Document:

Exhibit
10.1

SEVERANCE
AGREEMENT AND RELEASE

RECITALS

This Severance Agreement
and Release (“Agreement”) is made
by and between Rajesh Vashist (“Employee”)
and Ikanos Communications (“Company”)
(collectively referred to as the “Parties”):

WHEREAS, Employee was
employed by the Company;

WHEREAS, the Company and
Employee entered into a Employee Inventions and Proprietary Rights Assignment
Agreement (the “Confidentiality Agreement”);

WHEREAS, WHEREAS, the
Company granted Employee options to purchase the Company’s common stock (the “Options”) under one or several of the
Company’s stock option plans (the “Plans”)
and each such Option is evidenced by an option agreement executed by Employee
and the Company (the “Option Agreements”)

WHEREAS, the Company and Employee entered into the Vashist Employment
Agreement dated August 31, 2005 (the “Employment Agreement”);

WHEREAS, Employee’s
employment with Company and status as a member of the Board of Directors
terminated on October 24, 2006 (the “Termination
Date”);

WHEREAS, the Parties, and
each of them, wish to resolve any and all disputes, claims, complaints,
grievances, charges, actions, petitions and demands that the Employee may have
against the Company as defined herein, including, but not limited to, any and
all claims arising or in any way related to Employee’s employment with, or
separation from, the Company;

NOW THEREFORE, in
consideration of the promises made herein, the Parties hereby agree as follows:

COVENANTS

1.             Resignation
from the Board of Directors.  Employee
hereby resigns as a member of the Company’s Board of Directors effective as of
the Termination Date.

2.             Consideration.

(a)           Severance.  Pursuant to the terms of the
Employment Agreement, upon the Effective Date of this Agreement, Employee will
be entitled to the severance payments and benefits set forth in Section 7(a) of
the Employment Agreement; provided, however, that (i) the Parties agree that in
partial consideration for the Parties entering into the Consulting Agreement
and the consideration to be provided thereunder as set forth in Section 2(b),
(1) the amount of the severance payment to be provided under clause (B) of
Section 7(a) of the Employment Agreement relating to the target bonus will
equal $67,000, which will be paid at the times and in the manner set forth in

 

clause (ii) below, and (2) the provision of continuing benefits under
the Benefit Plans (as defined in the Employment Agreement) under clause (E) of
Section 7(a) of the Employment Agreement will commence following the
termination of the Consulting Agreement, (ii) the severance payments to be made
pursuant to clauses (A) and (B) of Section 7(a) of the Employment Agreement
will be paid in equal installments in accordance with the Company’s normal
payroll policies commencing with the first pay date on or after January 1, 2007
and completing on the last pay date prior to March 15, 2007, and
(iii) Employee will have the right at any time prior to January 1, 2007 to
designate an exercise schedule with respect to any unexercised options to purchase
Company Common Stock, provided such election may not provide for exercise of
any such option beyond October 24, 2007. 
For purposes of clarification, the Parties acknowledge that the one year
period in which Employee will have to exercise his outstanding stock options or
similar rights to acquire Company common stock under clause (D) of Section 7(a)
of the Employment Agreement will commence on the Termination Date and all of
Executive’s equity awards granted by the Company will cease vesting as of Termination
Date, except as set forth in the Consulting Agreement, and any unvested portion
of the Employee’s equity awards (after taking into account any acceleration of
vesting set forth in the Consulting Agreement) will terminate effective as of
the Termination Date and Employee will have no further rights with respect
thereto.

(b)           Consulting.  Commencing on the Termination Date and
subject to this Agreement becoming effective (as set forth in Section 24),
Employee will make himself available to serve as a consultant to the Company
through December 31, 2006, pursuant to the written consulting agreement (the “Consulting Agreement”), attached hereto as Exhibit
A.

3.             Confidential
Information and Non-solicitation. 
Employee will continue to maintain the confidentiality of all
confidential and proprietary information of the Company and will continue to
comply with the terms and conditions of the Confidentiality Agreement between
Employee and the Company, including, without limitation, the non-solicitation
provisions of Section 14 of the Confidentiality Agreement.  Employee will return all of the Company’s
property and confidential and proprietary information in his possession to the
Company on the Effective Date of this Agreement.

4.             Payment
of Salary.  Employee acknowledges and
represents that the Company has paid all salary, wages, bonuses, accrued
vacation, commissions and any and all other benefits due to Employee once the
above noted payments and benefits are received.

5.             Release
of Claims. Employee agrees that the foregoing consideration represents
settlement in full of all outstanding obligations owed to Employee by the
Company and its officers, managers, supervisors, agents and employees.  Employee, on his own behalf, and on behalf of
his respective heirs, family members, executors, agents, and assigns, hereby
fully and forever releases the Company and its officers, directors, employees,
agents, investors, shareholders, administrators, affiliates, divisions,
subsidiaries, predecessor and successor corporations, and assigns (the “Releasees”), from, and agree not to sue concerning, any
claim, duty, obligation or cause of action relating to any matters of any kind,
whether presently known or unknown, suspected or unsuspected, that Employee may
possess arising from any omissions, acts or facts that have occurred up until
and including the Effective Date of this Agreement including, without
limitation:

 2
 

 

(a)           any and all claims
relating to or arising from Employee’s employment relationship with the Company
and the termination of that relationship;

(b)           any and all claims
relating to, or arising from, Employee’s right to purchase, or actual purchase
of shares of stock of the Company, including, without limitation, any claims
for fraud, misrepresentation, breach of fiduciary duty, breach of duty under
applicable state corporate law, and securities fraud under any state or federal
law;

(c)           any and all claims
under the law of any jurisdiction including, but not limited to, wrongful
discharge of employment; constructive discharge from employment; termination in
violation of public policy; discrimination; harassment; retaliation; breach of
contract, both express and implied; breach of a covenant of good faith and fair
dealing, both express and implied; promissory estoppel; negligent or
intentional infliction of emotional distress; negligent or intentional
misrepresentation; negligent or intentional interference with contract or
prospective economic advantage; unfair business practices; defamation; libel;
slander; negligence; personal injury; assault; battery; invasion of privacy;
false imprisonment; and conversion;

(d)           any and all claims for
violation of any federal, state or municipal statute, including, but not
limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of
1991, the Age Discrimination in Employment Act of 1967, the Americans with
Disabilities Act of 1990, the Fair Labor Standards Act, the Employee Retirement
Income Security Act of 1974, The Worker Adjustment and Retraining Notification
Act, Older Workers Benefit Protection Act; the Family and Medical Leave Act;
the California Family Rights Act; the California Fair Employment and Housing
Act, and the California Labor Code, including, but not limited to California
Labor Code Sections 1400-1408;

(e)           any and all claims for
violation of the federal, or any state, constitution;

(f)            any and all claims
arising out of any other laws and regulations relating to employment or
employment discrimination;

(g)           any claim for any loss,
cost, damage, or expense arising out of any dispute over the non-withholding or
other tax treatment of any of the proceeds received by Employee as a result of
this Agreement; and

(h)           any and all claims for
attorneys’ fees and costs.

The Company and
Employee agree that the release set forth in this section will be and remain in
effect in all respects as a complete general release as to the matters
released.  Notwithstanding the previous sentence, the Parties
agree that Employee will continue to be covered by the terms and conditions of
the Indemnification Agreement entered into between Employee and the Company
(the “Indemnity Agreement”) and the terms of
the Company’s D&O insurance policy for claims against Employee that arise
out of matters or events that occurred prior to the Termination Date.  This release does not extend to any severance
benefits due Employee under the Employment Agreement or any rights to
indemnification Employee may have under the Indemnification Agreement or the
Company’s D&O insurance policy.

 3
 

 

6.             Acknowledgement
of Waiver of Claims Under ADEA. 
Employee acknowledges that he is waiving and releasing any rights he may
have under the Age Discrimination in Employment Act of 1967 (“ADEA”) and that this waiver and release is
knowing and voluntary.  Employee and the
Company agree that this waiver and release does not apply to any rights or
claims that may arise under ADEA after the Effective Date of this
Agreement.  Employee acknowledges that
the consideration given for this waiver and release Agreement is in addition to
anything of value to which Employee was already entitled.  Employee further acknowledges that he has been
advised by this writing that:

(a)           he should consult with
an attorney prior to executing this Agreement;

(b)           he has up to twenty-one
(21) days within which to consider this Agreement;

(c)           he has seven (7) days
following his execution of this Agreement to revoke this Agreement;

(d)           this Agreement will not
be effective until the revocation period has expired; and,

(e)           nothing in this
Agreement prevents or precludes Employee from challenging or seeking a
determination in good faith of the validity of this waiver under the ADEA, nor
does it impose any condition precedent, penalties or costs for doing so, unless
specifically authorized by federal law.

7.             Civil
Code Section 1542.  The Parties
represent that they are not aware of any claim by either of them other than the
claims that are released by this Agreement. 
Employee acknowledges that he had the opportunity to seek the advice of
legal counsel and is familiar with the provisions of California Civil Code
Section 1542, which provides as follows:

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE
CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS
SETTLEMENT WITH THE DEBTOR.

Employee, being aware of said code section, agrees to
expressly waive any rights he may have thereunder, as well as under any other
statute or common law principles of similar effect.

8.             No
Pending or Future Lawsuits.  Employee
represents that he has no lawsuits, claims, or actions pending in his name, or
on behalf of any other person or entity, against the Company or any other
person or entity referred to herein. 
Employee also represents that he does not intend to bring any claims on his
own behalf or on behalf of any other person or entity against the Company or
any other person or entity referred to herein.

9.             No
Cooperation.  Employee agrees he will
not act in any manner that might damage the business of the Company.  Employee agrees that he will not counsel or
assist any attorneys or

 4
 

 

their clients in the presentation or prosecution of
any disputes, differences, grievances, claims, charges, or complaints by any
third party against the Company and/or any officer, director, employee, agent,
representative, shareholder or attorney of the Company, unless under a subpoena
or other court order to do so.  Employee
further agrees both to immediately notify the Company upon receipt of any court
order, subpoena, or any legal discovery device that seeks or might require the
disclosure or production of the existence or terms of this Agreement, and to
furnish, within three (3) business days of its receipt, a copy of such subpoena
or legal discovery device to the Company.

10.           Non-Disparagement.  Employee agrees to refrain from any
defamation, libel or slander of the Releasees or tortious interference with the
contracts and relationships of the Releasees. 
All inquiries by potential future employers of Employee will be directed
to the Vice President of Human Resources of the Company.  Upon inquiry, the Company will only state the
following: Employee’s last position and dates of employment

11.           No
Admission of Liability.  The Parties
understand and acknowledge that this Agreement constitutes a compromise and
settlement of disputed claims.  No action
taken by the Parties hereto, or either of them, either previously or in
connection with this Agreement will be deemed or construed to be: (a) an
admission of the truth or falsity of any claims heretofore made or (b) an
acknowledgment or admission by either party of any fault or liability
whatsoever to the other party or to any third party.

12.           No
Knowledge of Wrongdoing.  Employee
represents that he has no knowledge of any wrongdoing involving improper or
false claims against a federal or state governmental agency, or any other
wrongdoing that involves Employee or other present or former Company employees.

13.           Costs.  The Parties will each bear their own costs,
expert fees, attorneys’ fees and other fees incurred in connection with this
Agreement.

14.           Indemnification.  Employee agreed to indemnify and hold
harmless the Company from and against any and all loss, costs, damages or
expenses, including, without limitation, attorneys’ fees or expenses incurred
by the Company arising out of the breach of this Agreement by Employee, or from
any false representation made herein by Employee, or from any action or
proceeding which may be commenced, prosecuted or threatened by Employee or for
Employee’s benefit, upon Employee’s initiative, or with Employee’s aid or
approval, contrary to the provisions of this Agreement.  Employee further agrees that in any such
action or proceeding, this Agreement may be pled by the Company as a complete
defense, or may be asserted by way of counterclaim or cross-claim.

15.           Arbitration.  The Parties agree that any and all disputes
arising out of, or relating to, the terms of this Agreement, their
interpretation, and any of the matters herein released, will be subject to
binding arbitration in Santa Clara County before the American Arbitration
Association under its National Rules for the Resolution of Employment
Disputes.  The Parties agree that the
prevailing party in any arbitration will be entitled to injunctive relief in
any court of competent jurisdiction to enforce the arbitration award.  The Parties agree that the prevailing party
in any arbitration will be awarded its reasonable attorneys’ fees and
costs.  The Parties
hereby agree to waive their right to have any dispute between them resolved in
a court of law by a judge or jury.  This
section will not prevent either party from seeking injunctive relief (or any
other

 5
 

 

provisional remedy) from any court having jurisdiction
over the Parties and the subject matter of their dispute relating to Employee’s
obligations under this Agreement and the agreements incorporated herein by
reference.

16.           Authority.  The Company represents and warrants that the
undersigned has the authority to act on behalf of the Company and to bind the
Company and all who may claim through it to the terms and conditions of this
Agreement.  Employee represents and
warrants that he has the capacity to act on his own behalf and on behalf of all
who might claim through him to bind them to the terms and conditions of this
Agreement.  Each party warrants and
represents that there are no liens or claims of lien or assignments in law or
equity or otherwise of or against any of the claims or causes of action
released herein.

17.           No
Representations.  Each Party
represents that it has had the opportunity to consult with an attorney, and has
carefully read and understands the scope and effect of the provisions of this
Agreement.  Neither Party has relied upon
any representations or statements made by the other Party hereto which are not
specifically set forth in this Agreement.

18.           Severability.  In the event that any provision hereof
becomes or is declared by a court of competent jurisdiction to be illegal,
unenforceable or void, this Agreement will continue in full force and effect
without said provision so long as the remaining provisions remain intelligible
and continue to reflect the original intent of the Parties.

19.           Entire Agreement. This Agreement represents the entire
agreement and understanding between the Company and Employee concerning the
subject matter of this Agreement and Employee’s relationship with the Company,
and supersedes and replaces any and all prior agreements and understandings
between the Parties concerning the subject matter of this Agreement and
Employee’s relationship with the Company, with the exception of the Confidentiality
Agreement, the Plans, the Option Agreements, Sections 7 and 8 of the Employment
Agreements and the Consulting Agreement.

20.           No
Waiver.  The failure of any party to
insist upon the performance of any of the terms and conditions in this
Agreement, or the failure to prosecute any breach of any of the terms and
conditions of this Agreement, will not be construed thereafter as a waiver of
any such terms or conditions.  This
entire Agreement will remain in full force and effect as if no such forbearance
or failure of performance had occurred.

21.           No
Oral Modification.  Any modification
or amendment of this Agreement, or additional obligation assumed by either
party in connection with this Agreement, will be effective only if placed in
writing and signed by both Parties or by authorized representatives of each
party.

22.           Governing
Law.  This Agreement will be deemed
to have been executed and delivered within the State of California, and it will
be construed, interpreted, governed, and enforced in accordance with the laws
of the State of California, without regard to conflict of law principles.  To the extent that either party seeks
injunctive relief in any court having jurisdiction for any claim relating to
the alleged misuse or misappropriation of trade secrets or confidential or
proprietary information, each party hereby consents to personal and exclusive
jurisdiction and venue in the state and federal courts of the State of
California.

 6
 

 

23.           Attorneys’
Fees.  In the event that either Party
brings an action to enforce or effect its rights under this Agreement, the
prevailing party will be entitled to recover its costs and expenses, including
the costs of mediation, arbitration, litigation, court fees, plus reasonable
attorneys’ fees, incurred in connection with such an action.

24.           Effective
Date.  This Agreement is effective
after it has been signed by both parties and after seven (7) days have passed
since Employee has signed the Agreement (the “Effective
Date”), unless revoked by Employee within seven (7) days after the
date the Agreement was signed by Employee.

25.           Counterparts.  This Agreement may be executed in
counterparts, and each counterpart will have the same force and effect as an
original and will constitute an effective, binding agreement on the part of
each of the undersigned.

26.           Voluntary
Execution of Agreement.  This
Agreement is executed voluntarily and without any duress or undue influence on
the part or behalf of the Parties hereto, with the full intent of releasing all
claims.  The Parties acknowledge that:

(a)           They have read this
Agreement;

(b)           They have been
represented in the preparation, negotiation, and execution of this Agreement by
legal counsel of their own choice or that they have voluntarily declined to
seek such counsel;

(c)           They understand the
terms and consequences of this Agreement and of the releases it contains; and

(d)           They are fully aware of
the legal and binding effect of this Agreement.

IN WITNESS WHEREOF, the
Parties have executed this Agreement on the respective dates set forth below.

	
  

  	
  IKANOS COMMUNICATIONS

  
	
   

  	
   

  
	
  Dated: October
  24, 2006

  	
  By

  	
  /s/ G. Venkatesh

  	
   

  
	
   

  	
   

  	
  G. Venkatesh

  
	
   

  	
   

  	
  Executive
  Chairman of the Board of Directors of

  
	
   

  	
   

  	
  Ikanos Communications, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  RAJESH VASHIST, an individual

  
	
   

  	
   

  
	
   

  	
   

  
	
  Dated: October
  24, 2006

  	
  /s/ Rajesh Vashist

  	
   

  
	
   

  	
  Rajesh Vashist

  

 

 7Exhibit
10.2

IKANOS
COMMUNICATIONS

CONSULTING AGREEMENT

 

This Consulting Agreement (this “Agreement”)
is entered into effective as of October 24, 2006 by and between Ikanos
Communications (the “Company”) and
Rajesh Vashist (“Consultant”).  The Company desires to retain Consultant as
an independent contractor to perform consulting services for the Company, and
Consultant is willing to perform such services, on the terms described
below.  In consideration of the mutual promises
contained herein, the parties agree as follows:

1.             Services and
Compensation.  Consultant agrees to
perform for the Company the services described in Exhibit A (the “Services”), and the Company agrees to pay Consultant the
compensation described in Exhibit A for Consultant’s performance of
the Services.

2.             Confidentiality.

A.            Definition.  “Confidential
Information” means any non-public information that relates to the
actual or anticipated business or research and development of the Company,
technical data, trade secrets or know-how, including, but not limited to,
research, product plans or other information regarding the Company’s products
or services and markets therefor, customer lists and customers (including, but
not limited to, customers of the Company on whom Consultant called or with whom
Consultant became acquainted during the term of this Agreement), software,
developments, inventions, processes, formulas, technology, designs, drawings,
engineering, hardware configuration information, marketing, finances or other
business information.  Confidential
Information does not include information that (i) is known to Consultant
at the time of disclosure to Consultant by the Company as evidenced by written
records of Consultant, (ii) has become publicly known and made generally
available through no wrongful act of Consultant or (iii) has been
rightfully received by Consultant from a third party who is authorized to make
such disclosure.

B.            Nonuse and Nondisclosure.  Consultant will not, during or subsequent to
the term of this Agreement, (i) use the Confidential Information for any
purpose whatsoever other than the performance of the Services on behalf of the
Company or (ii) disclose the Confidential Information to any third
party.  Consultant agrees that all
Confidential Information will remain the sole property of the Company.  Consultant also agrees to take all reasonable
precautions to prevent any unauthorized disclosure of such Confidential
Information.

C.            Former Client Confidential Information.  Consultant agrees that Consultant will not,
during the term of this Agreement, improperly use or disclose any proprietary
information or trade secrets of any former or current employer of Consultant or
other person or entity with which Consultant has an agreement or duty to keep
in confidence information acquired by Consultant, if any.  Consultant also agrees that Consultant will
not bring onto the Company’s premises any unpublished document or proprietary
information belonging to any such employer, person or entity unless consented
to in writing by such employer, person or entity.

 

D.            Third Party
Confidential Information.  Consultant
recognizes that the Company has received and in the future will receive from
third parties their confidential or proprietary information subject to a duty
on the Company’s part to maintain the confidentiality of such information and
to use it only for certain limited purposes. 
Consultant agrees that, during the term of this Agreement and
thereafter, Consultant owes the Company and such third parties a duty to hold
all such confidential or proprietary information in the strictest confidence
and not to disclose it to any person, firm or corporation or to use it except
as necessary in carrying out the Services for the Company consistent with the
Company’s agreement with such third party.

E.             Return of Materials.  Upon the termination of this Agreement, or
upon Company’s earlier request, Consultant will deliver to the Company all of
the Company’s property, including but not limited to all electronically stored
information and passwords to access such property, and Confidential Information
that Consultant may have in Consultant’s possession or control.

3.             Ownership.

A.            Assignment.  Consultant agrees that all copyrightable
material, notes, records, drawings, designs, inventions, improvements,
developments, discoveries and trade secrets conceived, discovered, developed or
reduced to practice by Consultant, solely or in collaboration with others,
during the term of this Agreement that relate in any manner to the business of
the Company that Consultant may be directed to undertake, investigate or
experiment with or that Consultant may become associated with in work,
investigation or experimentation in the Company’s line of business in
performing the Services under this Agreement (collectively, “Inventions”) are the sole property of the
Company. Consultant also agrees to assign (or cause to be assigned) and hereby
assigns fully to the Company all Inventions and any copyrights, patents, mask
work rights or other intellectual property rights relating to all Inventions.

B.            Further Assurances.  Consultant agrees to assist the Company, or
its designee, at the Company’s expense, in every proper way to secure the
Company’s rights in Inventions and any copyrights, patents, mask work rights or
other intellectual property rights relating to all Inventions in any and all
countries, including the disclosure to the Company of all pertinent information
and data with respect to all Inventions, the execution of all applications,
specifications, oaths, assignments and other instruments that the Company may
deem necessary in order to apply for and obtain such rights and in order to
assign and convey to the Company and its successors, assigns and nominees the
sole and exclusive right, title and interest in and to all Inventions and any
copyrights, patents, mask work rights or other intellectual property rights
relating to all Inventions.  Consultant
also agrees that Consultant’s obligation to execute or cause to be executed any
such instrument or papers shall continue after the termination of this
Agreement.

C. Pre-Existing Materials.  Subject to Section 3.A, Consultant agrees
that if, in the course of performing the Services, Consultant incorporates into
any Invention developed under this Agreement any pre-existing invention,
improvement, development, concept, discovery or other proprietary information
owned by Consultant or in which Consultant has an interest, (i) Consultant
will inform the Company, in writing, before incorporating such invention, improvement,
development, concept, discovery or other proprietary information into any
Invention, and (ii) the

 2
 

 

Company is
hereby granted a nonexclusive, royalty-free, perpetual, irrevocable, worldwide
license to make, have made, modify, use and sell such item as part of or in
connection with such Invention. Consultant will not incorporate any invention,
improvement, development, concept, discovery or other proprietary information
owned by any third party into any Invention without the Company’s prior written
permission.

D.            Attorney-in-Fact.  Consultant agrees that, if the Company is
unable because of Consultant’s unavailability, dissolution or mental or
physical incapacity, or for any other reason, to secure Consultant’s signature
for the purpose of applying for or pursuing any application for any United
States or foreign patents or mask work or copyright registrations covering the
Inventions assigned to the Company in Section 3.A, then Consultant hereby
irrevocably designates and appoints the Company and its duly authorized
officers and agents as Consultant’s agent and attorney-in-fact, to act for and
on Consultant’s behalf to execute and file any such applications and to do all
other lawfully permitted acts to further the prosecution and issuance of
patents and copyright and mask work registrations with the same legal force and
effect as if executed by Consultant.

4.             Conflicting Obligations.

A.            Conflicts. 
Consultant certifies that Consultant has no outstanding agreement or
obligation that is in conflict with any of the provisions of this Agreement or
that would preclude Consultant from complying with the provisions of this
Agreement.  Consultant will not enter
into any such conflicting agreement during the term of this Agreement.

B.            Substantially Similar Designs.  In view of Consultant’s access to the Company’s
trade secrets and proprietary know-how, Consultant agrees that Consultant will
not, without the Company’s prior written approval, design identical or
substantially similar designs as those developed under this Agreement for any
third party during the term of this Agreement and for a period of 12 months
after the termination of this Agreement. Consultant acknowledges that the
obligations in this Section 4 are ancillary to Consultant’s nondisclosure
obligations under Section 2.

5.             Reports. 
Consultant also agrees that Consultant will, from time to time during
the term of this Agreement or any extension thereof, keep the Company advised
as to Consultant’s progress in performing the Services under this
Agreement.  Consultant further agrees
that Consultant will, as requested by the Company, prepare written reports with
respect to such progress.  The Company
and Consultant agree that the time required to prepare such written reports
will be considered time devoted to the performance of the Services.

6.             Term and Termination.

A.            Term. 
The term of this Agreement will begin on the date of this Agreement and
will continue until the earlier of (i) December 31, 2006 or
(ii) termination as provided in Section 6.B.

B.            Termination.  Either party may terminate this Agreement
upon giving the other party fourteen (14) days’ prior written notice of such
termination pursuant to Section 10.E of this Agreement.   The Company may terminate this Agreement
immediately and without prior notice

 3
 

 

if Consultant
refuses to or is unable to perform the Services or is in breach of any material
provision of this Agreement.

C.            Survival. 
Upon such termination, all rights and duties of the Company and
Consultant toward each other shall cease except:

(1)           The Company will pay,
within thirty (30) days after the effective date of termination, all amounts
owing to Consultant for Services completed and accepted by the Company prior to
the termination date and related expenses, if any, submitted in accordance with
the Company’s policies and in accordance with the provisions of Section 1
of this Agreement; and

(2)           Section 2
(Confidentiality), Section 3 (Ownership), Section 4 (Conflicting
Obligations), Section 7 (Independent Contractor; Benefits), and
Section 8 (Arbitration and Equitable Relief) will survive termination of
this Agreement.

7.             Independent Contractor; Benefits.

A.            Independent Contractor.  It is the express intention of the
Company and Consultant that Consultant performs the Services as an independent contractor
to the Company.  Nothing in this
Agreement shall in any way be construed to constitute Consultant as an agent,
employee or representative of the Company. 
Without limiting the generality of the foregoing, Consultant is not
authorized to bind the Company to any liability or obligation or to represent
that Consultant has any such authority. 
Consultant acknowledges and agrees that Consultant is obligated to
report as income all compensation received by Consultant pursuant to this
Agreement.  Consultant agrees to and
acknowledges the obligation to pay all self-employment and other taxes on such
income.

B.            Benefits. 
The Company and Consultant agree that Consultant will receive no
Company-sponsored benefits from the Company. 
If Consultant is reclassified by a state or federal agency or court as
the Company’s employee, Consultant will become a reclassified employee and will
receive no benefits from the Company, except those mandated by state or federal
law, even if by the terms of the Company’s benefit plans or programs in effect
at the time of such reclassification, Consultant would otherwise be eligible
for such benefits.

8.             Arbitration and Equitable Relief.

A.            Arbitration.  Consultant agrees that any and all
controversies, claims or disputes with anyone (including the Company and any
employee, officer, director, shareholder or benefit plan of the Company, in its
capacity as such or otherwise) arising out of, relating to or resulting from
Consultant’s performance of the Services under this Agreement or the
termination of this Agreement, including any breach of this Agreement, shall be
subject to binding arbitration under the Arbitration Rules set forth in
California Code of Civil Procedure Section 1280 through 1294.2, including
Section 1283.05 (the “Rules”) and pursuant to California law.  CONSULTANT AGREES TO ARBITRATE, AND THEREBY
AGREES TO WAIVE ANY RIGHT TO A TRIAL BY JURY WITH RESPECT TO, ALL DISPUTES
ARISING FROM OR RELATED TO THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO: ANY
STATUTORY CLAIMS UNDER

 4
 

 

STATE OR FEDERAL LAW, CLAIMS UNDER TITLE VII OF THE
CIVIL RIGHTS ACT OF 1964, THE AMERICANS WITH DISABILITIES ACT OF 1990, THE AGE
DISCRIMINATION IN EMPLOYMENT ACT OF 1967, THE OLDER WORKERS BENEFIT PROTECTION
ACT, THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, THE CALIFORNIA LABOR CODE,
CLAIMS OF HARASSMENT, DISCRIMINATION OR WRONGFUL TERMINATION AND ANY STATUTORY
CLAIMS.  Consultant understands that this
agreement to arbitrate also applies to any disputes that the Company may have
with Consultant. 

B.            Procedure. 
Consultant agrees that any arbitration will be administered by the
American Arbitration Association (“AAA”),
and that a neutral arbitrator will be selected in a manner consistent with its
National Rules for the Resolution of Employment Disputes.  Consultant agrees that the arbitrator will
have the power to decide any motions brought by any party to the arbitration,
including discovery motions, motions for summary judgment and/or adjudication
and motions to dismiss and demurrers, prior to any arbitration hearing.  Consultant agrees that the arbitrator will
issue a written decision on the merits. 
Consultant also agrees that the arbitrator will have the power to award
any remedies, including attorneys’ fees and costs, available under applicable
law.  Consultant understands that the
Company will pay for any administrative or hearing fees charged by the
arbitrator or AAA, except that Consultant shall pay the amount of any filing
fees associated with any arbitration Consultant initiates that Consultant would
have otherwise had to pay had he filed any such claim in court.  Consultant agrees that the arbitrator will
administer and conduct any arbitration in a manner consistent with the Rules
and that, to the extent that the AAA’s National Rules for the Resolution of
Employment Disputes conflict with the Rules, the Rules will take precedence.

C.            Remedy. 
Except as provided by the Rules, arbitration will be the sole, exclusive
and final remedy for any dispute between the Company and Consultant.  Accordingly, except as provided for by the
Rules, neither the Company nor Consultant will be permitted to pursue court
action regarding claims that are subject to arbitration.  Notwithstanding the foregoing, the arbitrator
will not have the authority to disregard or refuse to enforce any lawful
Company policy, and the arbitrator shall not order or require the Company to
adopt a policy not otherwise required by law which the Company has not adopted.

D.            Availability of Injunctive Relief.  In addition to the right under the Rules to
petition the court for provisional relief, Consultant agrees that any party may
also petition the court for injunctive relief where either party alleges or
claims a violation of Sections 2 (Confidentiality), 3 (Ownership) or 4
(Conflicting Obligations) of this Agreement or any other agreement regarding
trade secrets, confidential information, nonsolicitation or Labor Code
§2870.  In the event either the Company
or Consultant seeks injunctive relief, the prevailing party will be entitled to
recover reasonable costs and attorneys’ fees.

E.             Administrative Relief.  Consultant understands that this Agreement
does not prohibit Consultant from pursuing an administrative claim with a
local, state or federal administrative body such as the Department of Fair
Employment and Housing, the Equal Employment Opportunity Commission or the
workers’ compensation board.  This
Agreement does, however, preclude Consultant from pursuing court action
regarding any such claim.

 5
 

 

F.             Voluntary Nature of Agreement.  Consultant acknowledges and agrees that
Consultant is executing this Agreement voluntarily and without any duress or
undue influence by the Company or anyone else. Consultant further acknowledges
and agrees that Consultant has carefully read this Agreement and has asked any
questions needed to understand the terms, consequences and binding effect of
this Agreement and fully understand it, including that Consultant is waiving
its right to a jury trial.  Finally,
Consultant agrees that Consultant has been provided an opportunity to seek the
advice of an attorney of its choice before signing this Agreement.

11.           Miscellaneous.

A.            Governing Law.  This Agreement shall be governed by the laws
of California without regard to California’s conflicts of law rules.

B.            Assignability.  Except as otherwise provided in this
Agreement, Consultant may not sell, assign or delegate any rights or
obligations under this Agreement.

C.            Entire Agreement.  This Agreement constitutes the entire
agreement between the parties with respect to the subject matter of this
Agreement and supersedes all prior written and oral agreements between the
parties regarding the subject matter of this Agreement, except for continuing
obligations the parties may have to each other under the Vashist Employment Agreement
entered into between the Company and Consultant dated August 31, 2005 (the “Employment Agreement”), the Severance
Agreement and Release entered into between the Company and Consultant on
October 24, 2006 (the “Separation Agreement”)
and the Employee Inventions and Proprietary Rights Assignment Agreement entered
into between Consultant and the Company.

D.            Headings. 
Headings are used in this Agreement for reference only and shall not be
considered when interpreting this Agreement.

E.             Notices. 
Any notice or other communication required or permitted by this
Agreement to be given to a party shall be in writing and shall be deemed given
if delivered personally or by commercial messenger or courier service, or
mailed by U.S. registered or certified mail (return receipt requested), or sent
via facsimile (with receipt of confirmation of complete transmission), to the
party at the party’s address or facsimile number written below or at such other
address or facsimile number as the party may have previously specified by like
notice.  If by mail, delivery shall be
deemed effective 3 business days after mailing in accordance with this Section 10.E.

(1)           If to the Company, to:

Ikanos Communications

47669 Fremont Boulevard

Fremont, CA 94538

Attention: G. Venkatesh, Executive
Chairman of the Board of

Directors of Ikanos Communications, Inc.
Telephone: (510) 979-0400

Facsimile: (510) 979-0500

 6
 

 

(2)           If to Consultant, to
the address for notice on the signature page

to this Agreement or, if no such address is provided, to the last address of
Consultant provided by Consultant to the Company.

F.             Attorneys’ Fees.  In any court action at law or equity that is
brought by one of the parties to this Agreement to enforce or interpret the
provisions of this Agreement, the prevailing party will be entitled to
reasonable attorneys’ fees, in addition to any other relief to which that party
may be entitled.

G.            Severability.  If any provision of this Agreement is found
to be illegal or unenforceable, the other provisions shall remain effective and
enforceable to the greatest extent permitted by law.

(Remainder of page intentionally
left blank.)

 7
 

 

IN WITNESS WHEREOF, the parties hereto have executed
this Consulting Agreement as of the date first written above.

	
   

  	
   

  
	
  CONSULTANT

  	
  IKANOS COMMUNICATIONS, INC.

  
	
   

  	
   

  
	
  /s/ Rajesh Vashist

  	
   

  	
  By:

  	
  /s/ G. Venkatesh

  	
   

  
	
  Name: Rajesh
  Vashist

  	
   

  	
  Name: G. Venkatesh

  
	
   

  	
   

  	
  Title: Executive Chairman of the Board of

  
	
   

  	
   

  	
  Directors of Ikanos Communications, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
  Address for
  Notice:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

 8

 

EXHIBIT A

Services and Compensation

1.               Contact. 
Consultant’s principal Company contacts:

Name: G. Venkatesh, Dan Atler and Nick Shamlou

2.               Services. 
The Services shall include, but shall not be limited to, the following:

Consultant will provide consulting and advisory services relating to matters
and projects or work in process that had been within the Consultant’s areas of
responsibility while he served as Chief Executive Officer of the Company,
including, without limitation, such appropriate tasks as the Company’s Board of
Directors (the “Board”) may request as necessary
and appropriate to assist his successor to transition into the position of the
Company’s Chief Executive Officer and traveling to key customers of the Company.  Consultant will be required to provide twenty
(20) hours per week in Services under this Agreement.

3.               Compensation.

A.    Consultant’s stock option to
purchase 175,483 shares of Company common stock granted on March 10, 2004 under
the Company’s 1999 Stock Plan (the “Option”) will
immediately vest and become exercisable as to the 100% of the unvested shares
subject thereto, after taking into account any acceleration of vesting under
the Employment Agreement upon the date the Separation Agreement becomes
effective.  The acceleration of vesting
provided for under this Section 3.A. will occur on the date the Separation
Agreement becomes effective and will not be contingent upon Executive providing
Services under the Agreement; provided, however, that nothing in this Section
3.A. or otherwise will prevent the Company from seeking damages or any other
remedy pursuant to law or equity for any breach by Consultant of this Agreement
or otherwise failing to provide Services.

B.    Consult will receive Company-paid coverage for Consultant and
Consultant’s eligible dependents under the Company’s Benefit Plans (as defined
in the Employment Agreement) until the termination of this Agreement (as
determined under Section 6 of this Agreement).

C.    The Company will reimburse
Consultant for all reasonable expenses incurred by Consultant in performing the
Services pursuant to this Agreement, if Consultant receives written consent
from an authorized agent of the Company prior to incurring such expenses and
submits receipts for such expenses to the Company in accordance with Company
policy.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00112-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00112-of-00352.parquet"}]]