Document:

Exhibit 10.8

 

M17 ENTERTAINMENT LIMITED

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made as of             , 2018 among M17 Entertainment Limited, a company established in the Cayman Islands with its registered address at Cayman Corporate Centre, 27 Hospital Road, George Town, Grand Cayman KY1-9008, Cayman Islands (the “Company”), and each of the Series A Preference Shareholders and Series B Preference Shareholders listed in Schedule 1 (collectively, the “Preference Shareholders”)  Except as otherwise specified herein, all capitalized terms used in this Agreement are defined in Exhibit A attached hereto.

 

In consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows:

 

Section 1                      Demand Registrations.

 

(a)         Requests for Registration.  At any time and from time to time, the Majority Holders may request registration under the Securities Act of all or any portion of their Registrable Securities on Form F-1 or any similar long-form registration (“Long-Form Registrations”) or on Form F-3 or any similar short-form registration (“Short-Form Registrations”), if available (any such requested registration, a “Demand Registration”).  The Majority Holders may request that any Demand Registration be made pursuant to Rule 415 under the Securities Act (a “Shelf Registration”) and (if the Company is a WKSI at the time any such request is submitted to the Company) that such Shelf Registration be an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (an “Automatic Shelf Registration Statement”).  Each request for a Demand Registration must specify the approximate number of Registrable Securities requested to be registered and (if known) the intended method of distribution.  The Majority Holders will be entitled to request an unlimited number of Demand Registrations in which the Company will pay all Registration Expenses, whether or not any such registration is consummated.

 

(b)         Notice to Other Holders.  Within ten days after receipt of any such request, the Company will give written notice of the Demand Registration to all other Holders and, subject to the terms of Section 1(e), will include in such Demand Registration (and in all related registrations and qualifications under state blue sky laws and in any related underwriting) all Registrable Securities with respect to which the Company has received written requests for inclusion therein within ten days after the receipt of the Company’s notice; provided that, with the consent of the Majority Holders, the Company may instead provide notice of the Demand Registration to all other Holders within three business days following the non-confidential filing of the registration statement with respect to the Demand Registration so long as such registration statement is not an Automatic Shelf Registration Statement.

 

(c)          Form of Registrations.  All Long-Form Registrations will be underwritten registrations unless otherwise approved by the Majority Holders.  Demand Registrations will be Short-Form Registrations whenever the Company is permitted to use any applicable short form and if the managing underwriters (if any) and the Majority Holders agree to the use of a Short-Form Registration.  After the Company has become subject to the reporting requirements of the Exchange Act, the Company will use its reasonable best efforts to make Short-Form Registrations available for the sale of Registrable Securities.

 

 

(d)         Shelf Registrations.

 

(i)                                     For so long as a registration statement for a Shelf Registration (a “Shelf Registration Statement”) is and remains effective, any Preference Shareholder will have the right at any time or from time to time to elect to sell pursuant to an offering (including an underwritten offering) Registrable Securities available for sale pursuant to such registration statement (“Shelf Registrable Securities”), provided such registered offerings are not less than US$2,000,000. Any Preference Shareholder may make such election by delivering to the Company a written notice (a “Shelf Offering Notice”) specifying the number of Shelf Registrable Securities that the holders desire to sell pursuant to such offering (the “Shelf Offering”).  As promptly as practicable, but in no event later than two business days after receipt of a Shelf Offering Notice, the Company will give written notice of such Shelf Offering Notice to all other Holders of Shelf Registrable Securities that have been identified as selling stockholders in such Shelf Registration Statement and are otherwise permitted to sell in such Shelf Offering.  The Company, subject to Section 1(e) and Section 6, will include in such Shelf Offering all Shelf Registrable Securities with respect to which the Company has received written requests for inclusion (which request will specify the maximum number of Shelf Registrable Securities intended to be disposed of by such Holder) within seven days after the receipt of the Shelf Offering Notice.  The Company will, as expeditiously as possible (and in any event within 20 days after the receipt of a Shelf Offering Notice), but subject to Section 1(e), use its reasonable best efforts to facilitate such Shelf Offering.

 

(ii)                                  The Company will, at the request of any Preference Shareholder, file any prospectus supplement or any post-effective amendments and otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable by such Preference Shareholder to effect such Shelf Offering.

 

(e)          Restriction on Demand Registration and Shelf Offering.

 

(i)                                     The Company will not be obligated to effect any Demand Registration (x) if such demand was made within 180 days after the Company’s initial public offering, (y) if the Company delivers notice to the Holders of the Registrable Securities within 30 days of any Registration Demand of the Company’s intent to file a registration statement for such initial public offering within 90 days, or (z) if there were more than two Demand Registrations and such registrations have been declared or ordered effective..

 

(ii)                                  The Company may postpone, for up to 90 days from the date of the request (the “Suspension Period”), the filing or the effectiveness of a registration statement for a Demand Registration or suspend the use of a prospectus that is part of a Shelf Registration Statement (and therefore suspend sales of the Shelf Registrable Securities) by providing written notice to the Holders if the Company determines that the offer or sale of Registrable Securities would reasonably be expected to have a material adverse effect on any proposal or plan by the Company or any Subsidiary to engage in any material acquisition of assets or stock (other than in the ordinary course of business) or any material merger, consolidation, tender offer, recapitalization, reorganization, financing or other transaction involving the Company.  The Company may delay or suspend the effectiveness of a Demand Registration or Shelf Offering pursuant to this Section 1(e)(ii) only once in any twelve-month period.

 

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(iii)                               In the case of an event that causes the Company to suspend the use of a Shelf Registration Statement as set forth in paragraph (f)(ii) above (a “Suspension Event”), the Company will give a notice to the Holders whose Registrable Securities are registered pursuant to such Shelf Registration Statement (a “Suspension Notice”) to suspend sales of the Registrable Securities and such notice must state generally the basis for the notice and that such suspension will continue only for so long as the Suspension Event or its effect is continuing.  Each Holder agrees not to effect any sales of its Registrable Securities pursuant to such Shelf Registration Statement (or such filings) at any time after it has received a Suspension Notice from the Company and prior to receipt of an End of Suspension Notice.  A Holder may recommence effecting sales of the Registrable Securities pursuant to the Shelf Registration Statement (or such filings) following further written notice to such effect (an “End of Suspension Notice”) from the Company, which End of Suspension Notice will be given by the Company to the Holders promptly following the conclusion of any Suspension Event.

 

(iv)                              Notwithstanding any provision herein to the contrary, if the Company gives a Suspension Notice with respect to any Shelf Registration Statement pursuant to this Section 1(e), the Company will extend the period of time during which such Shelf Registration Statement will be maintained effective pursuant to this Agreement by the number of days during the period from the date of receipt by the Holders of the Suspension Notice to and including the date of receipt by the Holders of the End of Suspension Notice and provide copies of the supplemented or amended prospectus necessary to resume sales, with respect to each Suspension Event.

 

(f)           Selection of Underwriters.  The Majority Holders will have the right to select the investment banker(s) and manager(s) to administer any underwritten offering in connection with Demand Registration, subject to the Company’s approval, which will not be unreasonably withheld, conditioned or delayed.

 

(g)          Other Registration Rights.  Except as provided in this Agreement, the Company will not grant to any Person(s) the right to request the Company or any Subsidiary to register any equity securities of the Company or any Subsidiary, or any securities convertible or exchangeable into or exercisable for such securities, without the prior written consent of the Majority Holders.

 

(h)         Revocation of Demand Notice or Shelf Offering Notice.  At any time prior to the effective date of the Registration Statement relating to a Demand Registration or the “pricing” of any offering relating to a Shelf Offering Notice, the Majority Holders may revoke such Demand Notice or Shelf Offering Notice on behalf of all Holders participating in such Demand Registration or Shelf Offering without liability to such Holders, in each case by providing written notice to the Company.

 

(i)             Confidentiality.  Each Holder agrees to treat as confidential the receipt of any notice hereunder (including notice of a Demand Registration, a Shelf Offering Notice and a Suspension Notice) and the information contained therein, and not to disclose or use the information contained in any such notice (or the existence thereof) without the prior written consent of the Company until such time as the information contained therein is or becomes available to the public generally (other than as a result of disclosure by such Holder in breach of the terms of this Agreement).

 

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Section 2                      Piggyback Registrations.

 

(a)         Right to Piggyback.  Whenever the Company proposes to register any of its equity securities under the Securities Act (including, but not limited to, registration statements relating to secondary offering of the Company’s securities, any registration pursuant to demand registration rights or Form F-3 registration right set forth in Section 1, but excluding registration statements relating to any employee benefit plan, Rule 144 transaction or a corporate reorganization) (a “Piggyback Registration”), the Company will give prompt written notice to all Holders of its intention to effect such Piggyback Registration and, subject to the terms of Section 2(b) and Section 2(c), will include in such Piggyback Registration (and in all related registrations or qualifications under blue sky laws and in any related underwriting) all Registrable Securities with respect to which the Company has received written requests for inclusion therein within 20 days after delivery of the Company’s notice.

 

(b)         Priority on Primary Registrations.  If a Piggyback Registration is an underwritten primary registration on behalf of the Company, and the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company will include in such registration (i) first, the securities the Company proposes to sell, (ii) second, the Registrable Securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect, pro rata among the Holders on the basis of the number of Registrable Securities owned by each such Holder, and (iii) third, other securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect.

 

(c)          Priority on Secondary Registrations.  If a Piggyback Registration is an underwritten secondary registration on behalf of holders of the Company’s equity securities (other than Majority Holders), and the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, the Company will include in such registration (i) first, the securities requested to be included therein by the holders initially requesting such registration and the Registrable Securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect, pro rata among the holders of such securities on the basis of the number of securities owned by each such holder, and (ii) second, other securities requested to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect.

 

(d)         Right to Terminate Registration.  The Company will have the right to terminate or withdraw any registration initiated by it under this Section 2, whether or not any holder of Registrable Securities has elected to include securities in such registration.

 

(e)          Restriction on Piggyback Registration

 

(i)                                     Any Piggyback Registration is subject to the right of the Company and its underwriters to reduce the number of shares proposed to be registered pro rata in view of market conditions. If any Holders are so limited, no party shall sell shares in such registration other than the Company, invoking the Demand Registration.

 

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(ii)                                  Unless the registration is with respect to the Company’s initial public offering, in no event shall the shares to be sold by the Holders be reduced below 30% of the total amount of shares included in such registration.

 

(iii)                               No shareholder of the Company shall be granted Piggyback Registration rights which would reduce the number of shares includable by the Holders in such registration without the consent of the Majority Holders.

 

Section 3                      Stockholder Lock-Up Agreements.

 

In connection with any underwritten Public Offering, each Holder will enter into any lock-up, holdback or similar agreements requested by the underwriter(s) managing such offering, in each case with such modifications and exceptions as may be approved by the Majority Holders.

 

Section 4                      Registration Expenses.

 

All reasonable expenses incurred in respect of the registration set forth in this Agreement (the “Registration Expenses”) shall be borne by the Company, save for expenses related to underwriting, discounts and commissions.

 

Section 5                      Indemnification and Contribution.

 

(a)         By the Company.  The Company will indemnify and hold harmless, to the fullest extent permitted by law, each Holder, such Holder’s officers, directors employees, agents and representatives, and each Person who controls such holder (within the meaning of the Securities Act) (the “Indemnified Parties”) against all losses, claims, actions, damages, liabilities and expenses (including with respect to actions or proceedings, whether commenced or threatened, and including reasonable attorney fees and expenses) (collectively, “Losses”) caused by, resulting from, arising out of, based upon or related to any of the following (each, a “Violation”) by the Company:  (i) any untrue or alleged untrue statement of material fact contained in (A) any registration statement, prospectus, preliminary prospectus or Free-Writing Prospectus, or any amendment thereof or supplement thereto or (B) any application or other document or communication (in this Section 5, collectively called an “application”) executed by or on behalf of the Company or based upon written information furnished by or on behalf of the Company filed in any jurisdiction in order to qualify any securities covered by such registration under the “blue sky” or securities laws thereof, (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading or (iii) any violation or alleged violation by the Company of the Securities Act or any other similar federal or state securities laws or any rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any such registration, qualification or compliance.  In addition, the Company will reimburse such Indemnified Party for any legal or any other expenses reasonably incurred by them in connection with investigating or defending any such Losses.  Notwithstanding the foregoing, the Company will not be liable in any such case to the extent that any such Losses result from, arise out of, are based upon, or relate to an untrue statement or alleged untrue statement, or omission or alleged omission, made in such registration statement, any such prospectus, preliminary prospectus or Free-Writing Prospectus or any amendment or supplement thereto, or in any application, in reliance upon, and in conformity with, written information prepared and furnished in writing to the Company by such Indemnified Party expressly for use therein or by such Indemnified Party’s failure to deliver a copy of the registration statement or prospectus or any amendments or supplements thereto after the Company has furnished such Indemnified Party with a sufficient number of copies of the same.  In connection with an underwritten offering, the Company will indemnify such underwriters, their officers and directors, and each Person who controls such underwriters (within the meaning of the Securities Act) to the same extent as provided above with respect to the indemnification of the Indemnified Parties.

 

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(b)         By Holders.  In connection with any registration statement in which a Holder is participating, each such Holder will furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such registration statement or prospectus and, to the extent permitted by law, will indemnify the Company, its officers, directors, employees, agents and representatives, and each Person who controls the Company (within the meaning of the Securities Act) against any Losses resulting from (as determined by a final and appealable judgment, order or decree of a court of competent jurisdiction) any untrue or alleged untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by such Holder expressly for use therein; provided that the obligation to indemnify will be individual, not joint and several, for each holder and will be limited to the net amount of proceeds received by such Holder from the sale of Registrable Securities pursuant to such registration statement.

 

(c)          Claim Procedure.  Any Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice will impair any Person’s right to indemnification hereunder only to the extent such failure has prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party.  If such defense is assumed, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld, conditioned or delayed).  An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. In such instance, the conflicted indemnified parties will have a right to retain one separate counsel, chosen by the Majority Holders, at the expense of the indemnifying party.

 

(d)         Contribution.  If the indemnification provided for in this Section 5 is held by a court of competent jurisdiction to be unavailable to, or is insufficient to hold harmless, an indemnified party or is otherwise unenforceable with respect to any Loss referred to herein, then such indemnifying party will contribute to the amounts paid or payable by such indemnified party as a result of such Loss, (i) in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other hand in connection with the statements or omissions which resulted in such Loss as well as any other relevant equitable considerations or (ii) if the allocation provided by clause (i) of this Section 5(d) is not permitted by applicable law, then in such proportion as is appropriate to reflect not only such relative fault but also the relative benefit of the Company on the one hand and of the sellers of Registrable Securities and any other sellers participating in the registration statement on the other in connection with the statement or omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided that the maximum amount of liability in respect of such contribution will be limited, in the case of each seller of Registrable Securities, to an amount equal to the net proceeds actually received by such seller from the sale of Registrable Securities effected pursuant to such registration.  The relative fault of the indemnifying party and of the indemnified party will be determined by reference to, among other things, whether the untrue (or, as applicable alleged) untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.  The parties hereto agree that it would not be just or equitable if the contribution pursuant to this Section 5(d) were to be determined by pro rata allocation or by any other method of allocation that does not take into account such equitable considerations.  The amount paid or payable by an indemnified party as a result of the Losses referred to herein will be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending against any action or claim which is the subject hereof.  No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation.

 

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(e)          Release. No indemnifying party will, except with the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement that does not include as an unconditional term thereof giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 

(f)           Non-exclusive Remedy; Survival. The indemnification and contribution provided for under this Agreement will be in addition to any other rights to indemnification or contribution that any indemnified party may have pursuant to law or contract and will remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and will survive the transfer of Registrable Securities and the termination or expiration of this Agreement.

 

Section 6                      Cooperation with Underwritten Offerings.  No Person may participate in any underwritten registration hereunder unless such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements (including, without limitation, pursuant to the terms of any over-allotment or “green shoe” option requested by the underwriters; provided that no Holder will be required to sell more than the number of Registrable Securities such Holder has requested to include in such registration) and (ii) completes, executes and delivers all questionnaires, powers of attorney, custody agreements, indemnities, underwriting agreements and other documents and agreements required under the terms of such underwriting arrangements or as may be reasonably requested by the Company and the lead managing underwriter(s).  To the extent that any such agreement is entered into pursuant to, and consistent with, Section 3, and/or this Section 6, the respective rights and obligations created under such agreement will supersede the respective rights and obligations of the Holders, the Company and the underwriters created thereby with respect to such registration.

 

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Section 7                      General Provisions.

 

(a)         Amendments and Waivers.  Except as otherwise provided herein, the provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Company and the Majority Holders.  The failure or delay of any Person to enforce any of the provisions of this Agreement will in no way be construed as a waiver of such provisions and will not affect the right of such Person thereafter to enforce each and every provision of this Agreement in accordance with its terms.  A waiver or consent to or of any breach or default by any Person in the performance by that Person of his, her or its obligations under this Agreement will not be deemed to be a consent or waiver to or of any other breach or default in the performance by that Person of the same or any other obligations of that Person under this Agreement.

 

(b)         Remedies.  The parties to this Agreement will be entitled to enforce their rights under this Agreement specifically (without posting a bond or other security), to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other rights existing in their favor.  The parties hereto agree and acknowledge that a breach of this Agreement would cause irreparable harm and money damages would not be an adequate remedy for any such breach and that, in addition to any other rights and remedies existing hereunder, any party will be entitled to specific performance and/or other injunctive relief from any court of law or equity of competent jurisdiction (without posting any bond or other security) in order to enforce or prevent violation of the provisions of this Agreement.

 

(c)          Severability.  Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited, invalid, illegal or unenforceable in any respect under any applicable law or regulation in any jurisdiction, such prohibition, invalidity, illegality or unenforceability will not affect the validity, legality or enforceability of any other provision of this Agreement in such jurisdiction or in any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such prohibited, invalid, illegal or unenforceable provision had never been contained herein.

 

(d)         Entire Agreement.  Except as otherwise provided herein, this Agreement contains the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or among the parties hereto, written or oral, which may have related to the subject matter hereof in any way.

 

(e)          Successors and Assigns.  Except as otherwise provided herein, this Agreement will bind and inure to the benefit and be enforceable by the Company and its successors and permitted assigns and the Holders and their respective successors and permitted assigns (whether so expressed or not).

 

(f)           Notices.  Any notice, demand or other communication to be given under or by reason of the provisions of this Agreement will be in writing and will be deemed to have been given (i) when delivered personally to the recipient, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient; but if not, then on the next Business Day, (iii) one Business Day after it is sent to the recipient by reputable overnight courier service (charges prepaid) or (iv) three Business Days after it is mailed to the recipient by first class mail, return receipt requested.  Such notices, demands and other communications will be sent to the Company at the address specified on the signature page hereto and to any holder, or at such address or to the attention of such other Person as the recipient party has specified by prior written notice to the sending party.  Any party may change such party’s address for receipt of notice by giving prior written notice of the change to the sending party as provided herein.  The Company’s address is:

 

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M17 Entertainment Limited 
 13F, No. 2, Sec. 5, Xinyi Road
 Xinyi District, Taipei City, Taiwan, Republic of China
 Attn: Group Chief Financial Officer, Shang-Hsiu Koo

 

With a copy to:

 

Kirkland & Ellis International LLP
  26th Floor, Gloucester Tower, The Landmark
 15 Queen’s Road Central, Hong Kong
 Attn: David T. Zhang, Esq.

 

or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party.

 

(g)          Business Days.  If any time period for giving notice or taking action hereunder expires on a day that is not a Business Day, the time period will automatically be extended to the Business Day immediately following such Saturday, Sunday or legal holiday.

 

(h)         Governing Law.  The corporate law of the State of New York will govern all issues and questions concerning the relative rights of the Company and its equityholders.  All other issues and questions concerning the construction, validity, interpretation and enforcement of this Agreement and the exhibits and schedules hereto will be governed by, and construed in accordance with, the laws of Cayman Islands, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of New York.

 

(i)             MUTUAL WAIVER OF JURY TRIAL.  AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY.

 

(j)            CONSENT TO JURISDICTION AND SERVICE OF PROCESS.  EACH OF THE PARTIES IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEW YOK, FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY.  EACH OF THE PARTIES HERETO FURTHER AGREES THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH PARTY’S RESPECTIVE ADDRESS SET FORTH ABOVE WILL BE EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO WHICH IT HAS SUBMITTED TO JURISDICTION IN THIS PARAGRAPH.  EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION TO THE LAYING OF VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE, AND HEREBY AND THEREBY FURTHER IRREVOCABLY AND UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION, SUIT OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

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(k)         No Recourse.  Notwithstanding anything to the contrary in this Agreement, the Company and each Holder agrees and acknowledges that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement, will be had against any current or future director, officer, employee, general or limited partner or member of any Holder or any Affiliate or assignee thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever will attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any Holder or any current or future member of any Holder or any current or future director, officer, employee, partner or member of any Holder or of any Affiliate or assignee thereof, as such for any obligation of any Holder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation.

 

(l)             Descriptive Headings; Interpretation.  The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement.  The use of the word “including” in this Agreement will be by way of example rather than by limitation.

 

(m)     No Strict Construction.  The language used in this Agreement will be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction will be applied against any party.

 

(n)         Counterparts.  This Agreement may be executed in multiple counterparts, any one of which need not contain the signature of more than one party, but all such counterparts taken together will constitute one and the same agreement.

 

(o)         Electronic Delivery.  This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of a photographic, photostatic, facsimile or similar reproduction of such signed writing using a facsimile machine or electronic mail will be treated in all manner and respects as an original agreement or instrument and will be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person.  At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto will re-execute original forms thereof and deliver them to all other parties.  No party hereto or to any such agreement or instrument will raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such defense.

 

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(p)         Further Assurances.  In connection with this Agreement and the transactions contemplated hereby, each Holder agrees to execute and deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate and perform the provisions of this Agreement and the transactions contemplated hereby.

 

(q)         Dividends, Recapitalizations, Etc..  If at any time or from time to time there is any change in the capital structure of the Company by way of a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment will be made in the provisions hereof so that the rights and privileges granted hereby will continue.

 

(r)            No Third-Party Beneficiaries. No term or provision of this Agreement is intended to be, or shall be, for the benefit of any Person not a party hereto, and no such other Person shall have any right or cause of action hereunder, except as otherwise expressly provided herein.

 

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IN WITNESS WHEREOF, the Parties have executed, or have caused their respective duly authorized representatives to execute, this Registration Rights Agreement as of the date first written above, and agree to comply with it.

 

 

	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
 
    

 

On behalf of:

 

 

EXHIBIT A

 

DEFINITIONS

 

Capitalized terms used in this Agreement have the meanings set forth below.

 

“Affiliate” of any Person means any other Person controlled by, controlling or under common control with such Person and, in the case of an individual, also includes any member of such individual’s Family Group; provided that the Company and its Subsidiaries will not be deemed to be Affiliates of any holder of Registrable Securities.  As used in this definition, “control” (including, with its correlative meanings, “controlling,” “controlled by” and “under common control with”) will mean possession, directly or indirectly, of power to direct or cause the direction of management or policies (whether through ownership of securities, by contract or otherwise).

 

“Agreement” has the meaning set forth in the recitals.

 

“Automatic Shelf Registration Statement” has the meaning set forth in Section 1(a).

 

“Company” has the meaning set forth in the preamble and shall include its successor(s).

 

“Demand Registrations” has the meaning set forth in Section 1(a).

 

“End of Suspension Notice” has the meaning set forth in Section 1(e)(iii).

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any successor federal law then in force, together with all rules and regulations promulgated thereunder.

 

“Family Group” means with respect to any individual, such individual’s current or former spouse, their respective parents, descendants of such parents (whether natural or adopted) and the spouses of such descendants, any any trust, limited partnership, corporation or limited liability company established solely for the benefit of such individual or such individual’s current or former spouse, their respective parents, descendants of such parents (whether natural or adopted) or the spouses of such descendants.

 

“Free Writing Prospectus” means a free-writing prospectus, as defined in Rule 405.

 

“Holder” means a holder of Registrable Securities who is a party to this Agreement.

 

“Indemnified Parties” has the meaning set forth in Section 5(a).

 

“Preference Shareholders” has the meaning set forth in the recitals.

 

“Preference Shareholder Registrable Securities” means any Ordinary Shares to be issued on conversion of the Series A Preference Shares or the Series B Preference Shares.

 

A-1

 

“Long-Form Registrations” has the meaning set forth in Section 1(a).

 

“Losses” has the meaning set forth in Section 5(c).

 

“Majority Holders” means the holders of a majority of the Preference Shareholder Registrable Securities.

 

“Ordinary Shares” means an ordinary share with the nominal or par value of US$0.0001 each in the capital of the Company.

 

“Person” means an individual, a partnership, a corporation, a limited liability company, 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.

 

“Piggyback Registrations” has the meaning set forth in Section 2(a).

 

“Public Offering” means any sale or distribution by the Company, one of its Subsidiaries and/or Holders to the public of Ordinary Shares or other securities convertible into or exchangeable for Ordinary Shares pursuant to an offering registered under the Securities Act.

 

“Registrable Securities” means Preference Shareholder Registrable Securities .  As to any particular Registrable Securities, such securities will cease to be Registrable Securities when they have been (a) sold or distributed pursuant to a Public Offering, (b) sold in compliance with Rule 144 following the consummation of the Company’s initial Public Offering, or (c) repurchased by the Company or a Subsidiary of the Company.  For purposes of this Agreement, a Person will be deemed to be a holder of Registrable Securities, and the Registrable Securities will be deemed to be in existence, whenever such Person has the right to acquire, directly or indirectly, such Registrable Securities (upon conversion or exercise in connection with a transfer of securities or otherwise, but disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has actually been effected, and such Person will be entitled to exercise the rights of a holder of Registrable Securities hereunder (it being understood that a holder of Registrable Securities may only request that Registrable Securities in the form of Ordinary Shares be registered pursuant to this Agreement).

 

“Registration Expenses” has the meaning set forth in Section 4.

 

“Rule 144”, “Rule 158”, “Rule 405”, “Rule 415”, “Rule 403B” and “Rule 462” mean, in each case, such rule promulgated under the Securities Act (or any successor provision) by the SEC, as the same will be amended from time to time, or any successor rule then in force.

 

“SEC” means the United States Securities and Exchange Commission.

 

“Securities Act” means the Securities Act of 1933, as amended from time to time, or any successor federal law then in force, together with all rules and regulations promulgated thereunder.

 

“Shelf Offering” has the meaning set forth in Section 1(d)(i).

 

A-2

 

“Shelf Offering Notice” has the meaning set forth in Section 1(d)(i).

 

“Shelf Registration” has the meaning set forth in Section 1(a).

 

“Shelf Registrable Securities” has the meaning set forth in Section 1(d)(i).

 

“Shelf Registration Statement” has the meaning set forth in Section 1(d).

 

“Short-Form Registrations” has the meaning set forth in Section 1(a).

 

“Subsidiary” means, with respect to the Company, any corporation, limited liability company, partnership, association or other business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by the Company or one or more of the other Subsidiaries of the Company or a combination thereof, or (ii) if a limited liability company, partnership, association or other business entity, a majority of the limited liability company, partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by the Company or one or more Subsidiaries of the Company or a combination thereof.  For purposes hereof, a Person or Persons will be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons will be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or will be or control the managing director or general partner of such limited liability company, partnership, association or other business entity.

 

“Suspension Event” has the meaning set forth in Section 1(e)(iii).

 

“Suspension Notice” has the meaning set forth in Section 1(e)(iii).

 

“Suspension Period” has the meaning set forth in Section 1(e)(ii).

 

“Violation” has the meaning set forth in Section 5(a).

 

“WKSI” means a “well-known seasoned issuer” as defined under Rule 405.

 

A-3

 

SCHEDULE 1

 

PREFERENCE SHAREHOLDERS OF THE COMPANY

 

	
No.
    	
 
    	
Shareholder
    	
 
    	
Details
    
	
1.
    	
 
    	
Vertex Asia Fund (Singapore) Pte. Ltd
    	
 
    	
Address:
    	
250 North Bridge Road, #11-01
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Raffles City Tower, Singapore 179101
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Mr. Chua Joo Hock
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
jhchua@vertexventures.com
    
	
2.
    	
 
    	
Majuven Fund 1 Ltd (“Majuven”)
    	
 
    	
Address:
    	
36 Armenian Street, #04-05, Singapore 179934
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Mr. Lim Ho Kee / Mr. Rohit Singh
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
hokee@majuven.com
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
rohit@majuven.com
    
	
3.
    	
 
    	
Convergence Capital 1 Holdings Ltd (“Convergence”)
    	
 
    	
Address:
    	
Room 905-909, 9th Floor, Yu To Sang
    
	
 
    	
 
    	
 
    	
 
    	
Building 37 Queen’s Road Central,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Hong Kong
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Mr. Adrian Li
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
adrian@convergencevc.com
    
	
4.
    	
 
    	
PT Senjaya Tunggal Sakti (“PT Senjaya”)
    	
 
    	
Address:
    	
Da Vinci Tower, 26th Floor,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
J1. Jenderal Sudirman Kav. 12 RT/RW
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
009/011 Karet Tengsin, Tanah abang,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Jakarta Pusat, Indonesia
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Lo Hengky Senjaya
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
hengky@senjaya.co.id
    
	
5.
    	
 
    	
Lim Ho Kee
    	
 
    	
Address:
    	
15 St Thomas Walk, #28-15
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Grange Heights, Singapore 238143
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Lim Ho Kee
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
hokee@majuven.com
    
	
6.
    	
 
    	
Chung Yuk Yin Barnabas
    	
 
    	
Address:
    	
483 Yio Chu Kang Road, #11-13
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Castle Green, Singapore 787057
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Barnabas Chung
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
barnabaschung@yahoo.com
    
	
7.
    	
 
    	
Zhiyuan William Ho (“William Ho”)
    	
 
    	
Address:
    	
Flat 16D, The Warren, 9 Warren Street
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Tai Hang, Hong Kong
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Zhiyuan William Ho
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
ho.will@gmail.com
    
	
8.
    	
 
    	
Phua Angela
    	
 
    	
Address:
    	
145 Cove Drive, Singapore 098027
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Angela Phua
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
phuaangela@gmail.com
    
	
9.
    	
 
    	
Lee Ching Yen Stephen (“Stephen Lee”)
    	
 
    	
Address:
    	
12 Bin Tong Park, Singapore 269794
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Lee Ching Yen Stephen
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
slee@gmt.com.sg
    

 

 

	
No.
    	
 
    	
Shareholder
    	
 
    	
Details
    
	
10.
    	
 
    	
YJ2 Investment Partnership (“YJ Capital”)
    	
 
    	
Address:
    	
Kioi Tower, Tokyo Garden Terrace
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Kioicho, 1-3 Kioicho, Chiyoda-ku,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Tokyo 102-8282, Japan
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Hirotaka Yasunaga/Shinichiro Hori
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
hyasunag@yahoo-corp.jp
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
shori@yahoo-corp.jp
    
	
11.
    	
 
    	
Global Grand Leisure Pte. Ltd (“GCL”)
    	
 
    	
Address:
    	
7030 Ang Mo Kio Avenue 5, #09-90
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Northstar @ AMK, Singapore 569880
    
	
 
    	
 
    	
 
    	
 
    	
Address:
    	
Savva Pavlov
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
savvap@gmail.com
    
	
12.
    	
 
    	
Sebrina Holdings Venture Capital Pte. Ltd. (“Sebrina Holdings”)
    	
 
    	
Address:
    	
38 Beach Road, #16-12 South Beach Tower, Singapore 189767
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Raouf Kizilbash / Alice Mak
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
raouf@sebrinaholdings.com
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
alice@sebrinaholdings.com
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
zoe@sebrinaholdings.com
    
	
13.
    	
 
    	
MCN Investments Ltd (“MCN”)
    	
 
    	
Address:
    	
3 Fraser Street, #05-28 DUO Tower,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Singapore 189352
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Tan Tye-Renn Daren (Chen Dairen Daren)
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
daren.tan@goldenequator.com
    
	
14.
    	
 
    	
Pav Investments Pte. Ltd. (“Pavilion Capital”)
    	
 
    	
Address:
    	
Pav Investments Pte. Ltd.

3 Fraser Street

#10-23 Duo Tower
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Singapore 189352
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Jason Ho/Koh Wai Kit/ TC Lim
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
ops@pavcap.com.sg;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
legal@pavcap.com.sg;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
jasonho@pavcap.com.sg
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
waikit@pavcap.com.sgt
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
chuangcheio@pavcap.com.sg
    
	
15.
    	
 
    	
Ng Jing Shen (“Jing Shen”)
    	
 
    	
Address:
    	
19 Queen Astrid Park, Singapore 266822
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Ng Jing Shen
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
jingshen@gopaktor.com
    
	
16.
    	
 
    	
PT MNC Media Investasi (“MNC Indonesia”)
    	
 
    	
Address
    	
MNC Tower 27th Floor. Jl Kebon Sirih
    
	
 
    	
 
    	
 
    	
 
    	
17-19. Jakarta 10340, Indonesia
    
	
 
    	
 
    	
 
    	
 
    	
Attention
    	
Faisal Dharma Setiawan / Ella Kartika /
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
David Fernando Audy
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
faisal.setiawan@mncgroup.com;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
ella.kartika@mncgroup.com;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
david.audy@mncgroup.com
    
	
17.
    	
 
    	
Liu, Qin 刘芹 (“Richard Liu”)
    	
 
    	
Address:
    	
No.380, Wu Yuan Road, Xu Hui District,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Shanghai 200031, China
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Richard Liu
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
richardliu@morningsidevc.com
    
	
18.
    	
 
    	
AL BWF Fund
   C/O Havard Business Services, Inc.
    	
 
    	
Address:
    	
PO Box 171305, Salt Lake City, UT 84117, USA
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Colin Hodge
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
colin@gopaktor.com
    

 

 

	
No.
    	
 
    	
Shareholder
    	
 
    	
Details
    
	
19.
    	
 
    	
Danchelle Limited
    	
 
    	
Address:
    	
P.O. Box 957 Offshore Incorporations
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Centre, Road Town, Tortola,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
British Virgin Islands.
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Danny Yeung
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
yeung22@gmail.com
    
	
20.
    	
 
    	
KTB China Synergy Fund (“KTB”)
    	
 
    	
Address:
    	
10F, Uspace 2A Dong, 670
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Daewangpangyo-ro, Bundang-gu,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Seongnam-city, Gyeonggi-do 13494,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Republic of Korea.
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Chihoon Hyun
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
jh.hyun@ktbchina.com
    
	
21.
    	
 
    	
Prometheus Capital (International) Co., Ltd   (“Prometheus Capital”)
    	
 
    	
Address:
    	
31/F, 3 Corporate Avenue, 168 Hu Bin Road, Huangpu District   Shanghai PRC
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
张垚菲
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
zhangyaofei@pusicapital.com
    
	
22.
    	
 
    	
Leadway Asia Pacific Limited
    	
 
    	
Address:
    	
Flat B 22/F Blk 8, The Hermitage,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Kowloon, Hong Kong
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Wong, Ta Wei
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
david@17.media
    
	
23.
    	
 
    	
Liu, Po-Yuan
    	
 
    	
Address:
    	
10F, No. 96, Yongzhen Road, Yonghe
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
District, New Taipei City 234, Taiwan
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
陳依如   Kat Chen
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
katchen@gamania.com
    
	
24.
    	
 
    	
Wong, Ta Wei
    	
 
    	
Address:
    	
Flat B 22/F Blk 8, The Hermitage,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Kowloon, Hong Kong
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Wong, Ta Wei
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
david@17.media
    
	
25.
    	
 
    	
Lin, Chih-Chen
    	
 
    	
Address:
    	
6/F, No. 178, Section 1, Keelung Rd,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Xinyi District, Taipei 110, Taiwan
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Ching Tseng/ Lin, Chih-Chen
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
gaga@appworks.tw
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
ching@appworks.tw
    
	
26.
    	
 
    	
Ng Lawrence Chun Hung
    	
 
    	
Address:
    	
5F., No.8, Sec. 5, Nanjing E. Rd., Songshan
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Dist., Taipei City 10597, Taiwan(R.O.C.)
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
NG Lawrence Chun Hung
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
lawrence@lngmgmt.com
    
	
27.
    	
 
    	
Infinity e. Ventures Asia III, L.P. (“IVP”)
    	
 
    	
Address:
    	
Maples Corporate Service Limited, PO Box
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
309, Ugland House, South Church Street,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
George Town, Grand Cayman, KY1-1104,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Cayman Islands
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Akio Tanaka
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
akio@17.media;
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
akio@infinityventures.com
    
	
28.
    	
 
    	
Prince Bernhard of Baden
    	
 
    	
Address:
    	
S.K.H. Prinz Bernhard von Baden, Schloss
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Salem, DE-88682 Salem, Germany
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Peter Nünlist
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
peter.nuenlist@peternuenlist.ch
    

 

 

	
No.
    	
 
    	
Shareholder
    	
 
    	
Details
    
	
29.
    	
 
    	
K2 Global, L.P.
    	
 
    	
Address:
    	
190 Elgin Avenue, George Town
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Grand Cayman KY1-9005, Cayman Islands
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Ozi Amanat
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
ozi@k2globalvc.com
    
	
30.
    	
 
    	
Michael Darwin Zee
    	
 
    	
Address:
    	
75 View Street, Los Altos CA 94022,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
USA
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Michael Darwin Zee
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
Michael.zee@gmail.com
    
	
31.
    	
 
    	
Golden Summit International Ltd
    	
 
    	
Address:
    	
Vanterpool Plaza, 2nd Floor Wickhams
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Cay 1, Road Town Tortola, British
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Virgin Islands
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Thomas Chan
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
thomas.chan@goldensummitcapital.com
    
	
32.
    	
 
    	
M17 Growth SPV LLC
    	
 
    	
Address:
    	
Walkers Corporate Limited, Cayman
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Corporate Centre, 27 Hospital Road,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
George Town, Grand Cayman, KY1-9008,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Cayman Islands
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Joyce Hsieh
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
joyce@abico.cc
    
	
33.
    	
 
    	
Abico Asia Capital Corporation
    	
 
    	
Address:
    	
6F-2, No. 248, Sec.3, Nanjing E. Road,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Taipei 105, Taiwan (R.O.C.)
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Lester Ho
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
Lester.ho@abico.com.tw
    
	
34.
    	
 
    	
Ability I Venture Capital Corporation
    	
 
    	
Address:
    	
10F, No.101, Fuxing N. Road., Taipei 105,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Taiwan (R.O.C.)
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Philip Chao, Jully Huang
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
Philip.chao@abico.com.tw,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
jully.huang@abico.com.tw
    
	
35.
    	
 
    	
Global Gateway Fund I
    	
 
    	
Address:
    	
14F, NC Tower, 509, Teheran-ro,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Gangnam-gu, 06169, Korea
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Jonathan C. Kim, Daniel Nahm
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
jkim@redbadgepacific.com
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
dwanahm@sbigroup.co.kr
    
	
36.
    	
 
    	
Northpark Advisory Ltd.
    	
 
    	
Address:
    	
Vistra Corporate Services Centre,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Wickhams Cay II, Road Town, Tortola
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
VG1110, British Virgin Islands
    
	
37.
    	
 
    	
Talent Dragon Co., Ltd.
    	
 
    	
Address:
    	
Room 107, Orlon Complex, Victoria,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Mahe, Seychelles
    
	
38.
    	
 
    	
Chia Nine Investment Co., Ltd.
    	
 
    	
Address:
    	
10F, No. 101, Fuxing N. Road Taipei City
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Taiwan 10595
    
	
39.
    	
 
    	
Dragon Alexander Limited
    	
 
    	
Address:
    	
Wickhams Cay II Road Town Tortola
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
VG1110 British Virgin Islands
    
	
40.
    	
 
    	
Chiung-Shiung Tung
    	
 
    	
Address:
    	
10F, No. 101, Fuxing N. Road Taipei City
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Taiwan 10595
    
	
41.
    	
 
    	
Ronald Issen
    	
 
    	
Address:
    	
Apartment 3A, Magazine Heights 17
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Magazine Gap Road Mid-Levels Hong Kong
    

 

 

	
No.
    	
 
    	
Shareholder
    	
 
    	
Details
    
	
42.
    	
 
    	
Ho Kheng Lian
    	
 
    	
Address:
    	
55 Richards Avenue Singapore 546470
    
	
43.
    	
 
    	
Vertex Ventures SEA Fund III Pte. Ltd.
    	
 
    	
Address:
    	
250 North Bridge Road #11-01 Raffles City
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Tower Singapore 179101
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Mr. Chua Joo Hock
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
jhchua@vertexventures.com
    
	
44.
    	
 
    	
Majuven Fund 2 L.P.
    	
 
    	
Address:
    	
36 Armenian Street, #04-05 Singapore 179934
    
	
45.
    	
 
    	
DBS Bank Ltd.
    	
 
    	
Address:
    	
12 Marina Boulevard Marina Bay Financial
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Centre Tower 3, Singapore 018982
    
	
46.
    	
 
    	
Innoven Capital Singapore Pte. Ltd.
    	
 
    	
Address:
    	
16 Collyer Quay, #23-01, Income at Raffles,
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
Singapore 049318
    
	
 
    	
 
    	
 
    	
 
    	
Attention:
    	
Chin Chao
    
	
 
    	
 
    	
 
    	
 
    	
Email address:
    	
chin@innovencapital.comExhibit

Exhibit 10.1

QUALCOMM INCORPORATED EXECUTIVE OFFICER CHANGE IN CONTROL SEVERANCE PLAN 
Introduction 
The Compensation Committee of the Board of Directors of Qualcomm Incorporated (the “Company”) recognizes that the possibility of a Change in Control of the Company, and the uncertainty it creates, may result in the loss or distraction of employees of the Company to the detriment of the Company and its stockholders. 
The Committee considers the avoidance of such loss and distraction to be essential to protecting and enhancing the best interests of the Company and its stockholders. The Committee also believes that when a Change in Control is perceived as imminent, or is occurring, the Committee should be able to receive and rely on disinterested service from employees regarding the best interests of the Company and its stockholders without concern that employees might be distracted or concerned by the personal uncertainties and risks created by the perception of an imminent or occurring Change in Control. 
In addition, the Committee believes that it is consistent with the Company’s employment practices and policies and in the best interests of the Company and its stockholders to treat fairly its employees whose employment terminates in connection with or following a Change in Control. 
Accordingly, the Committee has determined that appropriate steps should be taken to assure the Company of the continued employment and attention and dedication to duty of its employees and to seek to ensure the availability of their continued service, notwithstanding the possibility or occurrence of a Change in Control. 
Therefore, in order to fulfill the above purposes, the following plan has been developed and is hereby adopted. 
1. Establishment of Plan. As of the Effective Date, the Company hereby establishes the Qualcomm Incorporated Executive Officer Change in Control Severance Plan, as set forth in this document. 
2. Definitions. As used herein the following words and phrases shall have the following respective meanings: 
(a) Affiliate. Any company controlled by, controlling or under common control with the Company.
(b) Base Salary. The annual base rate of compensation payable to a Participant by the Company or any of its Subsidiaries, before deductions or voluntary deferrals authorized by the Participant or required by law to be withheld from the Participant by the Company or any of its Subsidiaries. 
(c) Board. The Board of Directors of the Company. 

Exhibit 10.1

(d) Bonus Amount. The Participant’s annual target bonus for the fiscal year in which the Change in Control occurs or, if higher, the fiscal year in which the Date of Termination occurs, provided, that if annual target bonuses have not been established for the Participant and Participants generally for the fiscal year in which the Change in Control occurs, the Bonus Amount for the fiscal year in which the Change in Control occurs shall be deemed to be the Participant’s annual target bonus for the fiscal year immediately preceding the fiscal year in which the Change in Control occurs.
(e) Cause. A termination for “Cause” shall have occurred where a Participant’s employment is terminated because of: (i) the Participant’s willful misconduct that is materially and demonstrably injurious to the Company or any of its Subsidiaries; (ii) the Participant’s willful and improper use or disclosure of confidential or proprietary information that is materially and demonstrably injurious to the Company or any of its Subsidiaries; (iii) the Participant’s willful refusal to substantially perform his or her duties; or (iv) the Participant’s conviction (including any plea of guilty or nolo contendere) of a criminal act which impairs the Participant’s ability to perform his or her duties with the Company or any of its Subsidiaries; provided that, the Company will provide the Participant with written notice describing the facts and circumstances that the Company believes constitutes Cause and, in cases where cure is possible, Participant shall first be provided a 30-day cure period during which he or she may cure the circumstances alleged to constitute Cause.
(f) Change in Control. A “Change in Control” shall have the meaning set forth in the Company’s 2016 Long-Term Incentive Plan.
(g) Change in Control Period. The two-year period beginning upon the occurrence of a Change in Control; provided that in the event that a subsequent Change in Control occurs during such a two-year period, the Change in Control Period shall extend for the two-year period following the subsequent Change in Control. 
(h) Code. The Internal Revenue Code of 1986, as amended from time to time. 
(i) Committee. The Compensation Committee of the Board.
(j) Company. Qualcomm Incorporated and any successor thereto or, if applicable, the ultimate parent of any such successor. 
(k) Date of Termination. The date of receipt of a notice of termination from the Company or the Participant as applicable or any later date specified in the notice of termination, which date shall not be more than 30 days after the giving of such notice. The Company and the Participant shall take all steps necessary (including with regard to any post-termination services by the Participant) to ensure that any termination under this Plan constitutes a “separation from service” within the meaning of Section 409A of the Code, and notwithstanding anything contained herein to the contrary, the date on which such separation from service takes place shall be the “Date of Termination.” 

Exhibit 10.1

(l) Disability. A termination for “Disability” shall have occurred if a Participant’s employment is terminated because of a disability entitling him or her to long-term disability benefits under the applicable long-term disability plan of the Company or any of its Subsidiaries. 
(m) Effective Date. May 24, 2018. 
(n) Employee. Any regular, full-time employee or part-time employee (who is regularly scheduled to work at least twenty (20) hours per week) of the Company or any of its Subsidiaries. Part-time employees who are regularly scheduled to work less than twenty (20) hours per week (other than by reason of being on qualified leave of absence) and individuals who are classified by the Company or any of its Subsidiaries as independent contractors and temporary (contingent) workers are not Employees; provided that Employee shall not include any person who otherwise qualifies as an Employee who has as of the Effective Date provided or received a notice of termination of employment. 
(o) Good Reason. With respect to any Participant, the occurrence of any of the following events upon or after a Change in Control, without the Participant’s prior written consent: (i) the assignment to the Participant of any duties, or any limitation of the Participant’s responsibilities, substantially inconsistent with the Participant’s positions, duties, responsibilities and status with the Company immediately prior to the date of a Change in Control; (ii) an adverse change to the Participant in the Participant’s title or reporting relationship; (iii) the relocation of the principal place of the Participant’s employment or service to a location that is more than fifty (50) miles from the Participant’s principal place of employment or service immediately prior to the date of a Change in Control, or the imposition of travel requirements substantially more demanding of the Participant than such travel requirements existing immediately prior to the date of the Change in Control; (iv) any failure by the Company to pay, or any material reduction by the Company of, (A) the Participant’s Base Salary in effect immediately prior to the date of a Change in Control, or (B) the Participant’s bonus compensation, if any, in effect immediately prior to the date of a Change in Control (subject to applicable performance requirements with respect to the actual amount of bonus compensation earned by the Participant); (v) any failure by the Company to (A) continue to provide the Participant with the opportunity to participate, on terms no less favorable than those in effect for the benefit of any employee or service provider group which customarily includes a person holding the employment or service provider position or a comparable position with the Company then held by the Participant, in any benefit or compensation plans and programs, including, but not limited to, the Company’s life, disability, health, dental, medical, savings, profit sharing, stock purchase and retirement plans, if any, in which the Participant was participating immediately prior to the date of the Change in Control, or their equivalent, or (B) provide the Participant with all other fringe benefits (or their equivalent) from time to time in effect for the benefit of any employee group which customarily includes a person holding the employment or service provider position or a comparable position with the Company then held by the Participant; (vi) any breach by the Company of any material agreement between the Participant and the Company concerning the Participant’s employment; or (vii) any failure by the Company to obtain the assumption of any material agreement between the Participant and the Company 

Exhibit 10.1

concerning the Participant’s employment by a successor or assignee of the Company or any breach of the provisions of Section 9 of this Plan. Notwithstanding the foregoing, in order to invoke a termination for Good Reason under the Plan, a Participant must provide written notice to the Company of the existence of one or more of the conditions or events described in clauses (i)-(vi) within 90 days after having knowledge of such condition or conditions, and the Company shall have 30 days following receipt of such written notice (the “Cure Period”) during which it may cure the condition or event, if curable. In the event that the Company fails to cure any condition or event constituting Good Reason during the Cure Period, the Participant may resign at any time during the Change in Control Period for Good Reason. For purposes of the Qualcomm Incorporated 2006 Long-Term Incentive Plan and Qualcomm Incorporated 2016 Long-Term Incentive Plan, a resignation for Good Reason shall be deemed to be an involuntary termination by the Company without “cause”.
(p) Monthly Pay. The quotient obtained by dividing (i) the sum of (A) the Participant’s Required Base Salary and (B) the Participant’s Bonus Amount by (ii) 12.
(q) Participant. An Employee who meets the eligibility requirements of Section 3. 
(r) Plan. The Qualcomm Incorporated Executive Officer Change in Control Severance Plan. 
(s) Potential Change in Control. The occurrence of either of the following: (i) the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control or (ii) the Company or any Person publicly announces an intention to take or to consider taking actions which, if consummated, would constitute a Change in Control.
(t) Potential Change in Control Period. The period beginning upon the occurrence of a Potential Change in Control and ending upon the earliest to occur of the: (i) consummation of the Change in Control or (ii) one-month anniversary of the abandonment of the transaction or series of transactions that constitute a Potential Change in Control. 
(u) Qualified Termination. Any termination of a Participant’s employment, during the Change in Control Period, by the Company or any of its Subsidiaries other than for Cause, death or Disability, or by the Participant for Good Reason. Notwithstanding the foregoing, if a Change in Control occurs and if the Participant’s employment with the Company is terminated without Cause within six months prior to the date on which the Change in Control occurs, and if it is reasonably demonstrated by the Participant that such termination of employment (i) was at the request of a third party that has taken steps reasonably calculated to effect a Change in Control or (ii) otherwise arose in connection with or anticipation of a Change in Control, then a “Qualified Termination” shall be deemed to have occurred on the Change in Control. For the avoidance of doubt, a Qualified Termination shall not occur solely as a result of (i) a transfer of employment in which the Participant remains employed by the Company or one if its Subsidiaries, or (ii) subject to the provisions of Section 9 and Section 2(o)(vii) of the Plan, the sale, transfer or other disaffiliation of one or more Subsidiaries in which the Participant remains employed by the Company or the Subsidiary, or the transfer of employment by a 

Exhibit 10.1

Participant to a third party in connection with a sale, transfer or other disaffiliation of the assets or business of the Company or any of its Subsidiaries.
(v) Required Base Salary. With respect to any Participant, the higher of (i) the Participant’s Base Salary as in effect immediately prior to the Change in Control and (ii) the Participant’s highest Base Salary in effect at any time thereafter.
(w) Separation Number. A number equal to (i) 24, in the case of the Company’s Chief Executive Officer and Executive Chairman; and (ii) 18, in the case of the Company’s President and the Company’s Executive Vice Presidents
(x) Subsidiary. Any company (including, for the avoidance of doubt and without limitation, any joint venture), which is at least 50 percent owned, directly or indirectly, by the Company.
(y) U.S. Participant. Any Employee who meets the eligibility requirements of Section 3 and is U.S.-based or is a U.S. Employee who is on an assignment outside the U.S. 
3. Eligibility. Each Employee who, at the Change in Control, is an Employee that is the Chief Executive Officer of the Company, President of the Company or an Executive Vice President of the Company.
4. Separation Benefits.
(a) Separation Benefits In the event that a Participant suffers a Qualified Termination, the Company shall pay such Participant, no later than the date that is 60 days following the Date of Termination, a lump sum in cash equal to the sum of (i) the portion of the Participant’s Base Salary earned to date and not paid and, if applicable, any accrued vacation pay through the Date of Termination to the extent not theretofore paid, (ii) any unreimbursed business expenses incurred prior to the Date of Termination that are reimbursable pursuant to the Company’s policies applicable to executives of the Company generally, (iii) the Participant’s annual bonus for the fiscal year immediately preceding the fiscal year in which the Date of Termination occurs to the extent such bonus has been determined but not theretofore paid, (iv) subject to the Participant’s execution and non-revocation before the 60th day following the Date of Termination of a general release of claims in the form attached hereto as Exhibit A (the “Release”), the product of (A) the Bonus Amount and (B) a fraction, the numerator of which is the number of days in the fiscal year of the Company through the Date of Termination and the denominator of which is 365, and (v) subject to the Participant’s execution and non-revocation of the Release, the Monthly Pay times the Separation Number.
(b) COBRA Premiums. In addition, in the event a Participant suffers a Qualified Termination, subject to the Participant’s execution and non-revocation of the Release and timely election to receive continuation coverage under Section 4980B of the Code (“COBRA”), the Company shall pay in monthly installments the Participant’s premiums for health continuation coverage for Participant and his eligible dependents under COBRA, based 

Exhibit 10.1

on his individual and dependent elections as of immediately prior to the Date of Termination, until the end of the shorter of (i) a number of months equal to the Separation Number and (ii) the COBRA continuation period.
(c) Equity Awards. In addition, in the event a Participant suffers a Qualified Termination, notwithstanding any provision in an award agreement (an “Award Agreement”) evidencing performance stock units that was granted to the Participant on or prior to the Effective Date and is outstanding and unvested on the Date of Termination (each, a “PSU”) to the contrary, as applicable, effective as of the date on which the Release becomes non-revocable, (1) the Participant will be vested in the PSU upon a Qualified Termination, (2) the Participant will be paid a number of shares of Stock equal to the sum of (x) the number of RTSR Shares Earned (except that the Performance Period for this determination will be the period beginning on the date specified in the applicable Grant Notice and ending on the last day of the Company’s fiscal year in which the Qualified Termination occurs) and (y) the number of Target ROIC Shares specified in the applicable Grant Notice, and (3) for the avoidance of doubt, to the extent the number of shares of Stock earned is subject to pro ration under the terms of applicable Award Agreement upon a Termination After a Change in Control, such shares of Stock shall not be subject to pro ration. Shares of Stock payable pursuant to the immediately preceding sentence shall be paid within the 30 days after the date on which the Committee determines and certifies in writing the number of shares of Stock that are payable pursuant to the immediately preceding sentence, which determination and certification shall be made by the Committee no later than the November 30th that next follows the end of the Company’s fiscal year in which such Qualified Termination occurs. Notwithstanding anything in an Award Agreement to the contrary, during the Change in Control Period and under circumstances covered by the second sentence of the definition of Qualified Termination, the definition of “Cause” as set forth in this Plan (and not the definition of “Cause” set forth in the applicable Award Agreement) shall govern. All capitalized terms used in this Section 4(c) but not defined in this Plan shall have the meaning ascribed to such terms in the applicable Award Agreement.
(d) Other Benefits Payable. Nothing in this Plan shall prevent or limit a Participant’s continuing or future participation in any benefit, bonus, incentive or other plan, program, arrangement or policy provided by the Company or any of its Affiliates for which a Participant and/or Participant’s dependents may qualify. Amounts that are vested benefits or that a Participant and/or a Participant’s dependents are otherwise entitled to receive under any plan, program, arrangement, or policy of the Company or any of its Affiliates shall be payable in accordance with such plan, program, arrangement or policy. The payments provided pursuant to Section 4 shall be provided in addition to, and not in lieu of, all other accrued or vested or earned but deferred compensation, retention bonuses, rights, options or other benefits which may be owed to a Participant upon or following termination, including but not limited to amounts or benefits payable under any bonus or other compensation plans, stock option plan, stock ownership plan, stock purchase plan, life insurance plan, health plan, disability plan or similar or successor plan. Notwithstanding the foregoing, if the Participant receives payments and benefits pursuant to Section 4 of this Plan, the Participant shall not be entitled to any severance pay or benefits under any severance plan program, policy, agreement or other 

Exhibit 10.1

arrangement of the Company and its Affiliates (including for the avoidance of doubt the Qualcomm Incorporated Executive Officer Severance Plan), except as required by applicable law or as otherwise specifically provided therein in a specific reference to this Plan. 
5. Certain Reduction of Payments by the Company. 
(a) For purposes of this Section 5: (i) a “Payment” shall mean any payment or distribution in the nature of compensation to or for the benefit of a Participant, whether paid or payable pursuant to this Plan or otherwise; (ii) “Net After-Tax Receipt” shall mean the Present Value of a Payment net of all taxes imposed on the Participant with respect thereto under Sections 1 and 4999 of the Code and under applicable state and local laws, determined by applying the highest marginal rate under Section 1 of the Code and under state and local laws which applied to the Participant’s taxable income for the immediately preceding taxable year, or such other rate(s) as the Participant shall certify, in the Participant’s sole discretion, as likely to apply to the Participant in the relevant tax year(s); (iii) “Present Value” shall mean such value determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the Code; and (iv) “Reduced Amount” shall mean the amount of Payments that (A) has a Present Value that is less than the Present Value of all Payments and (B) results in aggregate Net After-Tax Receipts for all Payments that are greater than the Net After-Tax Receipts for all Payments that would result if the aggregate Present Value of Payments were any other amount that is less than the Present Value of all Payments. 
(b) Anything in the Plan or any other agreement between a Participant and the Company or any of its Subsidiaries to the contrary notwithstanding, in the event that an accounting firm expert in Section 280G of the Code is selected in the discretion of the Company prior to the first occurrence of a Change in Control, which firm shall not be a firm serving as accountant or auditor for the individual, entity or group effecting the Change in Control or, if no such firm is selected by the Company prior to such Change in Control, is selected by the Participant (the “Accounting Firm”) shall determine that receipt of all Payments would subject the Participant to tax under Section 4999 of the Code (the “Excise Tax”), the Accounting Firm shall determine whether some amount of Payments meets the definition of “Reduced Amount.” If the Accounting Firm determines that there is a Reduced Amount, then the aggregate Payments shall be reduced to such Reduced Amount. 
(c) If the Accounting Firm determines that aggregate Payments should be reduced to the Reduced Amount, the Company shall promptly give the Participant notice to that effect and a copy of the detailed calculation thereof. All determinations made by the Accounting Firm under this Section shall be binding upon the Company and the Participant and shall be made within 60 days following a termination of employment of the Participant. The reduction of the aggregate Payments to the Reduced Amount, if applicable, shall be made by reducing the Payments under the following sections in the following order: (i) Section 4(a)(v), (ii) equity or equity-based compensation awards that are not subjected to the valuation methodology set forth in Q&A 24(c) of Section 280G, and (iii) equity or equity-based compensation awards that are subjected to the valuation methodology set forth in Q&A 24(c) of Section 280G. As promptly as practicable following the Accounting Firm’s determination, the Company shall 

Exhibit 10.1

pay to or distribute for the benefit of the Participant such Payments as are then due to the Participant under this Plan and shall promptly pay to or distribute for the benefit of the Participant in the future such Payments as become due to the Participant under this Plan. 
(d) As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by the Company to or for the benefit of a Participant pursuant to this Plan which should not have been so paid or distributed (“Overpayment”) or that additional amounts which will have not been paid or distributed by the Company to or for the benefit of a Participant pursuant to this Plan could have been so paid or distributed (“Underpayment”), in each case, consistent with the calculation of the Reduced Amount hereunder. In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against either the Company or the Participant which the Accounting Firm believes has a high probability of success determines that an Overpayment has been made, any such Overpayment paid or distributed by the Company to or for the benefit of a Participant shall be repaid to the Company together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no such amount shall be payable by a Participant to the Company if and to the extent such payment would not either reduce the amount on which the Participant is subject to tax under Section 1 and Section 4999 of the Code or generate a refund of such taxes. In the event that the Accounting Firm, based upon controlling precedent or substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be promptly paid by the Company to or for the benefit of the Participant together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code (“Interest”). The Company shall cooperate with the Participant in good faith in valuing, and the Accounting Firm shall take into account the value of, services provided or to be provided by the Participant (including, without limitation, the Participant’s agreeing to refrain from performing services pursuant to a covenant not to compete or similar covenant, before, on or after the date of a change in ownership or control of the Company (within the meaning of Q&A-2(b) of the final regulations under Section 280G of the Code), such that payments in respect of such services may be considered reasonable compensation within the meaning of Q&A-9 and Q&A-40 of the final regulations under Section 280G of the Code and/or exempt from the definition of the final regulations under Section 280G of the Code in accordance with Q&A-5(a) of the final regulations under Section 280G of the Code.
(e) All fees and expenses of the Accounting Firm in implementing the provisions of this Section 5 shall be borne by the Company.
6. Full Settlement. The Company’s obligation to make the payments provided for in this Plan and otherwise to perform its obligations hereunder shall be absolute and unconditional and shall not be affected by any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company or its Subsidiaries may have against a Participant or others. In no event shall a Participant be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to such Participant under any of the provisions of this Plan and no amounts received from other employment shall serve to mitigate the payments hereunder. 

Exhibit 10.1

The Company agrees to reimburse the Participant, to the full extent permitted by law, for all legal fees and expenses that the Participant may reasonably incur as a result of any contest by the Company, the Participant or others of the validity or enforceability of, or liability under, any provision of this Plan or any guarantee of performance thereof (including as a result of any contest by the Participant about the amount of any payment pursuant to this Plan) (each, a “Contest”), plus, in each case, Interest; provided, that the Company shall not be obligated to reimburse a Participant for legal fees and expenses unless the Participant prevails on at least one material claim (regardless of by whom brought); provided, further, that the Participant shall have submitted an invoice for such fees and expenses not later than 30 days after the final resolution of such Contest and the Company shall make such payment within 30 days of the date on which the invoice is so submitted, and the Participant’s right to have the Company pay such legal fees and expenses may not be liquidated or exchanged for any other benefit.
7. Controlling Law. This Plan shall be construed and enforced according to the internal laws of the State of California to the extent not preempted by Federal law or the law of any other applicable non-United States jurisdiction, which shall otherwise control. 
8. Amendments; Termination. The Company reserves the right to amend, modify, suspend or terminate the Plan at any time by action of a majority of the Committee; provided that, notwithstanding the foregoing, no such amendment, modification, suspension or termination that has the effect of reducing or diminishing the rights of any Employee under the Plan (including without limitation by virtue of reducing an Employee’s title), shall be effective without the written consent of the Employee, during the one-year period following the date on which the action of a majority of the Committee is taken. Notwithstanding the foregoing, no amendment, modification, suspension or termination that has the effect of reducing or diminishing the rights of any Employee under the Plan (including without limitation by virtue of reducing an Employee’s title), that is made during the Potential Change in Control Period or during the Change in Control Period, shall be effective without the written consent of the Employee during the Potential Change in Control Period or during the Change in Control Period.
9. Assignment. The Company shall require any corporation, entity, individual or other person who is the successor (whether direct or indirect by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all the business and/or assets of the Company to expressly assume and agree to perform, by a written agreement, all of the obligations of the Company under this Plan. The Company shall require any corporation, entity, individual or other person who is the successor (whether direct or indirect by purchase, merger, consolidation, reorganization or otherwise) to any Subsidiary or any other portion of the business and/or assets of the Company to expressly assume and agree to perform, by a written agreement, all of the obligations of the Company under this Plan with respect to any Participants employed by such Subsidiary or whose employment is transferred to such successor of such business and/or assets. As used in this Plan, the term “Company” shall mean the Company as hereinbefore defined and any successor to any of its Subsidiaries, its business and/or assets as aforesaid which assumes and agrees to perform this Plan by operation of law, written agreement or otherwise. It is a condition of this Plan, and all rights of each person eligible to receive benefits under this Plan shall be subject hereto, that no right or interest of any such person in this Plan shall be assignable 

Exhibit 10.1

or transferable in whole or in part, except by operation of law, including, but not by way of limitation, lawful execution, levy, garnishment, attachment, pledge, bankruptcy, alimony, child support or qualified domestic relations order. 
10. Withholding. The Company, any Subsidiary or other person paying any amount or providing any benefit pursuant to this Plan may withhold from any amount payable or benefit provided under this Plan such Federal, state, local, foreign and other taxes as are required to be withheld pursuant to any applicable law or regulation. 
11. Genders and Plurals. Wherever used in this Plan document, words in the masculine gender shall include masculine or feminine gender, and, unless the context otherwise requires, words in the singular shall include the plural, and words in the plural shall include the singular. 
12. Plan Controls. In the event of any inconsistency between this Plan document and any other communication regarding this Plan, this Plan document controls. 
13. Administration. This Plan shall be administered by the Committee, provided that the Committee shall not have discretionary authority in the administration of the Plan, and any court or tribunal that adjudicates any dispute, controversy or claim arising under, in connection with or related to the Plan will apply a de novo standard of review to any determinations made by the Committee. Such de novo standard shall apply notwithstanding the administrative authority granted hereunder to the Committee or characterization of any decision by the Committee as final, binding, or conclusive on any party.
14. Benefits Claims and Appeals. The Plan is not intended to be subject to ERISA. If and only if, however, the Plan is determined to be subject to ERISA, the intention of the Company is that it shall be construed as a “welfare plan,” as defined in Section 3(1) of ERISA, and this Section 14 shall apply. The Committee shall establish a claims and appeals procedure applicable to Participants under the Plan. Unless otherwise required by applicable law, such procedures will provide that a Participant has not less than sixty (60) days following receipt of any adverse benefit determination within which to appeal the determination in writing with the Committee, and that the Committee must respond in writing within sixty (60) days of receiving the appeal, specifically identifying those Plan provisions on which the benefit denial was based and indicating what, if any, information the Participant must supply in order to perfect a claim for benefits. Notwithstanding the foregoing, the claims and appeals procedure established by the Committee will be provided for the use and benefit of Participants who may choose to avail themselves of such procedures, but compliance with the provisions of these claims and appeals procedures by the Participant will not be mandatory for any Participant claiming benefits after a Change in Control. It will not be necessary for any Participant to exhaust these procedures and remedies after a Change in Control prior to bringing any legal claim or action, or asserting any other demand, for payments or other benefits to which such Participant claims entitlement.
15. Indemnification. To the extent permitted by law, the Company shall indemnify the Committee from all claims for liability, loss, or damage (including the advancement of expenses in connection with defense against such claims) arising from any act or failure to act in connection with the Plan. 

Exhibit 10.1

16. Section 409A. It is intended that the provisions of this Plan comply with Section 409A, and all provisions of this Agreement shall be construed and interpreted in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A. If, at the time of a Participant’s separation from service (within the meaning of Section 409A), (i) Participant shall be a specified employee (within the meaning of Section 409A and using the identification methodology selected by the Company from time to time) and (ii) the Company shall make a good faith determination that an amount payable under the Plan constitutes deferred compensation (within the meaning of Section 409A) the payment of which is required to be delayed pursuant to the six-month delay rule set forth in Section 409A in order to avoid taxes or penalties under Section 409A, then the Company (or its Affiliate, as applicable) shall not pay such amount on the otherwise scheduled payment date but shall instead accumulate such amount and pay it on the first business day after such six-month period. To the extent required in order to avoid accelerated taxation and/or tax penalties under Section 409A, the Participant shall not be considered to have terminated employment with the Company or any of its Subsidiaries for purposes of this Plan and no payment shall be due to the Participant under this Agreement until the Participant would be considered to have incurred a “separation from service” from the Company or any of its Subsidiaries within the meaning of Section 409A. For purposes of Section 409A, each payment hereunder will be deemed to be a separate payment as permitted under Treasury Regulation Section 1.409A-2(b)(2)(iii). Except as specifically permitted by Section 409A, any benefits and reimbursements provided to the Participant under this Plan during any calendar year shall not affect any benefits and reimbursements to be provided to the Participant under this Plan in any other calendar year, and the right to such benefits and reimbursements cannot be liquidated or exchanged for any other benefit. Furthermore, reimbursement payments shall be made to the Participant as soon as practicable following the date that the applicable expense is incurred, but in no event later than the last day of the calendar year following the calendar year in which the underlying expense is incurred. In no event shall the time of a Participant’s execution and non-revocation of the Release, directly or indirectly, result in the Participant designating the calendar year of payment, and if a payment that is subject to execution and non-revocation of the Release could be made in more than one taxable year, payment shall be made in the later taxable year. Notwithstanding any provision of this Plan to the contrary, to the extent necessary to satisfy Section 105(h) of the Code, the Company will be permitted to alter the manner in which medical reimbursement benefits are provided to the Participant following termination of the Participant’s employment, provided that the after-tax cost to the Participant of such benefits shall not be greater than the cost applicable to similarly situated executives of the Company who have not terminated employment.
17. Employment Status. This Plan does not constitute a contract of employment or impose on the Participant or the Company or any of its Subsidiaries any obligation to retain the Participant as an Employee, to change the status of the Participant’s employment, or to change the Company’s policies or those of its Affiliates’ regarding termination of employment. 
18. Foreign Laws. The Committee shall administer the Plan with respect to all Non-US Participants in a manner designed to comply with applicable law while preserving the benefits provided under the Plan and avoiding duplication of benefits.

Exhibit 10.1

19. Notices. Notices and all other communications provided for under the Plan shall be in writing and shall be deemed to have been duly given when personally delivered or when mailed by United States certified mail, return receipt requested, or by overnight courier, postage prepaid, to the Company’s corporate headquarters address, to the attention of the Committee, or to the Participant at the home address most recently communicated by the Participant to the Company in writing.

Exhibit 10.1

EXHIBIT A
GENERAL RELEASE

1.    In consideration of the payments and benefits to which [ ] ( “Executive”) is entitled under the The Qualcomm Incorporated Executive Officer Change in Control Severance Plan (the “Plan”), Executive for himself, his heirs, administrators, representatives, executors, successors and assigns (collectively, “Releasors”) does hereby irrevocably and unconditionally release, acquit and forever discharge the Company and its subsidiaries, affiliates and divisions (the “Affiliated Entities”) and their respective predecessors and successors and their respective, current and former, trustees, officers, directors, partners, shareholders, agents, employees, consultants, independent contractors and representatives, including without limitation all persons acting by, through, under or in concert with any of them (collectively, “Releasees”), and each of them from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, remedies, actions, causes of action, suits, rights, demands, costs, losses, debts and expenses (including attorneys’ fees and costs) of any nature whatsoever, known or unknown, whether in law or equity and whether arising under federal, state or local law and in particular including any claim for discrimination based upon race, color, ethnicity, sex, age (including the Age Discrimination in Employment Act of 1967), national origin, religion, disability, or any other unlawful criterion or circumstance, relating to Executive’s employment or termination thereof, which Executive and Releasors had, now have, or may have in the future against each or any of the Releasees from the beginning of the world until the date hereof (the “Execution Date”).
2.    Executive acknowledges that: (i) this entire General Release is written in a manner calculated to be understood by him; (ii) he has been advised to consult with an attorney before executing this General Release; (iii) he was given a period of [forty-five][twenty-one] days within which to consider this General Release; and (iv) to the extent he executes this General Release before the expiration of the [forty-five][twenty one]-day period, he does so knowingly and voluntarily and only after consulting his attorney. Executive shall have the right to cancel and revoke this General Release during a period of seven days following the Execution Date, and this General Release shall not become effective, and no money shall be paid hereunder, until the day after the expiration of such seven-day period. The seven-day period of revocation shall commence upon the Execution Date. In order to revoke this General Release, Executive shall deliver to the Company, prior to the expiration of said seven-day period, a written notice of revocation. Upon such revocation, this General Release shall be null and void and of no further force or effect.
3.    Notwithstanding anything else herein to the contrary, this General Release shall not affect: (i) the obligations of the Company under the Plan or other obligations that, in each case, by their terms, are to be performed after the date hereof (including, without limitation, obligations to Executive under any equity compensation awards or agreements or obligations 

Exhibit 10.1

under any pension plan or other benefit or deferred compensation plan, all of which shall remain in effect in accordance with their terms); (ii) obligations to indemnify Executive (including advancement of expenses) respecting acts or omissions in connection with Executive’s service as a director, officer or employee of the Affiliated Entities; (iii) obligations with respect to insurance coverage under any of the Affiliated Entities’ (or any of their respective successors) directors’ and officers’ liability insurance policies; (iv) any right Executive may have to obtain contribution in the event of the entry of judgment against Executive as a result of any act or failure to act for which both Executive and any of the Affiliated Entities are jointly responsible; (v) Executive’s right to file a charge, including a challenge to the validity of this Release, with the Equal Employment Opportunity Commission (“EEOC”), a comparable state or municipal fair employment agency or the National Labor Relations Board (“NLRB”); (vi) Executive’s right to participate in any investigation or proceeding conducted by the EEOC or such state or municipal agency or the NLRB; or (vii) Executive’s right to enforce this Agreement.
4.    This General Release shall be construed, enforced and interpreted in accordance with and governed by the laws of the State of California, without reference to its principles of conflict of laws.
5.    Executive represents and warrants that he is not aware of any claim by him other than the claims that are released by this General Release. Executive further acknowledges that he may hereafter discover claims or facts in addition to or different than those which he now knows or believes to exist with respect to the subject matter of this General Release and which, if known or suspected at the time of entering into this General Release, may have materially affected this General Release and Executive’s decision to enter into it. Nevertheless, Executive hereby waives any right, claim or cause of action that might arise as a result of such different or additional claims or facts and Executive hereby expressly waives any and all rights and benefits confirmed upon him by the provisions of California Civil Code Section 1542, which provides as follows:
6.    “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.”
7.    Being aware of such provisions of law, Executive agrees to expressly waive any rights he may have thereunder, as well as under any other statute or common law principles of similar effect in any other jurisdiction determined by a court of competent jurisdiction to apply.
8.    It is the intention of the parties hereto that the provisions of this General Release shall be enforced to the fullest extent permissible under all applicable laws and public policies, but that the unenforceability or the modification to conform with such laws or public policies of any provision hereof shall not render unenforceable or impair the remainder of the General Release. Accordingly, if any provision shall be determined to be invalid or unenforceable either in whole or in part, this General Release shall be deemed amended to delete or modify as necessary the invalid or unenforceable provisions to alter the balance of this General Release in order to render the same valid and enforceable.

Exhibit 10.1

9.    As of the date hereof, Executive has, or agrees to promptly, return all Company property in his possession. 
10.    This General Release may not be orally canceled, changed, modified or amended, and no cancellation, change, modification or amendment shall be effective or binding, unless in writing and signed by both parties to the General Release.
11.    Capitalized terms used but not defined herein shall have the meaning set forth in the Plan.

Exhibit 10.1

IN WITNESS WHEREOF, the undersigned parties have executed this General Release.
[THE COMPANY]
By:______________________________
[name]
[title]

EXECUTIVE
Voluntarily Agreed to and Accepted this
___ day of ________________20__
_________________________________

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