Document:

exv10w19

Exhibit 10.19

EXECUTIVE EMPLOYMENT AGREEMENT

     EXECUTIVE EMPLOYMENT AGREEMENT signed the 15th day of November 2007 (the “Agreement”) by and
between MOBITEC GmbH, a German corporation with principal offices in Ettlingen, Germany and Mobitec
AB, a Swedish corporation with principal offices in Herrljunga, Sweden (collectively the “Company”)
and OLIVER WELS (the “Executive”).

     WHEREAS, Executive and Company desire to establish an Employment Agreement in which Executive
is being promoted to manage and direct the Mobitec Group1 “International” operations of
DRI-Europa AB (A Swedish corporation of Gothenburg, Sweden) and DRI Corporation (“DRI”), the parent
of DRI-Europa AB and Company, with benefits and consideration related to terms of severance and
certain other matters and in which Company is receiving additional benefits and consideration
related to non-competition and non-disclosure.

     NOW THEREFORE, in consideration of the foregoing premises and mutual covenants herein
contained, the parties hereto agree as follows:

     1. Employment. The Company agrees to employ the Executive and the Executive agrees
to serve the Company as its Managing Director of Mobitec Gmbh and Mobitec AB, as well as Chief
Operating Officer – International Operations of the Mobitec Group.

     2. Position and Responsibilities. The Executive shall exert his best efforts and
devote full time and attention to the affairs of the Company. The Executive shall have the
authority and responsibility given by the general direction, approval and control of the Chief
Executive Officer of DRI, and subject to the restrictions, limitations and guidelines set forth by
the Chief Executive Officer.

     3. Term of Employment. The term of the Executive’s employment under this Agreement
shall be deemed to have commenced on July 01, 2007 and shall continue for two years (the “Initial
Term”), subject to extension as hereinafter provided or termination pursuant to the provisions set
forth hereafter. The term of Executive’s employment shall be automatically extended for additional
one-year terms upon expiration of the Initial Term unless either party hereto receives 30 days’
prior written notice from the other electing not to extend the Executive’s employment. Any
severance provisions are governed by Section 12 hereof. Compensation during the term shall be that
set forth in Section 5 hereof, unless one of the termination provisions overrides.

     4. Duties. During the period of his employment hereunder and except for illness,
specified vacation periods and reasonable leaves of absence, the Executive shall

 

			
	1	 	Herein defined as Mobitec AB (Sweden), Mobitec Gmbh
(Germany), Mobitec Pty (Australia) and certain other affiliates, operations,
subsidiaries, or joint ventures of same as defined and agreed from time to time
with the CEO of DRI Corporation (USA).

Page #1 of 9 Pages

 

devote his best efforts and full attention and skill to the business and affairs of the Company and
DRI and its affiliated companies as such business and affairs now exist and as they may be
hereinafter be defined. Executive may not, without written permission from the Chief Executive
Officer of DRI undertake any other board appointments or assignments, or in any way perform work
for third parties or himself, direct or indirect.

     5. Compensation. The Company shall pay to the Executive as compensation for his
services the sum of €140.000 per year, payable pursuant to established Company pay policy. In
addition, the Executive shall receive such additional compensation, bonuses, stock option grants,
as may be awarded to him in the discretion of the CEO of DRI consistent with the Policy set by the
Human Resources and Compensation Committee of the DRI Board of Directors, for approval by the
Board of Directors of DRI, on the basis of the value of such Executive’s services to the Company,
which may also be embodied in a separate written Incentive Compensation Plans or Stock Option Plans
from time to time.

In the event of occurrence of a “triggering event”, which shall be defined to include:

     (i) a change in ownership in one or a series of transactions of 30% or more of
the outstanding shares of the Company; or,

     (ii) merger, consolidation, reorganization or liquidation of the Company;

and, following such triggering event, Executive’s services are terminated by the Company or
the Executive’s duties, authority, or Executive’s responsibilities are substantially
diminished, Executive shall receive lump sum compensation equal to two (2) times Executive’s annual
base compensation and incentive or bonus payments, if any, as shall have been paid to Executive
during Company’s most recent 12-month period within 30 days of the triggering event. If the total
amount of such lump sum compensation were to exceed three (3) times Executive’s base compensation
amount (defined as being the average annualized taxable compensation of Executive for the five (5)
years, or fraction thereof, preceding the year in which the triggering event occurs), Company and
Executive agree to reduce such lump sum compensation to be received by Executive in order to avoid
imposition of the golden parachute tax, as provided in the Tax Reform Act of 1984, as amended by
the Tax Return Act of 1986, if it would be applicable in this situation.

In the event Executive is required to hire counsel to negotiate on Executive’s behalf in connection
with termination or resignation from the Company upon the occurrence of a triggering event,
specifically in order to enforce the rights and obligations of the Company as provided in this
section, the Company shall reimburse to Executive all reasonable attorneys’ fees which may be
expended by Executive in seeking to enforce the terms of Agreement. Such reimbursement shall be
paid every 30 days after Executive provides copies of invoices from Executive’s counsel to Company.
Such invoices may be redacted to preserve attorney-client privilege, client confidentiality, or
work product.

Page #2 of 9 Pages

 

     6. Office and Expense Reimbursement. Executive shall be based and have primary office
in Ettlingen (at Mobitec Gmbh facilities) with additional office in Herrljunga, Sweden (at Mobitec
AB facilities). Additionally, substantial travel will be incurred by Executive. The Company will
reimburse the Executive, at least monthly, for all reasonable and necessary expenses, including
without limitation, travel expenses, and reasonable entertainment expenses, incurred by him in
carrying out his duties under this Agreement. The Executive shall present to the Company each
month an account of such expenses in such form as is reasonably required by the Company.
Additionally, Executive shall be furnished a Mercedes Benz, C270 CDI or something comparable, with
all costs to be paid by Company such vehicle for personal as well as business use.

     7. Retirement and Sickness Benefits. Executive shall be furnished retirement and
sickness benefits similar to other executives in DRI with such also being consistent with the
customary practices of Germany for executives similarly situated and further as agreed from time to
time with the CEO of DRI.

     8. Vacation (“Holiday”) Time. The Executive shall be entitled each year to a
reasonable vacation in accordance with the established practices of the Company (currently thirty
(30) days paid holiday per year), now or hereafter in effect for executive personnel similarly
situated, during which time the Executive’s compensation shall be paid in full.

     9. Obligations of Executive During and After Employment.

     (a) The Executive agrees that during the terms of his employment under this Agreement,
he will engage in no other business activities directly or indirectly, which are competitive
with or which might place him in a competing position to that of the Company, Mobitec Group
or DRI, or any affiliated company.

     (b) The Executive realizes that during the course of his employment, Executive will
have produced and/or have access to confidential business plans, information, business
opportunity records, notebooks, data, formula, specifications, trade secrets, customer
lists, account lists and secret inventions and processes of the Company and its affiliated
companies including any parent (hereinafter sometimes referred to as “Confidential
Information”). Therefore, during or subsequent to his employment by the Company, or by an
affiliated company, the Executive agrees to hold in confidence and not to directly or
indirectly disclose or use or copy or make lists of any such information, except to the
extent authorized by the Company in writing. All records, files, business plans, documents,
equipment and the like, or copies thereof, relating to Company’s business, or the business
of an affiliated company, which Executive shall prepare, or use, or come into contact with,
shall remain the sole property of the Company, or of an affiliated company, and shall not be
removed from the Company’s or the affiliated company’s premises without its written consent,
and shall be promptly returned to the Company upon termination of employment with the
Company and its affiliated companies. Company maintains a right at all

Page #3 of 9 Pages

 

times to examine all of Executive’s computer files, e-mail messages, telephone records, and
other business-related documentation. Any discovery and review of personal e-mails and
files of Executive, while unintentional, will be deleted unless pertinent to any violation
by Executive of any duties and obligations hereunder. Executive accepts the risks of
inadvertent discovery of personal items as set forth above. The restrictions and obligations
of Executive set forth in this Section 9(b) shall not apply to (i) information that is or
becomes generally available and known to the industry (other than as a result of a
disclosure directly or indirectly by Executive); or (ii) information that was known to
Executive prior to Executive’s employment by the Company or its predecessor.

     (c) Because of his employment by the Company, Executive shall have access to trade
secrets and confidential information about the Company and/or the Mobitec Group and DRI,
their business plans, their business accounts, their business opportunities, their expansion
plans into other geographical areas and lines of business and its methods of doing business.
Therefore,

     (i) If Termination is by Company and without cause: Executive agrees that for
a period of nine (9) months after the 90-day notice period for termination without
cause by the Company or expiration of his employment, he will not, directly or
indirectly, compete in the same or similar scope of employment with the Company in
its then present business or anticipated lines of business in any geographic area in
which the Company competes or has planned to do business on the effective date of
termination as set forth in its most recent Strategic Business Plan provided
Executive is paid a severance under the provisions of Section 12(b).

     (ii) If Termination is by Company and for cause: In the case of termination
for cause, Executive agrees that the non-competion period shall be twelve (12)
months following termination; however, the severance compensation shall be as
allowed under Section 74 of the German Commercial Code equal to fifty percent (50%)
of the last year’s salary (subject to mitigation) paid monthly pursuant to the
regular Company payroll; subject, however, to mitigation should Executive obtain
other permissible (noncompetitive) employment during said period by the amount
earned by the Executive during said period regardless of when paid or to be paid.

     (iii) If Termination is by Executive: In the case of Executive terminating
without cause, the non-competition period shall be for a period of nine (9) months
after the three (3) month notice/compensation period of Section 12(a), during which
period severance compensation shall be as allowed under Section 74 of the German
Commercial Code equal to fifty percent (50%) of the last year’s salary (subject to
mitigation) paid monthly pursuant to the regular Company payroll; subject, however,
to mitigation should Executive obtain other permissible (noncompetitive) employment

Page #4 of 9 Pages

 

during said period by the amount earned by the Executive during said period
regardless of when paid or to be paid.

     (iv) Further, Executive agrees that in addition to other remedies
provided herein for violation of the non-competion provisions, Company shall be
released from its obligation to pay any severance and to receive a contractual
penalty of €50,000 for each violation.

     (v) Under all cases and forms of termination: Executive agrees for the same
period that he shall in no manner solicit or contact any customer, supplier, or
organization with which the Company does business for the purpose of any act which
might be considered competition or which may be construed to be detrimental to the
business or goodwill of the Company.

     (d) With respect to Inventions made or conceived by the Executive since the time he
began work with the Company, whether or not during the hours of his employment or with the
use of the Company facilities, materials, or personnel, either solely or jointly with others
during his employment by the Company or within one year after termination of such employment
if based on or related to Confidential Information, and without royalty or any other
consideration, the following shall apply:

     (i) Inventions. “Inventions” means discoveries, concepts, and ideas,
whether patentable or not, including, but not limited to, processes, methods,
formulas, programs, and techniques, as well as improvements or know-how, concerning
any present or prospective activities of the Company with which the Executive
becomes acquainted as a result of his employment by the Company.

     (ii) Reports. The Executive shall inform the Company promptly and
fully of such Inventions by a written report, setting forth in detail the procedures
employed and the results achieved. A report will be submitted by the Executive upon
completion of any studies or research projects undertaken on the Company’s behalf,
whether or not in the Executive’s opinion a given project has resulted in an
Invention.

     (iii) Patents. The Executive shall apply, at the Company’s request
and expense, for United States and selected (as designated by the Company) foreign
letter patent either in the Executive’s name or otherwise as the Company shall
desire.

     (iv) Assignment. The Executive hereby assigns and agrees to assign to
the Company all of this rights to such Inventions, and to applications for United
States and/or foreign letters patent and to United States and/or foreign letters
patent granted upon such Inventions.

Page #5 of 9 Pages

 

     (v) Cooperation. The Executive shall acknowledge and deliver promptly
to the Company, without charge to the Company but at its expense, such written
instruments and do such other acts, such as giving testimony in support of the
Executive’s inventorship, as may be necessary in the opinion of the Company to
obtain and maintain United States and/or foreign letters patent and to vest the
entire right and title thereto in the Company.

     (vi) Use. The Company shall also have the royalty-free right to do
business, and to make, use, and sell products, processes, and/or services derived
from any inventions, discoveries, concepts, and ideas, whether or not patentable,
including, but not limited to, processes, methods, formulas, and techniques, as well
as improvements or know-how, whether or not within the scope of inventions, but
which are conceived or made by the Executive during the hours which he is employed
by the Company or with the use or assistance of the Company’s facilities, materials,
or personnel, or within the period set forth herein.

     (e) In the event an arbiter or court of competent jurisdiction finds any provision of
this Section 9 to be so exceedingly broad as to be unenforceable, then such provision shall
be reduced in scope by the court, but only to the extent deemed necessary by the court to
render the provision reasonable and enforceable, it being the Executive’s intention to
provide the Company with the broadest protection possible against harmful competition.

     10. Nonsolicitation of Employees. Executive undertakes and agrees that during the
term of this Agreement and for a period of one (1) year after this Agreement shall be terminated,
whether voluntarily or involuntarily, he will not, without the prior written approval of the
Company solicit any employees of the Company with regard to working for a competitor.

     In the event Company shall establish to the satisfaction of an arbiter or court of competent
jurisdiction the existence of a breach or threatened breach by Executive of sections 9 or 10, the
Company, in addition to any other rights and remedies it may have, shall be entitled to an
injunction restraining the Executive from doing or continuing to do any such act in violation of
this section, as well as attorney’s fees and costs of prosecution to enforce this Agreement, if the
Company ultimately prevails on the merits.

     11. Termination for Cause by the Company. The Company may, without liability,
terminate the Executive’s employment hereunder for cause at any time upon written notice specifying
such cause, and thereafter the Company’s obligations hereunder shall cease and terminate; provided,
however, that such written notice shall not be delivered until after the Company shall have given
the Executive written notice specifying the conduct alleged to have constituted such cause and the
Executive has failed to cure such conduct, if curable, within fifteen (15) days following receipt
of such notice.

     Grounds for termination “for cause” are one or more of the following:

Page #6 of 9 Pages

 

(a) A willful breach of a material duty by the Executive during the course of his
employment; or

(b) Habitual neglect of a material duty by the Executive; or

(c) Actions which place Company in a materially unfavorable public relations
position; or

(d) Action or inaction by Executive which places the Company in circumstances of
financial peril; or

(e) Fraud on the Company, conviction of a felony involving or against the Company,
or conviction of a crime of moral turpitude that affects the integrity and name of
the Company.

Executive shall resign from all positions, offices and service positions held with the Company if
terminated under this clause. Severance compensation as set forth in Section 9(c)(ii) as well as
earned but unused vacation time shall be paid.

     12. Termination by the Executive or the Company Without Cause.

     (a) The Executive, without cause, may terminate this Agreement upon 90 days prior
written notice to the Company. In such event, the Executive shall be required to render the
services required under this Agreement during such 90-day period unless otherwise directed
by the Company. Compensation for vacation time not taken by Executive shall be paid to the
Executive at the date of termination. In the event of termination under this clause, other
than vacation time payment as noted, Executive shall be paid as set forth in section
9(c)(iii); subject, however, to mitigation should Executive obtain other permissible
(noncompetitive) employment during said period by the amount earned by the Executive during
said period regardless of when paid or to be paid. Executive shall resign from all
positions, offices and service positions held with the Company if he so terminates this
Agreement.

     (b) The Company, without cause, may terminate this Agreement upon 90 days prior
written notice to the Executive. In such event, the Executive shall be required to render
the services required under this Agreement during such 90-day period unless otherwise
directed by the Company. Compensation for vacation time not taken by Executive shall be paid
to the Executive at the date of termination. Upon termination, the Company shall pay a
severance allowance after the three (3) month notice period equal to the applicable nine (9)
month non-competition period of the base salary payable at regular scheduled pay periods
over the period and all provisions of section 9(c)(i) shall apply. Salary during notice
period and severance period shall be subject to mitigation should Executive obtain other
permissible (noncompetitive) employment during the said period by the amount earned by the
Executive during the said period regardless of when paid or to be paid. Executive shall
resign from all positions, offices and
service positions held with the Company if the Company terminates this Agreement.

Page #7 of 9 Pages

 

     13. Termination upon Death of Executive. In addition to any other provision relating
to the termination, this Agreement shall terminate upon the Executive’s death. In such event, the
Company shall pay a severance allowance equal to three (3) months of the base salary without
bonuses to the Executive’s estate.

     14. Arbitration. All disputes arising in connection with this service agreement
or its validity shall be finally settled according to the arbitration rules of the German
Institution of Arbitration applying German law without recourse to the ordinary courts of law with
the following provisions applying:

	 	(a)	 	Place of arbitration shall be Karlsruhe;
	 
	 	(b)	 	Number of arbitrators shall be one; and
	 
	 	(c)	 	Language of proceeding shall be German.

     15. General Provisions.

     (a) The Executive’s rights and obligations under this Agreement shall not be
transferable by assignment or otherwise, nor shall Executive’s rights be subject to
encumbrance or to the claims of the Company’s creditors. Nothing in this Agreement shall
prevent the consolidation of the Company with, or its merger into, any other corporation, or
the sale by the Company of all or substantially all of its property or assets or assignment
via reincorporation.

     (b) This Agreement and the rights of Executive with respect to the benefits of
employment referred to herein constitute the entire Agreement between the parties hereto in
respect of the employment of the Executive by the Company and supersede any and all other
agreements either oral or in writing between the parties hereto with respect to the
employment of the Executive.

     (c) The provisions of this Agreement shall be regarded as divisible, and if any of
said provisions or any part thereof are declared invalid or unenforceable by a court of
competent jurisdiction or in an arbitration proceeding, the validity and enforceability of
the remainder of such provisions or parts thereof and the applicability thereof shall not be
affected thereby.

     (d) This Agreement may not be amended or modified except by a written instrument
executed by Company and Executive.

     (e) This Agreement and the rights and obligations hereunder shall be governed by and
construed in accordance with the laws of Germany.

Page #8 of 9 Pages

 

     16. Construction. Throughout this Agreement the singular shall include the plural,
and the plural shall include the singular, and the masculine and neuter shall include the feminine,
wherever the context so requires.

     17. Text to Control. The headings of paragraphs and sections are included solely for
convenience of reference. If any conflict between any heading and the text of this Agreement
exists, the text shall control.

     18. Authority. The officer executing this agreement on behalf of the Company has
been empowered and directed to do so by the Board of Directors of the Company.

FOR THE COMPANY:

	 	 	 	 	 
	 	 	 
	Dated: January 2, 2008 	By:  	/s/ David L. Turney
 	 
	 	Title: Chairman, CEO, and President 	 
	 	 	 	 
	 

FOR THE EXECUTIVE:

	 	 	 	 	 
	 	 	 
	Dated:  November 15, 2007 	/s/ Oliver Wels
 	    (SEAL) 
	 	Oliver Wels 	 
	 	 	 
	 

Page #9 of 9 Pagesexv10w02

Exhibit 10.02

GLU MOBILE INC.

CHANGE OF CONTROL SEVERANCE AGREEMENT

     This Change of Control Severance Agreement (the “Agreement”) is made and entered into
effective as of January 31, 2007 (the “Effective Date”), by and between Jill Braff (the “Employee”)
and Glu Mobile Inc. (the “Company”).

RECITALS

     A. It is expected that the Company from time to time will consider the possibility of a Change
of Control (as defined below). The Board of Directors of the Company (the “Board”) recognizes that
such consideration can be a distraction to the Employee and can cause the Employee to consider
alternative employment opportunities.

     B. The Board believes that it is in the best interests of the Company and its shareholders to
provide the Employee with an incentive to continue his or her employment and to maximize the value
of the Company upon a Change of Control for the benefit of its shareholders.

     C. In order to provide the Employee with enhanced financial security and sufficient
encouragement to remain with the Company notwithstanding the possibility of a Change of Control,
the Board believes that it is important to provide the Employee with certain severance benefits
upon the Employee’s termination of employment following a Change of Control.

AGREEMENT

     In consideration of the mutual covenants herein contained and the continued employment of
Employee by the Company, the parties agree as follows:

     1. Definitions. Unless otherwise defined elsewhere herein, the following terms
referred to in this Agreement shall have the following meanings:

          (a) “Cause” means (i) the Employee’s committing of an act of gross negligence, gross
misconduct or dishonesty, or other willful act, including misappropriation, embezzlement or fraud,
that materially adversely affects the Company or any of the Company’s customers, suppliers or
partners, (ii) his or her personal dishonesty, willful misconduct in the performance of services
for the Company, or breach of fiduciary duty involving personal profit, (iii) his or her being
convicted of, or pleading no contest to, any felony or misdemeanor involving fraud, breach of trust
or misappropriation or any other act that the Board reasonably believes in good faith has
materially adversely affected, or upon disclosure will materially adversely affect, the Company,
including the Company’s public reputation, (iv) any material breach of any agreement with the
Company by him or her that remains uncured for thirty (30) days after written notice by the Company
to him or her, unless that breach is incapable of cure, or any other material unauthorized use or
disclosure of the Company’s confidential information or trade secrets involving personal benefit or
(v) his or her failure to follow the lawful directions of the Board or, if he or she is not the
chief executive officer, the lawful directions of the chief executive officer, in the scope of his
or her employment unless he or she reasonably believes in good faith that these directions are not
lawful and notifies the Board or chief executive officer, as the case may be, of the reasons for
his or her belief.

          (b) “Change of Control” means the closing of (i) a merger or consolidation in one transaction
or a series of related transactions, in which the Company’s securities held by the Company’s
shareholders before the merger or consolidation represent less than fifty percent (50%) of the
outstanding

 

 

           voting equity securities of the surviving corporation after the transaction or series of
related transactions, (ii) a sale or other transfer of all or substantially all of the Company’s
assets as a going concern, in one transaction or a series of related transactions, followed by the
distribution to the Company’s shareholders of any proceeds remaining after payment of creditors or
(iii) a transfer of more than 50% of the Company’s outstanding voting equity securities by the
Company’s shareholders to one or more related persons or entities other than the Company in one
transaction or a series of related transactions:

          (c) “Code” means the United States Internal Revenue Code of 1986, as amended, and the
regulations promulgated thereunder.

          (d) “Involuntary Termination” means the Employee’s resignation of employment from the Company
expressly based on any of the following: (i) without the Employee’s express written consent, a
significant reduction in his or her duties, position or responsibilities, or his or her removal
from these duties, position and responsibilities, unless he or she is provided with a position of
substantially equal or greater organizational level, duties, authority and compensation; provided,
however, that a change of title, in and of itself, or a reduction of duties, position or
responsibilities solely by virtue of the Company’s being acquired and made part of a larger entity
will not constitute an “Involuntary Termination,” (ii) a greater than fifteen percent (15%)
reduction in his or her then-current annual base compensation that is not applicable to the
Company’s other executive officers, or (iii) without his or her express written consent, a
relocation to a facility or a location more than thirty (30) miles from his or her then-current
location of employment. For the avoidance of doubt, Involuntary Termination shall not include a
termination of employment for death or Permanent Disability. Notwithstanding the foregoing in this
subsection (d), the Company shall have thirty (30) days to cure any purported termination upon
receiving written notice from the Employee pursuant to Section 8(b) hereof.

          (e) “Permanent Disability” has the meaning set forth in Section 22(e) of the Code.

          (f) “Termination Date” shall mean the effective date of any notice of termination delivered by
one party to the other hereunder.

     2. Term of Agreement. This Agreement shall terminate upon the date that all
obligations of the parties hereto under this Agreement have been satisfied or, if earlier, on the
date, prior to a Change of Control, Employee is no longer employed by the Company.

     3. At-Will Employment. The Company and the Employee acknowledge that the Employee’s
employment is, and shall continue to be, at-will.

     4. Severance Benefits.

          (a) Termination Following a Change of Control. If the Employee’s employment with the
Company is terminated without Cause or is terminated as a result of an Involuntary Termination at
any time within twelve (12) months after a Change of Control, Employee shall, after the execution
and non-revocation (to the extent permitted by applicable law) of a release of claims in favor of
the Company (the release of which shall not include any release of claims pursuant to which the
Employee is entitled to indemnification with respect to thereof) (the “Release”), be entitled to
the following severance benefits (which shall be payable as soon as is administratively practicable
following the expiration of any revocation period applicable to the Release, and subject to the
time limitations set forth in Section 5):

               (i) six (6) months of the Employee’s then-current annual base salary, payable in a lump sum.

2

 

               (ii) Employee’s bonus actually earned, based on actual completion of the applicable
performance targets for the year, quarter or other period (as applicable) in which the Involuntary
Termination occurs, prorated for the number of days of the Employee’s service to the Company for
such year, quarter or other period (as applicable), payable in a lump sum; provided that all
individual performance objectives will be deemed fully achieved.

               (iii) in addition to the shares that are vested and exercisable in accordance with each equity
grant that was granted by the Company to the Employee prior to the Termination Date, each such
grant shall become vested and exercisable as to an additional fifty percent (50%) of the shares
originally subject to each such outstanding and not fully vested equity grant;

               (iv) Until the earlier of (i) the date Employee is no longer eligible to receive continuation
coverage pursuant to COBRA, or (ii) six (6) months from the Termination Date, the Company shall
reimburse Employee for continuation coverage pursuant to COBRA (as defined below) as was in effect
for the Employee (and any eligible dependents) on the day immediately preceding the Termination
Date; provided, however, that (i) the Employee constitutes a qualified beneficiary, as defined in
Section 4980B(g)(l) of the Code; and (ii) the Employee timely elects continuation coverage pursuant
to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”).

          (b) Termination Apart from a Change of Control. If the Employee’s employment with the
Company terminates for any reason (including a termination without Cause or due to an Involuntary
Termination) at any time following twelve (12) months after a Change of Control, then the Employee
shall not be entitled to receive any acceleration, severance or other benefits pursuant to this
Agreement, but may be eligible for those benefits (if any) as may then be established under the
Company’s then-existing severance and benefits plans and policies at the time of such termination.

          (c) Accrued Wages and Vacation; Expenses. Without regard to the reason for, or the
timing of, Employee’s termination of employment: (i) the Company shall pay the Employee any unpaid
base salary due for periods prior to the Termination Date; (ii) the Company shall pay the Employee
all of the Employee’s accrued and unused vacation through the Termination Date and (iii) following
submission of proper expense reports by the Employee, the Company shall reimburse the Employee for
all expenses reasonably and necessarily incurred by the Employee in connection with the business of
the Company prior to the Termination Date. These payments shall be made promptly and within the
period of time mandated by law.

     5. Six Month Hold-Back. To the extent (i) any payments or benefits to which Employee
becomes entitled under this Agreement, or any agreement or plan referenced herein, in connection
with Employee’s termination of employment with the Company constitute deferred compensation subject
to Section 409A of the Code and (ii) the Employee is deemed at the time of such termination of
employment to be a “specified employee” under Section 409A of the Code, then such payments shall
not be made or commence until the earliest of (A) the expiration of the six (6)-month period
measured from the date of Employee’s “separation from service” (as such term is at the time defined
in Treasury Regulations under Section 409A of the Code) from the Company; (B) the date the Employee
becomes “disabled” (as defined in Section 409A of the Code); or (C) the date of the Employee’s
death following such separation from service; provided, however, that such deferral shall only be
effected to the extent required to avoid adverse tax treatment to the Employee, including (without
limitation) the additional twenty percent (20%) tax for which the Employee would otherwise be
liable under Section 409A(a)(1)(B) of the Code in the absence of such deferral. Upon the
expiration of the applicable deferral period, any payments which would have otherwise been made
during that period (whether in a single sum or in installments) in the absence of this paragraph
shall be paid to the Employee or the Employee’s beneficiary in one lump sum (without interest).

3

 

     6. Limitation on Payments Under Code Section 280G. In the event that the severance
and other benefits provided for in this Agreement or otherwise payable to the Employee (i)
constitute “parachute payments” within the meaning of Section 280G of the Code, and (ii) would be
subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then Employee’s
benefits under this Agreement shall be either:

          (a) delivered in full; or

          (b) delivered as to such lesser extent that would result in no portion of such benefits being
subject to the Excise Tax,

     whichever of the foregoing amounts, taking into account the applicable federal, state and
local income taxes and the Excise Tax, results in the receipt by Employee on an after-tax basis, of
the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be
taxable under Section 4999 of the Code.

     Unless the Company and the Employee otherwise agree in writing, any determination required
under this Section shall be made in writing by the Company’s independent public accountants (the
“Accountants”), whose determination shall be conclusive and binding upon the Employee and the
Company for all purposes. For purposes of making the calculations required by this Section, the
Accountants may make reasonable assumptions and approximations concerning applicable taxes and may
rely on reasonable, good faith interpretations concerning the application of Section 280G and 4999
of the Code. The Company and the Employee shall furnish to the Accountants such information and
documents as the Accountants may reasonably request in order to make a determination under this
Section. The Company shall bear all costs the Accountants may reasonably incur in connection with
any calculations contemplated by this Section.

     7. Successors.

          (a) Company’s Successors. Any successor to the Company (whether direct or indirect
and whether by purchase, lease, merger, consolidation, liquidation or otherwise) to all or
substantially all of the Company’s business and/or assets shall assume the Company’s obligations
under this Agreement and agree expressly to perform the Company’s obligations under this Agreement
in the same manner and to the same extent as the Company would be required to perform such
obligations in the absence of a succession, unless otherwise agreed upon in writing by the Employee
and such successor. For all purposes under this Agreement, the term “Company” shall include any
successor to the Company’s business and/or assets.

          (b) Employee’s Successors. Without the written consent of the Company, Employee shall
not assign or transfer this Agreement or any right or obligation under this Agreement to any other
person or entity. Notwithstanding the foregoing, the terms of this Agreement and all rights of
Employee hereunder shall inure to the benefit of, and be enforceable by, Employee’s personal or
legal representatives, executors, administrators, successors, heirs, distributees, devisees and
legatees.

     8. Notices.

          (a) General. Notices and all other communications contemplated by this Agreement
shall be in writing and shall be deemed to have been duly given when personally delivered or when
mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. In the
case of the Employee, mailed notices shall be addressed to him or her at the home address which he
or she most recently communicated to the Company in writing. In the case of the Company, mailed
notices shall be

4

 

addressed to its corporate headquarters, and all notices shall be directed to the attention of
its General Counsel.

          (b) Notice of Termination. Any termination by the Company for Cause or by the
Employee as a result of a voluntary resignation or an Involuntary Termination shall be communicated
by a notice of termination to the other party hereto given in accordance with this Section. Such
notice shall indicate the specific termination provision in this Agreement relied upon, shall set
forth in reasonable detail the facts and circumstances claimed to provide a basis for termination
under the provision so indicated, and shall specify the Termination Date (which shall be not more
than thirty (30) days after the giving of such notice). The failure by the Employee to include in
the notice any fact or circumstance which contributes to a showing of Involuntary Termination shall
not waive any right of the Employee hereunder or preclude the Employee from asserting such fact or
circumstance in enforcing Employee’s rights hereunder.

     9. Arbitration. The parties agree that any controversy or claim arising out of, or
relating to, this Agreement, or the breach hereof, shall be submitted to the American Arbitration
Association (“AAA”) and that a neutral arbitrator will be selected in a manner consistent with the
AAA’s National Rules for the Resolution of Employment Disputes (the “Rules”). The arbitration
proceedings will allow for discovery according to the Rules. All arbitration proceedings shall be
conducted in Santa Clara County, California.

     10. Miscellaneous Provisions.

          (a) No Duty to Mitigate. The Employee shall not be required to mitigate the amount of
any payment contemplated by this Agreement, nor shall any such payment be reduced by any earnings
that the Employee may receive from any other source.

          (b) Waiver. No provision of this Agreement may be modified, waived or discharged
unless the modification, waiver or discharge is agreed to in writing and signed by both the
Employee and by an authorized officer of the Company (other than the Employee). No waiver by
either party of any breach of, or of compliance with, any condition or provision of this Agreement
by the other party shall be considered a waiver of any other condition or provision, or of the same
condition or provision at another time.

          (c) Integration. This Agreement and any outstanding equity agreements referenced
herein represent the entire agreement and understanding between the parties as to the subject
matter herein regarding severance and acceleration benefits and supersede all prior or
contemporaneous agreements, whether written or oral, with respect to this Agreement.

          (d) Choice of Law. The validity, interpretation, construction and performance of this
Agreement shall be governed by the internal substantive laws, but not the conflicts of law rules,
of the State of California.

          (e) Severability. The invalidity or unenforceability of any provision or provisions
of this Agreement shall not affect the validity or enforceability of any other provision hereof,
which shall remain in full force and effect.

          (f) Employment Taxes. All payments made pursuant to this Agreement shall be subject
to withholding of applicable income and employment taxes.

          (g) Counterparts. This Agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which together will constitute one and the same instrument.

5

 

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by
its duly authorized officer, as of the day and year first above written.

	 	 	 	 	 	 	 
	COMPANY:	 	GLU MOBILE INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	EMPLOYEE:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Signature	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Printed Name	 	 

[Signature Page to Change of Control Severance Agreement]

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00142-of-00352.parquet"}]]