon thereafter as administratively practicable, but in no event later than the close of the calendar year in which such vesting date occurs or (if later) the
fifteenth day of the third calendar month following such vesting date (the “Issuance Date”). The Shares which vest pursuant to Paragraph 5 of this Agreement shall be issued in accordance with the provisions of such Paragraph. The
applicable Withholding Taxes are to be collected pursuant to the procedures set forth in Paragraph 7 of this Agreement.

 2. Limited Transferability. Prior to actual receipt of the Shares which
vest hereunder, the Participant may not transfer any interest in the Award or the underlying Shares. Any Shares which vest hereunder but which otherwise remain unissued at the time of the Participant’s death may be transferred pursuant to the
provisions of the Participant’s will or the laws of inheritance or to the Participant’s designated beneficiary or beneficiaries of this Award. The Participant may also direct the Corporation to re-issue the stock certificates for any
Shares which in fact vest and become issuable under the Award during his or her lifetime to one or more designated family members or a trust established for the Participant and/or his or her family members. The Participant may make such a
beneficiary designation or certificate directive at any time by filing the appropriate form with the Plan Administrator or its designee. 
 3. Cessation of Service. Except as otherwise provided in Paragraph 5 below, should the Participant cease Service for any reason prior to vesting in one or more Shares subject to this Award,
then the Award will be immediately cancelled with respect to those unvested Shares, and the number of Restricted Stock Units will be reduced accordingly. The Participant shall thereupon cease to have any right or entitlement to receive any Shares
under those cancelled units. 
 4. Stockholder Rights and Dividend Equivalents. 

(a) The holder of this Award shall not have any stockholder rights, including voting or dividend rights, with respect to
the Shares subject to the Award until the Participant becomes the record holder of those Shares upon their actual issuance following the Corporation’s collection of the applicable Withholding Taxes. 

(b) Notwithstanding the foregoing, should any dividend or other distribution, whether regular or extraordinary, payable
in cash or other property (other than shares of Common Stock) be declared and paid on the outstanding Common Stock while one or more Shares remain subject to this Award (i.e., those Shares are not otherwise issued and outstanding for purposes of
entitlement to the dividend or distribution), then a special book account shall be established for the Participant and credited with a phantom dividend equivalent to the actual dividend or distribution which would have been paid on the Shares at the
time subject to this Award had they been issued and outstanding and entitled to that dividend or distribution. As the Shares subsequently vest hereunder, the phantom dividend equivalents so credited to those Shares in the book account shall also
vest, and those vested dividend 

 
equivalents shall be distributed to the Participant (in the same form the actual dividend or distribution was paid to the holders of the Common Stock entitled to that dividend or distribution or
in such other form as the Plan Administrator deems appropriate in its sole discretion) concurrently with the issuance of the vested Shares to which those phantom dividend equivalents relate. However, each such distribution shall be subject to the
Corporation’s collection of the Withholding Taxes applicable to that distribution. In no event shall any such phantom dividend equivalents vest or become distributable unless the Shares to which they relate vest in accordance with the terms of
this Agreement. 
 5. Change in Control. 

(a) Any Restricted Stock Units subject to this Award at the time of a Change in Control may be assumed by the successor
entity (or parent thereof) or otherwise continued in full force and effect or may be replaced with a cash retention program of the successor entity (or parent thereof) which preserves the Fair Market Value of the unvested shares of Common Stock
subject to the Award at the time of the Change in Control and provides for the subsequent vesting and concurrent payout of that value in accordance with the same vesting and issuance schedule that would otherwise be in effect for those shares in the
absence of such Change in Control. In the event of such assumption or continuation of the Award or such replacement of the Award with a cash retention program, no accelerated vesting of the Restricted Stock Units shall occur at the time of the
Change in Control. 
 (b) In the event the Award is assumed or otherwise continued in effect, the Restricted
Stock Units subject to the Award shall be adjusted immediately after the consummation of the Change in Control so as to apply to the number and class of securities into which the Shares subject to those units immediately prior to the Change in
Control would have been converted in consummation of that Change in Control had those Shares actually been issued and outstanding at that time. To the extent the actual holders of the outstanding Common Stock receive cash consideration for their
Common Stock in consummation of the Change in Control, the successor entity (or parent thereof) may, in connection with the assumption or continuation of the Restricted Stock Units subject to the Award at that time, but subject to the Plan
Administrator’s approval prior to the Change in Control, substitute one or more shares of its own common stock with a fair market value equivalent to the cash consideration paid per share of Common Stock in the Change in Control transaction,
provided the substituted common stock is readily tradable on an established U.S. securities exchange. 
 (c) If
the Restricted Stock Units subject to this Award at the time of the Change in Control are not assumed or otherwise continued in effect or replaced with a cash retention program in accordance with Paragraph 5(a), then those units shall vest
immediately prior to the closing of the Change in Control. The Shares subject to those vested units shall be converted into the right to receive for each such Share the same consideration per share of Common Stock payable to the other stockholders
of the Corporation in consummation of that Change in Control, and such consideration shall be distributed to Participant on the effective date of such Change in Control or as soon as administratively practicable thereafter, but such distribution to
Participant shall in all events be completed no later than the later of (i) the close 

 
of the calendar year in which such Change in Control is effected or (ii) the fifteenth (15th) of the third (3rd) calendar month following the effective date of that Change in
Control. Such distribution ion shall be subject to the Corporation’s collection of the applicable Withholding Taxes pursuant to the provisions of Paragraph 7. 

(d) This Agreement shall not in any way affect the right of the Corporation to adjust, reclassify, reorganize or
otherwise change its capital or business structure or to merge, consolidate, dissolve, liquidate or sell or transfer all or any part of its business or assets. 
 6. Adjustment in Shares. Should any change be made to the Common Stock by reason of any stock split, stock dividend, recapitalization, combination of shares, exchange of shares, spin-off
transaction or other change affecting the outstanding Common Stock as a class without the Corporation’s receipt of consideration, or should the value of the outstanding shares of Common Stock be substantially reduced as a result of a spin-off
transaction or an extraordinary dividend or distribution, or should there occur any merger, consolidation or other reorganization, then equitable and proportional adjustments shall be made by the Plan Administrator to the total number and/or class
of securities issuable pursuant to this Award. The adjustments shall be made in such manner as the Plan Administrator deems appropriate, and in making such equitable and proportional adjustments, the Plan Administrator shall take into account any
amounts to be credited to Participant’s book account under Paragraph 4(b) in connection with the transaction. The determination of the Plan Administrator shall be final, binding and conclusive. In the event of a Change in Control, the
provisions of Paragraph 5 shall be controlling. 
 7. Issuance of Shares of Common Stock.

 (a) On each applicable Issuance Date for the Shares which vest in accordance with the provisions of this
Agreement, the Corporation shall issue to or on behalf of the Participant a certificate (which may be in electronic form) for the vested shares of Common Stock to be issued on such date, subject to the Corporation’s collection of the applicable
Withholding Taxes. 
 (b) Until such time as the Corporation provides the Participant with notice to the
contrary, the Corporation shall collect the applicable Withholding Taxes through an automatic Share withholding procedure pursuant to which the Corporation will withhold, on the applicable Issuance Date for the Shares that vest under the Award, a
portion of those vested Shares with a Fair Market Value (measured as of the applicable tax date for such Shares) equal to the amount of such Withholding Taxes (the “Share Withholding Method”); provided, however, that the
amount of any Shares so withheld shall not exceed the amount necessary to satisfy the Corporation’s required tax withholding obligations using the minimum statutory withholding rates for federal and state tax purposes, including payroll taxes,
that are applicable to supplemental taxable income. Participant shall be notified in writing in the event such Share Withholding Method is no longer available. 

 (c) Should any Shares vest under the Award when the Share Withholding
Method is not available, then the Withholding Taxes shall be collected from the Participant through either of the following alternatives: 
  

	 	•	 	 the Participant’s delivery of his or her separate check payable to the Corporation in the amount of such Withholding Taxes, or

  

	 	•	 	 the use of the proceeds from a next-day sale of the Shares issued to the Participant, provided and only if (i) such a sale is permissible under
the Corporation’s trading policies governing the sale of Common Stock, (ii) the Participant makes an irrevocable commitment, on or before the vesting date for those Shares, to effect such sale of the Shares and (iii) the transaction
is not otherwise deemed to constitute a prohibited loan under Section 402 of the Sarbanes-Oxley Act of 2002. 

 (d) The Corporation shall concurrently, with each issuance of vested Shares in accordance with the foregoing provisions of this Paragraph 7, distribute to the Participant any outstanding phantom dividend
equivalents credited with respect to those Shares. The Corporation shall collect the Withholding Taxes with respect to each distribution of phantom dividend equivalents by withholding a portion of that distribution equal to the amount of the
applicable Withholding Taxes, with the cash portion of the distribution to be the first portion so withheld, or through such other tax withholding arrangement as the Corporation deems appropriate. 

(e) Except as otherwise provided in Paragraph 5 or Paragraph 7(b), the settlement of all Restricted Stock Units which
vest under the Award shall be made solely in shares of Common Stock. No fractional share of Common Stock shall be issued pursuant to this Award, and any fractional share resulting from any calculation made in accordance with the terms of this
Agreement shall be rounded down to the next whole share of Common Stock. 
 8. Compliance with Laws and
Regulations. The issuance of shares of Common Stock pursuant to the Award shall be subject to compliance by the Corporation and Participant with all applicable requirements of law relating thereto and with all applicable regulations of each
Stock Exchange on which the Common Stock is listed for trading at the time of such issuance. 
 9.
Notices. Any notice required to be given or delivered to the Corporation under the terms of this Agreement shall be in writing and addressed to the Corporation at its principal corporate offices. Any notice required to be given or
delivered to Participant shall be in writing and addressed to Participant at the most current address then indicated for Participant on the Corporation’s employee records or delivered electronically to Participant through the
Corporation’s electronic mail system. All notices shall be deemed effective upon personal delivery or delivery through the Corporation’s electronic mail system or upon deposit in the U.S. mail, postage prepaid and properly addressed
to the party to be notified. 
 10. Successors and Assigns. Except to the extent otherwise
provided in this Agreement, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the Corporation and its successors and assigns and Participant, Participant’s assigns, the legal

 
representatives, heirs and legatees of Participant’s estate and any beneficiaries of the Award designated by Participant. 

11. Construction. This Agreement and the Award evidenced hereby are made and granted pursuant to the Plan
and are in all respects limited by and subject to the terms of the Plan. In the event of any conflict between the provisions of this Agreement and the terms of the Plan, the terms of the Plan shall be controlling. All decisions of the Plan
Administrator with respect to any question or issue arising under the Plan or this Agreement shall be conclusive and binding on all persons having an interest in the Award. 

12. Governing Law. The interpretation, performance and enforcement of this Agreement shall be governed by
the laws of the State of California without resort to that State’s conflict-of-laws rules. 
 13.
Employment at Will. Nothing in this Agreement or in the Plan shall confer upon Participant any right to continue in Service for any period of specific duration or interfere with or otherwise restrict in any way the rights of the
Corporation (or any Parent or Subsidiary employing or retaining Participant) or of Participant, which rights are hereby expressly reserved by each, to terminate Participant’s Service at any time for any reason, with or without cause.

 14. Code Section 409A. It is the intention of the parties that the provisions of this
Agreement comply with the requirements of the short-term deferral exception of Section 409A of the Code and Treasury Regulations Section 1.409A-1(b)(4). Accordingly, to the extent there is any ambiguity as to whether one or more provisions
of this Agreement would otherwise contravene the requirements or limitations of Code Section 409A applicable to such short-term deferral exception, then those provisions shall be interpreted and applied in a manner that does not result in a
violation of the requirements or limitations of Code Section 409A and the Treasury Regulations thereunder that apply to such exception. 
 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year first indicated above. 

 

	
	 GCT SEMICONDUCTOR, INC.

 

	 By: Dr. Kyeongho Lee

 

	 Title: President and Chief Executive Officer

	  
 PARTICIPANT

 

	 Name:

	  
 Signature:

 APPENDIX A  

DEFINITIONS 
 The following definitions shall be in effect under the Agreement: 

A. Agreement shall mean this Restricted Stock Unit Issuance Agreement. 

B. Award shall mean the award of restricted stock units made to the Participant pursuant to the terms of
this Agreement. 
 C. Award Date shall mean the date the restricted stock units are awarded to
Participant pursuant to the Agreement and shall be the date indicated in Paragraph 1 of the Agreement. 
 D.
Board shall mean the Corporation’s Board of Directors. 
 E. Change in Control
shall mean a change in ownership or control of the Corporation effected through any of the following transactions: 
 (i) the closing of a merger, consolidation or other reorganization approved by the Corporation’s stockholders in which a change in ownership or control of the Corporation is effected through the
acquisition by any person or group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that, prior to such transaction, directly or indirectly controls, is
controlled by or is under common control with, the Corporation) of beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the
Corporation’s outstanding securities (as measured in terms of the power to vote with respect to the election of Board members), 
 (ii) the closing of a sale, transfer or other disposition of all or substantially all of the Corporation’s assets, 

(iii) the closing of any transaction or series of related transactions pursuant to which any person or any
group of persons comprising a “group” within the meaning of Rule 13d-5(b)(1) of the 1934 Act (other than the Corporation or a person that, prior to such transaction or series of related transactions, directly or indirectly controls, is
controlled by or is under common control with, the Corporation) acquires directly or indirectly (whether as a result of a single acquisition or by reason of one or more acquisitions within the twelve (12)-month period ending with the most recent
acquisition) beneficial ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities possessing more than fifty percent (50%) of the total combined voting power of the Corporation’s securities (as measured in terms of the
power to vote with respect to the election of Board members) outstanding immediately after the consummation of such 

 
transaction or series of related transactions, whether such transaction involves a direct issuance from the Corporation or the acquisition of outstanding securities held by one or more of the
Corporation’s existing stockholders, 
 (iv) a change in the composition of the Board over a
period of twelve (12) consecutive months or less such that a majority of the Board members ceases by reason of one or more contested elections for Board membership to be comprised of individuals who either (A) have been Board members
continuously since the beginning of such period or (B) have been elected or nominated for election as Board members during such period by at least a majority of the Board members described in clause (A) who were still in office at the time
the Board approved such election or nomination. 
 F. Code shall mean the Internal Revenue Code of
1986, as amended. 
 G. Common Stock shall mean shares of the Corporation’s common stock.

 H. Corporation shall mean GCT Semiconductor, Inc., a Delaware corporation, and any successor
entity to all or substantially all of the assets or voting stock of GCT Semiconductor, Inc. which shall by appropriate action adopt the Plan. 
 I. Employee shall mean an individual who is in the employ of the Corporation (or any Parent or Subsidiary), subject to the control and direction of the employer entity as to both the work to
be performed and the manner and method of performance. 
 J. Fair Market Value per share of Common
Stock on any relevant date shall be the closing price per share of Common Stock at the close of regular trading hours (i.e., before after-hours trading begins) on the date in question on the Stock Exchange serving as the primary market for the
Common Stock, as such price is reported by the National Association of Securities Dealers (if primarily traded on the Nasdaq Global or Global Select Market) or as officially quoted in the composite tape of transactions on any other Stock Exchange on
which the Common Stock is then primarily traded. If there is no closing selling price for the Common Stock on the date in question, then the Fair Market Value shall be the closing selling price on the last preceding date for which such quotation
exists. 
 K. 1934 Act shall mean the Securities Exchange Act of 1934, as amended from time to
time. 
 L. Participant shall mean the person to whom the Award is made pursuant to the
Agreement. 
 M. Parent shall mean any corporation (other than the Corporation) in an unbroken
chain of corporations ending with the Corporation, provided each corporation in the unbroken chain (other than the Corporation) owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting
power of all classes of stock in one of the other corporations in such chain. 

 N. Plan shall mean the Corporation’s 2011 Incentive
Compensation Plan, as amended and restated from time to time. 
 O. Plan Administrator shall mean
either the Board or a committee of the Board acting in its capacity as administrator of the Plan. 
 P.
Service shall mean the Participant’s performance of services for the Corporation (or any Parent or Subsidiary) in the capacity of an Employee, a non-employee member of the board of directors or a consultant or independent advisor.
For purposes of this Agreement, Participant shall be deemed to cease Service immediately upon the occurrence of the either of the following events: (i) Participant no longer performs services in any of the foregoing capacities for the
Corporation (or any Parent or Subsidiary) or (ii) the entity for which Participant performs such services ceases to remain a Parent or Subsidiary of the Corporation, even though Participant may subsequently continue to perform services for that
entity. Except to the extent otherwise required by law or expressly authorized by the Plan Administrator or by the Corporation’s written policy on leaves of absence in effect at the time of such leave, no Service credit shall be given for
vesting purposes for any period the Participant is on a leave of absence. 
 Q. Stock Exchange
shall mean the American Stock Exchange, the Nasdaq Global or Global Select Market or the New York Stock Exchange. 
 R. Subsidiary shall mean any corporation (other than the Corporation) in an unbroken chain of corporations beginning with the Corporation, provided each corporation (other than the last
corporation) in the unbroken chain owns, at the time of the determination, stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

S. Withholding Taxes shall mean the federal, state, local and/or foreign income taxes and the employee
portion of the federal, state, local and/or foreign employment taxes required to be withheld by the Corporation in connection with the vesting of the Shares, the issuance of the Shares, the payment of the phantom dividend equivalents or any other
taxable event relating to the Award.

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