Document:

1993 Employee Stock Purchase Plan, as amended

 EXHIBIT 4.1 
  

INTEGRATED SILICON SOLUTION, INC. 
  
 1993 EMPLOYEE STOCK PURCHASE PLAN 
 (AS AMENDED)

  
 The following constitute the provisions of the 1993 Employee
Stock Purchase Plan of Integrated Silicon Solution, Inc. 
  
 1.
Purpose. The purpose of the Plan is to provide employees of the Company and its Designated Subsidiaries with an opportunity to purchase Common Stock of the Company through accumulated payroll deductions. It is the intention of the Company to have
the Plan qualify as an “Employee Stock Purchase Plan” under Section 423 of the Internal Revenue Code of 1986, as amended. The provisions of the Plan, accordingly, shall be construed so as to extend and limit participation in a manner
consistent with the requirements of that section of the Code. 
  
 2. Definitions. 
  
 (a)
“Board” shall mean the Board of Directors of the Company. 
  
 (b) “Code” shall mean the Internal Revenue Code of 1986, as amended. 
  
 (c) “Common Stock” shall mean the Common Stock of the Company. 
  
 (d) “Company” shall mean Integrated Silicon Solution, Inc., and any Designated Subsidiary of the
Company. 
  
 (e) “Compensation” shall
mean all base straight time gross earnings, including commissions, but exclusive of payments for overtime, shift premium, incentive compensation, incentive payments, bonuses, and other compensation. 
  
 (f) “Designated Subsidiaries” shall mean the
Subsidiaries which have been designated by the Board from time to time in its sole discretion as eligible to participate in the Plan. 
  
 (g) “Employee” shall mean any individual who is an Employee of the Company for tax purposes whose customary employment with the
Company is at least twenty (20) hours per week and more than five (5) months in any calendar year. For purposes of the Plan, the employment relationship shall be treated as continuing intact while the individual is on sick leave or other leave of
absence approved by the Company. Where the period of leave exceeds 90 days and the individual’s right to reemployment is not guaranteed either by statute or by contract, the employment relationship will be deemed to have terminated on the 91st
day of such leave. 
  
 (h) “Enrollment
Date” shall mean the first day of each Offering Period. 
  
 (i) “Exercise Date” shall mean the last day of each Purchase Period. 
  

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 (j) “Fair Market Value” shall mean, as of any date, the value of Common Stock
determined as follows: 
  
 (1) If the Common
Stock is listed on any established stock exchange or a national market system, including without limitation the National Market of the National Association of Securities Dealers, Inc. Automated Quotation (“NASDAQ”) System, its Fair Market
Value shall be the closing sale price for the Common Stock (or the mean of the closing bid and asked prices, if no sales were reported), as quoted on such exchange (or the exchange with the greatest volume of trading in Common Stock) or system on
the date of such determination, as reported in The Wall Street Journal or such other source as the Board deems reliable, or; 
  
 (2) If the Common Stock is quoted on the NASDAQ system (but not on the National Market thereof) or is regularly quoted by a recognized
securities dealer but selling prices are not reported, its Fair Market Value shall be the mean of the closing bid and asked prices for the Common Stock on the date of such determination, as reported in The Wall Street Journal or such other source as
the Board deems reliable, or; 
  
 (3)
Notwithstanding paragraphs (1) and (2), in the case of an Offering Period commencing substantially concurrent with the Company’s initial public offering, the Fair Market Value may be determined by the Board to be equal to the initial price to
the public of shares of Common Stock in such offering; or 
  
 (4) In the absence of an established market for the Common Stock, the Fair Market Value thereof shall be determined in good faith by the Board. 
  
 (k) “Offering Period” shall mean the period of approximately twenty-four (24) months during which
an option granted pursuant to the Plan may be exercised, commencing on the first Trading Day on or after February 1 and August 1 of each year and terminating on the last Trading Day in the periods ending twenty-four (24) months later. The duration
and timing of Offering Periods may be changed pursuant to Section 4 of this Plan. 
  
 (l) “Plan” shall mean this Employee Stock Purchase Plan. 
  
 (m) “Purchase Price” shall mean an amount equal to 85% of the Fair Market Value of a share of
Common Stock on the Enrollment Date or on the Exercise Date, whichever is lower. 
  
 (n) “Purchase Period” shall mean the approximately six month period commencing after one Exercise Date and ending with the next
Exercise Date, except that the first Purchase Period of any Offering Period shall commence on the Enrollment Date and end with the next Exercise Date. 
  
 (o) “Reserves” shall mean the number of shares of Common Stock covered by each option under the Plan which have not yet been
exercised and the number of shares of Common Stock which have been authorized for issuance under the Plan but not yet placed under option. 
  
 (p) “Subsidiary” shall mean a corporation, domestic or foreign, of which not less than 50% of the voting shares are held by the
Company or a Subsidiary, whether or not such corporation now exists or is hereafter organized or acquired by the Company or a Subsidiary. 
  

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 (q) “Trading Day” shall mean a day on which national stock exchanges and the
National Association of Securities Dealers Automated Quotation (NASDAQ) System are open for trading. 
  
 3. Eligibility. 
  
 (a) Any Employee (as defined in Section 2(g)), who shall be employed by the Company on a given Enrollment Date shall be eligible to
participate in the Plan. 
  
 (b) Any provisions
of the Plan to the contrary notwithstanding, no Employee shall be granted an option under the Plan (i) if, immediately after the grant, such Employee (or any other person whose stock would be attributed to such Employee pursuant to Section 424(d) of
the Code) would own capital stock of the Company and/or hold outstanding options to purchase such stock possessing five percent (5%) or more of the total combined voting power or value of all classes of the capital stock of the Company or of any
Subsidiary, or (ii) which permits his or her rights to purchase stock under all employee stock purchase plans of the Company and its subsidiaries to accrue at a rate which exceeds twenty-five thousand dollars ($25,000) worth of stock (determined at
the fair market value of the shares at the time such option is granted) for each calendar year in which such option is outstanding at any time. 
  
 4. Offering Periods. The Plan shall be implemented by consecutive, overlapping Offering Periods with a new Offering Period commencing on the first Trading
Day on or after April 1 and October 1 each year, or on such other dates as the Board shall determine, and continuing thereafter until terminated in accordance with Section 19 hereof. The Board shall have the power to change the duration of Offering
Periods (including the commencement and termination dates thereof) with respect to future offerings without stockholder approval if such change is announced at least five (5) days prior to the scheduled beginning of the first Offering Period to be
affected thereafter. 
  
 5. Participation. 
  
 (a) An eligible Employee may become a participant in the
Plan by completing a subscription agreement authorizing payroll deductions in the form of Exhibit A to this Plan and filing it with the Company’s payroll office prior to the applicable Enrollment Date. 
  
 (b) Payroll deductions for a participant shall commence on
the first payroll following the Enrollment Date and shall end on the last payroll in the Offering Period to which such authorization is applicable, unless sooner terminated by the participant as provided in Section 10 hereof. 
  
 6. Payroll Deductions. 
  
 (a) At the time a participant files his or her subscription
agreement, he or she shall elect to have payroll deductions made on each pay day during the Offering Period in an amount not exceeding ten percent (10%) of the Compensation which he or she receives on each pay day during the Offering Period, and the
aggregate of such payroll deductions during the Offering Period shall not exceed ten percent (10%) of the participant’s Compensation during said Offering Period. 
  

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 (b) All payroll deductions made for a participant shall be credited to his or her account
under the Plan and will be withheld in whole percentages only. A participant may not make any additional payments into such account. 
  
 (c) A participant may discontinue his or her participation in the Plan as provided in Section 10 hereof, or may increase or decrease the
rate of his or her payroll deductions during the Offering Period by completing or filing with the Company a new subscription agreement authorizing a change in payroll deduction rate. The Board may, in its discretion, limit the number of
participation rate changes during any Offering Period. The change in rate shall be effective with the first full payroll period following five (5) business days after the Company’s receipt of the new subscription agreement unless the Company
elects to process a given change in participation more quickly. A participant’s subscription agreement shall remain in effect for successive Offering Periods unless terminated as provided in Section 10 hereof. 
  
 (d) Notwithstanding the foregoing, to the extent necessary
to comply with Section 423(b)(8) of the Code and Section 3(b) hereof, a participant’s payroll deductions may be decreased to 0% at such time during any Purchase Period which is scheduled to end during the current calendar year (the
“Current Purchase Period”) that the aggregate of all payroll deductions which were previously used to purchase stock under the Plan in a prior Purchase Period which ended during that calendar year plus all payroll deductions accumulated
with respect to the Current Purchase Period equal $21,250. Payroll deductions shall recommence at the rate provided in such participant’s subscription agreement at the beginning of the first Purchase Period which is scheduled to end in the
following calendar year, unless terminated by the participant as provided in Section 10 hereof. 
  
 (e) At the time the option is exercised, in whole or in part, or at the time some or all of the Company’s Common Stock issued under
the Plan is disposed of, the participant must make adequate provision for the Company’s federal, state, or other tax withholding obligations, if any, which arise upon the exercise of the option or the disposition of the Common Stock. At any
time, the Company may, but will not be obligated to, withhold from the participant’s compensation the amount necessary for the Company to meet applicable withholding obligations, including any withholding required to make available to the
Company any tax deductions or benefits attributable to sale or early disposition of Common Stock by the Employee. 
  
 7. Grant of Option. On the Enrollment Date of each Offering Period, each eligible Employee participating in such Offering Period shall be granted an
option to purchase on each Exercise Date during such Offering Period (at the applicable Purchase Price) up to a number of shares of the Company’s Common Stock determined by dividing such Employee’s payroll deductions accumulated prior to
such Exercise Date and retained in the Participant’s account as of the Exercise Date by the applicable Purchase Price; provided that in no event shall an Employee be permitted to purchase during each Purchase Period more than a number of Shares
determined by dividing $12,500 by the Fair Market Value of a share of the Company’s Common Stock on the Enrollment Date (except if there is only one Purchase Period in a calendar year, in which case the dollar limit in the preceding equation
shall be $25,000 instead of $12,500), and provided further that such purchase shall be subject to the limitations set forth in Sections 3(b) and 12 hereof. Exercise of the option shall occur as provided in Section 8 hereof, unless the participant
has withdrawn pursuant to Section 10 hereof, and shall expire on the last day of the Offering Period. 
  

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 8. Exercise of Option. Unless a participant withdraws from the Plan as provided in Section 10 hereof, his
or her option for the purchase of shares will be exercised automatically on the Exercise Date, and the maximum number of full shares subject to option shall be purchased for such participant at the applicable Purchase Price with the accumulated
payroll deductions in his or her account. No fractional shares will be purchased; any payroll deductions accumulated in a participant’s account which are not sufficient to purchase a full share shall be retained in the participant’s
account for the subsequent Purchase Period or Offering Period, subject to earlier withdrawal by the participant as provided in Section 10 hereof. Any other monies left over in a participant’s account after the Exercise Date shall be returned to
the participant. During a participant’s lifetime, a participant’s option to purchase shares hereunder is exercisable only by him or her. 
  
 9. Delivery. As promptly as practicable after each Exercise Date on which a purchase of shares occurs, the Company shall arrange the delivery to each
participant, as appropriate, of a certificate representing the shares purchased upon exercise of his or her option. 
  
 10. Withdrawal; Termination of Employment. 
  
 (a) A participant may withdraw all but not less than all the payroll deductions credited to his or her account and not yet used to
exercise his or her option under the Plan at any time by giving written notice to the Company in the form of Exhibit B to this Plan. All of the participant’s payroll deductions credited to his or her account will be paid to such participant
promptly after receipt of notice of withdrawal and such participant’s option for the Offering Period will be automatically terminated, and no further payroll deductions for the purchase of shares will be made for such Offering Period. If a
participant withdraws from an Offering Period, payroll deductions will not resume at the beginning of the succeeding Offering Period unless the participant delivers to the Company a new subscription agreement. 
  
 (b) Upon a participant’s ceasing to be an Employee (as
defined in Section 2(g) hereof), for any reason, including by virtue of him or her having failed to remain an Employee of the Company for at least twenty (20) hours per week during an Offering Period in which the Employee is a participant, he or she
will be deemed to have elected to withdraw from the Plan and the payroll deductions credited to such participant’s account during the Offering Period but not yet used to exercise the option will be returned to such participant or, in the case
of his or her death, to the person or persons entitled thereto under Section 14 hereof, and such participant’s option will be automatically terminated. 
  
 11. Interest. No interest shall accrue on the payroll deductions of a participant in the Plan. 
  
 12. Stock. 
  
 (a) The maximum number of shares of the Company’s Common Stock which shall be made available for sale
under the Plan shall be 2,850,000 Shares, subject to adjustment upon changes in capitalization of the Company as provided in Section 18 hereof. If, on a given Exercise Date, the number of Shares with respect to which options are to be exercised
exceeds the number of 
  

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 shares then available under the Plan, the Company shall make a pro rata allocation of the Shares
remaining available for purchase in as uniform a manner as shall be practicable and as it shall determine to be equitable. 
  
 (b) The participant will have no interest or voting right in shares covered by his option until such option has been exercised.

  
 (c) Shares to be delivered to a participant
under the Plan will be registered in the name of the participant or in the name of the participant and his or her spouse. 
  
 13. Administration. The Plan shall be administered by the Board or a committee of members of the Board appointed by the Board. The Board or its committee
shall have full and exclusive discretionary authority to construe, interpret and apply the terms of the Plan, to determine eligibility and to adjudicate all disputed claims filed under the Plan. Every finding, decision and determination made by the
Board or its committee shall, to the full extent permitted by law, be final and binding upon all parties. Members of the Board who are eligible Employees are permitted to participate in the Plan, provided that: 
  
 (1) Members of the Board who are eligible to participate in
the Plan may not vote on any matter affecting the administration of the Plan or the grant of any option pursuant to the Plan. 
  
 (2) If a Committee is established to administer the Plan, no member of the Board who is eligible to participate in the Plan may be a
member of the Committee. 
  
 14. Designation of Beneficiary.

  
 (a) A participant may file a written
designation of a beneficiary who is to receive any shares and cash, if any, from the participant’s account under the Plan in the event of such participant’s death subsequent to an Exercise Date on which the option is exercised but prior to
delivery to such participant of such shares and cash. In addition, a participant may file a written designation of a beneficiary who is to receive any cash from the participant’s account under the Plan in the event of such participant’s
death prior to exercise of the option. If a participant is married and the designated beneficiary is not the spouse, spousal consent shall be required for such designation to be effective. 
  
 (b) Such designation of beneficiary may be changed by the
participant at any time by written notice. In the event of the death of a participant and in the absence of a beneficiary validly designated under the Plan who is living at the time of such participant’s death, the Company shall deliver such
shares and/or cash to the executor or administrator of the estate of the participant, or if no such executor or administrator has been appointed (to the knowledge of the Company), the Company, in its discretion, may deliver such shares and/or cash
to the spouse or to any one or more dependents or relatives of the participant, or if no spouse, dependent or relative is known to the Company, then to such other person as the Company may designate. 
  
 15. Transferability. Neither payroll deductions credited to a
participant’s account nor any rights with regard to the exercise of an option or to receive shares under the Plan may be assigned, 
  

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transferred, pledged or otherwise disposed of in any way (other than by will, the laws of descent and distribution or as provided in Section 14 hereof) by
the participant. Any such attempt at assignment, transfer, pledge or other disposition shall be without effect, except that the Company may treat such act as an election to withdraw funds from an Offering Period in accordance with Section 10 hereof.

  
 16. Use of Funds. All payroll deductions received or held by
the Company under the Plan may be used by the Company for any corporate purpose, and the Company shall not be obligated to segregate such payroll deductions. 
  
 17. Reports. Individual accounts will be maintained for each participant in the Plan. Statements of account will be given to participating Employees at
least annually, which statements will set forth the amounts of payroll deductions, the Purchase Price, the number of shares purchased and the remaining cash balance, if any. 
  
 18. Adjustments Upon Changes in Capitalization, Dissolution, Liquidation, Merger or Asset Sale. 
  
 (a) Changes in Capitalization. Subject to any required
action by the stockholders of the Company, the Reserves as well as the price per share of Common Stock covered by each option under the Plan which has not yet been exercised shall be proportionately adjusted for any increase or decrease in the
number of issued shares of Common Stock resulting from a stock split, reverse stock split, stock dividend, combination or reclassification of the Common Stock, or any other increase or decrease in the number of shares of Common Stock effected
without receipt of consideration by the Company; provided, however, that conversion of any convertible securities of the Company shall not be deemed to have been “effected without receipt of consideration”. Such adjustment shall be made by
the Board, whose determination in that respect shall be final, binding and conclusive. Except as expressly provided herein, no issuance by the Company of shares of stock of any class, or securities convertible into shares of stock of any class,
shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price of shares of Common Stock subject to an option. 
  
 (b) Dissolution or Liquidation. In the event of the proposed dissolution or liquidation of the Company, the Offering Periods will
terminate immediately prior to the consummation of such proposed action, unless otherwise provided by the Board. 
  
 (c) Merger or Asset Sale. In the event of a proposed sale of all or substantially all of the assets of the Company, or the merger of the
Company with or into another corporation, each option under the Plan shall be assumed or an equivalent option shall be substituted by such successor corporation or a parent or subsidiary of such successor corporation. In the event that the successor
corporation refuses to assume or substitute for the option, any Purchase Periods than in progress shall be shortened by setting a new Exercise Date (the “New Exercise Date”) and any Offering Periods then in progress shall end on the New
Exercise Date. The New Exercise Date shall be prior to the date of the Company’s proposed sale or merger. If the Board sets a new Exercise Date, the Board shall notify each participant in writing, at least ten (10) business days prior to the
New Exercise Date, that the Exercise Date for his option has been changed to the New Exercise Date and 
  

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 that his option will be exercised automatically on the New Exercise Date, unless prior to such date he
has withdrawn from the Offering Periods as provided in Section 10 hereof. 
  
 19. Amendment or Termination. 
  
 (a) The Board of Directors of the Company may at any time and for any reason terminate or amend the Plan. Except as provided in Section 18 hereof, no such termination can affect options previously granted, provided
that an Offering Period may be terminated by the Board of Directors on any Exercise Date if the Board determines that the termination of the Plan is in the best interests of the Company and its stockholders. Except as provided in Section 18 hereof,
no amendment may make any change in any option theretofore granted which adversely affects the rights of any participant. To the extent necessary to comply with Rule 16b-3 or under Section 423 of the Code (or any successor rule or provision or any
other applicable law or regulation), the Company shall obtain stockholder approval in such a manner and to such a degree as required. 
  
 (b) Without stockholder consent and without regard to whether any participant rights may be considered to have been “adversely
affected,” the Board (or its committee) shall be entitled to change the Offering Periods, limit the frequency and/or number of changes in the amount withheld during an Offering Period, establish the exchange ratio applicable to amounts withheld
in a currency other than U.S. dollars, permit payroll withholding in excess of the amount designated by a participant in order to adjust for delays or mistakes in the Company’s processing of properly completed withholding elections, establish
reasonable waiting and adjustment periods and/or accounting and crediting procedures to ensure that amounts applied toward the purchase of Common Stock for each participant properly correspond with amounts withheld from the participant’s
Compensation, and establish such other limitations or procedures as the Board (or its committee) determines in its sole discretion advisable which are consistent with the Plan. 
  
 20. Notices. All notices or other communications by a participant to the Company under or in connection with the Plan shall
be deemed to have been duly given when received in the form specified by the Company at the location, or by the person, designated by the Company for the receipt thereof. 
  
 21. Conditions Upon Issuance of Shares. Shares shall not be issued with respect to an option unless the exercise of such
option and the issuance and delivery of such shares pursuant thereto shall comply with all applicable provisions of law, domestic or foreign, including, without limitation, the Securities Act of 1933, as amended, the Exchange Act, the rules and
regulations promulgated thereunder, and the requirements of any stock exchange upon which the shares may then be listed, and shall be further subject to the approval of counsel for the Company with respect to such compliance. 
  
 As a condition to the exercise of an option, the Company may
require the person exercising such option to represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without any present intention to sell or distribute such shares if, in the opinion of
counsel for the Company, such a representation is required by any of the aforementioned applicable provisions of law. 
  

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 22. Term of Plan. The Plan shall become effective upon the earlier to occur of its adoption by the Board
of Directors or its approval by the stockholders of the Company. It shall continue in effect until February 2, 2015 unless sooner terminated under Section 19 hereof. 
  
 23. Automatic Transfer to Low Price Offering Period. If the Fair Market Value of the Common Stock on any Exercise Date in an
Offering Period is lower than the Fair Market Value of the Common Stock on the Enrollment Date of such Offering Period, then all participants in such Offering Period shall be automatically withdrawn from such Offering Period immediately after the
exercise of their option on such Exercise Date and automatically re-enrolled in the immediately following Offering Period as of the first day thereof. 
  

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 EXHIBIT A 
  
 INTEGRATED SILICON SOLUTION, INC. 
  
 1993 EMPLOYEE STOCK PURCHASE PLAN 
  
 SUBSCRIPTION AGREEMENT 
  

			
	             Original Application	 	Enrollment Date:
                            
		
	             Change in Payroll Deduction Rate	 	 
		
	             Change of Beneficiary(ies)	 	 

  

	1.	                                      
           hereby elects to participate in the Integrated Silicon Solution, Inc. 1993 Employee Stock Purchase Plan (the “Employee Stock Purchase Plan”) and subscribes to purchase shares
of the Company’s Common Stock in accordance with this Subscription Agreement and the Employee Stock Purchase Plan. 

  

	2.	I hereby authorize payroll deductions from each paycheck in the amount of         % of my Compensation on each payday (1-10%) during
the Offering Period in accordance with the Employee Stock Purchase Plan. (Please note that no fractional percentages are permitted.) 

  

	3.	I understand that said payroll deductions shall be accumulated for the purchase of shares of Common Stock at the applicable Purchase Price determined in accordance with the Employee
Stock Purchase Plan. I understand that if I do not withdraw from an Offering Period, any accumulated payroll deductions will be used to automatically exercise my option. 

  

	4.	I have received a copy of the complete “Integrated Silicon Solution, Inc. 1993 Employee Stock Purchase Plan.” I understand that my participation in the Employee Stock
Purchase Plan is in all respects subject to the terms of the Plan. I understand that my ability to exercise the option under this Subscription Agreement is subject to obtaining stockholder approval of the Employee Stock Purchase Plan.

  

	5.	Shares purchased for me under the Employee Stock Purchase Plan should be issued in the name(s) of (Employee or Employee and spouse only):
                                        
                                        
                    . 

  

	6.	I understand that if I dispose of any shares received by me pursuant to the Plan within 2 years after the Enrollment Date (the first day of the Offering Period during which I
purchased such shares) or one year after the Exercise Date, I will be treated for federal income tax purposes as having received ordinary income at the time of such disposition in an amount equal to the excess of the fair market value of the shares
at 

  

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 the time such shares were purchased over the price which I paid for the shares. I HEREBY AGREE TO NOTIFY
THE COMPANY IN WRITING WITHIN 30 DAYS AFTER THE DATE OF ANY DISPOSITION OF MY SHARES AND I WILL MAKE ADEQUATE PROVISION FOR FEDERAL, STATE OR OTHER TAX WITHHOLDING OBLIGATIONS, IF ANY, WHICH ARISE UPON THE DISPOSITION OF THE COMMON STOCK. The
Company may, but will not be obligated to, withhold from my compensation the amount necessary to meet any applicable withholding obligation including any withholding necessary to make available to the Company any tax deductions or benefits
attributable to sale or early disposition of Common Stock by me. If I dispose of such shares at any time after the expiration of the 2-year and 1-year holding periods, I understand that I will be treated for federal income tax purposes as having
received income only at the time of such disposition, and that such income will be taxed as ordinary income only to the extent of an amount equal to the lesser of (1) the excess of the fair market value of the shares at the time of such disposition
over the purchase price which I paid for the shares, or (2) 15% of the fair market value of the shares on the first day of the Offering Period. The remainder of the gain, if any, recognized on such disposition will be taxed as capital gain.

  

	7.	I hereby agree to be bound by the terms of the Employee Stock Purchase Plan. The effectiveness of this Subscription Agreement is dependent upon my eligibility to participate in the
Employee Stock Purchase Plan. 

  

	8.	In the event of my death, I hereby designate the following as my beneficiary(ies) to receive all payments and shares due me under the Employee Stock Purchase Plan:

  

					
	NAME: (Please print)                                 
                                        
                                        
                                        
     
	                                       
                                     (First)  
                      (Middle)                 
       (Last)
			
	                                       
                                
 Relationship
	 	 	 	                                      
                                
			
	 	 	 	 	                                       
                                
 (Address)

			
	 Employee’s Social
 Security Number:

	 	 	 	                                      
                                
			
	Employee’s Address: 	 	 	 	                                      
                                

  

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 I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT SHALL REMAIN IN EFFECT THROUGHOUT SUCCESSIVE OFFERING PERIODS UNLESS
TERMINATED BY ME. 
  

					
	 Dated:
                                        
                                
	 	 	 	                                      
                                        
                         
	 	 	 	 	 Signature of Employee

			
	  	 	 	 	                                      
                                        
                         
	 	 	 	 	 Spouse’s Signature (If beneficiary is other than spouse)

  

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 EXHIBIT B 
  
 INTEGRATED SILICON SOLUTION, INC. 
  
 1993 EMPLOYEE STOCK PURCHASE PLAN 
  
 NOTICE OF WITHDRAWAL 
  
 The undersigned participant in the Offering Period of the Integrated Silicon Solution, Inc. 1993 Employee Stock Purchase Plan which began on
                    , 19         (the “Enrollment Date”) hereby notifies the Company
that he or she hereby withdraws from the Offering Period. He or she hereby directs the Company to pay to the undersigned as promptly as practicable all the payroll deductions credited to his or her account with respect to such Offering Period. The
undersigned understands and agrees that his or her option for such Offering Period will be automatically terminated. The undersigned understands further that no further payroll deductions will be made for the purchase of shares in the current
Offering Period and the undersigned shall be eligible to participate in succeeding Offering Periods only by delivering to the Company a new Subscription Agreement. 
  

			
	 	 	Name and Address of Participant:
		
	 	 	                                      
                                        
                          
		
	 	 	                                      
                                        
                          
		
	 	 	                                      
                                        
                          
		
	 	 	Signature:
		
	 	 	                                      
                                        
                          
		
	 	 	Date:                                    
                                        
                   

  

 A-13Amended and Restated 2003 Incentive Compensation Plan

 EXHIBIT 4.03 
  
 AMENDED AND RESTATED 
 2003 INCENTIVE COMPENSATION PLAN 
  
 Pursuant to a resolution of its board of directors, Environmental Power Corporation, a Delaware corporation, hereby adopts the Amended and Restated 2003 Incentive Compensation Plan, as follows: 
  
 ARTICLE 1 - PURPOSE 
  
 The purpose of the 2003 Incentive Compensation Plan (the “Plan”) is to align the
goals of Employees with the goals of the Company. 
  
 ARTICLE 2 -
DEFINITIONS 
  

	2.1	“Adjustment Factor” means, with respect to a Participant who is an Employee, the percentage determined in accordance with the following table: 

  

			
	 Base Pay

	  	Adjustment Factor %

	 $0 to $125,000
	  	80%
	 $125,001 to $199,999
	  	67%
	 $200,000+
	  	50%

  
 The Adjustment Factor
of a Participant who is a Director shall be 80%. 
  

	2.2	“Award Percentage” means, with respect to a Participant, the percentage described in Section 4.5. 

  

	2.3	(a) “Base Pay” means, with respect to a Participant who is an Employee, a Participant’s annual base salary, as in effect on April 1 of the calendar year in which the
Employee becomes a Participant, or such other date as may be specified by the Committee. 

  
 (b) With respect to a Participant who is a Director, “Base Pay” shall be deemed to be $2,000, multiplied by the number of Board of
Directors’ meetings which take place during the calendar year in which the Director becomes a Participant. 
  

	2.4	“Backlog” means projected revenues from the sale of Facilities for which the Company has binding commitments. The value of any generating assets associated with a Facility
for which the Company has a binding commitment for sale will also be included in Backlog. 

  

	2.5	“Board” means the board of directors of the Company. 

  

	2.6	“Change in Control” means: (a) a merger, reorganization or consolidation of the Company or Microgy as a result of which the holders of the Company’s outstanding Stock
immediately prior to the transaction hold less than a majority of the outstanding stock of the surviving entity immediately after the transaction, (b) the sale of all or substantially all of the assets of the Company to an unrelated person, (c) the
sale of all the Stock of the Company to an unrelated person or entity, or (d) any other transaction in which the owners of the Company’s outstanding voting power prior to such transaction do not own at least a majority of the outstanding voting
power of the relevant entity after the transaction. 

  

	2.7	“Code” means the Internal Revenue Code of 1986, as amended. 

  

	2.8	“Committee” means a committee of Directors designated by the Board to administer the Plan. The Committee shall be comprised of not less than such number of Directors as
shall be required to permit Incentive Compensation Awards granted under the Plan to qualify under Rule 16b-3, and each member of the Committee shall be a “non-employee director” within the meaning of Rule 16b-3 and an “outside
director” within the meaning of Section 162(m) of the Code. 

  

	2.9	“Company” means Environmental Power Corporation, a Delaware corporation, and any successor corporation. 

  

	2.10	“Director” means a member of the Board. 

	2.11	“Employee” means an individual who is a common law employee of the Company or Microgy. 

  

	2.12	“Fair Market Value” means, with respect to any property (including, without limitation, any shares of Stock or other securities), the fair market value of such property
determined by such method or procedures as shall be established from time to time by the Committee. Notwithstanding the foregoing, unless otherwise determined by the Committee, the Fair Market Value of any shares of Stock as of a given date shall be
determined as follows: 

  
 (a) if the Stock is then
listed on a national securities exchange, the NASDAQ National Market or any other exchange or system reporting a closing price, the closing price of a share of the Stock on such date; 
  
 (b) if the Stock is not then so listed or reported but traded on the OTC Bulletin Board or the Bulletin Board Exchange, the
average closing bid and asked prices of a share of Stock on such date; or 
  
 (c) in all other cases, the fair market value per share of Stock, as estimated in good faith by the Committee. 
  

	2.13	“Final Milestone” means the goal described in Section 4.1(c). 

  

	2.14	“401(k) Plan” means the Environmental Power Corporation 401(k) Savings Plan, together with any and all supplements, schedules and amendments thereto that may be in effect.

  

	2.15	“Incentive Compensation Award” means an amount awarded under Article 4. 

  

	2.16	“Microgy” means Microgy Cogeneration Systems, Inc. 

  

	2.17	“Milestone” means a Regular or Final Milestone. 

  

	2.18	“Milestone Completion Date” means the date on which a particular Milestone is targeted for achievement or completion as set forth in Sections 4.1(b) and 4.1(c) of the
Plan. 

  

	2.19	“Regular Milestone” means each of the goals described in Section 4.1(b). 

  

	2.20	“Participant” means an Employee or Director who participates in the Plan in accordance with Section 3.1. 

  

	2.21	“Plan” means the 2003 Incentive Compensation Plan as set forth herein, together with any and all supplements, schedules and amendments hereto that may be in effect.

  

	2.22	“Product Sales” means sales of Facilities and associated generating assets. 

  

	2.23	“Rule 16b-3” shall mean Rule 16b-3 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, or any successor rule or regulation.

  

	2.24	“Stock” means the common stock, $0.01 per value, of the Company. 

  
 ARTICLE 3 - PARTICIPATION 
  

	3.1	2003 Employees. Each individual who is an Employee or Director on June 1, 2003 is eligible to participate in the Plan. Each Employee or Director can join the Plan in
accordance with the administrative procedures established by the Company. As a result of participating in the Plan, a Participant’s compensation shall be adjusted. With respect to each individual who is an Employee or Director as of June 1,
2003, the effective date of any such adjustment shall be July 1, 2003. An individual who is an Employee or Director on June 1, 2003 and who does not join the Plan on July 1, 2003 shall be prohibited from joining the Plan at a later date, and shall
not have any rights hereunder. 

  

	3.2	Future Employees. Employees first employed after June 1, 2003 may be allowed to participate in the Plan, subject to the terms and conditions hereof, with the approval of the
Committee. 

  
 ARTICLE 4 - INCENTIVE COMPENSATION

  

	4.1	Milestones – General. The Plan is based upon the achievement of Milestones. The determination of whether a Milestone has been completed shall be within the sole
discretion of the Committee. 

  

	 	(a)	For purposes of this section, the following definitions shall apply: 

  

	 	(i)	“Facility” means an anaerobic digestion facility that is developed as part of the business development plan of Microgy. 

  

	 	(ii)	“Positive cash flow” means that cash receipts exceed cash operating expenditures. 

  

 2 

	 	(b)	The Regular Milestones are: 

  

	 	(i)	The Company has commenced construction of a Facility on or before October 30, 2003; 

  

	 	(ii)	The Company has commenced construction of three or more Facilities on or before December 31, 2003; 

  

	 	(iii)	The Company has achieved Backlog of at least $10.8 million by March 31, 2004; 

  

	 	(iv)	The Company has commenced construction of a total of (1) either five or more Facilities or (2) Facilities contributing an aggregate of at least $10.8 million to Backlog on or before
June 30, 2004; 

  

	 	(v)	The first Facility is operating at 90% or greater of its planned capacity on or before August 31, 2004; and 

  

	 	(vi)	The Company recognizes $10.8 million of revenue in 2004 from product sales. 

  

	 	(c)	The Final Milestone is: the Company achieves positive cash flow on or before June 30, 2005, which the Committee determines, based on the Backlog of Facility projects, is sustainable
for a period of not less than one year. For this purpose, a Backlog of $25 million (which equals the Company’s projected Product Sales revenue from June 2005 – May 2006) shall be deemed sufficient to create positive cash flow that is
sustainable for one year. 

  

	4.2	Regular Milestone Award. Upon substantial completion of each Regular Milestone, a Participant shall earn an Incentive Compensation Award equal to his Base Pay multiplied by
his Award Percentage. 

  

	 	(a)	If the Milestone is substantially complete within 15 days of the applicable Milestone Completion Date, the Award Percentage will be multiplied by seventy-five percent (75%).

  

	 	(b)	If the Milestone is substantially complete with in one month of the applicable Milestone Completion Date, the Award Percentage will be multiplied by fifty percent (50%).

  

	 	(c)	If the milestone is substantially complete with in two months of the applicable Milestone Completion Date, the Award Percentage will be multiplied by twenty-five percent (25%).

  

	4.3	Final Milestone Award. Upon substantial completion of the Final Milestone, each Participant shall earn an Incentive Compensation Award equal to 2.5 times the sum of the
Regular Milestone awards he has earned, multiplied by the ratio of the Stock price at the time of award to $1.50. 

  

	4.4	Eligibility For an Award of Incentive Compensation. (a) Subject to subsection (b), a Participant shall be entitled to an Incentive Compensation Award with respect to a
Milestone only if he has been an Employee for at least 90 days. 

  

	 	(b)	A Participant who terminates employment with, or ceases to be a Director of, the Company or Microgy on or before the 30-day period preceding the completion of a Milestone shall not
be eligible for an Incentive Compensation Award with respect to such Milestone. 

  

	4.5	Determination of Award Percentage; Notice. The Award Percentage is the product of: 

  

	 	(a)	the Participant’s Adjustment Factor, and 

  

	 	(b)	(i) with respect to a Participant who is an Employee, a percentage between 6.25% and 30% which the Company, in its sole discretion, shall determine with respect to each Employee,
and 

  
 (ii) with respect to a Participant who is a
Director, a percentage between 1% and 100%, which the Company, in its sole discretion, shall determine with respect to each Director. 
  
 A Participant’s Award Percentage shall be determined before the date on which the Participant joins the Plan. When a Participant joins the Plan, the
Company shall notify the Participant of his Award Percentage and the amount to which he is entitled if and when each Milestone is successfully completed. The amount of each Participant’s Award Percentage is set forth in Appendix A to the Plan.

  

	4.6	Time and Manner of Payment. 

  

	 	(a)	(i) Subject to paragraph (ii) and the following subsections of this section, the Incentive Compensation Award of a Participant who is an Employee shall be made, at the discretion of
the Committee: 

  

	 	(A)	to the Participant’s account under the 401(k) Plan, which contribution shall be subject to the terms of the 401(k) Plan; or 

  

	 	(B)	in the form of restricted Stock, pursuant to and subject to the provisions of Article 5. 

  
 (ii) In no event shall a Participant’s annual contribution under the 401(k) Plan exceed the maximum amount permitted
under Section 401(a) of the Code with respect to the 401(k) Plan. 
  

	 	(b)	With respect to the Final Milestone, the excess, if any, of a Participant’s Incentive Compensation Award over the limit described in subsection (a)(ii) may, at the sole
discretion of the Committee, be paid in the form of restricted Stock, pursuant to and subject to the provisions of Article 5, or as a cash bonus in accordance with Section 4.8. 

  

 3 

	 	(c)	With respect to a Participant who is a Director, the Company shall provide the Director’s Incentive Compensation Award (if any) in the form of restricted Stock pursuant to and
subject to the provisions of Article 5, except that the Committee, in its sole discretion, may provide all or part of a Director’s Incentive Compensation Award relating to the Final Milestone as a cash bonus in accordance with Section 4.7.

  

	4.7	Bonuses. Any cash bonuses payable under the Plan shall be paid in increments of 12.5% each calendar quarter beginning June 30, 2005 and ending March 31, 2007.

  
 ARTICLE 5 - RESTRICTED STOCK GRANTS 
  

	5.1	Restricted Stock Grants. The Committee is hereby authorized to make grants of restricted Stock to Participants in accordance with the provisions of the Plan, having the terms
and conditions set forth below and with such additional conditions not inconsistent with the provisions of the Plan as the Committee shall determine. 

  

	 	(a)	Number of Shares. To the extent any Incentive Compensation Award is to be paid in shares of restricted Stock in accordance as determined pursuant to Article 4, the dollar
amount of such Incentive Compensation Award to be so paid shall be used to determine the number of shares to be issued as restricted Stock at the time of award, by reference to the Fair Market Value of the Stock at the time of the award.

  

	 	(b)	Vesting. Any restricted Stock grants made under the Plan shall vest in increments of 25% per calendar quarter beginning June 30, 2005 and ending March 31, 2006, based on the
Participant’s employment with the Company or Microgy, or, in the case of a Director, service as Director. 

  

	 	(c)	Stock Certificates. Any certificates representing restricted Stock grants under the Plan shall be registered in the name of the Participant and shall bear an appropriate
legend referring to the terms, conditions and restrictions applicable to such shares of restricted Stock. 

  

	 	(d)	Forfeiture. Except as otherwise determined by the Committee, upon termination of employment (as determined under criteria established by the Committee during the applicable
restriction period), all shares of restricted Stock subject to restriction at such time shall be forfeited and reacquired by the Company; provided, however, that the Committee may, when it finds that a waiver would be in the best
interest of the Company, waive in whole or in part any or all remaining restrictions with respect to such shares of restricted Stock. 

  

	5.2	Other Terms. 

  

	 	(a)	Cash Consideration for Restricted Stock Grants. Grants of restricted Stock under the Plan shall be granted for no cash consideration or for such minimal cash consideration as
may be required by applicable law. 

  

	 	(b)	Limitations on Transfer of Restricted Stock. No shares of restricted Stock shall be transferable by a Participant (otherwise than by will or by the laws of descent and
distribution), nor may any Participant pledge, alienate or encumber any such shares, until all restrictions thereon have lapsed, and the Company shall not be required to recognize any attempted transfer, pledge, alienation or encumbrance in
violation of this Section 5.2(b). 

  

	5.3	Adjustments. If any dividend or other distribution (whether in the form of cash, Stock, other securities or other property), recapitalization, stock split, reverse stock
split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase or exchange of Stock or other securities of the Company, issuance of warrants or other rights to purchase Stock or other securities of the Company or other
similar corporate transaction or event affecting the Shares dilutes or enlarges the benefits or potential benefits under the Plan, the Committee shall appropriately adjust either number or the type of the Company’s securities subject to this
Plan, or both, or any existing Incentive Compensation Award. 

  
 ARTICLE 6 - ADMINISTRATION 
  

	6.1	Power and Authority of the Committee. The Plan shall be administered by the Committee. Subject to the provisions of the Plan and to applicable law, the Committee shall have
full power and authority to: (i) designate future Participants; (ii) determine the Award Percentage of each Participant; (iii) determine whether, to what extent and under what circumstances Incentive Compensation Awards may be awarded in cash or in
Stock; (iv) interpret and administer the Plan and any instrument or agreement relating to the Plan; (v) establish, amend, suspend or waive such rules and regulations and appoint such agents as it shall deem appropriate for the proper administration
of the Plan; and (vi) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan. Unless otherwise expressly provided in the Plan, all designations, determinations,
interpretations and other decisions under or with respect to the Plan or any Incentive Compensation Award shall be within the sole discretion of the Committee, may be made at any time and shall be final, conclusive and binding upon each Participant.

  

 4 

	6.2	Delegation. The Committee may delegate its powers and duties under the Plan to one or more Directors, subject to such terms, conditions and limitations as the Committee may
establish in its sole discretion. 

  

	6.3	Power and Authority of the Board of Directors. If the Committee has not been designated, the Board shall exercise the powers and duties of the Committee under the Plan.
Notwithstanding anything to the contrary contained herein, the Board may, at any time and from time to time, without any further action of the Committee, exercise the powers and duties of the Committee under the Plan. 

  
 ARTICLE 7 - MISCELLANEOUS 
  

	7.1	Settlement. Subject to Section 4.6, the Committee shall determine whether Incentive Compensation Awards are paid in whole or in part in cash or in Stock.

  

	7.2	Change in Control. Subject to the terms of the 401(k) Plan and of restricted Stock awards issued pursuant to Article 5, upon a Change in Control: 

  

	 	(a)	Any Milestone, the targeted completion date of which is during the 125 -consecutive day period commencing 62 days before the Change in Control, shall be deemed to be completed;

  

	 	(b)	Any and all outstanding awards of restricted Stock under Article 5 shall become fully vested; 

  

	 	(c)	Any and all cash bonuses previously awarded hereunder shall become immediately due and payable to each Participant notwithstanding Section 4.7; and 

  

	 	(d)	The Board, shall take one, and not more than one, of the following actions as selected by the Board: 

  

	 	(i)	Cause the liability associated with the then unachieved Milestones (other than a Milestone described in subsection (a)), the targeted completion date of which is after the Change in
Control, to be accelerated. The amount payable to a Participant under this paragraph shall be equal to the present value of the amount to which the Participant would be entitled if each such Milestone were complete, payable in cash or restricted
Stock. For this purpose, present value shall be determined based on an interest rate of 7.5%; 

  

	 	(ii)	Cause the Plan to be assumed, or substantially equivalent new rights to be substituted therefore, by another entity; or 

  

	 	(iii)	Cause the Plan to be assumed, subject to the following modification: Incentive Compensation Awards that relate to any unachieved Milestone (other than a Milestone described in
subsection (a)), the targeted completion date of which is after the Change in Control, shall be payable as follows: 

  

	 	(A)	with respect to a Milestone that is actually completed, in accordance with the terms of the Plan; and 

  

	 	(B)	with respect to a Milestone that is not actually completed, as in such Milestone had been achieved but at 50% of the amount which Participant would otherwise have been entitled in
accordance with the terms of the Plan. 

  

	7.3	No Right to Employment. The provision of an Incentive Compensation Award shall not be construed as giving a Participant the right to continue employment. The Company
expressly reserves the right at any time to dismiss a Participant free from any liability or claim under the Plan. 

  

	7.4	Amendments. 

  

	 	(a)	The Board may amend, suspend or terminate the Plan or any portion thereof at any time, subject to any stockholder approval that the Board determines to be necessary or advisable.
Except as otherwise expressly provided herein, no amendment, modification, suspension or termination of the Plan shall alter the rights of any Participant existing at such time with respect to an Incentive Compensation Award.

  

	 	(b)	The Committee may waive any conditions of or rights of the Company under any outstanding Incentive Compensation Award, prospectively or retroactively. Except as otherwise provided
in the Plan or the provisions of the Incentive Compensation Award, the Committee may not amend, alter, suspend, discontinue or terminate any outstanding Incentive Compensation Award if such action would adversely affect the rights of the holder
thereof, without the consent of the holder thereof. 

  

	7.5	Construction. 

  

	 	(a)	The provisions of the Plan shall be construed, administered and enforced according to the laws of the United States of America insofar as they may be applicable, and otherwise
according to the laws of Delaware. 

  

	 	(b)	The masculine gender shall include both sexes and the singular shall include the plural and the plural the singular, unless the context otherwise requires. 

 

 5 

	 	(c)	The Committee may correct any defect, supply any omission or reconcile any inconsistency in the Plan or any Incentive Compensation Award in the manner an to the extent it shall deem
desirable, in its sole discretion, to carry the purposes and intents of the Plan into effect. 

  

	 	(d)	In the event that any provision of an Incentive Compensation Award conflicts with or is inconsistent in any respect with the terms of the Plan as set forth herein or as subsequently
amended, the terms of the Plan shall control. 

  

	7.6	Issuance of Shares. The aggregate number of shares of Stock that may be issued under the Plan is 2,000,000. If any shares of Stock to which an Incentive Compensation Award
relates are not purchased or are forfeited, or if an Incentive Compensation Award otherwise terminates without delivery of any shares of Stock, the number of shares of Stock counted against the aggregate number of shares available under the Plan
with respect to such Incentive Compensation Award, to the extent of any such forfeiture or termination, shall again be available for award under the Plan. 

  

	7.7	No Fractional Shares. No fractional shares of Stock shall be issued or delivered pursuant to the Plan, and the Committee shall determine whether cash shall be paid in lieu of
any fractional shares of Stock or any rights thereto shall be cancelled, terminated or otherwise eliminated. 

  

	7.8	Section 162(m). To the extent that Incentive Compensation Awards provided hereunder constitute remuneration (within the meaning of Section 162(m)(4)(E) of the Code), this
Plan is intended to provide for qualified performance-based compensation (within the meaning of Section 162(m)(4)(C) of the Code). 

  

	7.9	Restrictions; Securities Exchange Listing. All shares of Stock delivered under the Plan shall be subject to such restrictions as the Committee may deem advisable under the
Plan, applicable federal or state securities laws and regulatory requirements, and the Committee may cause appropriate entries to be made or legends to be affixed to reflect such restrictions. If any securities of the Company are listed for trading
on a securities exchange or automated quotation system, the Company shall not be required to deliver any shares of Stock under the Plan unless and until such shares have been listed for trading on such securities exchange or automated quotation
system. 

  

	7.10	Income Tax Withholding. In order to comply with all applicable federal or state income tax laws or regulations, the Company may take such action as it deems appropriate to
ensure that all applicable federal or state payroll, withholding, income or other taxes, which are the sole and absolute responsibility of the Participant, are withheld or collected from the Participant. In order to assist a Participant in paying
all or a portion of the federal and state taxes to be withheld or collected upon receipt of (or the lapse of restrictions relating to) an Incentive Compensation Award, the Committee, in its sole discretion and subject to such additional terms and
conditions as it may adopt, may permit the Participant to satisfy such obligation by (i) electing to have the Company withhold a portion of the shares of Stock otherwise to be delivered upon receipt of (or the lapse of restrictions relating to) an
Incentive Compensation Award with a Fair Market Value equal to the amount of such taxes or (ii) delivering to the Company shares of Stock (other than shares of Stock to be delivered upon receipt of (or the lapse of restrictions relating to) an
Incentive Compensation Award ) with a Fair Market Value equal to the amount of such taxes. The election, if any, must be made on or before the date that the amount of tax to be withheld is determined. 

  
 ADOPTED AND APPROVED by the Board of Directors of Environmental Power
Corporation on June 12, 2003. 
  
 ADOPTED AND APPROVED by the
Stockholders of Environmental Power Corporation on July 25, 2003. 
  
 AMENDED AND RESTATED by the Board of Directors of Environmental Power Corporation on March 15, 2004. 
  
 *** 
  
 APPENDIX A 
  
 [RESERVED] 
  

 6

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