Document:

Offer Letter - Donald Stark

 Exhibit 10.10(i) 
  

					
	

	 		  	November 17, 2008
	Don Stark	 		  	
	[Address]	 		  	

 Dear Don: 
 On behalf of Telegent Systems USA, Inc., (the “Company”), I am pleased to offer you the position of Vice President of Engineering. You will be working out of the Company’s Sunnyvale office,
under the guidance of Weijie Yun, the Company’s President and CEO. You will be primarily responsible to lead the global engineering and the product development team. 
 1. Compensation. 
 a. Base Wage. In this exempt position, you will earn a
starting salary of $16,667 per month, which is equivalent to $200,000.00 on an annualized basis, subject to applicable tax withholding. Your salary will be payable semi-monthly pursuant to the Company’s regular payroll policy. 
 b. Performance Bonus. You will be entitled to a total performance bonus of up to $50,000 for CY2009, to be awarded based on achievement
of the milestones to be determined 30 days after your start date with the company, aligned to the company goals, and as approved by the Company’s Board of Directors. Payment of your performance bonus is contingent on your being employed by the
Company for one year. 
 2. Employee Benefits. 
 a. Paid Time Off. You will be eligible to accrue up to 15 days of paid time off (PTO) per calendar year, pro-rated for the remainder of this calendar year. 
 b. Group Plans. The Company will provide you with the opportunity to participate in the standard benefits currently available to other
similarly situated employees, including medical, dental and vision plans, subject to any eligibility requirements imposed by such plans. 
 3. Equity Award. 
 a. Stock Option. In connection with the commencement of your
employment, the Company will recommend that the Board of Directors grant you a stock option (the “Option”) to purchase 500,000 shares of the Company’s Common Stock with an exercise price equal to the fair market value on the
date of the grant. The Option shares will vest at the rate of 25% of the total number of shares on the twelve (12) month anniversary of your Vesting Commencement Date (as defined in the Stock Option Agreement to be executed between you and the
Company, which date will be your Start Date, as defined below) and  1/48th of the total number of shares each month thereafter on the monthly
anniversary of the Vesting Commencement Date. Vesting will, of course, depend on your continued employment with the Company. The Option will be an incentive stock option to the maximum extent allowed by the tax code and will be subject to the

 
terms of the Company’s 2004 Share Plan (the “Plan”) and the Stock Option Agreement between you and the Company, including but not limited to a “lock-up” provision
and a right of first refusal in favor of the Company. 
 4. Pre-employment Conditions. 
 a. Confidentiality Agreement. Your acceptance of this offer and commencement of employment with the Company is contingent upon the
execution, and delivery to an officer of the Company, of the Company’s Confidential Information and Invention Assignment Agreement, a copy of which is enclosed for your review and execution (the “Confidentiality Agreement”),
prior to or on your Start Date. 
 b. Right to Work. For purposes of federal immigration law, you will be required to
provide to the Company documentary evidence of your identity and eligibility for employment in the United States. Such documentation must be provided to us within three (3) business days of your Start Date, or our employment relationship with
you may be terminated. 
 c. Verification of Information. This offer of employment is also contingent upon the successful
verification of the information you provided to the Company during your application process, as well as a general background check performed by the Company to confirm your suitability for employment. By accepting this offer of employment, you
warrant that all information provided by you is true and correct to the best of your knowledge, and you expressly release the Company from any claim or cause of action arising out of the Company’s verification of such information. 

5. No Conflicting Obligations. You understand and agree that by accepting this offer of employment, you represent to the Company that
your performance will not breach any other agreement to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the provisions of
this letter or the Company’s policies. You are not to bring with you to the Company, or use or disclose to any person associated with the Company, any confidential or proprietary or information belonging to any former employer or other person
or entity with respect to which you owe an obligation of confidentiality under any agreement or otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect the
confidentiality of proprietary information belonging to third parties. Also, we expect you to abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer and suggest that you refrain
from having any contact with such persons until such time as any non-solicitation obligation expires. 
 6. General
Obligations. As an employee, you will be expected to adhere to the Company’s standards of professionalism, loyalty, integrity, honesty, reliability and respect for all. Please note that the Company is an equal opportunity employer. The
Company does not permit, and will not tolerate, the unlawful discrimination or harassment of any employees, consultants, or related third parties on the basis of sex, race, color, religion, age, national origin or ancestry, marital status, veteran
status, mental or physical disability or medical condition, sexual orientation, pregnancy, childbirth or related medical condition, or any other status protected by applicable law. Any questions regarding this EEO statement should be directed to
Human Resource. 

 7. Employment: 
 a. At-Will Employment. Your employment with the Company will be on an “at will” basis, meaning that either you or the Company
may terminate your employment at any time for any reason or no reason, without further obligation or liability. The Company also reserves the right to modify or amend the terms of your employment at any time for any reason. This policy of at-will
employment is the entire agreement as to the duration of your employment and may only be modified in an express written agreement signed by the Chief Executive Officer of the Company. 
 b. Involuntary Termination Following a Change of Control. In no way limiting the Company’s policy of employment at-will (as
described below), if your employment is terminated by the Company without Cause (as defined below), other than as a result of your death or disability, within 12 months following a Change of Control (as defined below), (i) you will be entitled to
continuation of your base salary for a period of twelve (12) months, less all applicable deductions and withholdings, and additional vesting of twelve (12) months of your then unvested shares as of the date of termination, if the Change of Control
occurs within first 18 months of your employment; and (ii) you will be entitled to continuation of your base salary for a period of six (6) months, less all applicable deductions and withholdings, and additional vesting of six (6) months of your
then unvested shares as of the date of termination, if the Change of Control occurs after 18 months of your employment. As a condition to your receipt of such benefits, you are required to comply with your continuing obligations (including the
return of any Company property), resign from all positions you hold with the Company, and execute the Company’s standard form of release agreement releasing any claims you may have against the Company. 
 8. Definitions. 
 a.
Cause. For the purposes of this letter, “Cause” shall mean: 
  

	 	i)	your repeated failure to perform one or more of your essential duties and responsibilities to the Company; 

  

	 	ii)	gross dereliction of your duties which continues after written notice from the Company’s Board of Directors, specifying in reasonable detail the tasks which must be
accomplished and a timeline for their accomplishment to avoid termination for Cause; 

  

	 	iii)	your material violation of any Company policy; 

  

	 	iv)	your commission of any act of fraud, embezzlement, dishonesty or any other willful misconduct that has caused or is reasonably expected to result in material injury to the
Company; 

  

	 	v)	your unauthorized use or disclosure of any proprietary information or trade secrets of the Company or any other party to whom you owe an obligation of nondisclosure as a result
of your relationship with the Company; 

  

	 	vi)	your willful breach of any of your obligations under any written agreement or covenant with the Company; or you conviction of a felony. 

  

	 	vii)	  

 b. Change of Control means
the occurrence of any of the following events: 
  

	 	i)	The Closing of a sale of all or substantially all of the assets of the Company; or 

	 	ii)	The closing of a merger or consolidation of the Company with any other corporation which would result in the voting securities of the Company outstanding immediately prior
thereto failing to continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the total voting power represented by the voting securities of the
Company or such surviving entity outstanding immediately after such merger or consolidation; or 

  

	 	iii)	Completion of a tender or exchange offer or other transaction or series of transactions resulting in less than a majority of the outstanding voting shares of the surviving
corporation being held, immediately after such transaction or series of transactions, by the holders of the voting shares of the Company outstanding immediately prior to such transaction or series of transactions. 

 We are all delighted to be able to extend you this offer and look forward to working with you. To indicate your acceptance of the Company’s
offer, please sign and date this letter in the space provided below and return it to me, along with a signed and dated original copy of the Confidentiality Agreement, on or before November 24, 2008. The Company requests that you being work in this
new position on or before December 1, 2008. Please indicate the date (either on or before the aforementioned date) on which you expect to begin work in the space provided below (the “Start Date”). This letter, together with the
Confidentiality Agreement, set forth the terms of your employment with the Company and supersede any prior representations or agreements, whether written or oral. This letter will be governed by the laws of California, without regard to its conflict
of laws provisions. This letter may not be modified or amended except by a written agreement, signed by an officer of the Company. 
  

			
	Very truly yours,
	
	TELEGENT SYSTEMS USA, INC.
	
	Weijie Yun
		
	By:	 	 /s/ Weijie Yun

	Title:	 	President and CEO

 ACCEPTED AND AGREED: 
  

			
	Don Stark
	
	 /s/ Don Stark

	Signature

			
		
	Date 	 	 Nov 18, 2008

			
		
	Anticipated Start Date:	 	 December 1, 2008 (60%)

		 	Jan 1, 2008 (100%)

 Exhibit A 
 FY2009 Performance BonusAmendment to Offer Letter - Donald Stark

 Exhibit 10.10(ii) 
 December 31, 2008 
 Don Stark 
 [Address] 
  

	 	Re:	Amendment to Offer Letter 

 Dear Don: 
 You are currently employed by Telegent Systems USA, Inc. (the “Company”) pursuant to an offer letter from the Company dated November 17, 2008 (the
“Offer Letter”), a copy of which is attached hereto as Exhibit A. This letter (the “Amendment”) amends your Offer Letter to ensure full documentary compliance with applicable provisions of Section 409A (“Code
Section 409A”) of the Internal Revenue Code of 1986, as amended, and the final regulations issued thereunder. 
 The Offer Letter provides for
certain severance benefits in connection with a termination by the Company without “Cause”, which benefits are conditioned upon your execution of a release of claims agreement. This Amendment clarifies the terms of your severance benefits
in the Offer Letter as set forth below. 
 Section 7.b is revised to confirm the timing of payments and to read as follows: 
 “b. Involuntary Termination Following a Change of Control. In no way limiting the Company’s policy of
employment at-will (as described below), if your employment is terminated by the Company without Cause (as defined below), other than as a result of your death or disability, within 12 months following a Change of Control (as defined below) and such
termination constitutes a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h)) (a “Separation from Service”), (i) you will be entitled to continuation of your base salary for a period of
twelve (12) months, less all applicable deductions and withholdings, which payments shall be made in installments over the 12 month period in accordance with the Company’s standard payroll procedures and additional vesting of twelve
(12) months of your then unvested shares as of the date of termination, if the Change of Control occurs within the first 18 months of your employment, and (ii) you will be entitled to continuation of your base salary for a period of six
(6) months, less all applicable deductions and withholdings, which payments shall be made in installments over the 6-month period in accordance with the Company’s standard payroll procedures and additional vesting of six (6) months of
your then unvested shares as of the date of termination, if the Change of Control occurs after 18 months of your employment. As a condition to your receipt of such benefits, you are required to (i) comply with your continuing obligations
(including the return of any Company property), (ii) resign from all positions you hold with the Company; and (iii) sign, and allow to become effective, the Company’s standard form of release agreement releasing any claims you may
have against the Company (the “Release”) not later than fifty (50) days following your employment termination. Unless the Release is timely signed by you, delivered to the Company, and becomes effective within the required period (the
date on which the Release becomes effective, the “Release Date”), you will not receive any of the severance benefits provided for under this letter. In no event will benefits be provided to you until the Release becomes effective. Any
severance payment that otherwise would have been payable to you prior to the Release Date shall be paid in full arrears within ten (10) business days following the Release Date, but in no event later than the 15th day of the 3rd month following the later of the end of the Company’s fiscal year or the calendar year in which the applicable event
occurs” 
 A new Section 9 related to compliance with Section 409A is added to the Offer Letter in its entirety as follows: 
 “9. Code Section 409a. Notwithstanding any provision to the contrary of this letter, if you are deemed by the Company at the
time of your Separation from Service to be a “specified employee” for purposes of Code Section 409A(a)(2)(B)(i), to the extent delayed commencement of any portion of the severance benefits to which you are entitled under this letter
is required in order to avoid a prohibited distribution under Code Section 409A(a)(2)B)(i), such portion of your benefits shall not be provided to you prior to the earlier of (i) the expiration

 
of the six-month period measured from the date of your Separation from Service with the Company or (ii) the date of your death. Upon the first business day following the expiration of the
applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 9 shall be paid in a lump sum to you, and any remaining payments due under this letter shall be paid as otherwise provided herein. For purposes
of Code Section 409A (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)) your right to receive installment payments under this letter shall be treated as a right to receive a series of separate
payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment. It is intended that all of the severance benefits payable under this letter satisfy, to the greatest extent possible, the
exemptions from the application of Code Section 409A provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(5) and l.409A-1(b)(9), and this agreement will be construed to the greatest extent possible as consistent with those
provisions.” 
 Except as provided herein, the terms and conditions of your employment with the Company shall remain unchanged, and as set forth in
your Offer Letter. 
 This Amendment, including Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between
you and the Company with regard to this subject matter. It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or
representations. This Amendment may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company. This Amendment shall be deemed to have been entered into and shall be construed and enforced in
accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California. 
 If this Amendment is
acceptable to you, please sign below and return the original to me. 
  

					
	Sincerely,
	
	Telegent Systems USA, Inc.
		
	By.	 	 /s/ Geoff Ribar

		 	Officer Name	 	Geoff Ribar
		 	Title	 	CFO

					
		
	Exhibit A:	 	Offer Letter
	
	UNDERSTOOD AND AGREED TO:
	
	 /s/ Don Stark

	Don Stark
	
	 12/31/08

	Date

 EXHIBIT A 
 Offer Letter

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