Document:

Lock-Up and Standstill Agreement., btw Exar Corp and Rodfre Holdings LLC

 Exhibit 10.3 
 May 7, 2007 
 Exar Corporation 
 48720 Kato Road

 Fremont, California 94538 
 Ladies and Gentlemen: 

The undersigned (the “Stockholder”) is the owner of record or beneficially of certain shares of common stock, par value $0.01 per
share, of Sipex Corporation (“Sipex Shares”) or securities convertible into or exchangeable or exercisable for Sipex Shares. This Lock-Up and Standstill Agreement (this “Agreement”) is being executed in connection
with the Agreement and Plan of Merger of even date herewith (the “Merger Agreement”), by and among Exar Corporation, a Delaware corporation (“Exar”), Sipex Acquisition Corp., a Delaware corporation wholly owned subsidiary
of Exar (“Merger Sub”), and Sipex Corporation, a Delaware corporation (“Sipex”), pursuant to which Merger Sub will be merged with and into Sipex (the “Merger”) with Sipex surviving the Merger as a
wholly owned Subsidiary of Exar. Capitalized terms used herein and not otherwise defined shall have the respective meanings assigned to them in the Merger Agreement. 
 At the Effective Time, (i) each Sipex Share owned by the Stockholder as of the Effective Time shall automatically be converted into the right to receive a portion of a share of Exar Common Stock based on the
Exchange Ratio and (ii) except for Notes, which shall be converted as per Section 8 below, each option or other convertible or exercisable security entitling the holder thereof to acquire Sipex Shares (the “Sipex Derivative
Securities”) outstanding as of the Effective Time will be converted into an option or other security to acquire shares of Exar Common Stock at a price and in an amount based on the Exchange Ratio (the “Exar Derivative
Securities”). 
 The Stockholder recognizes that the Merger and the other transactions contemplated by the Merger Agreement will be
of benefit to the Stockholder and all holders of Sipex Shares and Sipex Derivative Securities. The Stockholder acknowledges that Exar is relying on the representations and agreements of the Stockholder contained in this Agreement in entering into
the Merger Agreement and consummating the transactions contemplated thereby. The Stockholder further understands that this Agreement is coupled with an interest and is irrevocable and shall be binding upon the Stockholder’s heirs, legal
representatives, successors and assigns. 
 In connection with the Merger Agreement and the transactions contemplated thereby, in order to
induce Exar to enter into the Merger Agreement and to proceed with the Merger, and in consideration of the foregoing, the Stockholder and Exar agree to the following: 

 1. Lock-Up. Subject to the exceptions set forth in Sections 2 and 3 hereof, without the
prior written consent of Exar, during the period commencing on the Closing Date and ending on the date that is the twelve-month anniversary of the Effective Time of the Merger (the “Lock-Up Period”), the Stockholder will not:
(a) directly or indirectly, sell, offer, contract or grant any option to sell (including without limitation any short sale), pledge, transfer, establish an open “put equivalent position” within the meaning of Rule 16a-1(h) under the
Exchange Act or otherwise dispose of (i) any shares of Exar Common Stock, (ii) any Exar Derivative Securities, or (iii) any shares of Exar Common Stock issuable upon exercise, exchange or conversion of Exar Derivative Securities ((i),
(ii) and (iii) are collectively referred to herein as the “Exar Securities”), in each case received or to be received by the Stockholder in the Merger or acquired before or after the Effective Time, and owned either of
record or beneficially (as defined in Rule 13d-3 under the Exchange Act) by the Stockholder, (b) publicly announce an intention to do any of the foregoing, or (c) enter into any swap or other agreement or any transaction that transfers, in
whole or in part, directly or indirectly, the economic consequences of ownership of any Exar Securities owned either of record or beneficially (as defined in Rule 13-d under the Exchange Act) by the Stockholder, whether any such swap or transaction
is to be settled by delivery of Exar Securities or other securities, in cash or otherwise (each of (a), (b) and (c), individually or collectively, is referred to herein as a “Disposition”). 
 2. Exceptions to Restriction on Disposition. Notwithstanding the foregoing Section 1, (a) the Stockholder may transfer Exar
Securities to any wholly-owned subsidiary of the Stockholder or to a parent corporation owning 100% of the Stockholder or to entity that is wholly-owned by the same entity that wholly owns the Stockholder; provided, however, that in any such
case, it shall be a condition to the transfer that the transferee execute an agreement for the benefit of Exar (which shall be an express third party beneficiary thereof) stating that the transferee is receiving and holding such Exar Securities
subject to the provisions of this Agreement and there shall be no further transfer of such Exar Securities except in accordance with this Agreement; and (b) the Stockholder may make Dispositions of Exar Securities in compliance with
Section 3 hereof; and (c) the Stockholder may exchange Exar Securities for the consideration payable to holders of such Exar Securities pursuant to a merger, consolidation, tender offer, exchange offer or similar business
combination transaction involving Exar in which securities of Exar are converted into the right to receive consideration (an “Exar Sale Transaction”) which Exar Sale Transaction is approved by the Exar Board of Directors.

 3. Sale Limitations. During the Lock-Up Period, and notwithstanding the restrictions set forth in Section 1, the
Stockholder shall have the right to Dispose of Exar Securities if the amount of Exar Securities so Disposed of by the Stockholder, together with the amount of any other Exar Securities Disposed of by the Stockholder within the applicable one of the
following four (4) consecutive three (3)-month periods: (i) the three (3)-month period commencing on the Effective Time of the Merger, and ending three (3)-months thereafter; (ii) the three (3)-month period commencing on the day
immediately following the end of the three (3)-month period referred to in (i), and ending three months thereafter; (iii) the three (3)-month period commencing on the day immediately following the end of the three (3)-month period referred to
in (ii), and ending three months thereafter; and (iv) the three (3)-month period commencing on the day immediately following the end of the three (3)-month period referred to in (iii), and ending three months thereafter, does not exceed 500,000
Exar Securities as adjusted, for stock splits, stock dividends, combinations and the like (the “Cap”). To the extent that the 

 
aggregate Dispositions of Exar Securities by the Stockholder during any of the foregoing three (3)-month periods in the Lock-Up Period are equal to less than
500,000 Exar Securities plus, as the case may be, any carried-over allotment from preceding three (3)-month periods (such difference, the “Shortfall”), the Cap for the subsequent three (3)-month period shall be increased to an
amount equal to the sum of 500,000 Exar Securities plus the Shortfall. 
 4. Stop Transfer. The Stockholder agrees and consents to the
entry of stop transfer instructions with Exar’s transfer agent and registrar against the transfer of the Exar Securities except in compliance with the restrictions set forth in Sections 1, 2 and 3 hereof. 
 5. Standstill. The Stockholder shall not, nor shall any of its directors, officers, employees, agents, advisors or other representatives
(“Representatives”) on its behalf, without the prior written consent of Exar or its Board of Directors (or a duly empowered committee thereof): 
 (a) during the Lock-Up Period: 
 (1) acquire, offer to acquire, or agree to acquire, directly or indirectly, by purchase or otherwise, any voting securities or direct or indirect rights to acquire any voting securities of Exar or any Subsidiary
thereof, or of any successor to or person in control of Exar, or any assets (other than assets in the ordinary course of business) of Exar or any Subsidiary or division thereof or of any such successor or controlling person; provided,
however, that the Stockholder may acquire voting securities of Exar, or any Subsidiary thereof, or of any successor to or person in control of Exar so long as its aggregate beneficial ownership of Exar, such Subsidiary or such Person does not at
any time during the Lock-Up Period exceed 19% of the Exar voting securities (on a fully diluted basis assuming conversion or exercise of all outstanding Exar Derivative Securities); or 
 (2) or request Exar or any of its Representatives, directly or indirectly, to amend or waive any provision of this
Section 5(a); and 
 (b) during the period commencing on the Closing Date and ending on the date that is the two
(2)-year anniversary of the Effective Time of the Merger: 
 (1) subject to the Stockholder’s right to designate a
representative for nomination by the Board of Directors for election as a director pursuant to Section 7(b) below, nominate any person to the Board of Directors of Exar; 
 (2) call or attempt to call a special meeting of the stockholder of Exar; 
 (3) make, or in any way participate, directly or indirectly, in any “solicitation” of “proxies” to vote (as such
terms are used in the rules of the SEC), or seek to advise or influence any person or entity with respect to the voting of any voting securities of Exar (including, without limitation, making any public statement in favor or support of any proposal
not approved by the Board of Directors of Exar); 

 (4) make any public announcement with respect to, or submit a proposal for, or offer of
(with or without conditions) any extraordinary transaction (including a tender offer) involving Exar or any of its securities or assets; 
 (5) form, join or in any way participate in a “group” as defined in Section 13(d)(3) of the Exchange Act, in connection with any of the foregoing; 
 (6) request Exar or any of its Representatives, directly or indirectly, to amend or waive any provision of this
Section 5(b). 
 6. Exceptions to Standstill. Notwithstanding the foregoing Section 5, nothing in this
Agreement shall restrict the ability of any member of the Exar Board of Directors who is affiliated with the Stockholder from performing his or her duties as a director of Exar and acting in his or her capacity as a director of Exar, including,
without limitation, carrying out his or her fiduciary duties to the stockholders of Exar. 
 7. Others Agreements. During the period
commencing on the Closing Date and ending on the date that is the two (2)-year anniversary of the Effective Time of the Merger: 
 (a) in the event that a meeting of the stockholders of Exar is held (and at every adjournment or postponement thereof), the Stockholder shall, or shall cause the holder of record on the applicable record date to, appear at such meeting or
otherwise cause its shares of Exar Common Stock to be counted as present thereat for purposes of establishing a quorum. 
 (b) for so long as the Stockholder owns at least 5% of the Exar voting securities (on a fully diluted basis assuming conversion or exercise of all outstanding Exar Derivative Securities), the Stockholder shall be entitled to designate one
(1) individual for nomination by the Board of Directors for election to the Board of Directors of Exar, which nominee shall be reasonably acceptable to the Nominating Committee of the Board of Directors of Exar and which nominee shall initially
be the affiliate of the Stockholder identified on Schedule 5.15(a) to the Merger Agreement (who shall be appointed to the Board of Directors of Exar as of the Effective Time of the Merger pursuant to Section 5.15(a) of the Merger
Agreement). 
 8. Conversion of Notes. The Stockholder hereby covenants and agrees to exercise its right to convert all outstanding
Sipex Notes held by it for shares of Sipex Common Stock, with such conversion to be effective immediately prior to the Effective Time of the Merger. The Stockholder agrees to duly execute and delivere the irrevocable notice of conversion attached as
Exhibit A with respect to the conversion of the Sipex Notes as described above in this Section 8, and further covenants not to attempt to revoke such notice or otherwise change its election to so convert; provided that if
the Merger Agreement is validly terminated prior to the Effective Time, then such notices may be revoked by the Stockholder. For the purpose of clarity, the $15,000,000 Sipex Note held by the Stockholder shall be convertible into 2,795,508 shares of
Sipex Common Stock, which shall themselves be convertible into shares of the Exar Common Stock of, at the Exchange Ratio. 

 9. Registration Statement. Exar shall, at its expense, file promptly after the Effective Time a
registration statement on Form S-3 (the “Registration Statement”) under the Securities Act covering the resale by the Stockholder of the shares of Exar Common Stock received by it in exchange for shares of Sipex Common Stock in the
Merger (including share of Exar Common Stock issuable in exchange for shares of Sipex Common Stock received upon exercise of the Stockholder’s conversion of its Sipex Notes pursuant to Section 8 hereof); and shall use its
commercially reasonable efforts to cause such Registration Statement to become effective as soon as practicable after the Effective Time and to keep such Registration Statement effective until the fifteen (15) month anniversary of the Effective
Time, subject to Exar’s right to suspend effectiveness to the extent required by applicable Legal Requirements. Nothing in this Section 9, including the effectiveness of the Registration Statement, shall relieve the Stockholder from
its obligations and restrictions pursuant to this Agreement, including the restrictions set forth in Section 1 and Section 3. 
 10. Consents. The Stockholder hereby agrees that to the extent Sipex issues any 9% Unsecured Junior Notes with Convertible Interest due June 20, 2008 (the “Rodfre Notes”) to the
Stockholder pursuant to the Securities Purchase Agreement dated as of March 29, 2007, the Stockholder hereby consents to the proposed change of control as a result of the Merger pursuant to the Rodfre Notes and reserves all other rights under
the Rodfre Notes that may arise as a result of the Merger. 
 11. Representations and Warranties. The Stockholder represents and
warrants to Exar that: 
 (a) the execution, delivery and performance of this Agreement by the Stockholder does not, and the
consummation by the Stockholder of the transactions contemplated hereby will not, result in a violation or breach of, or constitute (with or without due notice or lapse of time or both) a default (or give rise to any right of termination,
cancellation, modification or acceleration) (whether after the giving of notice of or the passage of time or both) under any Contract to which the Stockholder is a party or which is binding on it, him or her or its, his or her assets and will not
result in the creation of any Encumbrance on any of the assets or properties of the Stockholder (other than the Shares); 
 (b) this Agreement has been duly executed by the Stockholder and constitutes the valid and legally binding obligation of the Stockholder, enforceable against the Stockholder in accordance with its terms, except as enforceability may be
limited by bankruptcy and other similar laws and general principles of equity; 
 (c) other than filings under the Exchange
Act, no notices, reports or other filings are required to be made by the Stockholder with, nor are any consents, registrations, approvals, permits or authorizations required to be obtained by the Stockholder from, any Governmental Entity or any
other Person, in connection with the execution and delivery of this Agreement by the Stockholder and 

 (d) other than the Sipex Notes, the Stockholder does not hold any warrants or other
securities convertible into or exercisable for shares of Sipex Common Stock. 
 12. Condition to Effectiveness. Notwithstanding
anything in this Agreement to the contrary, this Agreement shall not be effective until the Effective Time In the event the Merger Agreement is terminated in accordance with its terms, this Agreement shall also terminate. 
 13. Miscellaneous. 
 (a) Waiver. No waiver by any party hereto of any condition or any breach of any term or provision set forth in this Agreement shall be effective unless in writing and signed by the party waiving such condition or breach. The waiver
of a condition or any breach of any term or provision of this Agreement shall not operate as or be construed to be a waiver of any other previous or subsequent breach of any term or provision of this Agreement. Any such waiver shall not be
applicable or have any effect except in the specific instance in which it is given. 
 (b) Severability. In the event
that any provision of this Agreement or the application thereof, becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the
application of such provision to other Persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto. The parties further agree to replace such void or unenforceable provision of this Agreement with a valid
and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such void or unenforceable provision. 
 (c) Binding Effect; Assignment. The Stockholder may not assign this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of Exar, and any attempted assignment
without such prior written approval shall be void. Subject to the preceding sentence, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns. 
 (d) Amendments. This Agreement may not be modified, amended, altered or supplemented, except upon the execution and delivery of a
written agreement executed by each of the parties hereto. 
 (e) Specific Performance; Injunctive Relief. Except as
otherwise provided herein, any and all remedies herein expressly conferred upon a party will be deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party, and the exercise by a party of any
one remedy will not preclude the exercise of any other remedy. The parties hereto agree that irreparable damage would occur to either party in the event that any of the provisions of this Agreement were not performed by the other party in accordance
with their specific terms or were otherwise breached. It is accordingly agreed that either party shall be entitled to seek an injunction or injunctions to prevent breaches of this Agreement by the other party 

 and to enforce specifically the terms and provisions hereof in any court of the United States or any
state having jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity. 
 (f)
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of law thereof. 
 (g) Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF EXAR OR THE STOCKHOLDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF. 
 (h) Entire Agreement. This Agreement (a) constitutes the entire agreement among the parties with respect to the subject
matter hereof and supersede all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof, and (b) is not intended to confer upon any other Person any rights or remedies hereunder.

 (i) Notices. All notices and other communications pursuant to this Agreement shall be in writing and deemed to be
sufficient if contained in a written instrument and shall be deemed given if delivered personally, telecopied, sent by nationally-recognized overnight courier or mailed by registered or certified mail (return receipt requested), postage prepaid, to
the respective parties at the following address (or at such other address for a party as shall be specified by like notice): 
 if to Exar, to: 
 Exar Corporation 
 48720 Kato Road 
 Fremont, CA 94538 
 Attention: Thomas Melendrez 
 Fax No.: (510) 668-7002 
 with copies to 
 O’Melveny & Myers LLP 
 with copies to 
 O’Melveny & Myers LLP 
 2765 Sand Hill Road 
 Menlo Park, CA 94025 
 Attention: Warren Lazarow/Steve Sonne 
 Fax No.: (650) 473-2601 

 If to the Stockholder: 
 c/o Future Electronics Inc. 
 237 Hymus Boulevard 
 Pointe Claire QC H9R 5C7 
 Attention : Guy Lavergne, Esq. 
 Associate General Counsel 
 Fax No. : (514) 694-7515 
 (j) Headings. The section headings set forth in this Agreement are for convenience of reference only and shall not affect the
construction or interpretation of this Agreement in any manner. 
 (k) Counterparts. This Agreement may be executed in
one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, it being understood that all
parties need not sign the same counterpart. 
 (l) Rules of Construction. The parties hereto agree that they have been
represented by counsel during the negotiation and execution of this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other document will be
construed against the party drafting such agreement or document. 
 (m) Expenses. All costs and expenses incurred in
connection with this Agreement shall be paid by the party incurring such cost or expense. 

 The parties hereto have executed and delivered this Lock-Up and Standstill Agreement as of the date first
written above. 
  

			
	 EXAR CORPORATION

		
	 By:
	 	 /s/ Richard Leza

		 	 Name: Richard Leza

		 	Title: Acting Chief Executive Officer
	
	 RODFRE HOLDINGS LLC

		
	 By:
	 	 /s/ Joe Prudente

		 	 Name: Joe Prudente

		 	 Address: 41 Main St., Bolton, Mass 01740
                 For Rodfre Holdings LLC

		
		 	 Facsimile:

 Exhibit A 
 FORM OF NOTE CONVERSION NOTICE 
 Sipex Corporation 
 233 South Hillview Drive 
 Milpitas, California 95035 
 Attention: Chief Financial Officer 
 Wells Fargo Bank, National Association 
 707 Wilshire Blvd, 17th Floor 
 Los Angeles, CA 90017 
 Attention: Corporate Trust Services 
 Fax: (213) 614-3355 
 Pursuant to the Agreement and Plan of Merger dated as of May 7, 2007 (the “Merger Agreement”) by and among Sipex Corporation
(“Sipex”), Exar Corporation (“Exar”) and Side Acquisition Corp., a wholly owned subsidiary of Exar, Side Acquisition Corp. will be merged with and into Sipex (the “Merger”) with Sipex surviving as a wholly owned
Subsidiary of Exar. The undersigned hereby irrevocably agrees to exercise the option to convert the attached Note (the “Note”) into shares of common stock of Sipex in accordance with the terms of the Indenture referred to in the Note, with
such conversion to be effective immediately prior to the effective time of the Merger, and directs that the shares issuable and deliverable upon such conversion, together with any check in payment for fractional shares, be issued and delivered to
the registered holder hereof. Any amount required to be paid by the undersigned on account of interest accompanies the Note. 
 [SIGNATURES
ON NEXT PAGE] 
  

 If you want the shares issuable on conversion of the Note credited to your balance account with The
Depositary Trust Company through its Deposit Withdrawal At Custodian system, check the box:  ̈ 
  

			
	Dated: May     , 2007	 	
		
		 	  

		
		 	  

		
		 	 Signature(s)

		
	  
	 	
		
	 Signature Guarantee
	 	
	
	 Signature(s) must be guaranteed by an eligible Guarantor Institution (banks, stock brokers, savings and loan associations and credit unions) with
membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15 if shares of Common Stock are to be issued, or Notes to be delivered, other than to and in the name of the registered
holder.

  
 [SIGNATURE PAGE TO
CONVERSION NOTICE]Employment Agreement, by and btw Exar Corp and Ralph Schmitt

 Exhibit 10.4 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made
and entered into this 7th day of May 2007, by and between Exar Corporation, a Delaware corporation (the “Company”), and Ralph Schmitt, an individual (the “Executive”). 
 RECITALS 
 THE PARTIES ENTER THIS AGREEMENT on
the basis of the following facts, understandings and intentions: 
 A. The Company, Sipex Corporation and a wholly-owned subsidiary of
the Company have entered into an Agreement and Plan of Merger dated as of the date hereof (the “Merger Agreement”) whereby, subject to the terms and conditions thereof, such subsidiary will be merged with and into Sipex Corporation
and Sipex Corporation will become a wholly-owned subsidiary of the Company (the “Merger”). 
 B. The Company desires
that the Executive be employed by the Company to carry out the duties and responsibilities described below, all on the terms and conditions hereinafter set forth, effective as of the Effective Time (as defined in the Merger Agreement) of the Merger
(the “Effective Date”). 
 C. The Executive desires to accept such employment on such terms and conditions.

 D. This Agreement shall govern the employment relationship between the Executive and the Company from and after the Effective Date
and supersedes and negates all previous agreements with respect to such relationship. 
 NOW, THEREFORE, in consideration of the above
recitals incorporated herein and the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby expressly acknowledged, the parties agree as follows: 
  

	1.	Retention and Duties. 

  

	 	1.1	Retention. As of the Effective Date, the Company does hereby hire, engage and employ the Executive for the Period of Employment (as defined in Section 2) on the
terms and conditions expressly set forth in this Agreement. As of the Effective Date, the Executive does hereby accept and agree to such hiring, engagement and employment, on the terms and conditions expressly set forth in this Agreement. If the
Merger Agreement terminates prior to the Effective Time such that the Merger does not occur, this Agreement shall automatically terminate and be of no further force or effect. 

  

	 	1.2	 Duties. During the Period of Employment, the Executive shall serve the Company as its President and Chief Executive Officer and shall have the powers,
duties and obligations of management usually vested in the office of the chief executive officer of a corporation, subject to the directives of the Company’s 

  

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Board of Directors (the “Board”) and the corporate policies of the Company as they are in effect from time to time throughout the Period of
Employment (including, without limitation, the Company’s employee handbook, personnel policies, and business conduct and ethics policies, as they may change from time to time). The Executive will be appointed to the Board as of the Effective
Date and may serve as a member of the board of directors of one or more of the Company’s subsidiaries or affiliates (and this Agreement shall provide the exclusive compensation for all such services). During the Period of Employment, the
Executive shall report solely to the Board. 

  

	 	1.3	No Other Employment; Minimum Time Commitment. During the Period of Employment, the Executive shall both (i) devote substantially all of the Executive’s
business time, energy and skill to the performance of the Executive’s duties for the Company, and (ii) hold no other employment. The Executive’s service on the boards of directors (or similar body) of other business entities, or the
provision of other services thereto, is subject to the prior written approval of the Board, which may not be unreasonably withheld. The Company shall have the right to require the Executive to resign from any board or similar body on which he may
then serve if the Board determines that the Executive’s service on such board or body interferes with the effective discharge of the Executive’s duties and responsibilities to the Company or that any business related to such service is
then in competition with any business of the Company or any of its affiliates, successors or assigns. Nothing in this Section 1.3 shall be construed as preventing Executive from engaging in the investment of his personal assets.

  

	 	1.4	No Breach of Contract. The Executive hereby represents to the Company that: (i) the execution and delivery of this Agreement by the Executive and the Company and
the performance by the Executive of the Executive’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any other agreement or policy to which the Executive is a party or otherwise bound; (ii) the
Executive has no information (including, without limitation, confidential information and trade secrets) relating to any other person or entity which would prevent, or be violated by, the Executive entering into this Agreement or carrying out his
duties hereunder; (iii) that, except as set forth on Exhibit A hereto, the Executive is not bound by any confidentiality, trade secret or similar agreement with any other person or entity. 

  

	 	1.5	Location. The Executive acknowledges that the Company’s principal executive offices are currently located in Fremont, California. The Executive’s principal
place of employment shall be the Company’s principal executive offices. The Executive agrees that he will be regularly present at the Company’s principal executive offices. The Executive acknowledges that he may be required to travel from
time to time in the course of performing his duties for the Company. 

  

	2.	 Period of Employment. The “Period of Employment” shall be a period of two (2) years commencing on the Effective Date and ending
at the close of business on the two-year anniversary of the Effective Date (the “Termination Date”); provided, however, that this 

  

 2 

	 	 
Agreement shall be automatically renewed, and the Period of Employment shall be automatically extended for one (1) additional year on the Termination
Date and each anniversary of the Termination Date thereafter, unless either party gives notice, in writing, at least sixty (60) days prior to the expiration of the Period of Employment (including any renewal thereof) of such party’s desire
to terminate the Period of Employment (a “Notice of Non-Renewal”). The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment
shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment
is subject to earlier termination as provided below in this Agreement. 

  

	3.	Compensation. 

  

	 	3.1	Base Salary. The Executive’s base salary (the “Base Salary”) shall be paid in accordance with the Company’s regular payroll practices in
effect from time to time, but not less frequently than in monthly installments. The Executive’s Base Salary for the first twelve (12) months of the Period of Employment shall be at an annualized rate of Four Hundred Forty Thousand Dollars
($440,000). The Company will review the Executive’s Base Salary at least annually and may adjust the Executive’s Base Salary from the rate then in effect based on such review. 

  

	 	3.2	Incentive Bonus. During the Period of Employment, the Executive shall be eligible to receive an annual incentive bonus (“Incentive Bonus”) in an
amount to be determined by the Board in its sole discretion, based on the performance objectives established by the Board for that particular period. The Executive’s target Incentive Bonus amount for the 2008 and 2009 fiscal years shall be 60%
of the Executive’s Base Salary, unless the Board or the Compensation Committee of the Board (the “Compensation Committee”) sets a higher target Incentive Bonus for those years. For fiscal year 2008 the Executive’s
Incentive Bonus shall be pro rated based on hire date. 

 The Executive’s bonus shall be payable in accordance with the
Company’s Fiscal Year 2008 Executive Incentive Compensation Program. The Executive will participate in establishing his individual performance goals under such program, which he and the Board (or the Compensation Committee of the Board) shall
endeavor to agree upon prior to the Effective Date. 
  

	 	3.3	Additional Performance Compensation. Executive shall be eligible to receive such additional performance based compensation as the Board or the Compensation Committee
of the Board may, from time to time, determine is appropriate. In addition, the Company shall grant Executive fully vested shares of the Company’s common stock, $0.0001 par value per share (“Common Stock”) as follows:

 (a) if, on or before the six-month anniversary of the closing of the Merger, the Company has achieved (i) at least 95%
of the post-closing cost savings expected to be achieved between the closing of the Merger and such date and (ii) at least 90% of the revenues expected to be achieved between the closing of the Merger and such date, 10,000 shares of Common
Stock; and 
  

 3 

 (b) if, on or before the one-year anniversary of the closing of the Merger, the Company has achieved
(i) at least 95% of the post-closing cost savings expected to be achieved by such date and (ii) at least 90% of the revenues expected to be achieved between the closing of the Merger and such date, 10,000 shares of Common Stock.

  

	 	3.4	Stock Option Grants. Subject to this Section 3.4, as of the Effective Date, the Company will grant to the Executive an option (the “Option”) to
purchase 200,000 shares of the Company’s Common Stock. 

 The exercise price per share for the Option will be equal to the
fair market value of a share of the Common Stock on the date the Option is granted. The Option will be intended to qualify as an “incentive stock option” within the meaning of Section 422 of the Internal Revenue Code of 1986, as
amended (the “Code”), to the maximum extent possible within the limitations of the Code. The Option will vest as follows: 25% of the shares subject to the Option shall vest upon Executive’s completion of one year of continuous
service to the Company following the Effective Date, and 1/48 of the shares subject to the Option shall vest in 36 equal monthly installments upon completion of each month of continuous service thereafter such that Executive shall be fully vested in
the Option after four years of continuous service from the Effective Date. The vesting of each installment of the Option will occur only if such vesting date occurs during the Executive’s continued employment by the Company through the
respective vesting date. The maximum term of the Option will be seven (7) years from the date of grant of the Option. The Option shall be granted under the Company’s 2006 Equity Incentive Plan (the “Plan”), a copy of which
has been provided to the Executive, and shall be subject to such further terms and conditions as set forth in a written stock option agreement to be entered into by the Company and the Executive to evidence the Option (the “Option
Agreement”). The Option Agreement shall provide that Executive shall vest in 100% of the then unvested shares subject to the Option in the event Executive’s employment is terminated within 12 months following a Change of Control. The
Option Agreement shall be in substantially the form as may be used by the Company to evidence stock option grants made under the Plan at the time of grant. 
  

	 	3.5	Stock Award. Upon Executive’s completion of three months of continuous Service to the Company measured from the Effective Date, the Company shall grant Executive
5,000 shares of fully vested Common Stock. 

  

 4 

	4.	Benefits. 

  

	 	4.1	Retirement, Welfare and Fringe Benefits. During the Period of Employment, the Executive shall be entitled to participate in all employee pension and welfare benefit
plans and programs, and fringe benefit plans and programs, made available by the Company to the Company’s employees generally, in accordance with the eligibility and participation provisions of such plans and as such plans or programs may be in
effect from time to time. 

  

	 	4.2	Reimbursement of Business Expenses. The Executive is authorized to incur reasonable expenses in carrying out the Executive’s duties for the Company under this
Agreement and reimbursement for all reasonable business expenses the Executive incurs during the Period of Employment in connection with carrying out the Executive’s duties for the Company, subject to the Company’s expense reimbursement
policies in effect from time to time. 

  

	 	4.3	Vacation and Other Leave. During the Period of Employment, the Executive shall accrue and be entitled to take paid vacation in accordance with the Company’s
vacation policies in effect from time to time, including the Company’s policies regarding vacation accruals; provided that the Executive’s rate of vacation accrual during the Period of Employment shall be no less than three (3) weeks
per year. The Executive shall also be entitled to all other holiday and leave pay generally available to other executives of the Company. 

  

	5.	Termination. 

  

	 	5.1	Termination by the Company. The Executive’s employment by the Company, and the Period of Employment, may be terminated at any time by the Company: (i) with
Cause (as defined in Section 5.5), or (ii) with no less than sixty (60) days advance notice to the Executive, without Cause, or (iii) in the event of the Executive’s death, or (iv) in the event that the Board determines
in good faith that the Executive has a Disability (as defined in Section 5.5). 

  

	 	5.2	Termination by the Executive. The Executive’s employment by the Company, and the Period of Employment, may be terminated by the Executive with no less than sixty
(60) days advance notice to the Company; provided, however, that in the case of a termination for Good Reason, the Executive may provide immediate written notice if the Company fails to, or cannot, reasonably cure the event that constitutes
Good Reason. 

  

	 	5.3	 Benefits Upon Termination. If the Executive’s employment by the Company is terminated during the Period of Employment for any reason by the
Company or by the Executive, or upon or following the expiration of the Period of Employment (in any case, the date that the Executive’s employment by the Company terminates is referred to as the “Severance Date”), the Company
shall have no further obligation to make or provide to the Executive, and the Executive 

  

 5 

	 	 
shall have no further right to receive or obtain from the Company, any payments or benefits except as follows: 

  

	 	(a)	The Company shall pay the Executive (or, in the event of his death, the Executive’s estate) any Accrued Obligations (as defined in Section 5.5); 

 

	 	(b)	If, during the Period of Employment Executive’s employment with the Company terminates as a result of an Involuntary Termination (as defined in Section 5.5) or
Executive’s employment with the Company terminates upon the expiration of the Period of Employment pursuant to a Notice of Non-Renewal given by the Company, and in either case subject to the release requirement in Section 5.4, the Company
shall provide the following severance benefits to Executive: 

  

	 	i.	The Company shall pay the Executive (in addition to the Accrued Obligations) an amount equal to 100% of the Executive’s Base Salary at the annual rate in effect on the
Severance Date. The Company shall pay such amount to the Executive in equal installments, less tax withholdings and other authorized deductions, in accordance with the Company’s normal payroll practices then in effect following the Severance
Date through the twelve (12) month anniversary of the Severance Date. 

  

	 	ii.	The Company shall pay the cost of the Executive’s premiums charged to continue medical coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act
(“COBRA”), at the same or reasonably equivalent medical coverage for Executive (and, if applicable, Executive’s eligible dependents) as in effect immediately prior to the Severance Date, for a period commencing on the Severance
Date and ending on the earlier to occur of (A) the date the Executive becomes eligible for medical coverage with another employer and (B) the 6-month anniversary of the Severance Date. 

  

	 	iii.	In the event that Executive’s employment with the Company terminates as a result of an Involuntary Termination within twelve (12) months following a Change of Control, the
Company shall pay Executive an amount equal to a pro rated portion of Executive’s target Incentive Bonus for the fiscal year in which the termination occurs. In addition, in accordance with Section 3.4 and the Option Agreement, Executive
shall fully vest in any unvested shares subject to the Option if Executive’s employment with the Company terminates as a result of an Involuntary Termination within twelve (12) months following a Change of Control.

  

 6 

	 	    	For purposes of clarity, in the event the Executive’s employment terminates upon the expiration of the Period of Employment pursuant to a Notice of Non-Renewal given by the
Executive, the Executive shall not be entitled to any payment pursuant to this Section 5.3(c); and in the event the Executive’s employment terminates upon the expiration of the Period of Employment (whether pursuant to a Notice of
Non-Renewal given by the Company or the Executive), the Executive’s outstanding options shall continue to be governed in accordance with their terms (including, without limitation, the terms applicable to a termination of the Executive’s
employment). 

 Notwithstanding the foregoing provisions of this Section 5.3, if the Executive breaches his obligations
under the Confidentiality Agreement and/or Section 7 or 8 of this Agreement at any time, from and after the date of such breach, (x) the Executive will no longer be entitled to, and the Company will no longer be obligated to pay, any
remaining unpaid portion of any benefits provided in Section 5.3(b), and (y) the Executive will no longer be entitled to, and the Company will no longer be obligated to make available to Executive or Executive’s spouse or dependents
any group health, life or other similar insurance plans or any payment in respect of such plans. 
 The foregoing provisions of this
Section 5.3 shall not affect: (i) the Executive’s receipt of benefits otherwise due terminated employees under group insurance coverage consistent with the terms of the applicable Company welfare benefit plan; (ii) the
Executive’s rights under COBRA to continue participation in medical, dental, hospitalization and life insurance coverage; or (iii) the Executive’s receipt of benefits otherwise due in accordance with the terms of the Company’s
401(k) plan (if any). In no event shall the Company’s obligations to the Executive exceed the sum of the Accrued Obligations, the benefits provided in either Section 5.3(b), if applicable, and the benefits contemplated by this paragraph,
regardless of the manner of the Executive’s termination. 
  

	5.4	Release; Exclusive Remedy. 

  

	 	(a)	 This Section 5.4 shall apply notwithstanding anything else contained in this Agreement or any stock option, restricted stock or other equity-based award
agreement to the contrary. As a condition precedent to any Company obligation to the Executive pursuant to Section 5.3(b) or any obligation to accelerate vesting of any equity-based award in connection with the termination of the
Executive’s employment (including with respect to the Option), the Executive shall, upon or promptly following his last day of employment with the Company, provide the Company with a valid, executed general release agreement in a form
acceptable to the Company, and such release agreement shall have not been revoked by the Executive pursuant to any revocation rights afforded by applicable law. The Company shall have no obligation to make any payment to the Executive pursuant to
Section 5.3(b) (or otherwise accelerate the vesting 

  

 7 

	 	 
of any equity-based award in the circumstances as otherwise contemplated by the applicable award agreement) unless and until the release agreement
contemplated by this Section 5.4 becomes irrevocable by the Executive in accordance with all applicable laws, rules and regulations. 

  

	 	(b)	The Executive agrees that the general release agreement described in Section 5.4(a) will require that the Executive acknowledge, as a condition to the payment of any benefits
under Section 5.3(b), as applicable, that the payments contemplated by Section 5.3 (and any applicable acceleration of vesting of an equity-based award in accordance with the terms of such award in connection with the termination of the
Executive’s employment) shall constitute the exclusive and sole remedy for any termination of his employment, and the Executive will be required to covenant, as a condition to receiving any such payment (and any such accelerated vesting), not
to assert or pursue any other remedies, at law or in equity, with respect to any termination of employment. The Company and Executive acknowledge and agree that there is no duty of the Executive to mitigate damages under this Agreement. All amounts
paid to the Executive pursuant to Section 5.3 shall be paid without regard to whether the Executive has taken or takes actions to mitigate damages. 

  

	5.5	Certain Defined Terms. 

  

	 	(a)	As used herein, “Accrued Obligations” means: 

  

	 	(i)	any Base Salary that had accrued but had not been paid (including accrued and unpaid vacation time) on or before the Severance Date; and 

  

	 	(ii)	any reimbursement due to the Executive pursuant to Section 4.2 or Section 4.4 for expenses incurred by the Executive on or before the Severance Date.

  

	 	(b)	 As used herein, “Cause” shall mean, as reasonably determined by the Board (excluding the Executive, if he is then a member of the Board),
(i) any act of personal dishonesty taken by the Executive in connection with his responsibilities as an employee of the Company which is intended to result in substantial personal enrichment of the Executive and is reasonably likely to result
in material harm to the Company, (ii) the Executive’s conviction of a felony or any other crime which the Board reasonably believes has had or will have a material detrimental effect on the Company’s reputation or business,
(iii) a willful act by the Executive which constitutes misconduct and is materially injurious to the Company, or (iv) continued willful violations by the Executive of the Executive’s obligations to the Company after there has been
delivered to the Executive a written demand for performance from the Company which describes the 

  

 8 

	 	 
basis for the Company’s belief that the Executive has willfully violated his obligations to the Company. 

  

	 	(c)	As used herein, “Change of Control” shall mean (i) any merger or consolidation of the Company in which the stockholders of the Company immediately prior to the
transaction do not own more than 50% of the outstanding voting power of the Company (or its successor) immediately after such transaction, (ii) the sale of all or substantially all of the assets of the Company, or (iii) any person or
related group of persons (other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) directly or indirectly acquires beneficial ownership (within the meaning of Rule 13d-3
of the Securities Exchange Act of 1934, as amended) of securities possessing more than fifty percent (50%) of the total combined voting power of the Company’s outstanding securities pursuant to a tender or exchange offer made directly to
the Company’s stockholders. 

  

	 	(d)	As used herein, “Disability” shall mean a physical or mental impairment which, as reasonably determined by the Board, renders the Executive unable to perform the
essential functions of his employment with the Company, even with reasonable accommodation that does not impose an undue hardship on the Company, for more than 120 days in any 12-month period, unless a longer period is required by federal or state
law, in which case that longer period would apply. 

  

	 	(e)	As used herein, “Good Reason” shall mean the occurrence of, without Executive’s express written consent, a material reduction of the Executive’s duties,
position or responsibilities relative to the Executive’s duties, position or responsibilities in effect immediately prior to such reduction, or the removal of the Executive from such duties, position and responsibilities.

  

	 	(f)	As used herein, “Involuntary Termination” shall mean a termination of the Executive’s employment by the Company without Cause or a resignation by the Executive
for Good Reason within 60 days of the occurrence of the event constituting Good Reason. For purposes of this Agreement, the term Involuntary Termination includes a termination of the Executive’s employment due to the Executive’s death or
Disability. 

  

	5.6.	Notice of Termination. Any termination of the Executive’s employment under this Agreement shall be communicated by written notice of termination from the
terminating party to the other party. The notice of termination shall indicate the specific provision(s) of this Agreement relied upon in effecting the termination. 

  

 9 

	5.7	Limitation on Benefits. 

  

	 	(a)	Notwithstanding anything contained in this Agreement to the contrary, to the extent that the payments and benefits provided under this Agreement and benefits provided to, or for the
benefit of, the Executive under any other Company plan or agreement (such payments or benefits are collectively referred to as the “Benefits”) would be subject to the excise tax (the “Excise Tax”) imposed under
Section 4999 of the Internal Revenue Code of 1986, as amended (the “Code”), the Benefits shall be reduced (but not below zero) if and to the extent that a reduction in the Benefits would result in the Executive retaining a
larger amount, on an after-tax basis (taking into account federal, state and local income taxes and the Excise Tax), than if the Executive received all of the Benefits (such reduced amount if referred to hereinafter as the “Limited Benefit
Amount”). Unless the Executive shall have given prior written notice specifying a different order to the Company to effectuate the Limited Benefit Amount, the Company shall reduce or eliminate the Benefits by first reducing or eliminating
those payments or benefits which are not payable in cash and then by reducing or eliminating cash payments, in each case in reverse order beginning with payments or benefits which are to be paid the farthest in time from the Determination (as
hereinafter defined). Any notice given by the Executive pursuant to the preceding sentence shall take precedence over the provisions of any other plan, arrangement or agreement governing the Executive’s rights and entitlements to any benefits
or compensation. 

  

	 	(b)	A determination as to whether the Benefits shall be reduced to the Limited Benefit Amount pursuant to this Agreement and the amount of such Limited Benefit Amount shall be made by
the Company’s independent public accountants or another certified public accounting firm of national reputation designated by the Company (the “Accounting Firm”) at the Company’s expense. The Accounting Firm shall provide
its determination (the “Determination”), together with detailed supporting calculations and documentation to the Company and the Executive within five (5) days of the date of termination of the Executive’s employment, if
applicable, or such other time as requested by the Company or the Executive (provided the Executive reasonably believes that any of the Benefits may be subject to the Excise Tax), and if the Accounting Firm determines that no Excise Tax is payable
by the Executive with respect to any Benefits, it shall furnish the Executive with an opinion reasonably acceptable to the Executive that no Excise Tax will be imposed with respect to any such Benefits. Unless the Executive provides written notice
to the Company within ten (10) days of the delivery of the Determination to the Executive that he disputes such Determination, the Determination shall be binding, final and conclusive upon the Company and the Executive.

  

 10 

	6.	Confidential and Proprietary Information; Inventions and Developments. Concurrently with entering into this Agreement, the Executive will execute the Confidentiality
Agreement. 

  

	7.	Confidentiality. The Executive hereby agrees that the Executive shall not at any time (whether during or after the Executive’s employment with the Company),
directly or indirectly, other than in the course of the Executive’s duties hereunder, disclose or make available to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, any Confidential Information
(as defined below); provided, however, that this Section 7 shall not apply when (i) disclosure is required by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with apparent
jurisdiction to order the Executive to disclose or make available such information (provided, however, that the Executive shall promptly notify the Company in writing upon receiving a request for such information), or (ii) with respect to any
other litigation, arbitration or mediation involving this Agreement, including but not limited to enforcement of this Agreement. The Executive agrees that, upon termination of the Executive’s employment with the Company, all Confidential
Information in the Executive’s possession that is in written, digital or other tangible form (together with all copies or duplicates thereof, including computer files) shall be returned to the Company and shall not be retained by the Executive
or furnished to any third party, in any form except as provided herein; provided, however, that the Executive shall not be obligated to treat as confidential, or return to the Company copies of any Confidential Information that (a) was publicly
known at the time of disclosure to the Executive, (b) becomes publicly known or available thereafter other than by any means in violation of this Agreement or any other duty owed to the Company by any person or entity, or (c) is lawfully
disclosed to the Executive by a third party. As used in this Agreement, the term “Confidential Information” means: information disclosed to the Executive or known by the Executive as a consequence of or through the Executive’s
relationship with the Company, about the customers, employees, business methods, public relations methods, organization, procedures or finances, including, without limitation, information of or relating to customer lists, of the Company Group.
Executive shall also execute and comply with the Company’s Proprietary Information and Confidentiality Agreement, which is attached hereto as Exhibit B. 

  

	8.	Anti-Solicitation. 

  

	 	8.1	Business Relationships. The Executive promises and agrees that during the Period of Employment and for a period of one (1) year thereafter, the Executive will
not, directly or indirectly, individually or as a consultant to, or as an employee, officer, stockholder, director or other owner or participant in any business, influence or attempt to influence customers, vendors, suppliers, joint venturers,
associates, consultants, agents, or partners of the Company or any of its affiliates (collectively, the “Company Group”), either directly or indirectly, to divert their business away from the Company Group, to any individual,
partnership, firm, corporation or other entity then in competition with the business of any entity within the Company Group, and he will not otherwise materially interfere with any business relationship of any entity within the Company Group.

  

 11 

	 	8.2	Employees. The Executive promises and agrees that during the Period of Employment and for a period of one (1) year thereafter, the Executive will not, directly or
indirectly, individually or as a consultant to, or as an employee, officer, stockholder, director or other owner of or participant in any business, solicit (or assist in soliciting) any person who is then an employee of an entity within the Company
Group who earned annually $25,000 or more as an employee of such entity during the last six (6) months of his or her own employment to work for (as an employee, consultant or otherwise) any business, individual, partnership, firm, corporation,
or other entity whether or not engaged in competitive business with any entity in the Company Group. 

  

	9.	Withholding Taxes. Notwithstanding anything else herein to the contrary, the Company may withhold (or cause there to be withheld, as the case may be) from any amounts
otherwise due or payable under or pursuant to this Agreement such federal, state and local income, employment, or other taxes as may be required to be withheld pursuant to any applicable law or regulation. 

  

	10.	Assignment. This Agreement is personal in its nature and neither of the parties hereto shall, without the consent of the other, assign or transfer this Agreement or
any rights or obligations hereunder; provided, however, that in the event of a merger, consolidation, or transfer or sale of all or substantially all of the assets of the Company with or to any other individual(s) or entity, this
Agreement shall, subject to the provisions hereof, be binding upon and inure to the benefit of such successor and such successor shall discharge and perform all the promises, covenants, duties, and obligations of the Company hereunder.

  

	11.	Number and Gender. Where the context requires, the singular shall include the plural, the plural shall include the singular, and any gender shall include all other
genders. 

  

	12.	Section Headings. The section headings of, and titles of paragraphs and subparagraphs contained in, this Agreement are for the purpose of convenience only, and they
neither form a part of this Agreement nor are they to be used in the construction or interpretation thereof. 

  

	13.	Governing Law. This Agreement, and all questions relating to its validity, interpretation, performance and enforcement, as well as the legal relations hereby created
between the parties hereto, shall be governed by and construed under, and interpreted and enforced in accordance with, the laws of the State of California, notwithstanding any California or other conflict of law provision to the contrary.

  

	14.	Severability. If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect other provisions or applications of this
Agreement which can be given effect without the invalid provisions or applications and to this end the provisions of this Agreement are declared to be severable. 

  

	15.	 Entire Agreement. This Agreement, together with the Confidentiality Agreement and the Option Agreements, embodies the entire agreement of the parties
hereto respecting the matters within its scope. This Agreement supersedes all prior and contemporaneous 

  

 12 

	 	 
agreements of the parties hereto that directly or indirectly bears upon the subject matter hereof. Any prior negotiations, correspondence, agreements,
proposals or understandings relating to the subject matter hereof shall be deemed to have been merged into this Agreement, and to the extent inconsistent herewith, such negotiations, correspondence, agreements, proposals, or understandings shall be
deemed to be of no force or effect. There are no representations, warranties, or agreements, whether express or implied, or oral or written, with respect to the subject matter hereof, except as expressly set forth herein.

  

	16.	Modifications. This Agreement may not be amended, modified or changed (in whole or in part), except by a formal, definitive written agreement expressly referring to
this Agreement, which agreement is executed by both of the parties hereto. 

  

	17.	Waiver. Neither the failure nor any delay on the part of a party to exercise any right, remedy, power or privilege under this Agreement shall operate as a waiver
thereof, nor shall any single or partial exercise of any right, remedy, power or privilege preclude any other or further exercise of the same or of any right, remedy, power or privilege, nor shall any waiver of any right, remedy, power or privilege
with respect to any occurrence be construed as a waiver of such right, remedy, power or privilege with respect to any other occurrence. No waiver shall be effective unless it is in writing and is signed by the party asserted to have granted such
waiver. 

  

	18.	Arbitration. Any controversy arising out of or relating to the Executive’s employment (whether or not before or after the expiration of the Period of Employment),
any termination of the Executive’s employment, this Agreement, the Confidentiality Agreement referred to in Section 6, the Option Agreements, the enforcement or interpretation of any of such agreements, or because of an alleged breach,
default, or misrepresentation in connection with any of the provisions of any such agreement, including (without limitation) any state or federal statutory claims, shall be submitted to arbitration in Alameda County, California, before a sole
arbitrator selected from Judicial Arbitration and Mediation Services, Inc. or its successor (“JAMS”), or if JAMS is no longer able to supply the arbitrator, such arbitrator shall be selected from the American Arbitration
Association; provided, however, that provisional injunctive relief may, but need not, be sought in a court of law while arbitration proceedings are pending, and any provisional injunctive relief granted by such court shall remain effective until the
matter is finally determined by the arbitrator. The arbitration shall be administered by JAMS pursuant to its Comprehensive Arbitration Rules and Procedures. Judgment on the award may be entered in any court having jurisdiction.

 The parties acknowledge and agree that they are hereby waiving any rights to trial by jury in any action, proceeding or
counterclaim brought by either of the parties against the other in connection with any matter whatsoever arising out of or in any way connected with any of the matters referenced in the first sentence of the first paragraph of this Section 18.

 The parties agree that the Company shall be responsible for payment of the forum costs of any arbitration hereunder, including the
arbitrator’s fee. The parties further agree that 

  

 13 

 
in any proceeding with respect to such matters, the prevailing party will be entitled to recover its reasonable attorney’s fees and costs from the
non-prevailing party (other than forum costs associated with the arbitration which in any event shall be paid by the Company). 
 Without
limiting the remedies available to the parties and notwithstanding the foregoing provisions of this Section 18, the Executive and the Company acknowledge that any breach of any of the covenants or provisions contained in Section 7 or 8 of
this Agreement or in the Confidentiality Agreement could result in irreparable injury to either of the parties hereto for which there might be no adequate remedy at law, and that, in the event of such a breach or threat thereof, the non-breaching
party shall be entitled to obtain a temporary restraining order and/or a preliminary injunction and a permanent injunction restraining the other party hereto from engaging in any activities prohibited by any covenant or provision in Section 7
or 8 of this Agreement or in the Confidentiality Agreement or such other equitable relief as may be required to enforce specifically any of such covenants or provisions. 
  

	19.	Insurance. The Company shall have the right at its own cost and expense to apply for and to secure in its own name, or otherwise, life, health or accident insurance or
any or all of them covering the Executive, and the Executive agrees to submit to any usual and customary medical examination and otherwise cooperate with the Company in connection with the procurement of any such insurance and any claims thereunder.

  

	20.	Notices. 

  

	 	(a)	All notices, requests, demands and other communications required or permitted under this Agreement shall be in writing and shall be deemed to have been duly given and made if
(i) delivered by hand, (ii) otherwise delivered against receipt therefor, or (iii) sent by registered or certified mail, postage prepaid, return receipt requested. Any notice shall be duly addressed to the parties as follows:

  

	 	(i)	if to the Company: 

  

	 	    	Exar Corporation 

	 	    	48720 Kato Road 

	 	    	Fremont, CA 94538 

	 	    	Attn: Board of Directors 

  

	 	    	with a copy to: 

  

	 	    	Steve Sonne, Esq. 

	 	    	O’Melveny & Myers LLP 

	 	    	2765 Sand Hill Road 

	 	    	Menlo Park, CA 94025 

  

 14 

	 	(ii)	if to the Executive, to the address most recently on file in the payroll records of the Company. 

  

	 	(b)	Any party may alter the address to which communications or copies are to be sent by giving notice of such change of address in conformity with the provisions of this Section 20
for the giving of notice. Any communication shall be effective when delivered by hand, when otherwise delivered against receipt therefor, or five (5) business days after being mailed in accordance with the foregoing. 

 

	21.	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears
thereon, and all of which together shall constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually or taken together, shall bear the signatures of all of the parties reflected
hereon as the signatories. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 

  

	22.	Legal Counsel; Mutual Drafting. Each party recognizes that this is a legally binding contract and acknowledges and agrees that they have had the opportunity to consult
with legal counsel of their choice. Each party has cooperated in the drafting, negotiation and preparation of this Agreement. Hence, in any construction to be made of this Agreement, the same shall not be construed against either party on the basis
of that party being the drafter of such language. The Executive agrees and acknowledges that he has read and understands this Agreement, is entering into it freely and voluntarily, and has been advised to seek counsel prior to entering into this
Agreement and has had ample opportunity to do so. 

  

	23.	Code Section 409A. 

  

	 	(a)	It is intended that any amounts payable under this Agreement and the Company’s and the Executive’s exercise of authority or discretion hereunder shall comply with
Section 409A of the Code (including the Treasury regulations and other published guidance relating thereto) (“Code Section 409A”) so as not to subject the Executive to payment of any interest or additional tax imposed
under Code Section 409A. To the extent that any amount payable under this Agreement would trigger the additional tax imposed by Code Section 409A, the Agreement shall be modified to avoid such additional tax yet preserve (to the nearest
extent reasonably possible) the intended benefit payable to the Executive. 

  

	 	(b)	 Notwithstanding any provision of this Agreement to the contrary, if the Executive is a “specified employee” as defined in Code Section 409A, the
Executive shall not be entitled to any payments upon a termination of his employment until the earlier of (i) the date which is six (6) months after his termination of employment for any reason other than death, or (ii) the date of
the Executive’s death. Furthermore, with regard to any benefit to be provided upon a termination of employment, to the extent required by Code Section 409A, the Executive shall pay the premium for such benefit during the aforesaid period
and be reimbursed 

  

 15 

	 	 
by the Corporation therefor promptly after the end of such period. Any amounts otherwise payable to the Executive following a termination of his employment
that are not so paid by reason of this Section 23(b) shall be paid as soon as practicable after the date that is six (6) months after the termination of the Executive’s employment (or, if earlier, the date of the Executive’s
death). The provisions of this Section 23(b) shall only apply if, and to the extent, required to comply with Code Section 409A. 

 [The remainder of this page has intentionally been left blank.] 
  

 16 

 IN WITNESS WHEREOF, the Company and the Executive have executed this Agreement as of the Effective
Date. 
  

			
	 “COMPANY”
  
 Exar Corporation,
 a Delaware corporation

		
	By:	 	/s/ Richard Leza
	Name:	 	Richard Leza
	Title:	 	 Chairman of the Board, Acting Chief
 Executive Officer
and President

	
	“EXECUTIVE”
	
	/s/ Ralph Schmitt
	Ralph Schmitt

  

 17 

 EXHIBIT A 
 EXECUTIVE CONFIDENTIALITY DISCLOSURE 
  

 EXHIBIT B 
 PROPRIETARY INFORMATION AND CONFIDENTIALITY AGREEMENT

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