Document:

Third Amendment to Lease

 Exhibit 10.14 
 THIRD AMENDMENT TO LEASE 
 THIS THIRD AMENDMENT TO LEASE (the
“Amendment”) is made and entered into as of August 6, 2010, by and between THE IRVINE COMPANY LLC, a Delaware limited liability company (“Landlord”) and PEREGRINE SEMICONDUCTOR, a Delaware corporation
(“Tenant”). 
 RECITALS 
  

	A.	Landlord (formerly known as The Irvine Company, a Delaware corporation) and Tenant (as successor in interest to Continuous Computing Corporation, a Delaware
corporation) are parties to that certain lease dated April 20, 2000, which lease has been previously amended by First Amendment to Lease dated August 23, 2005, Consent to Assignment and Amendment to Lease dated March 19, 2007 and
Second Amendment to Lease dated June 22, 2007 (collectively, the “Lease”). Pursuant to the Lease, Landlord has leased to Tenant space currently containing approximately 48,146 rentable square feet (the “Original
Premises”) described as the building located at 9380 Carroll Park Drive, San Diego, California (the “Building”). 

  

	B.	 Tenant has requested that additional space containing approximately 23,209 rentable square feet described as Suite No. 100 on the 1st floor of the building located at 9369 Carroll Park Drive, San Diego,
California (the “9369 Building”) shown on Exhibit A hereto (the “Expansion Space”) be added to the Original Premises and that the Lease be appropriately amended and Landlord is willing to do the same on the following terms
and conditions. 

  

	C.	The Lease by its terms shall expire on July 31, 2012 (“Second Prior Expiration Date”), and the parties desire to extend the Term of the Lease, all on the
following terms and conditions. 

 NOW, THEREFORE, in consideration of the above recitals which by this
reference are incorporated herein, the mutual covenants and conditions contained herein and other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows: 

 

	I.	Expansion and Effective Date. 

  

	 	A.	The Term for the Expansion Space shall commence (“Expansion Effective Date”) on the earlier of (a) January 1, 2011, or (b) the date Tenant
commences its business activities within the Expansion Space, and shall expire upon the Second Extended Expiration Date (defined below) of December 31, 2015. Promptly following request by Landlord, the parties shall memorialize on a form
provided by Landlord (the “Expansion Effective Date Memorandum”) the actual Expansion Effective Date; should Tenant fail to execute and return the Expansion Effective Date Memorandum to Landlord within five (5) business days (or
provide specific written objections thereto within that period), then Landlord’s determination of the Expansion Effective Date as set forth in the Expansion Effective Date Memorandum shall be conclusive. Effective as of the Expansion Effective
Date, the Premises, as defined in the Lease, shall be increased from 48,146 rentable square feet to 71,355 rentable square feet by the addition of the Expansion Space. 

 

	 	B.	Delay in Possession. If Landlord, for any reason whatsoever, cannot deliver possession of Expansion Space to Tenant on or before the Expansion Effective Date set
forth in Section I.A above, this Amendment shall not be void or voidable nor shall Landlord be liable to Tenant for any resulting loss or damage. 

  

	 	C.	Following the full execution of this Amendment, payment of all deposits due hereunder and delivery of proper evidence of insurance pursuant to the Lease, Landlord shall
permit Tenant and its agents to enter the Expansion Space prior to the Expansion Effective Date in order that Tenant may perform any work to be performed by Tenant hereunder through its own contractors, subject to Landlord’s prior written
approval, and otherwise in accordance with the requirements of the Lease. The foregoing license to enter the Expansion Space prior to the Expansion Effective Date is however, conditioned upon the compliance by Tenant’s contractors with all
requirements imposed by Landlord on third party contractors, including without limitation the maintenance by Tenant and its contractors and subcontractors of workers’ compensation and public liability and property damage insurance in amounts
and with companies and on forms satisfactory to Landlord, with certificates of such insurance being furnished to Landlord prior to proceeding with any such entry. The entry shall be deemed to be under all of the provisions of the Lease except as to
the covenants to pay Rent. Landlord shall not be liable in any way for any injury, loss or damage which may occur to any such work being performed by Tenant, the same being solely at Tenant’s risk. In no event shall the failure of Tenant’s
contractors to complete any work in the Expansion Space extend the Expansion Effective Date. 

  

	II.	Extension. The Term of the Lease is hereby extended and shall expire on December 31, 2015 (“Second Extended Expiration Date”), unless
sooner terminated in accordance with the terms of the Lease. That portion of the Term commencing August 1, 2012 (“Second Extension Date”) and ending on the Second Extended Expiration Date shall be referred to herein as the
“Second Extended Term”. 

	III.	Basic Rent. 

  

	 	A.	Original Premises From and After Second Extension Date. As of August 1, 2012, the schedule of Basic Rent payable with respect to the Original Premises
during the Second Extended Term is the following: 

  

					
	Months of Term or
Period	  	 Monthly Rate Per

Square Foot
	  	Monthly Basic Rent
	8/1/12-12/31/12	  	$0.80	  	$38,517.00
	1/1/13-12/31/13	  	$0.85	  	$40,924.00
	1/1/14-12/31/14	  	$0.90	  	$43,331.00
	1/1/15-12/31/15	  	$0.95	  	$45,739.00

 

	 	    	All such Basic Rent shall be payable by Tenant in accordance with the terms of the Lease. 

 

	 	B.	Expansion Space From Expansion Effective Date Through Second Extended Expiration Date. Effective as of the Expansion Effective Date, Tenant shall pay Landlord
Basic Rent for the Expansion Space as follows: 

  

					
	Months of Term or
Period	  	 Monthly Rate Per

Square Foot
	  	Monthly Basic Rent
	1/1/11-6/30/11	  	$0.375	  	$8,703.38
	7/1/11-12/31/11	  	$0.75	  	$17,407.00
	1/1/12-12/31/12	  	$0.80	  	$18,567.00
	1/1/13-12/31/13	  	$0.85	  	$19,728.00
	1/1/14-12/31/14	  	$0.90	  	$20,888.00
	1/1/15-12/31/15	  	$0.95	  	$22,049.00

 

	 	    	All such Basic Rent shall be payable by Tenant in accordance with the terms of the Lease. 

 

	 	    	Landlord and Tenant acknowledge that the foregoing schedule is based on the assumption that the Expansion Effective Date is estimated. The schedule set forth above with
respect to the payment of any installment(s) of Basic Rent for the Expansion Space shall be appropriately adjusted on a per diem basis to reflect the actual Expansion Effective Date, and the actual Expansion Effective Date shall be set forth in the
Expansion Effective Date Memorandum. However, the effective date of any increases or decreases in the Basic Rent rate shall not be postponed as a result of an adjustment of the Expansion Effective Date as provided above. 

 

	IV.	Building Costs and Property Taxes. 

  

	 	A.	Original Premises for the Second Extended Term. Tenant shall be obligated to pay Tenant’s proportionate share of Building Costs and Property Taxes accruing
in connection with the Original Premises in accordance with the terms of the Lease through the Second Extended Term. 

  

	 	B.	Expansion Space From Expansion Effective Date Through Second Extended Expiration Date. Tenant shall be obligated to pay Tenant’s proportionate share of
Building Costs and Property Taxes accruing in connection with the Expansion Space in accordance with the terms of the Lease through the Second Extended Term. 

 

	V.	Additional Security Deposit. Concurrently with Tenant’s delivery of this Amendment, Tenant shall deliver the sum of $47,323.00 (i.e., $24,253.00,
which mathematically represents the Security Deposit applicable to the Expansion Space plus $23,070.00, which represents the additional amount required to equal 110% of the last month’s Rent for the Original Premises). Accordingly, the Security
Deposit is increased from $27,243.00 under the Lease to a total of $74,566.00. 

  

	VI.	Improvements to Expansion Space. 

  

	 	A.	Condition of Expansion Space. Tenant has inspected the Expansion Space and agrees to accept the same “as is” without any agreements, representations,
understandings or obligations on the part of Landlord to perform any alterations, repairs or improvements, except as may be expressly provided otherwise in this Amendment. 

 

	 	B.	Tenant Improvements. Landlord hereby agrees to complete the Tenant Improvements for the Expansion Space in accordance with the provisions of Exhibit B, Work
Letter, attached hereto. 

	VII.	Other Pertinent Provisions. Landlord and Tenant agree that, effective as of the date of this Amendment (unless different effective date(s) is/are
specifically referenced in this Section), the Lease shall be amended in the following additional respects: 

  

	 	A.	Parking. Notwithstanding any contrary provision in Exhibit C to the Lease, “Parking,” (i) Landlord shall continue to lease to Tenant and
Tenant shall continue to lease from Landlord 169 unreserved parking spaces for the Original Premises through the Second Extended Expiration Date and (ii) Landlord shall lease to Tenant, and Tenant shall lease from Landlord, an additional 81
unreserved parking spaces for the Expansion Space from the Expansion Effective Date through the Second Extended Expiration Date. The unreserved parking spaces referenced herein shall be at no charge through the Second Extended Expiration Date.

  

	 	B.	SDN List. Tenant hereby represents and warrants that neither Tenant nor any officer, director, employee, partner, member or other principal of Tenant
(collectively, “Tenant Parties”) is listed as a Specially Designated National and Blocked Person (“SDN”) on the list of such persons and entities issued by the U.S. Treasury Office of Foreign Assets Control (OFAC). In the event
Tenant or any Tenant Party is or becomes listed as an SDN, Tenant shall be deemed in breach of this Lease and Landlord shall have the right to terminate the Lease immediately upon written notice to Tenant. 

 

	 	C.	Crosswalk. Tenant may construct a crosswalk between the Building and the 9369 Building (“Crosswalk”), provided the design, construction, repair
and maintenance of such Crosswalk shall be at Tenant’s sole cost and expense. Tenant shall obtain all necessary approvals from the City of San Diego. The Crosswalk shall be subject to Landlord’s prior approval, including, but not limited
to, the location, design and construction times. Landlord shall not be obligated to incur any cost, expense or liability for the Crosswalk, it being understood that Article X of the Lease shall apply. If Tenant does not construct the Crosswalk on or
prior to March 31, 2011, Tenant’s rights to install the same shall expire. 

  

	 	D.	Right to Extend This Lease. Section 3.3 of the Lease shall remain in full force and effect and shall apply to both the Original Premises and the
Expansion Space. 

  

	 	E.	Letter of Credit. Within a reasonable time upon receipt of the additional security deposit set forth in Section V of this Amendment, Landlord shall
expedite in a commercially reasonable manner to return the letter of credit referenced in Section III.F of the Second Amendment to Tenant. Accordingly, Section III.F of the Second Amendment shall be deleted in its entirety and of no further force or
effect. 

  

	VIII.	GENERAL. 

  

	 	A.	Effect of Amendments. The Lease shall remain in full force and effect except to the extent that it is modified by this Amendment. 

 

	 	B.	Entire Agreement. This Amendment embodies the entire understanding between Landlord and Tenant and can be changed only by a writing signed by Landlord and
Tenant. 

  

	 	C.	Counterparts. If this Amendment is executed in counterparts, each is hereby declared to be an original; all, however, shall constitute but one and the same
amendment. In any action or proceeding, any photographic, photostatic, or other copy of this Amendment may be introduced into evidence without foundation. 

  

	 	D.	Defined Terms. All words commencing with initial capital letters in this Amendment and defined in the Lease shall have the same meaning in this Amendment as in
the Lease, unless they are otherwise defined in this Amendment. 

  

	 	E.	Authority. If Tenant is a corporation, limited liability company or partnership, or is comprised of any of them, each individual executing this Amendment for the
corporation, limited liability company or partnership represents that he or she is duly authorized to execute and deliver this Amendment on behalf of such entity and that this Amendment is binding upon such entity in accordance with its terms.

  

	 	F.	Attorneys’ Fees. The provisions of the Lease respecting payment of attorneys’ fees shall also apply to this Amendment. 

 

	 	G.	Execution of Amendment. Submission of this Amendment by Landlord is not an offer to enter into this Amendment but rather is a solicitation for such an offer by
Tenant. Landlord shall not be bound by this Amendment until Landlord has executed and delivered the same to Tenant. 

 [SIGNATURES ARE ON FOLLOWING PAGE] 

 IN WITNESS WHEREOF, Landlord and Tenant have duly executed this Amendment as of the
day and year first above written. 
  

									
	LANDLORD:	 		 	TENANT:
			
	THE IRVINE COMPANY LLC	 		 	PEREGRINE SEMICONDUCTOR CORPORATION
					
	By:	 	/s/ STEVEN M. CASE	 		 	By:	 	/s/ RONALD E. REEDY
		 	 Steven M. Case
 Executive Vice
President
 Office Properties
	 		 		 	 Ronald E. Reedy, Ph.D.
 Chief
Executive Officer

		 		 	
					
	By:	 	/s/ MICHAEL T. BENNETT	 		 	By:	 	/s/ JAY C. BISKUPSKI
		 	 Michael T. Bennett
 Senior Vice
President, Operations
	 		 		 	 Jay C. Biskupski
 Chief
Financial Officer

 EXHIBIT A 
 OUTLINE AND LOCATION OF EXPANSION SPACE 
 9369 Carroll Park Dr.

 Suite 100 

 

 

 EXHIBIT B 
 WORK LETTER 
 As used in this Work Letter, the “Premises” shall be deemed
to mean the Expansion Space, as defined in the attached Amendment. 
  

	I.	TENANT IMPROVEMENTS 

  

	    	The tenant improvement work (“Tenant Improvements”) shall consist of any work required to complete the Premises pursuant to approved plans and
specifications. Tenant shall employ its own architect and general contractor in constructing the Tenant Improvements. The general contractor shall be selected and engaged by Tenant on the basis of a competitive bid involving one general contractor
designated by Landlord and up to 2 other general contractors approved in writing by Landlord. The work shall be undertaken and prosecuted in accordance with the following requirements: 

 

	 	A.	Concurrently with sign-off by Tenant, the space plans, construction drawings and specifications for all improvements and finishes, together with any changes thereto,
shall be submitted to Landlord (with samples as required) for review and approval by Landlord and its architect for the Project. In lieu of disapproving an item, Landlord may approve same on the condition that Tenant pay to Landlord, prior to the
start of construction and in addition to all sums otherwise due hereunder, an amount equal to the cost, as reasonably estimated by Landlord, of removing and replacing the item upon the expiration or termination of the Lease. Should Landlord approve
work that would necessitate any ancillary Building modification or other expenditure by Landlord, then except to the extent of any remaining balance of the “Landlord Contribution” as described below, Tenant shall, in addition to its other
obligations herein, promptly fund the cost thereof to Landlord. 

  

	 	B.	All construction drawings prepared by Tenant’s architect shall follow Landlord’s CAD standards, which standards shall be provided to Tenant or its architect
upon request. 

  

	 	C.	Landlord shall, subject to the foregoing, approve or disapprove any submittal of plans or specifications by Tenant within 5 business days following receipt thereof by
Landlord. 

  

	 	D.	Tenant shall use the electrical, mechanical, plumbing and fire/life safety engineers and subcontractors designated by Landlord. All other subcontractors shall be
subject to Landlord’s reasonable approval, and Landlord may require that one or more designated subtrades be union contractors. 

  

	 	E.	Tenant shall deliver to Landlord a copy of the final application for permit and issued permit for the construction work. 

 

	 	F.	Tenant’s general contractor and each of its subcontractors shall comply with Landlord’s requirements as generally imposed on third party contractors,
including without limitation all insurance coverage requirements and the obligation to furnish appropriate certificates of insurance to Landlord prior to commencement of construction. 

 

	 	G.	A construction schedule shall be provided to Landlord prior to commencement of the construction work, and weekly updates shall be supplied during the progress of the
work. 

  

	 	H.	Tenant shall give Landlord 10 days prior written notice of the commencement of construction so that Landlord may cause an appropriate notice of non-responsibility to be
posted. 

  

	 	I.	Tenant and its general contractor shall attend weekly job meetings with Landlord’s construction manager for the Project. 

 

	 	J.	Upon completion of the work, Tenant shall cause to be provided to Landlord (i) as-built drawings of the Premises signed by Tenant’s architect, (ii) CAD
files of the improved space compatible with Landlord’s CAD standards, (iii) a final punchlist signed by Tenant, (iv) final and unconditional lien waivers from all contractors and subcontractors, (v) a duly recorded Notice of
Completion of the improvement work, and (vi) a certificate of occupancy for the Premises (collectively, the “Close-out Package”). Should Tenant fail to provide complete CAD files compatible with Landlord’s standards as
required herein, Landlord may cause its architect to prepare same and the cost thereof shall be reimbursed to Landlord by Tenant within ten (10) days of invoice therefor. 

 

	 	K.	The work shall be prosecuted at all times in accordance with all state, federal and local laws, regulations and ordinances, including without limitation all OSHA and
other safety laws. 

	 	L.	All of the provisions of the Lease shall apply to any activity of Tenant, its agents and contractors, in the Premises prior to the Expansion Effective Date, except for
the obligation of Tenant to pay rent. 

  

	 	    	Landlord shall not be liable in any way for any injury, loss or damage which may occur to any work performed by Tenant, nor shall Landlord be responsible for repairing
any defective condition therein. In no event shall Tenant’s failure to complete the Tenant Improvements extend the Expansion Effective Date. 

  

	II.	COST OF THE WORK 

  

	 	A.	Landlord shall provide to Tenant a tenant improvement allowance in the amount of $348,135.00 (the “Landlord Contribution”), with any excess cost to be
borne solely by Tenant. The Landlord Contribution shall also be utilized to fund space planning and other architectural costs (including the reasonable cost charged by Landlord’s architect to review Tenant’s drawings and CAD files),
construction costs and plan check and permit fees. It is understood that Landlord shall be entitled to a supervision/administrative fee equal to 2.5% of such costs, which fee shall be paid from the Landlord Contribution. If the actual cost of
completion of the Tenant Improvements is less than the maximum amount provided for the Landlord Contribution or remains after March 31, 2011, such savings shall inure to the benefit of Landlord and Tenant shall not be entitled to any credit or
payment or to apply the savings toward additional work. Notwithstanding the foregoing, Landlord shall also provide an additional allowance equal to $120,365.00 (“Additional Contribution”) towards either the Tenant Improvements or Basic
Rent abatement commencing on August 1, 2012. If Tenant does not utilize the Additional Contribution on or prior to February 1, 2012, Landlord shall apply the Additional Contribution to Basic Rent. 

 

	 	B.	Landlord shall fund the Landlord Contribution (less deductions for the above-described supervision fee and charges of Landlord’s architect) in installments as and
when costs are incurred and a payment request therefor is submitted by Tenant. Each payment request shall include a copy of all supporting invoices, conditional progress payment lien waivers (in the form prescribed by the California Civil Code) for
labor and materials incorporated in such payment request, unconditional lien waivers (in the form prescribed by the California Civil Code) for labor and materials on the basis of which payment has previously been by Landlord, and pertinent back-up
(including copies of Tenant’s payment checks to its contractors and suppliers). Landlord shall fund the payment request within 30 days following receipt of the application and supporting materials; provided that a 10% retention shall be held on
payments to Tenant until Landlord receives the complete Close-out Package. The remaining balance of the Landlord Contribution shall be funded when Landlord receives the complete Close-out Package. Prior to any payment by Landlord hereunder, Tenant
shall provide to Landlord in writing the address to which such payment is to be delivered, together with a complete copy of the construction contract(s) for the Tenant Improvements.Distributor Agreement

 Exhibit 10.15 
 PEREGRINE SEMICONDUCTOR / RICHARDSON ELECTRONCS DISTRIBUTION AGREEMENT 
  

 
 This Distribution Agreement (the
“Agreement”), is effective as of 23, December 2010 (the “Effective Date”), 
  

			
	 BETWEEN:
	  	[Peregrine Semiconductor] (“Manufacturer”), a corporation organized and existing under the laws of California, USA, with offices located at 9380 Carroll Park
Drive, San Diego, CA. 92121
		
	 AND:
	  	Richardson Electronics, Ltd. (“Distributor”), a corporation organized and existing under the laws of Delaware, USA, with office located at 40W267 Keslinger
Road, PO Box 393, LaFox, IL 60147-0393

 Manufacturer and Distributor also shall be referred to collectively as the
“parties” and respectively as a “party”. 
 WHEREAS, Manufacturer is in the business of developing and
selling Products as defined in the quarterly distribution price book.; And 
 WHEREAS, Distributor is in the business of acting
as a distributor for Products; and 
 WHEREAS, Manufacturer desires to appoint Distributor as its non-exclusive distributor for
the Products in the Territory; and 
 WHEREAS, Distributor desires to become a distributor of Manufacturer’s Products in
the Territory 
  

	1	DEFINITIONS When used in this Agreement, unless the context otherwise requires, the following terms, shall have the meanings indicated below (applicable to both
the singular and plural forms of the defined terms) 

  

	 	a.	“Affiliate” shall mean any company controlled by, controlling, or under common control with Manufacturer, or any person, corporation or other
entity which owns: (i) now or hereafter, directly or indirectly 50% or more of any class of the voting stock of Manufacturer, or (ii) 50% or more of any class of the voting stock of which Manufacturer, or a party described in paragraph
(i), owns, directly or indirectly, or of which Manufacturer, or a party described in paragraph (i), is, directly or indirectly, in control. 

  

					
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	 	b.	“Agreement” shall mean the terms set out in this distribution agreement together with the exhibits attached hereto and any documents included by
reference and any subsequent amendments approved in writing by both parties. 

  

	 	c.	“Customer” end-users of the Products. 

  

	 	d.	“Effective Date” shall mean the effective date set forth above. 

 

	 	e.	“Exhibit” shall mean an exhibit attached to this Agreement 

 

	 	f.	“Product(s)” shall mean those products as defined in the quarterly distribution price book; as the same may be modified from time
to time as set forth herein to include any other products manufactured or marketed by Manufacturer during the term of this Agreement. 

  

	 	g.	“Territory” shall mean the geographical areas listed in Exhibit A, (expandable upon mutual written consent of both parties.

  

	 	h.	“Trademarks” shall mean those trademarks, service marks, and other proprietary words and symbols, which Manufacturer may designate in writing
from time to time and under which Manufacturer markets or promotes the Product. 

  

	 	i.	                 

 

	2	APPOINTMENT OF DISTRIBUTOR 

Subject to the terms of this Agreement Manufacturer hereby appoints Distributor and Distributor accepts such appointment, as an
independent, non-exclusive Distributor of the Products and in the Territory as defined herein, expandable to other customers/territories upon mutual agreement by Distributor and Manufacturer. 

 

	3	REFERRALS 

 If
Manufacturer or any Affiliate of Manufacturer is contacted by any party inquiring about the purchase of Products in the Territory, Manufacturer may refer such party to Distributor for handling. 

 

	4	DISTRIBUTOR OBLIGATIONS  

During the term of this Agreement, Distributor agrees to use its commercially reasonable efforts commensurate with its business and in
good faith to conduct business in the accomplishment of the following: 
  

	 	4.1	Promotion of Product Distributor shall promote, market, and sell the Product to customers in the Territory. 

 

	 	4.2	Stocking Distributor shall carry such stock of the Products at each authorized location as may be necessary to meet demand for the same in the Territory.
Distributor will use commercially reasonable effort to maintain 5 turns of inventory in an annual period Distributor will provide yearly blanket orders on the top twenty run rating devices over the previous twelve (12) months of POS.

  

					
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 Product to be stocked under the sold to number as reflected on the invoice and distribution price book. All
reports listed in 4.5 will reflect this part number sold with no modifications allowed for the stocking and reporting purposes. Any part numbers changes the distributor makes to a part number will not be reflected as it pertains to the agreements in
this contract, and all associated privileges. 
  

	 	4.3	Facilities and Personnel Distributor shall provide and maintain adequate sales facilities and technical sales personnel in accordance with reasonable standards
that from time to time are established by mutual agreement 

  

	 	4.4	Reports Distributor shall submit a written report to Manufacturer, on a daily basis via EDI, containing the following information: 

 

	 	4.4.1	A sales report, which contains the names of end customers, including end customer of a contract manufacturer (when RELL IT provides this capability), quantity of all
product sold during the preceding business day, Distributor invoice number, average cost, resale value of the transactions and locations of Products sold and registrations number if registration number has been assigned, that to be included for that
line item, when RELL IT provides these capabilities. 

  

	 	4.4.2	An inventory report, which contains a listing by invoiced part number, quantity and average price of all Products in stock as of the end of the preceding calendar week.

  

	 	4.4.3	A list of open orders from DISTRIBUTOR’S customers requesting to purchase MANUFACTURER’S Products. 

 

	 	4.4.4	Manufacturer recognizes and respects the Distributor’s proprietary rights and interest in the information contained in the foregoing reports. Manufacturer agrees
these reports and the information contained therein (in whatever form submitted) are and remain the property of the Distributor. Manufacturer agrees to keep confidential the information contained in the reports in accordance with Section 18. It
is not intended that this provision should restrict Manufacturer’s use of the information for market analysis or other information processing purposes or commission or bonus payments, so long as the confidentiality of the information is
assured. 

  

	 	4.5	Distributor will maintain, during the term of this Agreement and for at least two years after termination of this Agreement, its records and accounts relating to
Distributor's performance of and compliance with its obligations, warranties, and representations under this Agreement and will permit examination thereof by authorized representatives of Manufacturer at all reasonable times.

  

					
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	5	MANUFACTURER OBLIGATIONS 

  

	 	5.1	Marketing Materials As promptly as possible after execution of the Agreement, Manufacturer shall furnish to Distributor without charge a reasonable supply of
price lists, sales literature, books, catalogs, specification sheets, promotional plans and similar printed material and shall provide Distributor with such training, technical and sales support and assistance (including sales forecasting and
planning assistance) as may be necessary, and requested by Distributor, to assist Distributor in effectively carrying out its activities under this Agreement. 

 

	 	5.2	Training Manufacturer shall coordinate with Distributor to conduct training seminars either at Manufacturer’s facilities or in the Territory as may be
necessary to assist Distributor in supporting the Product, at no charge to Distributor. 

  

	 	5.3	Other Technical Support Manufacturer shall provide Distributor with such other technical and sales assistance as may be necessary to assist Distributor in
effectively carrying out its activities under this Agreement, at no charge to Distributor. 

  

	 	5.4	Promotion Mutual agreement and prior written approval if Manufacturer or distributor wishes to issue a press release describing the relationship of the Parties
or use the name of Manufacturer or Distributor in a press release, website or any other promotional materials. 

  

	6	ORDERS / SHIPMENTS 

  

	 	6.1	Procedure Each order for Product submitted by Distributor to Manufacturer hereunder shall set forth the delivery date(s), and description and quantity of Product
to be delivered on each such date. An order will be deemed accepted by Manufacturer unless rejected in writing within five (5) business days after Manufacturer’s receipt of such order. Manufacturer shall confirm Distributor’s
requested delivery date as the shipment date or specify an alternative shipment date, Acknowledged Shipment Date. If the Acknowledged Shipment Date is more than thirty (30) days later than Distributor’s requested delivery date and the
Distributor’s requested delivery date is outside of Manufacturer’s lead-time, Distributor, at its election, may cancel the order for standard product without the payment of a penalty or charge; provided, however, that Distributor shall
receive credit for any such order to establish quantities purchased, quantity discounts and the like, where applicable, as if such order had been fulfilled Distributor shall be obligated to order minimum quantities of Product per order, as stated in
the Manufacturer’s published price list. 

  

	 	6.2	Cancellations Distributor may cancel a binding order for standard products without penalty or obligation provided that Manufacturer receives written notice from
Distributor of such cancellation at least thirty (30) days prior to the current scheduled shipment date of Products in such order. Upon mutual agreement exceptions may be made in case such a request falls within thirty (30) days of the
scheduled shipment date of the Products 

  

					
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	 	6.3	Custom Product cannot be cancelled or rescheduled without mutual consent. 

  

	 	6.4	Reschedules Distributor may reschedule any order for standard Products without penalty or obligation provided that Manufacturer receives written notice from
Distributor of such rescheduling at least thirty (30) days prior to the current scheduled shipment date. Each order line for standard product can be rescheduled one time only. Manufacturer will work with the distributor on a case by case basis
to resolve issues related to market changes and potential impact on orders placed with manufacturer. 

  

	 	6.5	Blanket orders to be reviewed quarterly but with mutual agreement request and ship dates can be adjusted to current demand versus inventory levels. Changes to blanket
orders are allowed one time per month. 

  

	 	6.6	Packing Manufacturer shall, at its expense, pack all Products in accordance with Manufacturer’s standard packing procedure, which shall be suitable to
permit shipment of the Products to the Territory; provided, however, that if Distributor requests a modification of those procedures, Manufacturer shall make the requested modification at Distributor’s expense. 

 

	 	6.7	New products If Manufacturer now or hereafter manufactures or proposes to manufacture any product targeted for customers supported by Distributor or market
segments supported by Distributor with Manufacturer’s Products, Manufacturer shall notify Distributor of that fact and of all details concerning that product. 

 

	 	6.8	Early Shipments. Distributor shall have the right to accept or reject any and all Products delivered more than ten (10) days prior to their Acknowledged
Shipment Date. If Manufacturer is notified of Distributor’s intention to reject and return any such delivery, it shall issue a Return Material Authorization within five (5) business days. The return shall be made freight collect.

  

	7	DELIVERY 

 All shipments
will be made FCA Seller’s factory per Inco-Terms 2000 and shall be made in accordance with Distributor's then current shipping instructions as set forth in a purchase. Distributor's shipping instructions are subject to change upon written
notice from Distributor. Orders issued by the Distributor will specify requested shipment dates. Manufacturer will use its commercially reasonable efforts to ship according to the Acknowledged Shipment Date. In the absence of specific instructions
from Distributor, the shipping and packaging method shall be at the discretion of Manufacturer, provided that Manufacturer shall, consistent with sound business practice, select a method of shipping and packaging which is suitable for the Product.
In the event of any error in 

  

					
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delivery by the carrier, Manufacturer shall assist Distributor in tracing the shipment and obtaining delivery of the Products. 

 

	8	STOCK ROTATION 

 Within
thirty (30) days after the end of each October and April during the term of this Agreement, All Product returns will be for credit only. At the time of any such Product return, and as a condition to such return being accepted by Manufacturer,
Distributor must place a new order for Products simultaneously with the return that (i) shall equal or exceed the dollar value of credit to be issued by Manufacturer in connection with the return and (ii) shall be for Products requested
within the 30-day period following the date of such order. Products that have been retained by Distributor in lieu of being returned to Manufacturer in accordance with the rights granted Distributor by this Section 8 or that have been in
Distributor's inventory for 19 months or longer are not eligible for return privileges. The total credit shall not exceed 10% of the net sales dollars invoiced by Manufacturer to Distributor during the six (6) month periods prior to the
end of said October and April, respectively or for such shorter period from the Effective Date until such date. The credit to be issued in respect of Products so returned shall be the actual net invoice price charged for same by Manufacturer to
Distributor, less any prior credits granted by Manufacturer to Distributor for the said Product. All Products returned in accordance with this provision must be unused and in factory-shipped condition. Products to be returned FCA, distributor’s
facility. 
  

	9	PRODUCT CHANGES 

  

	 	9.1	End of life Manufacturer may, at its sole discretion, declare any Product to be obsolete, or discontinue the manufacturer and/or sale of any Product
(“Product Deletion”). In the event of any such Product Deletion, Manufacturer shall give, where available, Distributor at least (180) days advance written notice thereof. Distributor may, in its sole discretion, within ninety
(90) days after receipt of such notice, notify Manufacturer in writing of Distributor’s intention to return any or all Products in its inventory affected by such Product Deletion. No product to be returned without an approved RMA.
Manufacturer shall, within thirty (30) days after receiving Product so returned, issue to Distributor full credit for all such Product. Any such credit shall be in the amount of the actual net invoice price paid by Distributor, adjusted for any
price protection that may have taken place, for the affected Products less any prior credits. Products so returned shall be shipped FCA, distributor’s facility. 

 

	 	9.2	Last time buy Distributor shall have 90 days after notification from Manufacturer of Product Deletion, to place its Last Time Buy order for Product listed under
such notice. Last Time Buy orders submitted by Distributor pursuant to this section must be scheduled for delivery within twelve (12) months after the date of notification of Product Deletion of such Product. 

 

	 	9.3	 Modification of products or processes. Manufacturer shall give Distributor ninety (90) days written notice, where available, of all
engineering modifications, product changes or process changes that will or could affect Products in Distributor’s inventory if such changes materially affect form, fit, or function of any Products. Distributor agrees to promptly provide and
pass on to its customers such product, process or engineering change notices that would affect Products which it sells or 

  

					
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offers to sale. If these modifications preclude or materially limit Distributor’s inventory from being sold once the engineering, product or process modifications are implemented,
Manufacturer and Distributor shall cooperate to move the affected inventory through resale or repurchase. If after the above efforts, affected Products still remain in Distributor’s inventory, Manufacturer agrees to replace such inventory with
an equivalent value of upgraded Products that are not negatively impacted or precluded from being sold by Distributor because of the aforementioned engineering modifications or process or product changes. Manufacturer shall pay all freight and
shipping charges in connection with any such returns or replacements per FCA incoterms. 

  

	10	PRICING 

  

	 	10.1	Purchase price Manufacturer shall sell Products to Distributor at the prices listed in Manufacturer’s Channel Price List, attached hereto as Exhibit B,
which is in effect at the time an order is received by Manufacturer from Distributor. Manufacturer shall provide at least thirty (30) days notice to Distributor prior to the effective date of any price change in Manufacturer’s Distributor
Price List. 

  

	 	10.2	Price decrease In the event of a price decrease, all orders in transit or shipped as of the effective date of the price decrease shall be billed at the lower
price and Manufacturer shall credit Distributor in an amount equal to the price decrease multiplied by the quantity of the effected Products in Distributor’s inventory at the time of the decrease. Distributor shall have thirty (30) days
after the effective date of the price decrease to submit its claim for price credit and to provide Manufacturer with such inventory reports for the issuance of the same. Manufacturer, within thirty (30) days after receiving such claim shall
verify its accuracy, and upon such verification, shall issue an appropriate credit to the Distributor's account No such credit will be due Distributor if Distributor fails to furnish such inventory reports within said time. 

 

	 	10.3	Price increase Distributor shall have the right, in its sole discretion and without liability of any kind, to cancel any existing order, for such Product prior
to the effective price increase, but within the 7 days after the change. Distributor then to share current backlog with Company to protect previous pricing. All inventory and orders outside the backlog will be increased in accordance to the price
increase where Distributor has not cancelled existing orders. 

 Meet Comp Pricing: From time to time Manufacturer may
authorize special pricing below the published pricing in the Channel Price List to win business. This special pricing will be administered through a ship and debit program where the Manufacturer will authorize Distributor the right to claim a credit
against a shipment made to a specific customer on a specific Product during a specified period. The ship and debit number will be reported on the POS report and coincide with the end customer, price, resale and quantity. Any resale that is greater
than 2% of resale reported on quote and subsequent ship and debit will result in the denial of that claim and the ship and debit will be cancelled. An exchange rate change will be accepted for amounts that exceed the 2% requirement if proof is
provided prior to submittal of claim and/or noted on the original purchase order. Once Manufacturer evaluates the claim and validates all the terms of the ship and debit agreement have been met then a credit will be issued to Distributor. If all the
terms of the agreement have not been met a credit will not be issued. No credits will be issued for shipments made prior to Manufacturer authorizing a ship 

  

					
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and debit contract. No credits will be issued for claims requested beyond 14 days after invoice date Credits to Distributor will be issued in line with claim resolution above 

 

	11	PAYMENT 

  

	 	11.1	Terms 

 MANUFACTURER shall
invoice DISTRIBUTOR upon shipment of each order. Each invoice shall be due and payable by DISTRIBUTOR forty (40) days from the date of the invoice. 
  

	 	11.2	Late payment 

 In addition
DISTRIBUTOR agrees to pay all MANUFACTURER’S reasonable costs, service charges, and expenses (including fees and disbursements of counsel) incurred in connection with collection and other enforcement proceedings resulting therefrom or in
connection therewith. 
  

	12	TRADEMARKS 

 Manufacturer
hereby grants Distributor a non-exclusive, non-transferable, limited and revocable license to use the Trademarks. Distributor will only use the Trademarks in connection with the advertising, promotion and distribution of the Product in the Territory
and in accordance with Manufacturer standards, specifications and instructions provided to Distributor from time to time. Distributor will have no rights in the Trademarks except this limited right to use, and all of Distributor’s use of the
Trademarks will accrue to the benefit of Manufacturer. Distributor agrees that upon the expiration or termination of this Agreement for any reason, it will cease all use of the Trademarks, and destroy or return to Manufacturer all materials bearing
any of the Trademarks. Manufacturer and Distributor authorize each other to utilize the World Wide Web in the advertising and promotion of products and authorize each other to hyperlink their respective websites. 

 

	13	ADVERTISING ASSISTANCE 

Distributor shall devise and implement necessary action plans for promotion and marketing of the Products within the Territory.
Manufacturer shall from time to time cooperate with Distributor in carrying out Distributor's promotional programs and marketing strategies. 

  

					
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	14	TERM 

 The term of this
Agreement shall be for one (1)year (initial term) commencing on the Effective Date hereof and shall automatically be renewed thereafter for an additional one (1) year period on each anniversary of the Effective Date hereof unless terminated by
written notice at least 60 days days prior to each consecutive anniversary date hereof. 
  

	15	TERMINATION 

  

	 	15.1	Without cause Subsequent to the “Initial Term” this Agreement may be terminated at any time without cause by either party upon sixty (60) days
prior written notice to the other party. 

  

	 	15.2	With cause 

  

	 	15.2.1	In the event of any breach or default by the other party in any of the terms or conditions of this Agreement, and if such breach is not remedied within 30 days from the
date of notification to their satisfaction thereof, the non-defaulting party may immediately terminate this Agreement by giving written notice to the other party (termination for cause). 

15.2.2 Any breach of payment requires remedy within 10 days. In case of legitimate dispute this 10 days will start from the date of
mutual agreement of the balance owing, with time being of the essence in any requested responses by both parties. 
  

	 	15.2.3	Either Party may terminate this Agreement if a Bankruptcy Event occurs with respect to the other Party. “Bankruptcy Event” means any of the following events
or circumstances with respect to a Party, such Party: (i) makes a general assignment for the benefit of its creditors; (ii) petitions, applies for, or suffers or permits with or without its consent the appointment of a custodian, receiver,
trustee in bankruptcy or similar officer for all or any substantial part of its business or assets; or (iii) avails itself or becomes subject to any proceeding under the U.S. Bankruptcy Code which proceeding is not dismissed within thirty
(30) days of commencement thereof (termination for cause). 

  

	 	15.3	Effects  

  

	 	15.3.3	 In the event this Agreement is terminated by Manufacturer, without cause, Manufacturer shall, at Distributor’s election, repurchase from
distributor any and all unsold Products from its inventory at the price paid by Distributor, less any prior credits granted by Manufacturer on such products. Manufacturer shall pay all freight and shipping charges in connection with such repurchase.
Manufacturer shall be required to repurchase only those Products that are in good merchantable condition (and in manufacturer’s original packaging).If Manufacturer terminates with cause, they have no obligation to repurchase any inventory but
can do so at their discretion. Distributor has the right to resell any remaining inventory not purchased by manufacturer. In the event this Agreement is terminated by Distributor, with cause, Manufacturer shall, at Distributor’s election,
repurchase from Distributor any and all unsold Products from its inventory at the price paid by 

  

					
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Distributor, less any prior credits granted by Manufacturer on such products. Manufacturer shall pay all freight and shipping charges in connection with such repurchase. Manufacturer shall be
required to repurchase only those Products that are in good merchantable condition (and in manufacturer’s original packaging). 

  

	 	15.3.4	Promptly upon termination of this Agreement, the Distributor shall return to Manufacturer all pamphlets, catalogs, booklets, and other technical advertising data,
literature, customer proposals and other proprietary data concerning the Products in the possession of the Distributor, heretofore furnished by Manufacturer. 

 

	 	15.4	THE RIGHT OF TERMINATION, AS PROVIDED, IS ABSOLUTE. BOTH PARTIES HAVE CONSIDERED THE POSSIBILITY OF EXPENDITURES NECESSARY IN PREPARING FOR PERFORMANCE OF THIS
AGREEMENT AND THE POSSIBLE LOSSES AND DAMAGE INCIDENT TO EACH IN THE EVENT OF TERMINATION. EACH PARTY FULLY UNDERSTANDS AND AGREES THAT THE PROCEDURES AND REMEDIES PROVIDED IN THE EVENT OF TERMINATION ARE EXCLUSIVE. EXCEPT AS EXPRESSLY PROVIDED,
NEITHER PARTY SHALL BE LIABLE IN CONTRACT, TORT OR OTHERWISE IN ANY MANNER WHATSOEVER ON ACCOUNT OF TERMINATION OF THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO, IF MANUFACTURER SELLS PRODUCTS TO ONE OR MORE CUSTOMERS THAT HAD FORMERLY BEEN PURCHASED
FROM DISTRIBUTOR. NEITHER PARTY SHALL HAVE ANY FURTHER LIABILITY TO THE OTHER FOR ANY DAMAGES, COSTS, EXPENSES, INDEMNITY, OR COMPENSATION BY REASON OF THE TERMINATION OF THIS AGREEMENT, BUT THE FOREGOING SHALL NOT EXCLUDE CLAIMS OTHERWISE PERMITTED
BY THIS AGREEMENT THAT AROSE BEFORE TERMINATION OR THIRD-PARTY CLAIMS. PROVISIONS OF THE AGREEMENT THAT BY THEIR NATURE SURVIVE, SHALL REMAIN IN FULL EFFECT. 

 

	 	15.4.3	             

  

	16	WARRANTIES AND REPRESENTATIONS 

 Manufacturer shall provide the following warranty for Products to be resold by Distributor under the terms of this Agreement: 

 

	 	16.2	Product Manufacturer represents and warrants to Distributor and Distributor’s customers that the Products, for a period of one (1) year, will be free
from defects in materials and workmanship and will operate in material 

  

					
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conformance with Manufacturer’s Documentation. This warranty period begins the date Products are shipped from the Distributor to its customer. The foregoing warranty does not apply to any
Products which have been subject to misuse, including static discharge, neglect, accident or modification or which have been soldered or altered during assembly and are not capable of being tested by Manufacturer under its normal test conditions.
Manufacturer's obligation for Products failing to meet this warranty shall be to replace or repair the nonconforming Product where within the warranty period (i) Manufacturer has received written notice of any nonconformity, and (ii) after
Manufacturer's written authorization to do so, and the nonconforming Product has been returned to Manufacturer, and (iii) Manufacturer has determined that the Product is nonconforming and that such nonconformity is not a result of improper
installation, repair or other misuse by the customer. Manufacturer shall bear the cost of freight and insurance to the point of repair for returned goods to Manufacturer and for return of such goods from the point of repair to Distributor. The
warranty on any replacement Product shall be the greater of ninety (90) days from the time of shipment or the remaining term of the original warranty. 

 

	 	16.3	THIS WARRANTY IS IN LIEU OF ALL OTHER WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING THE IMPLIED WARRANTY OF FITNESS FOR A PARTICULAR PURPOSE, THE IMPLIED WARRANTY OF
MERCHANTABILITY, ANY WARRANTY OF NON-INFRINGEMENT, AND OF ALL OTHER PRODUCT WARRANTY OBLIGATIONS OR LIABILITIES ON MANUFACTURER’S PART. MANUFACTURER NEITHER ASSUMES NOR AUTHORIZES ANY OTHER PERSON TO ASSUME FOR MANUFACTURER ANY OTHER
LIABILITIES. THE FOREGOING CONSTITUTES DISTRIBUTOR'S SOLE AND EXCLUSIVE REMEDY FOR THE FURNISHING OF DEFECTIVE OR NONCONFORMING PRODUCTS. 

  

	 	16.4	EXCEPT AS SET FORTH IN THIS AGREEMENT, MANUFACTURER SHALL IN NO EVENT BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR EXEMPLARY DAMAGES
DIRECTLY OR INDIRECTLY ARISING FROM ANY PERSON'S USE OR INABILITY TO USE PRODUCTS EITHER SEPARATELY OR IN COMBINATION WITH OTHER EQUIPMENT, OR FROM ANY OTHER CAUSE, EVEN IF MANUFACTURER HAD ADVANCE NOTICE OF THE POSSIBILITY OF SUCH DAMAGES,
INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, LOSS OF USE OR COST OF LABOR BY REASON OF THE FACT THAT SUCH ARTICLES WERE DEFECTIVE OR NONCONFORMING. THIS LIMITATION SHALL NOT APPLY TO CLAIMS OF DEATH, PERSONAL INJURY, OR DAMAGE TO PROPERTY.

  

					
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	 	16.5	Company Each Party hereby represents and warrants to the other that: (a) it has the corporate power and authority and the legal right to enter into this
Agreement and to perform its obligations hereunder and has taken all necessary corporate action on its part to authorize the execution and delivery of this Agreement and the performance of its obligations hereunder; and (b) the execution and
delivery of this Agreement and the performance of such party's obligations hereunder (i) do not and will not conflict with or violate any requirement of applicable laws or regulations, and (ii) do not and will not conflict with, or
constitute a default under, any contractual obligations of it. 

  

	17	CONFIDENTIALITY 

  

	 	17.2	Definition “Confidential Information” means any proprietary information that is disclosed by one Party (“Disclosing Party”) to
the other Party (“Receiving Party”) and is designated in writing as “Confidential”, or if disclosed orally is followed by a written designation of confidentiality within thirty (30) days of disclosure, which relates
to the Disclosing Party’s business (including without limitation, business plans, financial data, Customer information, marketing plans, etc.), technology (including without limitation, technical drawings and data, designs, schematics,
algorithms, product roadmaps, research plans, software, etc.), products, services, trade secrets, know-how, show-how, formulas, processes, ideas, and inventions (whether or not patentable). 

 

	 	17.3	Confidentiality Confidential Information of a Disclosing Party shall be used by the Receiving Party solely for the purpose of performing its obligations under
this Agreement and shall not be used for any other purpose. Each Party shall hold the other Party’s Confidential Information in strictest confidence at all times in accordance with the terms of this Agreement, and shall not disclose the other
Party’s Confidential Information without the prior written consent of such other Party, which consent may be withheld at such other Party’s sole discretion. Each Party may disclose the other Party’s Confidential Information to such
Party’s employees on a need-to-know basis only. Each Party agrees to take all reasonable measures to protect the Confidential Information of the other Party from falling into the public domain or the possession of persons other than those
persons authorized to have any such Confidential Information, which measures shall include the highest degree of care that such Party utilizes to protect its own information of a similar nature, but in no event less than a reasonable degree of care.
Notwithstanding anything contained herein, the Receiving Party shall be obligated to protect confidential information in accordance with this section 20 during the term(s) of this Agreement and for three (3) years after its termination.

  

	 	17.4	Exclusions Confidential Information shall not include any information that: (i) is or falls into the public domain without fault of the Receiving Party;
(ii) the Receiving Party can show by written documentation was in its possession without any obligation of confidentiality prior to receipt thereof from the Disclosing Party; (iii) is independently developed by the Receiving Party without
the benefit of any Confidential Information of the Disclosing Party; or (iv) is obtained by the Receiving Party from a third Party without any legend or obligation of confidentiality to the Disclosing Party. 

  

					
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	 	17.5	Required Disclosure Nothing in this Agreement shall prohibit the Receiving Party from disclosing Confidential Information of the Disclosing Party if legally
required to do so by judicial or governmental order or in a judicial or governmental proceeding, provided that the Receiving Party shall (i) give the Disclosing Party prompt notice of such Required Disclosure prior to disclosure;
(ii) cooperate with the Disclosing Party, (at the Disclosing Party’s expense), in the event that it elects to contest such disclosure or seek a protective order with respect thereto, and (iii) in any event only disclose the exact
Confidential Information, or portion thereof, specifically requested. 

  

	 	17.6	Return Within ten (10) business days after receipt of Disclosing Party’s written request, Receiving Party shall return to Disclosing Party all
Confidential Information and all materials containing Confidential Information, including but not limited to documents, drawings, programs, lists, models, records, compilations, notes, extracts and summaries, whether prepared by Disclosing Party or
Receiving Party, or any of their respective Affiliates, officers, directors, employees, agents or representatives, or at the option of Disclosing Party, shall destroy such Confidential Information and materials. 

 

	18	Compliance with Laws. In connection with its marketing, sales and distribution of Manufacturer products, Distributor will
fully comply with all applicable U.S. and non-U.S. laws, including export control, economic sanctions, anti-boycott and anti-bribery laws and regulations. Failure to comply with such laws, including but not limited to the FCPA and the OECD
Convention, as defined below, may result in immediate termination of this Contract by Peregrine at its election. 

  

	 	18.2	DISTRIBUTOR will fully comply, in all material respects with all applicable U.S. and non-U.S. export control laws, including but not limited to the U.S. Export
Administration Regulations and the International Traffic in Arms Regulations, in the import, export, re-export, shipment, transfer, use, operation, maintenance, repair or disposal of Peregrine products and any related parts, components, accessories,
know-how or technical data. 

  

	 	18.3	 DISTRIBUTOR will not export, re-export, sell, or transfer any Peregrine products or any related parts, components, accessories or technology
directly or indirectly through third parties to countries sanctioned by the United States (including Cuba, Iran, North Korea, Sudan, 

  

					
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Syria) without prior written approval from Peregrine and any required authorization from the U.S. Government. 

 

	 	18.4	DISTRIBUTOR will not export, re-export, sell or transfer any Peregrine products or any related parts, components, accessories or technology directly or
indirectly through third parties to individuals or entities on the U.S. Department of Treasury’s list of Specially Designated Nationals and Blocked Persons, the U.S. Department if State’s List of Debarred Parties or on the U.S. Department
of Commerce’s Entity List, Denied Persons List or Unverified List (collectively, “Restricted Parties Lists”), unless authorized by applicable U.S. export control regulations. 

 

	 	18.5	                 

 

	 	18.6	In the performance of this Agreement, DISTRIBUTOR will adhere to and comply, in all material respects with all applicable U.S. and non-U.S. anti-bribery laws,
including the U.S. Foreign Corrupt Practices Act (“FCPA”) and the Organization for Economic Co-Operation and Development Convention on Combating Bribery of Foreign Public Officials in International Business Transactions (the “OECD
Convention”). 

  

	 	18.7	None of the principals, officers or employees of DISTRIBUTOR is a government official, an official of any public international organization, a political party
official, a candidate for political office or an officer, director, manager or employee of a state-owned enterprise or other party that is owned or controlled by a governmental ministry, department, agency or other entity. 

  

					
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	 	18.8	DISTRIBUTOR will not directly or indirectly give, offer, agree or promise to give, or authorize the giving, of any money or other thing of value to anyone as an
inducement or reward for favorable action or forbearance from action or the exercise of influence. 

  

	19	INDEMNITY 

  

	 	19.2	Manufacturer shall, at its expense, defend Distributor (hereinafter referred to as “Defendant”), against any third party claim (i) that Manufacturer
Products supplied hereunder infringes any third party patents, copyright, trade secret, or trademark, or (ii) based upon the injury, illness or death of any person, to the extent that such claims result from the negligence or willful misconduct
of Manufacturer in product design or manufacturing. Manufacturer shall pay all costs, damages and attorney’s fees that a court finally awards as a result of any such claim or any amounts included in a settlement approved by Manufacturer in
writing. To qualify for such defense and payment, Defendant must: (a) give Manufacturer prompt written notice of any such claim, and (b) allow Manufacturer to control, subject to Defendant’s right to participate, if it so elects (and
at its own expense), and fully cooperate with Manufacturer (at Manufacturer’s expense) in, the defense of such claim and all related settlement negotiations (the “Indemnity Conditions”). If a third party claim of infringement
regarding Manufacturer Products is made, Manufacturer at its option, and without limiting its indemnification obligations hereunder, may perform either of the following: (i) obtain for Defendant the right to continue to use and market the
Products, or (ii) replace them with non-infringing Products, or (iii) modify said Products so that they become non-infringing, or (iv) cancel the sale of its Products and repurchase from Defendant all Products in its inventory that
are subject to such claim, at the price paid by Distributor less any credits granted by Manufacturer on the sale of such Products. Subject to the Indemnity Conditions (applied on a reciprocal basis), Distributor shall, at its expense, defend
Manufacturer against any third party claim based upon or arising out of Distributor’s negligence or willful misconduct, breach of this Agreement, or violation of applicable law or regulation. Distributor shall pay all costs, damages and
attorney’s fees that a court finally awards as a result of any such claim or any amounts included in a settlement approved by Distributor in writing. 

  

	 	19.3	Additional Insured. Manufacturer and Distributor will at all times maintain product liability insurance in amount and form as is customary in the business, will
name Manufacturer and Distributor and its subsidiaries as additional insured thereunder and provide Manufacturer and Distributor with a certificate of insurance. This obligation shall survive termination of this Agreement. 

  

					
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	20	NON-SOLICITATION 

Distributor and Manufacturer agree to not solicit for employment any employee of the other party, and shall reject any requests for
employment made by an employee of the other party and will not hire such employee (as allowable by law). However, nothing contained herein shall be construed to limit either party’s ability to hire the other party’s employees or
independent contractors in response to a general hiring program not targeted at such individuals. The terms of this provision shall remain in effect for the length of this Agreement and shall survive the termination of the Agreement for an
additional one (1) year. This provision shall also apply to any person employed by the other party at any time within the immediately preceding one (1) year even if they are not then employed by such party unless the employee was
involuntarily terminated by such party. 
  

	21	WAIVER 

 The failure of
either party to enforce at any time or for any period of time any of the provisions hereof shall not be construed to be a waiver of such provisions or of the right of such party thereafter to enforce each and every such provision. 

 

	22	ENFOREABILITY 

 If any
term, provision, covenant, or condition of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the provisions shall remain in full force and effect, and shall in no way be affected,
impaired, or invalidated, provided that the Agreement remains substantially capable of performance without adversely affecting the rights of the Parties. 
  

	23	NOTICES 

 Any notice,
demand or other formal communication of any kind or nature which either party may be required or may desire to serve upon the other shall be sufficiently given, (i) when delivered personally, (ii) by courier service or express service, or
(ii) three (3) days after the postmark date if mailed by certified or registered mail, postage prepaid, addressed to a party at its address stated below. 
  

			
	Distributor	  	Manufacturer
		
	Richardson Electronics, Ltd.	  	Peregrine Semiconductor
		
	40W267 Keslinger Road	  	
		
	PO Box 393	  	9380 Carroll Park Drive,
		
	LaFox, IL 60147-0393	  	San Diego, CA 92121

  

	24	ENGLISH LANGUAGE 

  

					
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 This Agreement shall be made in the English language, which language shall be controlling in
all respects, and all versions hereof in any language shall not be binding upon the Parties. All communications and notices to be made pursuant to this Agreement, including all Attachments and related documentation, shall be in the English language.

  

	25	ENTIRE AGREEMENT 

 This
Agreement supersedes all prior communications or understandings between Distributor and Manufacturer and constitutes the entire agreement between the parties with respect to the matters covered herein. In the event of a conflict or inconsistency
between the terms of this Agreement and those of any order, quotation, solicitation or other communication from one party to the other, the terms of this Agreement shall be controlling. 

 

	26	COUNTERPARTS 

 This
Agreement may be signed in two counterparts each of which shall be deemed to be an original, but which together will form a single Agreement as if both parties had executed the same document. 

 

	27	AMENDMENT 

 This Agreement
cannot be changed, modified or amended unless such change, modification, or amendment is in writing and executed by the party against which the enforcement of such change, modification or amendment is sought. 

 

	28	PARAGRAPH HEADINGS 

Paragraph headings and numbers have been inserted for convenience of reference only. 

 

	29	FORCE MAJEURE 

 Neither
party shall be responsible nor liable to the other party for nonperformance or delay in performance of any terms or conditions of this Agreement due to acts of God, acts of governments, wars, riots, strikes or other labor disputes, fire, flood, or
other causes beyond the reasonable control of the nonperforming or delayed party and without the negligence of such party, provided, however, nonperformance or delay in excess of one hundred eighty (180) days shall constitute cause for
termination of this Agreement by either party. 
  

	30	GOVERNING LAW 

 This
Agreement shall be governed by and construed according to the laws of California, United States of America. 
  

	31	DISPUTE AND ARBITRATIION 

  

					
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 Any disputes concerning questions of fact or law arising from or in connection with the
interpretation, performance, non-performance or termination of this Agreement including the validity scope ,or enforceability of this Agreement to arbitrate shall be settled by mutual consultation between the parties in good faith as promptly as
possible, but if both parties fail to make an amicable settlement, such disputes shall be settled by arbitration in San Diego, California in accordance with the Commercial Arbitration Rules of the Arbitration Association of America. The award of the
arbitrators shall be final and binding upon the parties. 
  

	32	ATTORNEYS’ FEES 

 If
any legal action is brought by either of the parties to this Agreement, it is expressly agreed that the prevailing party in such legal action shall be entitled to recover from the other party reasonable attorneys’ fees in addition to any other
relief that may be awarded. 
  

	33	WITH HOLDING TAX 

 So long
as the Manufacturer’s income arising out of this Agreement, which is derived from sale of Manufacturer’s Intellectual Property and/or Software, whether embedded or as a separate unit, is not subject to withholding tax under Japanese law or
international treaties, no withholding tax shall be deducted from payment to the Manufacturer. Manufacturer shall provide to Distributor all the documents required to be filed with the competent Japanese Tax Authority in order to avoid withholding
tax being paid from time to time or to apply for a reduction of or an exemption from Japanese withholding tax in accordance with the applicable tax treaty upon signing this Agreement. (For example, where the Convention Between the Government of
Japan and the Government of the United States of America for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion With Respect To Taxes on Income is applicable, the Manufacturer shall provide to Distributor two (2) copies of
the Attachment Form for Limitation on Benefits Article and the Application Form for Income Tax Convention signed by the Manufacturer's authorized representative.) If any portion of Manufacturer's income arising out of this Agreement, is or becomes
subject to withholding tax under Japanese law or international treaties, such amounts will be deducted from payment to the Manufacturer. In such event, Distributor shall provide to Manufacturer a Tax Certificate from the competent Japanese Tax
Authority, establishing the fact that tax has been withheld by Distributor and paid to the competent Japanese Government office, so as to avoid double taxation. 
  

	34	SURVIVORSHIP 

 All
obligations and duties hereunder which by their nature extend beyond the expiration or termination of this Agreement shall survive and remain in effect beyond any expiration or termination hereof. 

 

	35	ASSIGNMENT 

 Neither party
shall have the right to assign this Agreement or any rights hereunder without the prior written consent of the other party. 
  

	36	PRECEDENCE 

  

					
	Peregrine Confidential	  	18	  	Initials: Manuf. /s/ DR Dist. /s/ GP

 In the event the terms and conditions of this Agreement are found to be in conflict with the
terms or conditions of any other document related to the subject matter contained herein, this Agreement shall control in each case, except as otherwise required by appropriate law or as mutually agreed in writing by the Parties. 

 

	37	SOLE RESPONSIBILITY 

There shall be no presumption applied against any party on the ground that such party was responsible for preparing this Agreement or any
part of it. 
  

	38	ATTACHMENTS 

 Any and all
exhibits attached hereto are hereby incorporated into and made an integral part of this Agreement by this reference. 
  

	 	  	Exhibits 

  

	 	A	Products 

  

	 	B	Territory 

  

	 	C	Price List 

 IN WITNESS
WHEREOF, the parties have caused this Agreement to be signed and accepted by their duly authorized representatives as of the day and year written below. 

 

			
	DISTRIBUTOR	  	MANUFACTURER

  

			
	By: /s/ GREG PELOQUIN	 	By: /s/ DALE ROBINETTE
		
	Name: Greg Peloquin	 	Name: Dale Robinette
		
	Title: EVP and GM – RFPD	 	Title: WW Sales Director
		
	Date: 1-3-11	 	Date: 12-22-2010

  

					
	Peregrine Confidential	  	19	  	Initials: Manuf. /s/ DR Dist. /s/ GP

 1.1 EXHIBIT A  

(i)    TERRITORY 
  

	1	Primary Territory: 

 Distributor shall
have non-exclusive distribution rights in the Territory listed below for all Products listed in Exhibit A: 
 Worldwide Coverage
excluding those countries listed in sections 18.2 and 18.3. 

  

					
	Peregrine Confidential	  	20	  	Initials: Manuf. /s/ DR Dist. /s/ GP

 PEREGRINE SEMICONDUCTOR CORPORATION 

9380 Carroll Park Drive 
 San Diego, CA 92121 
 Richardson Electronics, Ltd. 

C/O Chris Marshall 
 40W267 Keslinger Road

 PO Box 393 
 LaFox, IL 60147-0393

  

	 	Re:	Distribution Agreement, dated December 23, 2010, between Peregrine Semiconductor Corporation and Richardson Electronics, Ltd. (the “Distribution
Agreement”) 

 Dear Mr. Marshall: 
 This letter confirms the mutual understanding between Richardson Electronics, Ltd. (“Richardson”) and Peregrine Semiconductor Corporation (“Peregrine”) regarding the
exhibits referenced in the Distribution Agreement. 
 The parties agree that the only applicable exhibit attached to the
Agreement is Exhibit A, which defines the territory. Any and all references to separate exhibits for products and pricing were inadvertent. The product and pricing terms are based on Peregrine’s standard channel resale price book, which is
updated quarterly and made available to Richardson. 
 If this letter accurately sets forth our understanding with respect to
the exhibits, please sign and return this letter as your acknowledgement of the terms above. If you have any questions, please do not hesitate to call me. 

 

					
	Very truly yours,
	
	PEREGRINE SEMICONDUCTOR CORP.
		
	By:	 	 /S/ DANA CANATSY

		 	Name:	 	Dana Canatsy
		 	Title:	 	Director, Worldwide Distribution Sales

 Acknowledged
and agreed: 
 RICHARDSON ELECTRONICS, LTD. 
  

			
	Signature:	 	 /S/ CHRISTOPHER
MARSHALL

			
	Name and Title:	 	 Christopher Marshall
 VP, RF
& Wireless

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