Document:

Employment Agreement

 Exhibit 10.22 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as
of June 7, 2007 (the “Effective Date”), by and between NEOMAGIC CORPORATION, a Delaware corporation (the “Company”), and STEVEN P. BERRY (“Employee”). 
 RECITALS 
 A. The Company desires to retain the services of Employee, and
Employee desires to be employed by the Company, upon the terms and conditions set forth in this Agreement. 
 B. Employee acknowledges that
he has had an opportunity to consider this Agreement and consult with independent advisors of his choosing with regard to the terms of this Agreement, and enters this Agreement voluntarily and with a full understanding of its terms. 
 AGREEMENT 
 NOW, THEREFORE, in
consideration of the promises and the mutual covenants hereinafter set forth, the Company and Employee agree as follows: 
 1. Duties and
Scope of Employment. Beginning on August 6, 2007 (the “Start Date”), Employee will serve as the Company’s Vice President of Finance and Chief Financial Officer. Employee will be responsible for coordinating and supervising
all functional areas and operations of the finance group of the Company, as directed by the Chief Executive Officer of the Company and including without limitation the human resources and facilities functions, and shall report to the Chief Executive
Officer. Employee shall devote his full time and attention, with undivided loyalty, to the business and affairs of the Company during the term of this Agreement. Employee shall not engage in any other business or job activity during the term of this
Agreement without the Chief Employee Officer’s prior written consent. Employee shall in good faith perform those duties and functions as are required by his position and as are determined and assigned to him from time to time by the Board or
its designees. 
 2. At-Will Employment. The parties agree that Employee’s employment with the Company will be
“at-will” employment and may be terminated at any time with or without cause or notice. Employee understands and agrees that neither his job performance nor promotions, commendations, bonuses or the like from the Company give rise to or in
any way serve as the basis for modification, amendment, or extension, by implication or otherwise, of his employment with the Company. However, as described in this Agreement, Employee may be entitled to notice and/or severance benefits depending
upon the circumstances of Employee’s termination of employment. 
 3. Compensation. Employee shall receive compensation from the
Company for his services hereunder determined as follows: 
 (a) Base Salary. The Company agrees to pay to Employee a
base salary of $225,000 per year (“Base Salary”), payable in accordance with the Company’s then current payroll practices and subject to the usual, required withholding. Employee’s salary will be subject to review and adjustments
will be made based upon the Company’s standard practices. 
  

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 (b) Bonuses. Employee shall be eligible to receive bonuses in such amounts and
based upon performance criteria as the Compensation Committee of the Board (the “Committee”) determines in its discretion following consultation with Employee. The Employee will receive a signing bonus of $3,325 to be paid within 10 days
after the Effective Date. 
 (c) Equity. Employee will be eligible to receive awards of stock options, restricted stock
or other equity awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Committee will determine in its discretion whether Employee will be granted any such equity awards and the terms of any such award in
accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. The Committee has approved granting the Employee options to purchase 85,000 shares of the Company’s Common Stock, at an exercise price
equal to the closing bid price per share of the Company’s Common Stock on the Nasdaq Global Market on the Start Date (the “Option”). The Option shall have a vesting commencement date equal to the Start Date and shall vest as to 25% of
the total shares subject to the Option one year after the Start Date and 1/48 of the total shares subject to the Option each month thereafter, so that all the shares subject to the Option shall vest four years after the Start Date. 
 (d) Change in Control Payment. In the event of a Change in Control, Employee shall receive a lump sum payment in an amount equal to
twelve (12) months of Employee’s Base Salary, which shall be paid within ten (10) days of the effective date of such Change in Control. Such payment shall be paid subject to Employee’s continued employment with the Company
through the date of such Change in Control; provided, however that if Employee’s employment is terminated by the Company and/or its successors, if any, without Cause or Employee terminates his employment for Good Reason in connection with a
Change in Control, including, but not limited to, any such termination within 60 days prior to such Change in Control, Employee shall be entitled to receive the entire Change in Control payment. The Change in Control payment to be paid pursuant to
this Section 3(d) shall be in addition to any other payments Employee may otherwise be entitled to receive under Section 6. 
 4.
Employee Benefits. The Company agrees to provide Employee with the following benefits: 
 (a) Vacation. Employee
shall be entitled to accrue and use paid vacation time and Company holidays in accordance with the Company’s policies, with the timing and duration of specific vacations mutually and reasonably agreed to by the parties hereto. 
 (b) Additional Benefits. In addition to the foregoing, Employee shall be eligible to participate in benefit plans, programs, and
policies provided to other Company employees of similar status, on the terms and conditions existing, and as may be changed from time to time, for participation in those plans, programs, and policies. The Company reserves the right to cancel or
change the benefit plans and programs it offers to its employees at any time. 
  

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 5. Business Expense Reimbursement. Employee shall be authorized to incur reasonable business
expenses in performing his duties under this Agreement, including, but not limited to, expenses for entertainment, long distance telephone calls, mobile phone use, lodging, meals, air fare, transportation and travel. The Company will promptly
reimburse Employee for all such reasonable expenses upon presentation by Employee of an itemized account or other appropriate documentation of such expenses, in accordance with the Company’s policies. 
 6. Termination. Either the Company or Employee may terminate Employee’s employment in accordance with the provisions of this Section 6.
If Employee’s employment terminates for any reason, then the Company will pay Employee all earned or accrued but unpaid vacation, expense reimbursements, wages, bonuses, and other benefits due to Employee under applicable law and any
Company-provided plans, policies, and arrangements as then in effect. 
 (a) Termination by the Company.
Employee’s employment with the Company may be terminated by the Company for any reason or no reason, with or without Cause or justification, subject to the following: 
 (i) In the event that Employee’s employment with the Company is terminated by the Company for Cause, or due to Employee’s death
or Disability, then (A) all vesting will terminate immediately with respect to Employee’s outstanding equity awards, (B) all payments of compensation by the Company to Employee hereunder will terminate immediately (except as to
amounts already earned or accrued), and (C) Employee will only be eligible for severance benefits in accordance with the Company’s established policies, if any, as then in effect. 
 (ii) In the event Employee’s employment with the Company is terminated by the
Company for any reason other than a reason set forth in Section 6(a)(i) above, such termination will be effective upon sixty (60) days’ notice to Employee, and, subject to Sections 7 and 9, Employee will be entitled to: (A) a
lump sum payment in an amount equal to six (6) months of Employee’s Base Salary, (B) Company-paid coverage for Employee and Employee’s eligible dependents under the Company’s Benefit Plans for twelve (12) months
following such termination, and (C) Employee may exercise all vested and outstanding stock options and stock appreciation rights granted by the Company to Employee until the earliest of: (a) six (6) months from the effective date of
Employee’s termination, (b) the latest date the stock option or stock appreciation right could have expired by its original terms under any circumstances, or (c) the tenth (10th) anniversary of the original date of grant of the stock option or stock appreciation right. 
 (b) Termination by Employee. Employee may terminate his employment with the Company for any reason or no reason, with or without
cause or justification, subject to the following: 
 (i) If Employee’s employment with the Company is terminated by
Employee for any reason other than a reason set forth in Section 6(b)(ii), then (A) all vesting will terminate immediately with respect to Employee’s outstanding equity awards, (B) all payments of compensation by the Company to
Employee hereunder will terminate immediately (except as to amounts already earned or accrued), and (C) Employee will only be eligible for severance benefits in accordance with the 

  

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Company’s established policies, if any, as then in effect. If the Employee gives at least sixty (60) days’ prior written notice of termination
of his employment with the Company under this Section 6(b)(i), then, notwithstanding Section 6(b)(i)(A), Employee shall receive acceleration of 6 months vesting of all outstanding stock options and stock appreciation rights granted by the
Company to the Employee, such acceleration effective as of the 60th day after Employee has delivered such written notice of termination to the Company.

 (ii) In the event Employee resigns from his employment with the Company for Good Reason, then, subject to
Section 7, Employee will become entitled to the severance payments and benefits set forth in Section 6(a)(ii). 
 (c) Change in Control Termination. In the event Employee’s employment
is terminated by the Company or its successors, if any, without Cause or Employee terminates his employment with Good Reason following or in connection with a Change in Control, including, but not limited to, any such termination within 60 days of
such Change in Control, then in lieu of any severance benefits pursuant to Sections 6(a)(ii) or (b)(ii), Employee shall be entitled to: (A) the Change in Control payment pursuant to Section 3(d) to the extent it has not yet been paid,
(B) a lump sum payment in an amount equal to nine (9) months of Employee’s Base Salary, (C) Company-paid coverage for Employee and Employee’s eligible dependents under the Company’s Benefit Plans for twelve
(12) months following such termination, (D) immediate vesting of all outstanding options, stock appreciation rights or other similar rights to acquire Company common stock that are not otherwise vested as of such date shall immediately
vest in full, and (E) Employee may exercise all vested and outstanding stock options and stock appreciation rights (including stock options and stock appreciation rights that vest as a result of this Agreement) granted by the Company to
Employee until the earliest of: (a) six (6) months from the effective date of Employee’s termination, (b) the latest date the stock option or stock appreciation right could have expired by its original terms under any
circumstances, or (c) the tenth (10th) anniversary of the original date of grant of the stock option or stock appreciation right.

 7. Conditions to Receipt of Severance; No Duty to Mitigate. 
 (a) Separation Agreement and Release of Claims. The receipt of any severance pursuant to Sections 6(a)(ii), (b)(ii), or
(c) will be subject to Employee signing and not revoking a Separation Agreement and Release of Claims, the form of which is attached as Exhibit A of this Agreement. The parties agree to use the Exhibit A form of agreement, and that no
additional terms, separation agreements, and/or releases will be required. No severance pursuant to such Section will be paid or provided until the Separation Agreement and Release of Claims, attached as Exhibit A, becomes effective. 
 (b) No Duty to Mitigate. Employee will not be required to mitigate the amount of any payment contemplated by this Agreement, nor
will any earnings that Employee may receive from any other source reduce any such payment. 
  

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 8. Other Agreements. 
 (a) Confidentiality Agreement. Employee will execute the Company’s standard Employment, Confidential Information, Invention
Assignment and Arbitration Agreement and agrees to abide by its terms. 
 (b) Indemnification Agreement. Employee will
execute and become a party to the Company’s standard form Indemnification Agreement, in the same form of such agreement as to which the Company is a party with its senior executive officers and members of its Board. 
 9. Section 409A. 
 (a) Distributions. Notwithstanding anything to the contrary in this Agreement, if Employee is a “specified employee” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the
“Code”) and the final regulations and any guidance promulgated thereunder (“Section 409A”) at the time of Employee’s termination, and the severance payable to Employee, if any, pursuant to this Agreement, when considered
together with any other severance payments or separation benefits which may be considered deferred compensation under Section 409A (together, the “Deferred Compensation Separation Benefits”) will not and could not under any
circumstances, regardless of when such termination occurs, be paid in full by March 15 of the year following Employee’s termination, then only that portion of the Deferred Compensation Separation Benefits which do not exceed the
Section 409A Limit (as defined below) may be made within the first six (6) months following Employee’s termination of employment in accordance with the payment schedule applicable to each payment or benefit. For these purposes, each
severance payment is hereby designated as a separate payment and will not collectively be treated as a single payment. Any portion of the Deferred Compensation Separation Benefits in excess of the Section 409A Limit shall accrue and, to the
extent such portion of the Deferred Compensation Separation Benefits would otherwise have been payable within the first six (6) months following Employee’s termination of employment, will become payable on the first payroll date that
occurs on or after the date six (6) months and one (1) day following the date of Employee’s termination of employment. All subsequent Deferred Compensation Separation Benefits, if any, will be payable in accordance with the payment
schedule applicable to each payment or benefit. 
 (b) Amendment. This provision is intended to comply with the
requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to so comply. The
Company and the Employee agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition
prior to actual payment to the Employee under Section 409A. 
 10. Definitions. 
 (a) Benefit Plans. For purposes of this Agreement, “Benefit Plans” means plans, policies or arrangements that the
Company sponsors (or participates in) and that immediately prior to Employee’s termination of employment provide Employee and/or 

  

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Employee’s eligible dependents with medical, dental, and/or vision benefits. Benefit Plans do not include any other type of benefit (including, but not
by way of limitation, disability, life insurance or retirement benefits). A requirement that the Company provide Employee and Employee’s eligible dependents with coverage under the Benefit Plans will not be satisfied unless the coverage is no
less favorable than that provided to senior executives of the Company at any applicable time during the period Employee is entitled to receive severance pursuant to Section 6. The Company may, at its option, satisfy any requirement that the
Company provide coverage under any Benefit Plan by (i) reimbursing Employee’s premiums under Title X of the Consolidated Budget Reconciliation Act of 1985, as amended (“COBRA”) after Employee has properly elected
continuation coverage under COBRA (in which case Employee will be solely responsible for electing such coverage for his eligible dependents), or (ii) providing coverage under a separate plan or plans providing coverage that is no less favorable
or by paying Employee a lump sum payment which is, on an after-tax basis, sufficient to provide Employee and Employee’s eligible dependents with equivalent coverage under a third party plan that is reasonably available to Employee and
Employee’s eligible dependents. 
 (b) Cause. For purposes of this Agreement, “Cause” means
(i) the willful failure by Employee to substantially perform Employee’s material duties under this Agreement other than a failure resulting from the Employee’s Disability, (ii) Employee’s conviction of or plea of nolo
contendere to the commission of any felony or gross misdemeanor, but only if such event significantly harms the Company’s reputation or business; (iii) any fraud, misrepresentation or gross misconduct by Employee that is materially
injurious to the Company; (iv) a material and willful violation by Employee of a federal or state law or regulation applicable to the business of the Company which is materially injurious to the Company, and (v) Employee’s
willful breach of a material provision of this Agreement. The Company will not terminate Employee’s employment for Cause without first providing Employee with written notice specifically identifying the acts or omissions constituting the
grounds for a Cause termination and, with respect to clauses (i), (iii) and (v), a reasonable cure period of not less than thirty (30) business days following such notice. No act or failure to act by Executive will be considered
“willful” unless committed without good faith and without a reasonable belief that the act or omission was in the Company’s best interest, as determined by the Company’s Board of Directors. 
 (c) Change in Control. For purposes of this Agreement, a “Change in Control” shall be defined as follows: (i) any
“person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) is or becomes the “beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities
of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding voting securities; or (ii) the date of the consummation of a merger or consolidation of the Company with
any other corporation that has been approved by the stockholders of the Company, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by
remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding
immediately after such merger or consolidation; or (iii) the date of the consummation of the sale or disposition by the Company of all or substantially all the Company’s assets (for these purposes, a substantial sale or disposition will in
no event be considered to occur unless at least sixty percent (60%) of the total gross fair market value of all of the assets of the Company are sold or disposed of). 
  

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 (d) Disability. For purposes of this Agreement, “Disability” means
Employee’s inability to properly perform his duties by reason of incapacity for a period of more than ninety (90) consecutive days or one hundred eighty (180) days in any twelve-month period as the result of a mental or physical
condition which, in the reasonable opinion of a medical doctor selected by the Board, can be expected to be permanent or to be of an indefinite duration and which renders Employee unable to carry out the job responsibilities held by, or the tasks
assigned to, Employee immediately prior to the time the disabling condition was incurred (including, without limitation, if Employee is unable to travel by air for medical reasons), or which entitles Employee to receive disability payments under any
long-term disability insurance policy which covers Employee. 
 (e) Good Reason. For purposes of this Agreement,
“Good Reason” means Employee’s resignation within thirty (30) days following the expiration of any Company cure period (discussed below) following the occurrence of one or more of the following, without the Employee’s
consent: (i) the assignment to Employee of any duties, or the reduction of the Employee’s duties, either of which results in a material diminution of the Employee’s authority, duties, or responsibilities with the Company in effect
immediately prior to such assignment, or the removal of the Employee from such position and responsibilities; provided, however, that a reduction in authority, duties, or responsibilities solely by virtue of a Change in Control shall not
constitute “Good Reason” unless such reduction results in the removal of Employee from his position as Vice President of Finance and Chief Financial Officer in connection with a Change of Control; (ii) a material reduction of
Employee’s Base Salary (in other words, a reduction of more than ten percent of Employee’s Base Salary in any one year); (iii) a material change in the geographic location at which Employee must perform services (in other words, the
relocation of Employee to a facility that is more than twenty-five (25) miles from Employee’s current location); (iv) the failure of the Company to obtain assumption of this Agreement by any successor; and (v) the willful breach
by the Company of a material provision of this Agreement. Employee will not resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the grounds for “Good Reason” within ninety
(90) days of the initial existence of the grounds for “Good Reason” and a reasonable cure period of not less than thirty (30) days following the date of such notice. 
 (f) Section 409A Limit. For purposes of this Agreement, “Section 409A Limit” will mean the lesser of two
(2) times: (i) Employee’s annualized compensation based upon the annual rate of pay paid to Employee during the Company’s taxable year preceding the Company’s taxable year of Employee’s termination of employment as
determined under Treasury Regulation 1.409A-1(b)(9)(iii)(A)(1) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to
Section 401(a)(17) of the Code for the year in which Employee’s employment is terminated. 
  

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 11. Notices. Any notice which either party may wish or be required to give to the other party
pursuant to this Agreement shall be in writing and shall be either personally served or deposited in the United States mail, registered or certified and with proper postage prepaid, addressed as follows: 
 To the Company: 
 Douglas R. Young,
President 
 NeoMagic Corporation 
 3250 Jay Street 
 Santa Clara, CA 95054 
 To Employee: 
 Mr. Steven P. Berry 
 at the home address on file 
 with the Company
from time to time 
 or to such other address as the parties may designate from time to time by written notice to the other party given in the above manner.
Notice given by personal service shall be deemed effective upon service. Notice given by registered or certified mail shall be deemed effective three (3) days after deposit in the mail. 
 12. Miscellaneous. 
 (a) Modifications; Prevailing Agreement. This Agreement, together with Employment, Confidential Information, Invention Assignment, and Arbitration Agreement and any agreements representing any outstanding equity awards, represent the
entire agreement and understanding between the parties as to the subject matter herein and supersede all prior agreements and understandings between the parties relating to the employment of Employee by the Company, and it may not be changed or
terminated orally. No modification, termination or attempted waiver of any provisions of this Agreement shall be valid unless it is in a writing signed by the party against whom the same is sought to be enforced. To the extent any provision of this
Agreement conflicts with any other provision contained in another written agreement between the parties (except a written amendment to this Agreement), the terms of this Agreement shall prevail. 
 (b) Enforceability and Severability. If any term of this Agreement is deemed void, voidable, invalid or unenforceable for any
reason, such term shall be deemed severable from all other terms of this Agreement, which shall continue in full force and effect. 
 (c) Arbitration. 
 (i) General. In consideration of Employee’s service to the Company, its
promise to arbitrate all employment related disputes and Employee’s receipt of the compensation, pay raises and other benefits paid to Employee by the Company, at present and in the future, Employee agrees that any and all controversies,
claims, or disputes with anyone (including the Company and any employee, officer, director, shareholder or benefit plan of the Company in their capacity as such or otherwise) arising out of, relating to, or resulting from Employee’s service to
the Company under this Agreement or otherwise or the termination of 

  

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Employee’s service with the Company, including any breach of this Agreement, will be subject to binding arbitration under the Arbitration Rules set
forth in California Code of Civil Procedure Section 1280 through 1294.2, including Section 1283.05 (the “Rules”) and pursuant to California law. Disputes which Employee agrees to arbitrate, and thereby agrees to waive any right
to a trial by jury, include any statutory claims under state or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination in
Employment Act of 1967, the Older Workers Benefit Protection Act, the California Fair Employment and Housing Act, the California Labor Code, claims of harassment, discrimination or wrongful termination and any statutory claims. Employee further
understands that this Agreement to arbitrate also applies to any disputes that the Company may have with Employee. 
 (ii)
Procedure. Employee agrees that any arbitration will be administered by the Judicial Arbitration and Mediation Services (“JAMS”) and that a neutral arbitrator will be selected in a manner consistent with its National Rules for the
Resolution of Employment Disputes. All arbitration proceedings shall be held in Santa Clara County, California. The arbitration proceedings will allow for discovery according to the rules set forth in the Employment Arbitration Rules and
Procedures of JAMS (the “JAMS Rules”) or California Code of Civil Procedure. Employee agrees that the arbitrator will have the power to decide any motions brought by any party to the arbitration, including motions for summary
judgment and/or adjudication and motions to dismiss and demurrers, prior to any arbitration hearing. Employee agrees that the arbitrator will issue a written decision on the merits. Employee also agrees that the arbitrator will have the power to
award any remedies, including attorneys’ fees and costs, available under applicable law. Employee understands the Company will pay for any administrative or hearing fees charged by the arbitrator or JAMS except that with respect to any
arbitration Employee initiates, Employee will pay the amount Employee would have otherwise been required to pay to file a claim in court. Employee agrees that the arbitrator will administer and conduct any arbitration in a manner consistent with the
Rules and that to the extent that the Rules conflict with the Rules, the Rules will take precedence. 
 (iii) Remedy.
Except as provided by the Rules, arbitration will be the sole, exclusive and final remedy for any dispute between Employee and the Company. Accordingly, except as provided for by the Rules, neither Employee nor the Company will be permitted to
pursue court action regarding claims that are subject to arbitration. Notwithstanding, the arbitrator will not have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator will not order or require the Company
to adopt a policy not otherwise required by law which the Company has not adopted. The prevailing party in any arbitration proceeding shall be entitled to recover from the losing party all costs that it has incurred as a result of such proceeding,
including but not limited to, all reasonable travel costs and reasonable attorneys’ fees. 
 (iv) Availability of
Injunctive Relief. In addition to the right under the Rules to petition the court for provisional relief, Employee agrees that any party may also petition the court for injunctive relief where either party alleges or claims a violation of this
Agreement or the Confidentiality Agreement or any other agreement regarding trade secrets, confidential information, nonsolicitation or Labor Code §2870. In the event either party seeks injunctive relief, the prevailing party will be
entitled to recover reasonable costs and attorneys’ fees. 
  

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 (v) Administrative Relief. Employee understands that this Agreement does not
prohibit Employee from pursuing an administrative claim with a local, state or federal administrative body such as the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission or the workers’ compensation board.
This Agreement does, however, preclude Employee from pursuing court action regarding any such claim. 
 (vi) Voluntary
Nature of Agreement. Employee acknowledges and agrees that Employee is executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else. Employee further acknowledges and agrees that Employee has
carefully read this Agreement and that Employee has asked any questions needed for Employee to understand the terms, consequences and binding effect of this Agreement and fully understand it, including that EMPLOYEE IS WAIVING EMPLOYEE’S
RIGHT TO A JURY TRIAL. Finally, Employee agrees that Employee has been provided an opportunity to seek the advice of an attorney of Employee’s choice before signing this Agreement. 
 (d) Assignment. This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors and legal
representatives of Employee upon Employee’s death and (b) any successor of the Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this purpose,
“successor” means any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company. None
of the rights of Employee to receive any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment, transfer, conveyance or other
disposition of Employee’s right to compensation or other benefits will be null and void. 
 (e) Waiver of Breach.
The waiver of a breach of any term or provision of this Agreement, which must be in writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. 
 (f) Headings. All captions and section headings used in this Agreement are for convenient reference only and do not form a part of
this Agreement. 
 (g) Tax Withholding. All payments made pursuant to this Agreement will be subject to withholding of
applicable taxes. 
 (h) Governing Law. This Agreement and all remedies hereunder shall be construed and enforced in
accordance with the laws of the State of California (with the exception of its conflict of laws provisions). 
 (i)
Counterparts. This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. Faxed
signatures shall be deemed to be original signatures and shall be effective. 
  

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 (j) Acknowledgment. Employee acknowledges that he has had the opportunity to
discuss this matter with and obtain advice from his private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement.

 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed effective as of the date first set forth above. 
  

					
	EMPLOYEE	 		 	NEOMAGIC CORPORATION
			
	/S/    STEVEN P. BERRY        
	 	 	 	/S/    DOUGLAS R. YOUNG        

	Steven P. Berry	 		 	 Douglas R. Young,
 President and CEO

  

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 EXHIBIT A 
 TO EMPLOYMENT AGREEMENT OF STEVEN P. BERRY 
  

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 SEPARATION AGREEMENT AND RELEASE OF CLAIMS 
 This Separation Agreement and Release of Claims (“Separation Agreement”) is made by and between NeoMagic Corporation (the “Company”),
and Steven P. Berry (“Employee”). 
 WHEREAS, Employee is employed by the Company; 
 WHEREAS, the Company and Employee have entered into an Employment, Confidential Information, Invention Assignment and Arbitration Agreement (the
“Confidentiality Agreement”); 
 WHEREAS, the Company and Employee have entered into an Employment Agreement, dated
                                 (the “Employment Agreement”);

 WHEREAS, Employee’s employment with the Company will terminate effective
                         (the “Termination Date”); and 
 WHEREAS, pursuant to the terms of the Employment Agreement, Employee’s receipt of certain separation benefits is conditioned upon the execution of
this Separation Agreement; 
 NOW THEREFORE, in consideration of the mutual promises made herein, the Company and Employee (collectively
referred to as “the Parties”) hereby agree as follows: 
 1. Consideration. Provided that Employee does not revoke this
Agreement prior to the Effective Date, the Company agrees to pay Employee severance pay and other benefits, as well as provide for accelerated vesting and an extension of the exercise period on Employee’s outstanding options, pursuant to
Section 6 of the Employment Agreement. 
 2. Confidential Information. Employee shall continue to maintain the confidentiality of
all confidential and proprietary information of the Company and shall continue to comply with the terms and conditions of the Confidentiality Agreement between Employee and the Company. The Company acknowledges that Employee has returned all Company
property and confidential information that needs to be returned. 
 3. Payment of Salary. Employee acknowledges and represents that
the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Employee once the above noted payments and benefits are received. 
 4. Release of Claims. Employee agrees that the foregoing consideration represents settlement in full of all outstanding obligations owed to
Employee by the Company. Employee, on his behalf and his executors, heirs, family members and assigns, hereby fully and forever releases the Company and its officers, directors, employees, investors, shareholders, administrators, affiliates,
divisions, subsidiaries, predecessor and successor corporations, and assigns, from, and agrees not to sue concerning, any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected
or unsuspected, that he may possess arising from any omissions, acts or facts that have occurred up until and including the Termination Date, without limitation, 
  

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 (a) any and all claims relating to or arising from Employee’s employment
relationship with the Company and the termination of that relationship; 
 (b) any and all claims relating to, or arising
from, Employee’s right to purchase, or actual purchase of shares of stock of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and
securities fraud under any state or federal law; 
 (c) any and all claims for wrongful discharge of employment; termination
in violation of public policy; discrimination; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional
distress; negligent or intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery;
invasion of privacy; false imprisonment; and conversion; 
 (d) any and all claims for violation of any federal, state or
municipal statute, including, but not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards
Act, the Employee Retirement Income Security Act of 1974, The Worker Adjustment and Retraining Notification Act, Older Workers Benefit Protection Act; the California Fair Employment and Housing Act, and Labor Code section 201, et seq. and
section 970, et seq.; 
 (e) any and all claims for violation of the federal, or any state, constitution; 

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

 (g) any and all claims for attorneys’ fees and costs. 
 The Company and Employee agree that the release set forth in this section shall be and remain in effect in all respects as a complete general release as
to the matters released. This release does not extend to any obligations incurred under this Separation Agreement or to any rights Employee has to indemnification under the Company’s charter documents, applicable law or pursuant to the
Indemnification Agreement between himself and the Company. 
 (h) Waiver of Claims Under ADEA. Employee acknowledges
that the general release in this Separation Agreement is intended to constitute a complete waiver and release of, among other things, all rights or claims that Employee may have under the federal Age Discrimination in Employment Act
(“ADEA”). Employee acknowledges and agrees that he is receiving money and/or benefits under the terms of the Employment Agreement and this Separation Agreement to which he would not otherwise be entitled, and that he has been advised of
his right to seek advice regarding the terms and legal effect of this Separation Agreement with legal counsel of his own choosing. In addition, Employee acknowledges that he has been advised of his right to 

  

 14 

 
have at least twenty-one (21) days from his receipt of this Separation Agreement to consider this Separation Agreement before signing it, and that he
may revoke this Separation Agreement within seven (7) days after signing it by giving the Company written notice of his intent to revoke. This Separation Agreement, therefore, shall not become effective until the revocation period has expired.

 5. Company Release of Claims. The Company, on behalf of its respective officers, directors, investors, shareholders,
administrators, affiliates, divisions, subsidiaries, predecessor and successor corporations, agents, and assigns hereby fully and forever releases Employee and his respective heirs, family members, executors, agents, and assigns from, and agrees not
to sue concerning, any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that it may possess arising from any omissions, acts or facts that have occurred up
until and including the Termination Date. 
 6. Civil Code Section 1542. The Parties represent that they are not aware of any
claim by either of them other than the claims that are released by this Separation Agreement. Employee and the Company acknowledge that they have been advised by legal counsel and are familiar with the provisions of California Civil Code
Section 1542, which provides as follows: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO
EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR. 
 Employee and the Company, being aware of said code section, agree to expressly waive any rights they may have thereunder, as well as under any other statute or common law principles of similar effect. 
 7. No Pending or Future Lawsuits. Employee represents that he has no lawsuits, claims, or actions pending in his name, or on behalf of any other
person or entity, against the Company or any other person or entity referred to herein. Employee also represents that he does not intend to bring any claims on his own behalf or on behalf of any other person or entity against the Company or any
other person or entity referred to herein. 
 8. Confidentiality. The Parties agree that this Agreement may be filed as an exhibit to
the Company’s 10-Q for the period during which this Agreement becomes effective. 
 9. No Cooperation. Employee agrees he will
not act in any manner that might damage the business of the Company. Employee agrees that he will not counsel or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or
complaints by any third party against the Company and/or any officer, director, employee, agent, representative, shareholder or attorney of the Company, unless under a subpoena or other court order to do so. 
  

 15 

 10. Non-Solicitation. Employee agrees that for a period of twenty-four (24) months
immediately following the Termination Date, Employee will not either directly or indirectly solicit, induce, recruit or encourage any of the Company’s (or any of its subsidiary companies no matter where located) employees to leave their
employment, or take away such employees, or attempt to solicit, induce, recruit, encourage, take away or hire employees of the Company, either for himself or any other person or entity. To the extent this provision conflicts with any provision in
any other agreement between the parties, including the Confidentiality Agreement, the provision in this Separation Agreement shall prevail. 
 11. Non-Disparagement. Employee agrees to refrain from any defamation, libel or slander of the Company, and the Parties each agree to refrain from tortious interference with the contracts and relationships of the other. All inquiries
by potential future employers of Employee will be directed to the Company’s Vice President of Finance. Upon inquiry, the Company shall only state the following: Employee’s last position and dates of employment. 
 12. Costs. The Parties shall each bear their own costs, expert fees, attorneys’ fees and other fees incurred in connection with entering into
this Separation Agreement. 
 13. Arbitration. The Parties agree that any and all disputes arising out of the terms of this Separation
Agreement, their interpretation, and any of the matters herein released, shall be subject to binding arbitration in Santa Clara County before the American Arbitration Association under its California Employment Dispute Resolution Rules, pursuant to
Section 12(c) of the Employment Agreement. 
 14. Authority. The Company represents and warrants that the undersigned has the
authority to act on behalf of the Company and to bind the Company and all who may claim through it to the terms and conditions of this Separation Agreement. Employee represents and warrants that he has the capacity to act on his own behalf and on
behalf of all who might claim through him to bind them to the terms and conditions of this Separation Agreement. Each Party warrants and represents that there are no liens or claims of lien or assignments in law or equity or otherwise of or against
any of the claims or causes of action released herein. 
 15. No Representations. Each party represents that it has had the
opportunity to consult with an attorney, and has carefully read and understands the scope and effect of the provisions of this Separation Agreement. Neither party has relied upon any representations or statements made by the other party hereto which
are not specifically set forth in this Separation Agreement. 
 16. Severability. If any provision hereof becomes or is declared by a
court of competent jurisdiction to be illegal, unenforceable or void, this Separation Agreement shall continue in full force and effect without said provision. 
 17. Entire Agreement. This Separation Agreement, along with the Employment Agreement, any outstanding equity awards, the Indemnification Agreement and the Confidentiality Agreement (to the extent the
Confidentiality Agreement does not conflict with this Separation Agreement) represents the entire agreement and understanding between the Company and Employee concerning Employee’s separation from the Company, and supersedes and replaces any
and all prior agreements and understandings concerning Employee’s relationship with the Company and Employee’s compensation by the Company. 
  

 16 

 18. No Oral Modification. This Separation Agreement may only be amended in writing signed by
Employee and the President of the Company. 
 19. Governing Law. This Separation Agreement shall be governed by the laws of the State
of California. 
 20. Effective Date. This Separation Agreement is effective after it has been signed by both Parties and after seven
(7) days have passed since Employee has signed the Separation Agreement (the “Effective Date”), unless revoked by Employee within seven (7) days after the date the Separation Agreement was signed by Employee. 
 21. Counterparts. This Separation Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an
original and shall constitute an effective, binding agreement on the part of each of the undersigned. Faxed signatures shall be deemed to be original signatures and shall be effective. 
 22. Voluntary Execution of Agreement. This Separation Agreement is executed voluntarily and without any duress or undue influence on the part or
behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: 
 (a) They have
read this Separation Agreement; 
 (b) They have been represented in the preparation, negotiation, and execution of this
Separation Agreement by legal counsel of their own choice or that they have voluntarily declined to seek such counsel; 
 (c)
They understand the terms and consequences of this Separation Agreement and of the releases it contains; 
 (d) They are fully
aware of the legal and binding effect of this Separation Agreement. 
 IN WITNESS WHEREOF, the Parties have executed this Separation
Agreement on the respective dates set forth below. 
  

					
	  	 		 	  
		 		 	Date

 Employee: 
  

					
	  	 		 	  
	Steven P. Berry	 		 	Date

  

 17Severance Agreement for W. Keith Argabright

 Exhibit 10.1 
 SEVERANCE AGREEMENT 
 THIS SEVERANCE AGREEMENT (hereinafter referred to as this “Agreement”) is entered
into as of the 8th day of November, 2007, by and between The National Bank and Trust Company, a national banking association (hereinafter referred to as “NB&T”), and William Keith Argabright, Senior Vice President of Retail Banking of
NB&T, an individual (hereinafter referred to as the “Employee”); 
 WITNESSETH: 
 WHEREAS, as a result of the skill, knowledge and experience of the Employee, the Board of Directors of NB&T desires to retain the services of the
Employee as the Senior Vice President of Retail Banking of NB&T; 
 WHEREAS, the Employee desires to serve as the Senior Vice President
of Retail Banking of NB&T; and 
 WHEREAS, the Employee and NB&T desire to enter into this Agreement to set forth their understanding
as to their respective rights and obligations in the event of the termination of the Employee’s employment under the circumstances set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, NB&T and the Employee hereby agree as follows: 
 1. Term. This Agreement shall commence on the date set forth above and shall end thirty-six (36) months thereafter, subject to earlier termination as provided herein (hereinafter referred to as the
“Term”). The Term shall be extended automatically for one year on each anniversary of the date of this Agreement and shall continue to extend until NB&T elects not to extend the Term by providing notice to the Employee at least six
months before the anniversary date. 
 2. Termination of Employment. For purposes of this agreement: (i) a termination of
employment shall mean the Employee’s separation from service, as that phrase is defined in Section 409A of the Internal Revenue Code of 1986, as amended (“Code”) and Treasury Regulation (“Reg.”) § 1.409A-1(h); and
(ii) any reference to a termination by or from NB&T shall include a termination by or from NB&T and any other entity that, along with NB&T, would be considered a “service recipient” within the meaning of Section 409A
of the Code and Reg. § 1.409A-1(f). 

 (a) Termination for Just Cause. 
 (i) In the event that NB&T terminates the employment of the Employee before the expiration of the Term because of the Employee’s personal
dishonesty; incompetence; willful misconduct; breach of fiduciary duty involving personal profit; intentional failure or refusal to perform the duties and responsibilities performed by the Employee at the time of execution of this Agreement or as
otherwise consistent with the positions of Senior Vice President of Retail Banking; willful violation of any law, rule, regulation (other than traffic violations or similar offenses) or final cease-and-desist order; conviction or plea of guilty or
nolo contendere of a felony or for fraud or embezzlement; or material breach of any provision of this Agreement (hereinafter collectively referred to as “Just Cause”), the Employee shall not receive, and shall have no right to
receive, any compensation or other benefits for any period after such termination. 
 (ii) For purposes of Section 2(a)(i): 

 

	 	(A)	“incompetence” shall mean the Employee’s performance of his duties as measured against the then prevailing standards in the Ohio banking industry;

  

	 	(B)	no act, or failure to act, on the Employee’s part shall be considered “willful” unless he has acted or failed to act, with an absence of good faith and without a
reasonable belief that his action or failure to act was in the best interests of NB&T; and 

  

	 	(C)	a cease-and desist order shall not become final until consent by NB&T to such order or the exhaustion or lapse of all (administrative and judicial) appeal rights in relation
thereto. 

 (b) Termination without Just Cause and without a Change of Control. In the event that NB&T terminates the
employment of the Employee before the expiration of the Term without Just Cause and on a date that is more than six months before the occurrence of a Change of Control (hereinafter defined) or that is more than one year following the occurrence of a
Change of Control, the Employee shall not receive, and shall have no right to receive, any compensation or other benefits for any period after such termination. 
 (c) Termination in Connection with a Change of Control. 
 (i) In the event that NB&T terminates
the employment of the Employee before the expiration of the Term without Just Cause and within six months before the occurrence of a Change of Control or within one year following the occurrence of a Change of Control, then the following shall
occur: 
 (A) NB&T shall pay to the Employee, or to his dependents, beneficiaries or estate, an amount equal to two (2) times the
Employee’s Compensation (as defined below) in a lump sum without reduction for time value of money or 

 
other discount. This payment shall be made as promptly as practicable, but in no event later than March 15 of the calendar year following the calendar
year in which the termination occurred. For purposes of this section, the term “Employee’s Compensation” shall mean: (I) the higher of base salary immediately prior to the occurrence of the Change of Control or termination of the
Employee’s employment; plus (II) the highest bonus paid to the Employee during the five (5) years preceding his termination; 
 (B)
NB&T, its successors, survivors or assigns shall pay one hundred percent (100%) of all applicable premiums for continuation coverage for the Employee and his dependents under the group health plan of NB&T in which the Employee was a
participant at any time during the period referred to in Section 2(c)(i) until the earlier of the expiration of the Term or the date on which the Employee is eligible to participate in a group health plan of another employer as a full-time
employee; provided, however, that in no event shall this period extend beyond the period of time during which the Employee would be entitled to continuation coverage under the group health plan of NB&T under Section 4980B (COBRA) of the
Code; 
 (C) NB&T, its successors, survivors or assigns shall reimburse the Employee for one hundred percent (100%) of all
applicable premiums paid by the Employee and not otherwise reimbursed or compensated for by insurance for disability and life insurance policies not to exceed, in scope or benefit, any group disability and/or life insurance plan of NB&T in which
the Employee was a participant at any time during the period referred to in Section 2(c)(i) until the earliest of the expiration of the Term, eighteen (18) months after the Employee’s termination of employment, or the date on which
the Employee is eligible to participate in a similar disability or life insurance plan of another employer as a full-time employee. Any reimbursement made pursuant to this Section 2(c)(i)(C)) shall be made no later than the last day of the
calendar year in which the Employee incurred the expense being reimbursed. In no event shall the amount of expenses eligible for reimbursement under this Section 2(i)(C) for any calendar year affect the expenses eligible for reimbursement in an
other calendar year, and in no event may the Employee liquidate or exchange any right to reimbursement under this Section 2(i)(C) for any other right or benefit; and 

 (D) The Employee shall not be required to mitigate the amount of any payment provided for in this
Agreement by seeking other employment or otherwise, nor shall any amounts received from other employment or otherwise by the Employee offset in any manner the obligations of NB&T hereunder, except as specifically stated in subsections
(B) and (C). 
 (ii) The Employee may voluntarily terminate his employment with NB&T for Good Reason (as defined below) during the
one-year period following the occurrence of a Change of Control and shall be entitled to the compensation and benefits as set forth in Section 2(c)(i) of this Agreement. For purposes of this subsection, the term “Good Reason” shall
mean the occurrence of any of the following during the one-year period following the occurrence of a Change of Control: 
 (A) A material
diminution in the Employee’s base compensation; or 
 (B) A material change in the geographic location at which the Employee is required
to perform services (for this purpose and without limiting the foregoing, a material change is deemed to occur if the Employee is required to move his personal residence or perform his principal executive functions more than fifty (50) miles
from his primary office as of the date of the commencement of the Term). 
 The Employee shall be required to provide written notice to
NB&T or its successors, survivors or assigns within ninety (90) days of the initial existence of the condition constituting Good Reason and NB&T shall have thirty (30) days from the giving of this written notice in which to remedy
the condition constituting Good Reason and not be required to pay the compensation and benefits described in Section 2(c)(i). If the Employee shall fail to provide such written notice to NB&T within the period described above, then he will
be deemed to have consented to such condition and NB&T shall have no obligation to pay the compensation and benefits described in Section 2(c)(i) with respect to such condition. 
 (d) Death of the Employee. The Term shall automatically terminate upon the death of the Employee before his employment terminates. In the event of
such death, the Employee’s estate shall be entitled to receive the compensation due the Employee through the last day of the calendar month in which the death occurred, except as otherwise specified herein, which compensation shall be paid no
later than March 15 of the calendar year following the calendar year during which the Employee died. 

 (e) “Golden Parachute” Provisions. 
 (i) Any payments made to the Employee pursuant to this Agreement, or otherwise, are subject to and conditioned upon their compliance with
12 U.S.C. §1828(k) and regulations of the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve. 
 (ii) In the event that any payments pursuant to Section 2(c), alone or in combination with any other compensation, is subject to the
excise tax described in Section 280G(b)(3) of the Code and the regulations promulgated thereunder (hereinafter collectively referred to as “Section 280G”), such payments shall be reduced to the maximum amount that may be paid under
Section 280G without being considered an excess parachute payment subject to the excise tax imposed by Section 4999 of the Code. For purposes of this Section, any determination that a payment is subject to Section 280G and any
determination of the maximum amount that may be paid under Section 280G shall be made in writing by the principal certified accounting firm or other professional selected by NB&T in its sole discretion. In the event a reduction in payments
is necessary in order to comply with the requirements of this Agreement relating to the limitations of Section 280G or other applicable regulatory limits, the Employee may determine, in his sole discretion, the categories of current payments to
be reduced or eliminated. 
 (f) Definition of “Change of Control”. A “Change of Control” shall mean any one of the
following events: (i) the acquisition of ownership of, or power to vote, more than fifty (50) percent of the voting stock of NB&T or NB&T Financial Group, Inc., an Ohio corporation (hereinafter referred to as “NBTF”);
(ii) the merger of NB&T or NBTF into, or the consolidation of NB&T or NBTF with, another corporation, or the merger of another corporation into NB&T or NBTF, on a basis whereby less than fifty (50) percent of the total voting
power of the surviving corporation is represented by shares held by former shareholders of NBTF prior to such merger or consolidation; (iii) the acquisition of the ability to control the election of a majority of the directors of either of
NB&T or NBTF; (iv) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board of Directors of NB&T or NBTF cease for any reason to constitute at least a majority thereof; provided,
however, that any individual whose election or nomination for election as a member of the Board of Directors of NB&T or NBTF was approved by a vote of at least two-thirds of the directors then in office shall be considered to have continued to
be a member of the Board of Directors of NB&T or NBTF; (v) the acquisition by any person or entity of the power to direct NB&T’s management or policies, if the Board of Directors has made a determination that such acquisition
constitutes or will constitute an acquisition of control of NB&T or NBTF for the purpose of the Bank Holding Company Act or the Change in Bank Control Act and the regulations thereunder; or (vi) NB&T shall have sold substantially all of
its assets. For purposes of this paragraph, the term “person” refers to an individual, corporation, partnership, trust, association, joint venture, pool, syndicate or other organization or entity. 

 (g) Legal Fees. NB&T shall promptly pay all legal fees and expenses (including the costs of
experts, evidence and counsel) that the Employee may incur as a result of the Employee or NB&T contesting the validity or enforceability of this Agreement or the Employee seeking to obtain or enforce any right or benefit provided by this
Agreement if a court of competent jurisdiction renders a final decision in favor of the Employee with respect to any such contest, or to the extent agreed to by NB&T and the Employee in an agreement of settlement with respect to any such
contest. 
 3. Consolidation, Merger or Sale of Assets. Nothing in this Agreement shall preclude NB&T from consolidating with,
merging into, or transferring all, or substantially all, of its assets to another corporation that assumes all of NB&T’s obligations and undertakings hereunder. Upon such a consolidation, merger or transfer of assets, the term
“NB&T” as used herein shall mean such other corporation or entity and this Agreement shall continue in full force and effect; provided, however, that the assumption of NB&T’s obligations and undertakings hereunder shall not
affect the Employee’s right to payments pursuant to Section 2(c)(i) of this Agreement in connection with such consolidation, merger or transfer of assets. 
 4. Confidential Information. The Employee acknowledges that during his employment he will learn and have access to confidential information regarding NB&T and NBTF, and their customers and businesses. The
Employee agrees and covenants not to disclose or use for his own benefit, or the benefit of any other person or entity, any confidential information, unless or until NB&T and NBTF consent to such disclosure or use. The Employee shall not
knowingly disclose or reveal to any unauthorized person any confidential information relating to NB&T and NBTF, their parents, subsidiaries or affiliates, or to any of the businesses operated by them, and the Employee confirms that such
information constitutes the exclusive property of NB&T and NBTF. The Employee shall not otherwise knowingly act or conduct himself (a) to the material detriment of NB&T and NBTF, their parents, subsidiaries or affiliates, or (b) in
a manner which is inimical or contrary to the interests of NB&T and NBTF. 
 5. Nature of Employment. Nothing contained in this
Agreement shall create any employment relationship between NB&T and NBTF other than an employment relationship that is terminable “at will.” NB&T may terminate the Employee’s employment at any time, subject to providing any
payments specified herein in accordance with the terms hereof. 
 6. Nonassignability. Neither this Agreement nor any right or
interest hereunder shall be assignable by the Employee, his beneficiaries or his legal representatives without NB&T’s prior written consent; provided, however, that nothing in this Section 6 shall preclude (a) the Employee from
designating a beneficiary to receive any benefits payable hereunder upon his death, or (b) the executors, administrators, or other legal representatives of the Employee or his estate from assigning any rights hereunder to the person or persons
entitled thereto. 

 7. No Attachment. Except as required by law, no right to receive payment under this Agreement
shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge or hypothecation or to execution, attachment, levy, or similar process of assignment by operation of law, and any attempt, voluntary or
involuntary, to effect any such action shall be null, void and of no effect. 
 8. Amendment of Agreement. This Agreement may not be
modified or amended, except by an instrument in writing signed by the parties hereto. 
 9. Waiver. No term or condition of this
Agreement shall be deemed to have been waived, nor shall there be an estoppel against the enforcement of any provision of this Agreement, except by written instrument of the party charged with such waiver or estoppel. No such written waiver shall be
deemed a continuing waiver, unless specifically stated therein, and each waiver shall operate only as to the specific term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than the
act specifically waived. 
 10. Severability. If, for any reason, any provision of this Agreement is held invalid, such invalidity
shall not affect the other provisions of this Agreement not held so invalid, and each such other provision shall, to the full extent consistent with applicable law, continue in full force and effect. 
 11. Headings. The headings of the paragraphs herein are included solely for convenience of reference and shall not control the meaning or
interpretation of any of the provisions of this Agreement. 
 12. Governing Law; Regulatory Authority. This Agreement has been
executed and delivered in the State of Ohio and its validity, interpretation, performance and enforcement shall be governed by the laws of the State of Ohio, except to the extent that federal law is governing. 
 13. Effect of Prior Agreements. This Agreement contains the entire understanding between the parties hereto and supersedes any other prior
agreement between NB&T or any predecessor of NB&T and the Employee. 
 14. Notices. Any notice or other communication required
or permitted pursuant to this Agreement shall be deemed delivered if such notice or communication is in writing and is delivered personally or by facsimile transmission or is deposited in the United States mail, postage prepaid, addressed as
follows: 

			
	If to NB&T:	 	
		
		 	President
		 	The National Bank and Trust Company
		 	48 N. South Street
		 	Wilmington, Ohio 45177
		
	With copies to:	 	
		
		 	Cynthia A. Shafer
		 	Vorys, Sater, Seymour and Pease LLP
		 	Suite 2000, Atrium Two
		 	221 East Fourth Street
		 	Cincinnati, Ohio 45202
		
	If to the Employee:	 	
		
		 	William Keith Argabright
		 	45 Congressional Place
		 	Springboro, Ohio 45066

 15. Compliance with Section 409A of the Code. The compensation and benefits payable
pursuant to this Agreement are intended to be exempt from the requirements of Section 409A of the Code and, to the maximum extent permitted by law, shall be interpreted in a manner that results in its continued exemption from the requirements
of that section. In the event it is determined that any compensation or benefit payable pursuant to this Agreement is deferred compensation and that the Employee is a “specified employee”, both within the meaning of Section 409A of
the Code, then payments of such amount shall not be made until the earlier of six months following the date of the Employee’s termination or his death. 
 IN WITNESS WHEREOF, NB&T has caused this Agreement to be executed by its duly authorized officer, and the Employee has signed this Agreement, each as of the day and year first above written. 
  

							
	Attest:	 		 	THE NATIONAL BANK AND TRUST COMPANY
				
		 		 	By:	 	 /s/ John J. Limbert

		 		 		 	John J. Limbert
		 		 		 	President and Chief Executive Officer
				
	Attest:	 		 		 	
				
		 		 		 	 /s/ William Keith Argabright

		 		 		 	William Keith Argabright
		 		 		 	Senior Vice President Retail Banking

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