Document:

Exhibit 10.1

 

FRANCESCA’S COLLECTIONS, INC.

 

August 14, 2015

 

Re: Transition Agreement

 

Dear Sei Jin:

 

This letter agreement (this “Agreement”)
hereby amends and restates in its entirety that certain letter agreement entered into by and between you and Francesca’s
Collections, Inc., a Texas corporation (the “Company”), dated as of December 28, 2012 (the “Prior Letter
Agreement”). In accordance with your request to depart the Company for personal reasons, and subject to the terms and
conditions of this Agreement, the Company desires to provide for your transition from employment with the Company. In consideration
of the mutual covenants undertaken and releases contained in this Agreement, you and the Company acknowledge and agree as follows:

 

1.          Transition.

 

(a)          Cooperation.
You represent and agree that you shall continue to serve as the Company’s Chief Merchandising Officer, reporting to the Company’s
Chief Executive Officer through November 20, 2015 (the “Separation Date”). Until the Separation Date, you agree
to (i) devote substantially all of your business time, energy and skill to the performance of your duties for the Company,
(ii) perform such duties in a faithful, effective and efficient manner, (iii) hold no other employment and (iv) cooperate
fully with the Company with respect to transitioning your duties, including finalizing the business plan for the remainder of 2015
and implementing a plan for spring of 2016.

 

(b)          Compensation.
Until the Separation Date, you will continue to be paid your current salary and benefits in accordance with the Company’s
regular payroll practices.

 

(c)          Stock
Options, Equity or Equity-Based Awards. All unvested equity awards granted to you by the Company outstanding on the Separation
Date will be forfeited on that date and, in the case of unvested shares, will be transferred back to the Company without payment
on that date. In consideration for the releases and covenants by you in this Agreement and provided that you fulfill your obligations
to the Company set forth in Section 1(a) through the Separation Date, you will be granted an award of 12,000 restricted shares
of the Company’s common stock in accordance with the Francesca’s Holdings Corporation 2015 Equity Incentive Plan Restricted
Stock Award Agreement of even date herewith, attached hereto as Exhibit A, such grant to be effective on or about the Separation
Date and subject to approval of the Compensation Committee of the Company’s Board of Directors. You agree that if you breach
this Agreement, including, but not limited to, Sections 1(a), 1(e), and 4, such restricted shares, to the extent then outstanding
and unvested, will be forfeited and transferred back to the Company without payment.

 

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(d)          Benefits
upon Separation. On or within 30 days following your Separation Date, the Company will pay you your accrued and unused vacation
(if any), and you will be entitled to any benefits that are due to you under the Company’s 401(k) plan in accordance with
the terms of that plan. As of the Separation Date, your participation in all other Company benefit plans, including the Company’s
group health and dental insurance plans, shall cease. You will receive a notice regarding the terms of continuation of coverage
under the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”). You will be eligible to participate
in COBRA for a period of up to eighteen (18) months. If you choose to participate in COBRA, you will be responsible for all COBRA
payment premiums.

 

(e)          Consulting
Agreement. You agree that from November 21, 2015 through November 20, 2016 (the “Consulting Term”), at the
Company’s request, you will perform up to twenty (20) hours of consulting services per month for the Company via telephone
and electronic mail, with respect to merchandising matters and other matters within your expertise, services in connection with
transition and continuity and such other matters as you and the Company may agree upon (the “Consulting Services”).
You agree that you will perform the Consulting Services in a diligent, effective and good faith manner, to the best of your abilities.
The Company will pay you for the Consulting Services Three Hundred Ninety-Six Thousand Three Hundred Dollars and No Cents ($396,300.00)
in equal monthly installments of Thirty-Three Thousand Twenty-Five Dollars and No Cents ($33,025.00) during the Consulting Term
(the “Consulting Payments”). Notwithstanding the foregoing, if you breach any obligation under Section 4 below,
from and after the date of such breach and not in any way in limitation of any right or remedy otherwise available to the Company,
the Consulting Agreement provided for in this Section 1(e) will terminate immediately and the Company will no longer be obligated
to pay any remaining Consulting Payments. During the Consulting Term, you shall operate and have the status of an independent contractor
and be classified by the Company as such for all purposes, and you shall not act as or be an agent or employee of the Company.
You acknowledge and agree that you will have no authority during the Consulting Term to enter into contracts that bind the Company
or create obligations on the part of the Company. All of your activities in connection with the Consulting Services will be at
your own risk and liability, and you shall not be entitled to workers’ compensation or other insurance protection or benefits
provided by the Company or any of its affiliates. You shall be responsible for the payment of all insurance, fees, licenses, costs,
equipment, and expenses associated with the Consulting Services, in addition to all taxes associated with the Consulting Services
and the Consulting Payments and you agree to indemnify, defend and hold the Company harmless therefrom. During the Consulting Term,
you shall not be entitled to and hereby waive any right to receive benefits or payments that are made available to employees of
the Company or any of its affiliates. Nothing in this Agreement shall be interpreted or construed as creating or establishing an
employment relationship between you and the Company at any time after the Separation Date.

 

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2.          Limitation
on Benefits. Notwithstanding anything contained in this Agreement to the contrary, to the extent that any payment, benefit
or distribution of any type to you or for your benefit by the Company or any of its affiliates, whether paid or payable, provided
or to be provided, or distributed or distributable pursuant to the terms of this Agreement or otherwise (collectively, the “Total
Payments”) would be subject to the excise tax imposed under Section 4999 of the Internal Revenue Code of 1986, as
amended (the “Code”), then the Total Payments shall be reduced (but not below zero) so that the maximum amount
of the Total Payments (after reduction) shall be one dollar ($1.00) less than the amount that would cause the Total Payments to
be subject to the excise tax imposed by Section 4999 of the Code. Unless you shall have given prior written notice to the
Company to effectuate a reduction in the Total Payments if such a reduction is required, any such notice consistent with the requirements
of Section 409A of the Code to avoid the imputation of any tax, penalty or interest thereunder, the Company shall reduce or
eliminate the Total Payments 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
latest in time. The preceding provisions of this Section 2 shall take precedence over the provisions of any other plan, arrangement
or agreement governing your rights and entitlements to any benefits or compensation.

 

3.          Section 409A.
It is intended that any amounts payable under this Agreement and the Company’s and your exercise of authority or discretion
hereunder shall comply with and avoid the imputation of any tax, penalty or interest under Section 409A of the Code. This
Agreement shall be construed and interpreted consistent with that intent.

 

4.          Protective
Covenants.

 

(a)          Confidential
Information and Company Property.

 

(i)          You
shall not disclose or use at any time, either before or after the Separation Date, any Trade Secrets and Confidential Information
(as defined below) of which you become aware, whether or not such information is developed by you, except to the extent that such
disclosure or use is directly related to and required by your performance in good faith of duties for the Company. You will take
all appropriate steps to safeguard Trade Secrets and Confidential Information in your possession and to protect it against disclosure,
misuse, espionage, loss and theft. You shall deliver to the Company on or before the Separation Date, or at any time the Company
may request, all memoranda, notes, plans, records, reports, computer tapes and software and other documents and data (and copies
thereof) relating to the Trade Secrets and Confidential Information or the Work Product (as defined below) of the business of the
Company or any of its affiliates, and computers, printers, telephones, and any other electronic devices that are owned or leased
by the Company in connection with the conduct of the business of the Company, which you may then possess or have under your control.

 

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(ii)         For
purposes of this Agreement, “Trade Secrets and Confidential Information” means information that is not generally
known to the public and that is used, developed or obtained by the Company in connection with its business, including, but not
limited to, information, observations and data obtained by you while employed by the Company or any predecessors thereof concerning
(i) the business or affairs of the Company (or such predecessors), (ii) products or services, (iii) fees, costs
and pricing structures, (iv) designs, (v) analyses, (vi) drawings, photographs and reports, (vii) computer
software, including operating systems, applications and program listings, (viii) flow charts, manuals and documentation, (ix) data
bases, (x) accounting and business methods, (xi) inventions, devices, new developments, methods and processes, whether
patentable or unpatentable and whether or not reduced to practice, (xii) vendors, customers and clients and vendor, customer
or client lists, (xiii) other copyrightable works, (xiv) all production methods, processes, technology and trade secrets,
and (xv) all similar and related information in whatever form. Trade Secrets and Confidential Information will not include
any information that has been published (other than a disclosure by you in breach of this Agreement) in a form generally available
to the public prior to the date you propose to disclose or use such information. Trade Secrets and Confidential Information will
not be deemed to have been published merely because individual portions of the information have been separately published, but
only if all material features comprising such information have been published in combination.

 

(iii)        For
purposes of this Agreement, “Work Product” means all inventions, innovations, improvements, technical information,
systems, software developments, methods, designs, analyses, drawings, reports, service marks, trademarks, trade names, logos and
all similar or related information (whether patentable or unpatentable, copyrightable, registerable as a trademark, reduced to
writing, or otherwise) that relates to the Company’s or any of its affiliates’ actual or anticipated business, research
and development or existing or future products or services and that are conceived, developed or made by you (whether or not during
usual business hours, whether or not by the use of the facilities of the Company or any of its affiliates, and whether or not alone
or in conjunction with any other person) while employed by the Company (including those conceived, developed or made prior to the
Effective Date of this Agreement (as defined below)) together with all patent applications, letters patent, trademark, trade name
and service mark applications or registrations, copyrights and reissues thereof that may be granted for or upon any of the foregoing.
All Work Product that you may have discovered, invented or originated during your employment by the Company or any of its affiliates
prior to the date hereof, that you may discover, invent or originate during your employment or at any time following your separation
from employment with the Company, shall be the exclusive property of the Company and its affiliates, as applicable, and you hereby
assign all of your right, title and interest in and to such Work Product to the Company or its applicable affiliate, including
all intellectual property rights therein. You shall promptly disclose all Work Product to the Company, shall execute at the request
of the Company any assignments or other documents the Company may deem necessary to protect or perfect its (or any of its affiliates’,
as applicable) rights therein, and shall assist the Company, at the Company’s expense, in obtaining, defending and enforcing
the Company’s (or any of its affiliates’, as applicable) rights therein. You hereby appoint the Company as your attorney-in-fact
to execute on your behalf any assignments or other documents deemed necessary by the Company to protect or perfect the Company,
the Company’s (and any of its affiliates’, as applicable) rights to any Work Product.

 

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(b)          Restriction
on Competition. During your employment with the Company and twelve (12) months following the Separation Date (the “Restricted
Period”), you shall not directly or indirectly, individually or on behalf of any other person or entity, manage, participate
in, work for, consult with, render services for or take an interest in (as an owner, stockholder, partner or lender) any Competitor.
For purposes of this Agreement, “Competitor” means a Person anywhere in North America (the “Restricted
Area”) that at any time during the period of time during which you are employed by the Company, or any time during the
Restricted Period engages in the business of operating retail stores and/or websites for the sale of women’s apparel, jewelry,
accessories, gifts, greeting cards, picture frames and related items or any other business that the Company is engaged in, or reasonably
anticipates becoming engaged in. The parties hereto agree that the Company intends to engage in business throughout the Restricted
Area, even if it does not currently do so, and therefore its scope is reasonable. Nothing herein shall prohibit you from being
a passive owner of not more than 2% of the outstanding stock of any class of a corporation that is publicly traded, so long as
you have no active participation in the business of such corporation. The term “Person” as used in this Agreement
shall be construed broadly and shall include, without limitation, an individual, a partnership, a limited liability company, a
corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental
entity or any department, agency or political subdivision thereof.

 

(c)          Non-Solicitation
of Employees and Consultants. During your employment with the Company and during the Restricted Period, you will not, and should
be enjoined (if necessary) from being able to directly or indirectly through any other Person: (i) induce or attempt to induce
any employee or independent contractor of the Company or any affiliate of the Company to leave the employ or service, as applicable,
of the Company or such affiliate, or in any way interfere with the relationship between the Company or any such affiliate, on the
one hand, and any employee or independent contractor thereof, on the other hand, or (ii) hire any person who was an employee
of the Company or any affiliate of the Company until twelve (12) months after such individual’s employment relationship
with the Company or such affiliate has been terminated.

 

(d)          Non-Solicitation
of Customers and Vendors. During your employment with the Company and during the Restricted Period, you will not, and should
be enjoined (if necessary) from being able to directly or indirectly through any other Person: (i) influence or attempt to
influence customers, vendors, suppliers, licensors, lessors, joint venturers, associates, consultants, agents, or partners of the
Company or any affiliate of the Company to divert their business away from the Company or such affiliate; and (ii) interfere
with, disrupt or attempt to disrupt the business relationships, contractual or otherwise, between the Company or any affiliate
of the Company, on the one hand, and any of its or their customers, suppliers, vendors, lessors, licensors, joint venturers, associates,
officers, employees, consultants, managers, partners, members or investors, on the other hand.

 

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(e)          Non-Disparagement.
You agree that you will not disparage, ridicule or criticize the Company or its affiliates and its and their present and former
employees, directors and officers, or make any remarks or statements that could reasonably be construed as disparaging, ridiculing
or criticizing any of them; provided, however, the foregoing shall not prohibit you from giving truthful testimony
in any legal proceeding pending before any agency or court of the United States or state government or in any arbitration proceeding
relating to this Agreement.

 

(f)          Non-Publication.
You agree that you will not disclose or allow disclosure of any information about the Company or its affiliates or its or their
present or former officers, directors, managers, supervisors, employees, attorneys, agents or representatives, or legal matters
involving the Company and resolution thereof, or any aspects of your employment with or separation from employment with the Company,
to any reporter, author, producer or similar person or entity, or take any other action likely to result in such information being
made available to the general public in any form, including, without limitation, books, articles or writings of any kind, as well
as film, videotape, television or other broadcasts, audio tape, electronic/internet format or any other medium. You further agree
that you will not use or take any action likely to result in the use of any of the Company’s names or any abbreviation thereof
in connection with any publication to the general public in any medium. Notwithstanding anything to the contrary contained herein,
the foregoing restriction shall not apply to any biography or résumé disclosure regarding your employment at the
Company.

 

(g)          Understanding
of Covenants. You acknowledge and agree that the Company would not have entered into this Agreement but for your agreements
herein. You agree that the foregoing covenants set forth in this Section 4 (the “Restrictive Covenants”)
are reasonable, including in temporal and geographical scope, and in all other respects, and necessary to protect the Company’s
and its affiliates’ Trade Secrets and Confidential Information, goodwill, stable workforce and customer relations. The parties
hereto intend that Restrictive Covenants shall be deemed to be a series of separate covenants, one for each county or province
of each and every state or jurisdiction within the Restricted Area and one for each month of the Restricted Period. You understand
that the Restrictive Covenants may limit your ability to earn a livelihood in a business similar to the business of the Company
and any of its affiliates, but you nevertheless believe that you have received and will receive sufficient consideration and other
benefits as an employee of the Company and as otherwise provided hereunder or as described in the recitals hereto to clearly justify
such restrictions, which, in any event (given your education, skills and ability), you do not believe would prevent you from otherwise
earning a living. You agree that the Restrictive Covenants do not confer a benefit upon the Company disproportionate to your detriment.

 

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(h)          Enforcement.
You agree that a breach by you of any of the covenants in this Section 4 would cause immediate and irreparable harm to the
Company that would be difficult or impossible to measure, and that damages to the Company for any such injury would therefore be
an inadequate remedy for any such breach. Therefore, you agree that in the event of any breach or threatened breach of any provision
of this Section 4, the Company shall be entitled, in addition to and without limitation upon all other remedies the Company
may have under this Agreement, at law or otherwise, to obtain specific performance, injunctive relief and/or other appropriate
relief (without posting any bond or deposit) in order to enforce or prevent any violations of the provisions of this Section 4,
or require you to account for and pay over to the Company all compensation, profits, moneys, accruals, increments or other benefits
derived from or received as a result of any transactions constituting a breach of this Section 4, if and when final judgment
of a court of competent jurisdiction is so entered against you.

 

5.          General
Release. In consideration for the promises and covenants of the Company contained herein, you, on behalf of yourself and
your present or former descendants, dependents, successors, heirs, assigns, agents, personal representatives, executors and administrators
(collectively, the “Releasors”), to the fullest extent permitted by law, fully releases and discharges the Company
and any and all of the Company’s predecessors, successors, subsidiaries, parents, branches, divisions, affiliates and related
entities, and its and their respective present and former officers, directors, managers, supervisors, employees, attorneys, agents
and representatives (collectively, the “Releasees”), from and with respect to any and all claims, actions, suits, liabilities,
damages, debts, dues, sums of money, including attorneys’ or legal fees and costs and demands whatsoever, in law or in equity,
whether known or unknown, suspected or unsuspected, which the Releasors ever had or now have, at any time prior to the Effective
Date of the Agreement (as defined below), including, without limitation, any claims arising out of, concerning or relating to your
employment and/or separation from employment with the Company; this Agreement; the Prior Letter Agreement; compensation, wages,
salary, stock options or other equity or equity-based awards, severance pay, contract pay, vacation pay, paid time off (PTO) pay,
fringe and aggregate benefits, benefits allowances, bonuses, commissions, sick pay, personal leave pay, insurance, medical benefits,
retirement benefits, welfare benefits or any other benefits of any kind or nature; any contract, whether oral or written, express
or implied; tort, including defamation, libel, slander, negligent termination, wrongful discharge, or unpaid wages, whether intentional
or negligent; any and all terms and conditions of employment, including, without limitation, hiring, training, recruiting, promotion,
assignment, discipline or termination; common law or public policy; harassment, discrimination or retaliation; Title VII of the
Civil Rights Act of 1964, the Civil Rights Act of 1866, the Civil Rights Act of 1991, the Equal Pay Act, the Americans with Disabilities
Act, the Rehabilitation Act, the Age Discrimination in Employment Act (the “ADEA”), the Older Worker’s Benefit
Protection Act, the Worker Adjustment and Retraining Notification Act, the Family and Medical Leave Act, the Fair Labor Standards
Act, the Employment Retirement Income Security Act, the Fair Credit Reporting Act, the Texas Labor Code, the Uniform Commercial
Code, the United States Constitution, and the State of Texas Constitution, all as amended, if applicable; and other federal, state,
county or municipal statutes, regulations or ordinances.

 

6.          ADEA
Waiver. You acknowledge and agree that, by entering into this Agreement, you are waiving any and all rights or claims that
you may have under the ADEA, which have arisen on or before the Effective Date of this Agreement (as defined below). You also expressly
acknowledge and agree that:

 

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(a)          In
return for this Agreement, you will receive consideration, i.e., something of value beyond that to which you were already entitled
before entering into this Agreement;

 

(b)          You
are hereby advised in writing by this Agreement to consult with an attorney before signing this Agreement and in fact did so;

 

(c)          You
have twenty-one (21) days from the date on which you receive this Agreement within which to consider this Agreement (although you
need not take all twenty-one (21) days and may choose to voluntarily execute this Agreement earlier); and

 

(d)          You
have seven (7) days following the date that you execute this Agreement (the “Revocation Period”) in which to
revoke this Agreement. To be effective, such revocation must be in writing and delivered to the Company (c/o Kal Malik, Chief Administrative
Officer-General Counsel, Francesca’s Services Corporation, 8760 Clay Road, Houston, Texas 77080) within the Revocation Period.
The day following the last day of the Revocation Period shall be the “Effective Date” of this Agreement, provided
that you have not revoked this Agreement.

 

Nothing herein shall prevent you from seeking
a judicial determination as to the validity of the release with regard to age discrimination claims consistent with the ADEA. In
addition, nothing in this Agreement shall prevent you from cooperating in any investigation by a governmental agency. You, however,
hereby waive any right that you have to obtain an individual recovery if a governmental agency pursues a claim against the Company
based on any actions taken by the Company up to the Effective Date of this Agreement.

 

7.          No
Additional Compensation. You acknowledge and agree that, except as otherwise expressly provided in this Agreement, you
have received all amounts due from the Company relating in any way to your employment with the Company, including, but not limited
to, wages, salary, stock options or other equity or equity-based awards, severance pay, bonuses, commissions, fringe and aggregate
benefits, benefits allowances, medical benefits, insurance, retirement benefits, welfare benefits, contract pay, sick pay, personal
leave pay, vacation pay and/or paid time off (PTO) pay, and that no other amounts are due.

 

8.          Waiver.
You acknowledge that you may hereafter discover claims or facts in addition to or different from those that you now know or believe
to exist with respect to the subject matter of this Agreement and which, if known or suspected at the time of executing this Agreement,
may have materially affected this Agreement. Nevertheless, you hereby waive any right, claim or cause of action that might arise
as a result of such different or additional claims or facts. You, on behalf of yourself and the Releasors, agrees that if they
initiate any claim in violation of this Agreement, they shall indemnify and hold harmless the Releasees from and against any such
legal action (including payment of reasonable attorneys’ fees and costs actually incurred).

 

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9.          No
Claims Filed. You warrant and represent that you have not filed, caused to be filed or presently are a party to any claim,
complaint or action against the Company in any forum or form. You agree that you shall defend, indemnify and hold harmless the
Company from and against any claim (including payment of reasonable attorneys’ fees and costs actually incurred, whether
or not arbitration or litigation is commenced) based on, in connection with or arising out of any such claim filed.

 

10.         No
Assignment. You warrant and represent that you have not assigned or transferred or purported to assign or transfer to any
person or entity all or any part of any interest in any claim released under this Agreement. You agree that you shall defend, indemnify
and hold harmless the Company from and against any claim (including payment of reasonable attorneys’ fees and costs actually
incurred, whether or not arbitration or litigation is commenced) based on, in connection with or arising out of any such assignment
or transfer made.

 

11.         Non-Admission;
No Wrongdoing. You understand and agree that neither the execution of this Agreement nor the terms of this Agreement constitute
an admission of liability to you by the Company, and such liability is expressly denied. You further understand and agree that
you shall not use this Agreement or the consideration hereunder as evidence of an admission of liability, as such liability is
expressly denied. In addition, by signing this Agreement, you acknowledge that you are not aware of any wrongdoing or violation
of any law, statute, regulation or policy by the Company.

 

12.         Permitted
Conduct. Nothing in this Agreement shall prohibit or restrict you or the Company, or their respective attorneys, from:
(i) making any disclosure of relevant and necessary information or documents in any action, investigation or proceeding relating
to this Agreement, or as required by law or legal process (including notifying investors of your departure from the Company); or
(ii) participating, cooperating or testifying in any action, investigation or proceeding with, or providing information to, any
governmental agency or legislative body, any self-regulatory organization and/or pursuant to the Sarbanes-Oxley Act; provided
that, to the extent permitted by law, upon your receipt of any subpoena, court order or other legal process compelling the
disclosure of any such information or documents, you must give prompt written notice, via overnight delivery, to the Company (c/o
Kal Malik, Chief Administrative Officer-General Counsel, Francesca’s Services Corporation, 8760 Clay Road, Houston, Texas
77080) and wait at least ten (10) days, or until the expiration of the response period provided by the subpoena, court order or
legal process if that period is shorter than ten (10) days, before responding to such subpoena, court order or other legal process,
in order to permit the Company to protect its interests in confidentiality to the fullest extent possible. You acknowledge and
agree, however, that you are waiving any right to recover monetary damages or any other form of personal relief in connection with
any such action, investigation or proceeding, except with respect to rights that arise under, or are expressly preserved by, this
Agreement.

 

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13.         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. You agree that you shall
be exclusively liable for the payment of all taxes that may be due as the result of any amounts payable pursuant to this Agreement,
and you hereby represent that you will make payments of such taxes at the time and in the amount required of you. The Company makes
no representations or warranties regarding your tax obligations or liabilities. You agree that, if you fail to comply with this
Section 13, you will indemnify fully the Company from and against payment of any taxes, interest and/or penalties that are required
of the Company by any government agency, at any time, as a result of payment of any amounts payable pursuant to this Agreement.

 

14.         Successors
and Assigns. This Agreement is personal to you and without the prior written consent of the Company shall not be assignable
by you otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable
by your legal representatives. This Agreement shall inure to the benefit of and be binding upon the Company and its successors
and assigns. It is understood and agreed that your employment is with Francesca’s Services Corporation, a wholly owned subsidiary
of Francesca’s Holdings Corporation. References herein to the “Company” shall include a reference to Francesca’s
Services Corporation for all purposes, and this Agreement shall inure to the benefit of Francesca’s Services Corporation
as well as Francesca’s Collection, Inc.

 

15.         Governing
Law. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT GIVING
EFFECT TO ANY CHOICE OF LAW OR CONFLICTING PROVISION OR RULE (WHETHER OF THE STATE OF NEW YORK OR ANY OTHER JURISDICTION)
THAT WOULD CAUSE THE LAWS OF ANY JURISDICTION OTHER THAN THE STATE OF TEXAS TO BE APPLIED.

 

16.         Severability.
If any provision of this Agreement is found by any court of competent jurisdiction to be invalid or unenforceable for any reason,
such finding shall not affect, impair or invalidate the remainder of this Agreement. If any aspect of any restriction herein is
too broad or restrictive to permit enforcement to its fullest extent, you and the Company agree that any court of competent jurisdiction
shall modify such restriction to the minimum extent necessary to make it enforceable and then enforce the provision as modified.

 

17.         Entire
Agreement, Amendment and Waiver. This Agreement constitutes the entire agreement between you and the Company with respect
to the subject matter hereof and supersedes any and all prior or contemporaneous oral or written communications respecting such
subject matter, including the Prior Letter Agreement. This Agreement shall not be modified, amended or in any way altered except
by written instrument signed by you and the Company’s Chief Executive Officer. A waiver by either party hereto of any rights
or remedies hereunder on any occasion shall not be a bar to the exercise of the same right or remedy on any subsequent occasion
or of any other right or remedy at any time.

 

18.         Interpretation.
The parties to this Agreement cooperated in the drafting and preparation of this Agreement. Hence, in any construction or interpretation
of this Agreement, the same shall not be construed against any party on the basis that such party was the drafter.

 

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19.         Waiver
of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

20.         Remedies.
Each of the parties to this Agreement and any such person or entity granted rights hereunder whether or not such person or entity
is a signatory hereto shall be entitled to enforce its rights under this Agreement specifically to recover damages and costs for
any breach of any provision of this Agreement and to exercise all other rights existing in its favor. The parties hereto agree
and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that each
party may in its sole discretion apply to any court of law or equity of competent jurisdiction for specific performance, injunctive
relief and/or other appropriate equitable relief (without posting any bond or deposit) in order to enforce or prevent any violations
of the provisions of this Agreement. Each party shall be responsible for paying its own attorneys’ fees, costs and other
expenses pertaining to any such legal proceeding and enforcement regardless of whether an award or finding or any judgment or verdict
thereon is entered against either party.

 

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.

 

22.         Voluntary
and Knowing Agreement. By their authorized signatures below, the parties certify that they have carefully read and fully
considered the terms of this Agreement, they have had an opportunity to discuss these terms with attorneys or advisors of their
own choosing and have in fact done so, they agree to all of the terms of this Agreement, they intend to be bound by such terms
and to fulfill the promises set forth herein and they voluntarily and knowingly enter into this Agreement with full understanding
of its binding legal consequences.

 

[Signature page follows]

 

    	 	11	 

     

    

  

IN WITNESS WHEREOF, the parties hereto,
intending to be legally bound, have caused this Agreement to be executed as of the dates set forth below.

 

	By:	    /s/ Sei Jin Alt	 	8/14/2015
	 	Sei Jin Alt	 	Date
	 
	FRANCESCA’S COLLECTIONS, INC., 
	FRANCESCA’ SERVICES CORPORATION
	 
	By:	   /s/  Michael W. Barnes	 	8/14/2015
	 	Michael W. Barnes, President/CEO	 	Date

 

    	 	12	 

     

    

  

ACKNOWLEDGMENT AND WAIVER

 

I, Sei Jin Alt, hereby acknowledge that I was
given twenty-one (21) days to consider the foregoing Agreement and voluntarily chose to sign the Agreement prior to the expiration
of the twenty-one (21)-day period.

 

I declare under penalty of perjury under the
laws of the State of Texas that the foregoing is true and correct.

 

	EXECUTED
    on August 14,  2015, at	2:08 pm CST	 
	 	 	 	 
	 	Signed:	/s/ Sei Jin Alt	 

 

    	 	13	 

     

    

 

EXHIBIT A

 

Restricted Stock
Award Agreement

 

     

     

    

 

FRANCESCA’S HOLDINGS CORPORATION

2015 EQUITY INCENTIVE PLAN

RESTRICTED STOCK AWARD AGREEMENT

 

THIS RESTRICTED
STOCK AWARD AGREEMENT (this “Award Agreement”) is dated as of August 14, 2015 by and between Francesca’s
Holdings Corporation, a Delaware corporation (the “Corporation”), and Sei Jin Alt (the “Participant”).

 

W I T N E S S E T H

 

WHEREAS, pursuant
to the Francesca’s Holdings Corporation 2015 Equity Incentive Plan (the “Plan”), the Corporation
hereby grants to the Participant, effective as of November 20, 2015 (the “Award Date”), a restricted stock award
(the “Award”), upon the terms and conditions set forth herein and in the Plan; and

 

WHEREAS, the
Corporation and the Participant have entered into a transition agreement, dated August 14, 2015 (the “Transition Agreement”),
and the Award is the award of restricted stock referred to in Section 1(c) of the Transition Agreement.

 

NOW THEREFORE,
in consideration of services rendered and to be rendered by the Participant, and the mutual promises made herein and the mutual
benefits to be derived therefrom, the parties agree as follows:

 

1.Defined
Terms. Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to such terms in
the Plan.

 

2.Grant.
Subject to the terms of this Award Agreement, the Corporation hereby grants to the Participant an Award with respect to an aggregate
of 12,000 restricted shares of Common Stock of the Corporation (the “Restricted Stock”).

 

3.Vesting.
Subject to the terms and conditions of this Award Agreement (including, without limitation, the terms of Section 8 below), the
Award shall vest, and restrictions (other than those set forth in Section 8.1 of the Plan) shall lapse, in two (2) equal installments,
with the first such installment to vest on the date that is six (6) months after the Award Date and the second such installment
to vest on the first (1st) anniversary of the Award Date. The Board reserves the right to accelerate the vesting of
the Restricted Stock in such circumstances as it, in its sole discretion, deems appropriate and any such acceleration shall be
effective only when set forth in a written instrument executed by an officer of the Corporation.

 

4.Continuance
of Employment or Service. The vesting schedule requires continued employment or service through the applicable vesting
date as a condition to the vesting of the Award and the rights and benefits under this Award Agreement. Employment or service for
only a portion of the vesting period, even if a substantial portion, will not entitle the Participant to any proportionate vesting
or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or services as provided
in Section 8 below or under the Plan. The parties understand and agree that “Consulting Services” (as defined in the
Transition Agreement) actually performed by the Participant pursuant to the Transition Agreement shall constitute service for purposes
of this Award Agreement.

 

    	 	1	 

     

    

 

5.Dividend
and Voting Rights. After the Award Date, the Participant shall be entitled to cash dividends with respect to the shares
of Restricted Stock subject to the Award even though such shares are not vested but shall not be entitled to voting rights with
respect to the shares of Restricted Stock, provided that such rights to cash dividends shall terminate immediately as to any shares
of Restricted Stock that are forfeited pursuant to Section 8 below; and provided, further, that the Participant agrees that promptly
following any such forfeiture of the shares of Restricted Stock, the Participant will make a cash payment to the Company equal
to the amount of any cash dividends received by the Participant in respect of any such unvested, forfeited shares. To the extent
the shares are forfeited after the record date and before the payment date for a particular dividend, the Participant shall, promptly
after the dividend is paid, make a cash payment to the Company equal to the amount of any such cash dividend received by the Participant
in respect of such forfeited shares.

 

6.Restrictions
on Transfer. Prior to the time that they have become vested pursuant to Section 3 or Section 7 of the Plan, neither the
Restricted Stock, nor any interest therein, amount payable in respect thereof, or Restricted Property (as defined in Section 9
hereof) may be sold, assigned, transferred, pledged or otherwise disposed of, alienated or encumbered, either voluntarily or involuntarily.
The transfer restrictions in the preceding sentence shall not apply to (a) transfers to the Corporation, or (b) transfers by will
or the laws of descent and distribution.

 

7.Stock Certificates.

 

(a)Book Entry
Form. The Corporation shall issue the shares of Restricted Stock subject to the Award either: (a) in certificate form as provided
in Section 7(b) below; or (b) in book entry form, registered in the name of the Participant with notations regarding the applicable
restrictions on transfer imposed under this Award Agreement.

 

(b)Certificates
to be Held by Corporation; Legend. Any certificates representing shares of Restricted Stock that may be delivered to the Participant
by the Corporation prior to vesting shall be redelivered to the Corporation to be held by the Corporation until the restrictions
on such shares shall have lapsed and the shares shall thereby have become vested or the shares represented thereby have been forfeited
hereunder. Such certificates shall bear the following legend and any other legends the Corporation may determine to be necessary
or advisable to comply with all applicable laws, rules, and regulations:

 

“The ownership of this certificate
and the shares of stock evidenced hereby and any interest therein are subject to substantial restrictions on transfer under an
Agreement entered into between the registered owner and Francesca’s Holdings Corporation. A copy of such Agreement is on
file in the office of the Secretary of Francesca’s Holdings Corporation.”

 

    	 	2	 

     

    

 

(c)Delivery of
Certificates Upon Vesting. Promptly after the vesting of any shares of Restricted Stock pursuant to Section 3 or Section 8
hereof or Section 7 of the Plan and the satisfaction of any and all related tax withholding obligations pursuant to Section 10,
the Corporation shall, as applicable, either remove the notations on any shares of Restricted Stock issued in book entry form which
have vested or deliver to the Participant a certificate or certificates evidencing the number of shares of Restricted Stock which
have vested (or, in either case, such lesser number of shares as may result after giving effect to Section 10). The Participant
(or the beneficiary or personal representative of the Participant in the event of the Participant’s death or disability,
as the case may be) shall deliver to the Corporation any representations or other documents or assurances as the Corporation or
its counsel may determine to be necessary or advisable in order to ensure compliance with all applicable laws, rules, and regulations
with respect to the grant of the Award and the delivery of shares of Common Stock in respect thereof. The shares so delivered shall
no longer be restricted shares hereunder.

 

(d)Stock Power;
Power of Attorney. Concurrently with the execution and delivery of this Award Agreement, the Participant shall deliver to the
Corporation an executed stock power in the form attached hereto as Exhibit A, in blank, with respect to such shares. The
Corporation shall not deliver any share certificates in accordance with this Award Agreement unless and until the Corporation shall
have received such stock power executed by the Participant. The Participant, by acceptance of the Award, shall be deemed to appoint,
and does so appoint by execution of this Award Agreement, the Corporation and each of its authorized representatives as the Participant’s
attorney(s)-in-fact to effect any transfer of unvested forfeited shares (or shares otherwise reacquired by the Corporation hereunder)
to the Corporation as may be required pursuant to the Plan or this Award Agreement and to execute such documents as the Corporation
or such representatives deem necessary or advisable in connection with any such transfer.

 

8.Effect
of Termination of Employment or Services. If the Participant ceases to be employed by or ceases to provide services to
the Corporation or a Subsidiary (the date of such termination of employment or service is referred to as the Participant’s
“Severance Date”), the Participant’s shares of Restricted Stock (and related Restricted Property as defined
in Section 9 hereof) shall, except as expressly provided below, be forfeited to the Corporation to the extent such shares have
not become vested pursuant to Section 3 hereof or Section 7 of the Plan upon the Severance Date (regardless of the reason for such
termination of employment or service, whether with or without cause, voluntarily or involuntarily, or due to death or disability).
Upon the occurrence of any forfeiture of shares of Restricted Stock hereunder, such unvested, forfeited shares and related Restricted
Property shall be automatically transferred to the Corporation as of the Severance Date, without any other action by the Participant
(or the Participant’s beneficiary or personal representative in the event of the Participant’s death or disability,
as applicable). No consideration shall be paid by the Corporation with respect to such transfer. The Corporation may exercise its
powers under Section 7(d) hereof and take any other action necessary or advisable to evidence such transfer. The Participant (or
the Participant’s beneficiary or personal representative in the event of the Participant’s death or disability, as
applicable) shall deliver any additional documents of transfer that the Corporation may request to confirm the transfer of such
unvested, forfeited shares and related Restricted Property to the Corporation.

 

    	 	3	 

     

    

 

9.Adjustments
Upon Specified Events. Upon the occurrence of certain events relating to the Corporation’s stock contemplated by
Section 7.1 of the Plan, the Administrator shall make adjustments in accordance with such section in the number and kind of securities
that may become vested under the Award. If any adjustment shall be made under Section 7.1 of the Plan or an event described in
Section 7.2 of the Plan shall occur and the shares of Restricted Stock are not fully vested upon such event or prior thereto, the
restrictions applicable to such shares of Restricted Stock shall continue in effect with respect to any consideration, property
or other securities (the “Restricted Property” and, for the purposes of this Award Agreement, “Restricted
Stock” shall include “Restricted Property”, unless the context otherwise requires) received in respect of such
Restricted Stock. Such Restricted Property shall vest at such times and in such proportion as the shares of Restricted Stock to
which the Restricted Property is attributable vest, or would have vested pursuant to the terms hereof if such shares of Restricted
Stock had remained outstanding. To the extent that the Restricted Property includes any cash (other than regular cash dividends),
such cash shall be invested, pursuant to policies established by the Administrator, in interest bearing, FDIC-insured (subject
to applicable insurance limits) deposits of a depository institution selected by the Administrator, the earnings on which shall
be added to and become a part of the Restricted Property.

 

10.Tax Withholding.
Subject to Section 8.1 of the Plan, upon any vesting of the Restricted Stock, the Corporation shall automatically withhold and
reacquire the appropriate number of whole shares of Restricted Stock, valued at their then fair
market value (with the “fair market value” of such shares determined in accordance with the applicable provisions of
the Plan), to satisfy any withholding obligations of the Corporation or its Subsidiaries with respect to such vesting
at the minimum applicable withholding rates. In the event that the Corporation cannot satisfy such withholding obligations by withholding
and reacquiring shares of Restricted Stock, or in the event that the Participant makes or has made an election pursuant to Section
83(b) of the Code or the occurrence of any other withholding event with respect to the Award, the Corporation (or a Subsidiary)
shall be entitled to require a cash payment by or on behalf of the Participant and/or to deduct from other compensation payable
to the Participant any sums required by federal, state or local tax law to be withheld with respect to such vesting of any Restricted
Stock or such Section 83(b) election or other withholding event.

 

11.Notices.
Any notice to be given under the terms of this Award Agreement shall be in writing and addressed to the Corporation at its principal
office to the attention of the Secretary, and to the Participant at the Participant’s last address reflected on the Corporation’s
payroll records. Any notice shall be delivered in person or shall be enclosed in a properly sealed envelope, addressed as aforesaid,
registered or certified, and deposited (postage and registry or certification fee prepaid) in a post office or branch post office
regularly maintained by the United States Government. Any such notice shall be given only when received, but if the Participant
is no longer an Eligible Person, shall be deemed to have been duly given five business days after the date mailed in accordance
with the foregoing provisions of this Section 11.

 

12.Plan.
The Award and all rights of the Participant under this Award Agreement are subject to the terms and conditions of the provisions
of the Plan, incorporated herein by reference. The Participant agrees to be bound by the terms of the Plan and this Award Agreement.
The Participant acknowledges having read and understanding the Plan, the Prospectus for the Plan, and this Award Agreement. Unless
otherwise expressly provided in other sections of this Award Agreement, provisions of the Plan that confer discretionary authority
on the Board or the Administrator do not (and shall not be deemed to) create any rights in the Participant unless such rights are
expressly set forth herein or are otherwise in the sole discretion of the Board or the Administrator so conferred by appropriate
action of the Board or the Administrator under the Plan after the date hereof.

 

    	 	4	 

     

    

 

13.Entire
Agreement. This Award Agreement and the Plan together constitute the entire agreement and supersede all prior understandings
and agreements, written or oral, of the parties hereto with respect to the subject matter hereof. The Plan may be amended pursuant
to Section 8.6 of the Plan. This Award Agreement may be amended by the Board from time to time. Any such amendment must be
in writing and signed by the Corporation. Any such amendment that materially and adversely affects the Participant’s rights
under this Award Agreement requires the consent of the Participant in order to be effective with respect to the Award. The Corporation
may, however, unilaterally waive any provision hereof in writing to the extent such waiver does not adversely affect the interests
of the Participant hereunder, but no such waiver shall operate as or be construed to be a subsequent waiver of the same provision
or a waiver of any other provision hereof.

 

14.Counterparts.
This Award Agreement may be executed simultaneously in any number of counterparts, each of which shall be deemed an original but
all of which together shall constitute one and the same instrument.

 

15.Section
Headings. The section headings of this Award Agreement are for convenience of reference only and shall not be deemed to
alter or affect any provision hereof.

 

16.Governing
Law. This Award Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware
without regard to conflict of law principles thereunder.

 

17.Clawback
Policy. The Restricted Stock is subject to the terms of the Corporation’s recoupment, clawback or similar policy
as it may be in effect from time to time, as well as any similar provisions of applicable law, any of which could in certain circumstances
require repayment or forfeiture of the Restricted Stock or other cash or property received with respect to the Restricted Stock
(including any value received from a disposition of the Restricted Stock).

 

18.Waiver
of Jury Trial. EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
AGAINST OUT OF OR RELATING TO THE PLAN OR THIS RESTRICTED STOCK AWARD AGREEMENT (INCLUDING THESE TERMS).

 

19.No Advice
Regarding Grant. The Participant is hereby advised to consult with his or her own tax, legal and/or investment advisors
with respect to any advice the Participant may determine is needed or appropriate with respect to the Restricted Stock (including,
without limitation, to determine the foreign, state, local, estate and/or gift tax consequences with respect to the Award, the
advantages and disadvantages of making an election under Section 83(b) of the Code with respect to the Award, and the process and
requirements for such an election). Neither the Corporation nor any of its officers, directors, affiliates or advisors makes any
representation (except for the terms and conditions expressly set forth in this Award Agreement) or recommendation with respect
to the Award or the making an election under Section 83(b) of the Code with respect to the Award. In the event the Participant
desires to make an election under Section 83(b) of the Code with respect to the Award, it is the Participant’s sole responsibility
to do so timely. Except for the withholding rights set forth in Section 10 above, the Participant is solely responsible for any
and all tax liability that may arise with respect to the Award.

 

    	 	5	 

     

    

 

IN WITNESS WHEREOF,
the Corporation has caused this Award Agreement to be executed on its behalf by a duly authorized officer and the Participant has
hereunto set his or her hand as of the date and year first above written.

 

	 	FRANCESCA’S HOLDINGS  CORPORATION,
	 	a Delaware corporation
	 	 	 
	 	 	 
	 	By:	/s/ Michael W. Barnes
	 	 	 
	 	Print Name:	Michael W. Barnes
	 	 	 
	 	Its:	President & CEO
	 	 	 
	 	PARTICIPANT
	 	 
	 	/s/ Sei Jin Alt
	 	Signature
	 	 
	 	Sei Jin Alt
	 	Print Name

 

    	 	6	 

     

    

CONSENT OF SPOUSE

 

In consideration of
the execution of the foregoing Restricted Stock Award Agreement by Francesca’s Holdings Corporation, I, Brett Alt,
the spouse of the Participant therein named, do hereby join with my spouse in executing the foregoing Restricted Stock Award Agreement
and do hereby agree to be bound by all of the terms and provisions thereof and of the Plan.

 

Dated:_August 17th_______, 2015

 

	 	/s/ Brett Alt
	 	Signature of Spouse
	 	 

	 	Brett Alt
	 	Print Name

 

    	 	7	 

     

    

EXHIBIT A

 

STOCK POWER

 

 

FOR VALUE RECEIVED
and pursuant to that certain Restricted Stock Award Agreement between Francesca’s Holdings Corporation, a Delaware corporation
(the “Corporation”), and the individual named below (the “Individual”) dated as of _____________, 20__,
the Individual, hereby sells, assigns and transfers to the Corporation, an aggregate ________ shares of Common Stock of the Corporation,
standing in the Individual’s name on the books of the Corporation and represented by stock certificate number(s) _____________________________________________
to which this instrument is attached, and hereby irrevocably constitutes and appoints _________________ ____________________________________
as his or her attorney in fact and agent to transfer such shares on the books of the Corporation, with full power of substitution
in the premises.

 

Dated _____________, ________

 

 

		/s/ Sei Jin Alt
	 	Signature
	 	 
		Sei Jin Alt
	 	Print Name

 

(Instruction: Please do not fill in
any blanks other than the signature line. The purpose of the assignment is to enable the Corporation to exercise its sale/purchase
option set forth in the Restricted Stock Award Agreement without requiring additional signatures on the part of the Individual.)Exhibit 10.1

 

SEMTECH CANADA CORPORATION

 

August 17, 2015

 

Mr. Gary M. Beauchamp

c/o Semtech Canada Corporation

4281 Harvester Road

Burlington, ON  L7L 5M4

 

Dear Gary:

 

This agreement (this “Agreement”) confirms our understanding and agreement as set forth below.

 

Treatment of Equity Awards In a Change in Control.  If a Change in Control of Semtech Corporation, a Delaware corporation (the “Semtech Corporation”), occurs before September 1, 2018, any equity awards granted to you by Semtech Corporation prior to the Change in Control that are outstanding and otherwise unvested upon (or, as necessary to give effect to the acceleration, immediately prior to) the Change in Control will vest at that time.  As to any such award that is to be accelerated and is then subject to performance-based vesting conditions, then, unless otherwise expressly provided for in the applicable award agreement, the number of shares or units subject to the award will be adjusted to equal the target number of shares or units subject to the award that relate to the applicable open (or not yet then commenced, as the case may be) performance period as of (or, as necessary to give effect to the acceleration, immediately prior to) the Change in Control.  For purposes of this Agreement, the term “Change in Control” has the meaning given to such term in the Semtech Corporation Executive Change in Control Retention Plan, as currently in effect.  This Agreement has no impact on any award that may have terminated, expired, been paid or was vested prior to, or is otherwise not outstanding and unvested upon (or immediately prior to, as the case may be) such a Change in Control.  This Agreement does not confer upon you any rights, entitlements or other payments pursuant to the Semtech Corporation Executive Change in Control Retention Plan, and you hereby understand and acknowledge that you are not a participant in that Plan.

 

Severance.  You are employed by Semtech Canada Corporation (the “Company”) and not Semtech Corporation.  Your employment with the Company is for no specific period of time.  Either you or the Company may terminate your employment at any time and for any reason, with or without cause, and with or without prior notice, in accordance with applicable law.  In the event your employment with the Company terminates, you will be provided such termination/severance entitlements (if any) as are required by applicable law (including any statutory and/or common law entitlements as may be applicable) for the circumstances in which your employment terminates.  You hereby acknowledge and agree that you are not a party to or a participant in, and you will not be eligible for any termination/severance entitlements under, any

 

 

offer letter or employment agreement, or any severance plan (including, without limitation, the Semtech Corporation Executive Change in Control Retention Plan), policy or arrangement of, the Company, Semtech Corporation, or any of their respective affiliates or any of their respective predecessors.  Notwithstanding any provision of your offer letter, dated March 20, 2012, to the contrary, you are not covered by and have no right to participate in a Semtech Corporation Change in Control Plan or Agreement.

 

You agree to comply with the Semtech Corporation Core Values and Code of Conduct and the Semtech Corporation Policy Regarding Confidential Information and Insider Trading for All Employees (each of which apply to employees of the Company), your Invention Agreement & Secrecy Agreement with Semtech Corporation (“Invention Agreement”) and your Employee Confidentiality Agreement and Proprietary Rights Assignment with Semtech Corporation (“Confidentiality Agreement”) being entered in connection with this Agreement, as well as your Confidentiality and Proprietary Information Agreement with Gennum Corporation and your Conflict of Interest Agreement with Gennum Corporation (both of which have continued in effect with respect to your employment following the acquisition of Gennum Corporation) (the “Gennum Agreements”), as each of them is in effect from time to time.  You agree to execute all documents as necessary to confirm your ongoing compliance with the aforementioned policies.

 

All forms of compensation referred to in this Agreement are subject to all applicable tax withholding.  Except for such withholding, you will be responsible for your own tax liability imposed with respect to such compensation.

 

This Agreement, together with the Invention Agreement, the Confidentiality Agreement and the Gennum Agreements, supersede and replace any prior understandings, negotiations, or agreements, whether oral, written or implied, between you, on the one hand, and the Company and Semtech Corporation, on the other hand, regarding the matters described in this Agreement.  You have no right to accelerated vesting of awards upon or in connection with a Change in Control or similar event except as expressly set forth above.  Without limiting the generality of the foregoing, you acknowledge and agree that you have no additional rights under, and Semtech Corporation and the Company have no additional obligations under, your offer letter dated March 20, 2012.  You agree that you are not relying on any representations except as expressly set forth in this Agreement.  This Agreement may be amended only by a written agreement signed by both you and by an authorized officer of the Company (other than you).

 

To confirm your acceptance of the terms included in this Agreement, please sign, date and return a copy of this Agreement to me.

 

IN WITNESS WHEREOF, you and the Company have caused this Agreement to be duly executed and delivered on the day and year first written above.

 

[Signature Page Follows]

 

2

 

	
 
    	
Semtech Canada   Corporation
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By: 
    	
/s/ Emeka N. Chukwu
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
Emeka N. Chukwu
    
	
 
    	
 
    	
 
    
	
 
    	
Its:
    	
President and Chief   Financial Officer
    

 

 

Acknowledged and Agreed:

 

 

	
By:
    	
/s/ Gary M. Beauchamp
    	
 
    
	
 
    	
Gary   M. Beauchamp
    	
 
    

 

3

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