Document:

PROPERTY MANAGEMENT AGREEMENT

 

THIS
PROPERTY MANAGEMENT AGREEMENT (this “Agreement”) is made and
entered into as of  October 6, 2017, by and among Majulah Investment, Inc., a Delaware corporation, (“Managing
Agent”), and JLA Holdings PTE LTD, a People’s  Republic of China corporation, (the
“Company”),                 ( “Owner”).

 

W
I T N E S S E T H:

 

WHEREAS,
Owner   desires to engage Managing Agent to manage property located at Block 13A Yongtaiyuan, Haidian District,
Beijing, PRC with a GFA of 4,974.25 square meters (    the “Property”), (the
“Managed Premises”); and

 

WHEREAS,
Owner and Managing Agent wish to enter in to this Agreement with respect to services performed and fees due with respect to
such services upon Managing Agent becoming a Securities and Exchange Act reporting company.

 

NOW, THEREFORE,
in consideration of the premises and the agreements herein contained, Owner and Managing Agent hereby agree as follows:

 

1.                                     
Engagement.  Subject to the terms and conditions hereinafter set forth,
Owner hereby wishes to engage Managing Agent to provide the property management and administrative services with respect to the
Managed Premises contemplated by this Agreement.  Managing Agent hereby accepts such  engagement as managing agent
and agrees to devote such time, attention and effort as may be appropriate to operate and manage the Managed Premises in a diligent,
orderly and efficient manner.  Managing Agent may subcontract out some or all of its obligations hereunder to third parties;
provided, however, that, in any such event, Managing Agent shall be and remain primarily liable to Owner for performance hereunder.

 

Notwithstanding anything to the contrary set
forth in this Agreement, the services to be provided by Managing Agent hereunder shall exclude all services (including, without
limitation, any garage management or cafeteria management services).

 

2.            
General Parameters.  Any or all services may be performed or goods purchased by Managing Agent under arrangements
jointly with or for other properties owned or managed by Managing Agent and the costs shall be reasonably apportioned.  Managing
Agent may employ personnel who are assigned to work exclusively at the Managed Premises or partly at the Managed Premises and
other buildings owned and/or managed by Managing Agent.  Wages, benefits and other related costs of centralized accounting
personnel and employees employed by Managing Agent and assigned to work exclusively or partly at the Managed Premises shall be
fairly apportioned and reimbursed, pro rata, by Owner in addition to the Fee and Construction Supervision Fee (each as defined
in Section 6).

 

 

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3.                                     
Duties.  Without limitation, Managing Agent agrees to perform the following
specific duties:

 

(a)                                
To seek tenants for the Managed Premises in accordance with market rents and to negotiate
leases, including renewals thereof, and to lease space to tenants, at rentals, and for periods of occupancy all on market terms. 
To employ appropriate means in order that the availability of rental space is made known to potential tenants, including, but not
limited to, the employment of brokers.  The brokerage and legal expenses of negotiating such leases and leasing such space
shall be paid by the applicable Owner.

 

(b)                                
To collect all rents and other income from the Managed Premises and to give receipts therefor,
both on behalf of Owner, and deposit such funds in such banks and such accounts as are named, from time to time, by Owner, in
agency accounts for and under the name of Owner.  Managing Agent shall be empowered to sign disbursement checks on these
accounts.  Managing Agent may also use pooled bank accounts for the benefit of Owner and other Owners for whom the Managing
Agent provides services, provided separate records and accountings of such funds are maintained.

 

(c)                                 
To make contracts for and to supervise any repairs and/or alterations to the Managed Premises,
including tenant improvements on reasonable commercial terms.

 

(d)                                
For Owner’s account and at its expense, to hire, supervise and discharge employees as
required for the efficient operation and maintenance of the Managed Premises.

 

(e)                                 
To obtain, at Owner’s expense, appropriate insurance for the Managed Premises protecting
Owner and Managing Agent while acting on behalf of Owner against all normally insurable risks relating to the Managed Premises
and complying with the requirements of Owner’s mortgagee, if any, and to cause the same to be provided and maintained by all
tenants with respect to the Managed Premises to the extent required by the terms of such tenants’ leases.  Notwithstanding
the foregoing, Owner may determine to purchase insurance directly for their own account.

 

(f)                                  
To promptly notify the applicable Owner’s insurance carriers, as required by the applicable
policies, of any casualty or injury to person or property at the Managed Premises, and complete customary reports in connection
therewith.

 

(g)                                 
To procure all supplies, other materials and services as may be necessary for the proper operation
of the Managed Premises, at Owner’ expense.

 

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(h)                                
To pay promptly from rental receipts, other income derived from the Managed Premises, or other
monies made available by Owner for such purpose, all costs incurred in the operation of the Managed Premises which are expenses
of Owner hereunder, including wages or other payments for services rendered, invoices for supplies or other items furnished in
relation to the Managed Premises, and pay over forthwith the balance of such rental receipts, income and monies to Owner or as
Owner shall from time to time direct.  In the event that the sum of the expenses to operate and the compensation due Managing
Agent exceeds gross receipts in any month and no excess funds from prior months are available for payment of such excess, Owner
shall pay promptly the amount of the deficiency thereof to Managing Agent upon receipt of statements therefor.

 

(i)                                    
To keep Owner apprised of any material developments in the operation of the Managed Premises.

 

(j)                                   
To establish reasonable rules and regulations for tenants of the Managed Premises.

 

(k)                                
On behalf of and in the name of Owner, to institute or defend, as the case may be, any and
all legal actions or proceedings relating to the operation of the Managed Premises.

 

(l)                                    
To maintain the books and records of Owner reflecting the management and operation of the
Managed Premises, making available for reasonable inspection and examination by Owner or their representatives all books, records
and other financial data relating to the Managed Premises at the place where the same are maintained.

 

(m)                            
To prepare and deliver seasonably to tenants of the Managed Premises such statements of expenses
or other information as shall be required on the landlord’s part to be delivered to such tenants for computation of rent,
additional rent, or any other reason.

 

(n)                                
To aid, assist and cooperate with Owner in matters relating to taxes and assessments and
insurance loss adjustments, notify Owner of any tax increase or special assessments relating to the Managed Premises and to enter
into contracts for tax abatements services.

 

(o)                                
To provide such emergency services as may be required for the efficient management and operation
of the Managed Premises on a twenty-four (24)-hour basis.

 

(p)                                
To enter into contracts on commercially reasonable terms for utilities (including, without
limitation, water, fuel, electricity and telephone) and for building services (including, without limitation, cleaning of windows,
common areas and tenant space, ash, rubbish and garbage hauling, snow plowing, landscaping, carpet cleaning and vermin extermination),
and for other services as are appropriate to the Managed Premises. 

 

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(q)                                
To seek market terms for all items purchased or services contracted by it under this Agreement.

 

(r)                                   
To take such action generally consistent with the provisions of this Agreement as Owner might
with respect to the Managed Premises if personally present.

 

4.                                     
Authority.  Owner gives to Managing Agent the authority and powers to perform
the foregoing duties on behalf of Owner and authorize Managing Agent to incur such reasonable expenses, as contemplated in Sections
2, 3 and 5 on behalf of Owner as are necessary in the performance of those duties.

 

5.                                     
Special Authority of Managing Agent.  In addition to, and not in limitation
of, the duties and authority of Managing Agent contained herein, Managing Agent shall perform the following duties:

 

(a)                                
Terminate tenancies and sign and serve in the name of Owner such notices therefor as may
be required for the proper management of the Managed Premises.

 

(b)                                
At Owner’s expense, institute and prosecute actions to evict tenants and recover possession
of rental space, and recover rents and other sums due; and when expedient, settle, compromise and release such actions or suits
or reinstate such tenancies.

 

6.                                     
Compensation.

 

(a)                                
In consideration of the services to be rendered by Managing Agent hereunder, Owner agrees
to pay and Managing Agent agrees to accept as its compensation (i) a management fee (the “Fee”) equal to
12.5% of the gross collected rents actually received by Owner from the Managed Premises, such gross rents to include all fixed
rents, percentage rents, additional rents, operating expense and tax escalations, and any other charges paid to Owner in connection
with occupancy of the Managed Premises, but excluding any amounts collected from tenants to reimburse Owner for the cost of capital
improvements or for expenses incurred in curing any tenant default or in enforcing any remedy against any tenant; and (ii) a
construction supervision fee, the (Construction Supervision Fee) in connection with all interior and exterior construction
renovation or repair activities at the Managed Premises, including, without limitation, all tenant and capital improvements in,
on or about the Managed Premises, undertaken during the term of this Agreement, other than ordinary maintenance and repair, equal
to five percent (5%) of the cost of such construction which shall include the costs of all related professional services and the
cost of general conditions.

 

(b)                                
Unless otherwise agreed, the Fee shall be due and payable monthly, in arrears based on a reasonable
annual estimate or budget with an annual reconciliation within thirty (30) days after the end of each calendar year.  The
Construction Supervision Fee shall be due and payable periodically, as agreed by
Managing Agent and Owner, based on actual costs incurred to date.

 

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(c)                                 
Notwithstanding anything herein to the contrary, Owner shall reimburse Managing Agent for
reasonable travel expenses incurred when traveling to and from the Managed Premises while performing its duties in accordance with
this Agreement; provided, however, that reasonable travel expenses shall not include expenses incurred for travel to and from the
Managed Premises by personnel assigned to work exclusively at the Managed Premises.

 

(d)                                
Managing Agent shall be entitled to no other additional compensation, whether in the form
of commission, bonus or the like for its services under this Agreement.  Except as otherwise specifically provided herein
with respect to payment by Owner of legal fees, accounting fees, salaries, wages, fees and charges of parties hired by Managing
Agent on behalf of Owner to perform operating and maintenance functions in the Managed Premises, and the like, if Managing Agent
hires third parties to perform services required to be performed hereunder by Managing Agent without additional charge to Owner,
Managing Agent shall (except to the extent the same are reasonably attributable to an emergency at the Managed Premises) be responsible
for the charges of such third parties.

 

7.                                     
Term of Agreement. This Agreement shall continue in force and effect until January
31, 2023, and, on December 31 of each year after the effective date of this Agreement (each, an “Extension Date”),
the term of this Agreement shall be automatically extended an additional year so that the term of this Agreement thereafter ends
on the twentieth anniversary of such Extension Date.

 

Notwithstanding any other provision of this
Agreement to the contrary, this Agreement, or any extension thereof, may be terminated prior to the expiration of the term:

 

(a)                                
by the Company (on behalf of itself and Owner), (i) upon sixty (60) days prior
written notice to Managing Agent (such termination, a “Termination for Convenience”), (ii) for Cause, immediately
upon written notice to Managing Agent (such termination, a “Termination for Cause”), (iii) for a Performance
Reason, upon written notice to Managing Agent given within sixty (60) days after the end of the calendar year giving rise to such
Performance Reason (such termination, a “Termination for Performance”), or (iv) by written notice at any
time during the twelve (12) month period immediately following the date a Managing Agent Change of Control occurred; or

 

(b)                                
by Managing Agent, for Good Reason, upon sixty (60) days prior written notice to the
Company (or ninety (90) days if the Company takes steps to cure any relevant default within thirty (30) days of written notice
to the Company).

 

Any notice of termination shall include the reason for such termination.

 

In the
event of a Termination for Convenience by the Company or a termination by Managing Agent pursuant to Section 7(b),
the Company shall pay Managing Agent an amount in cash (the “Full Termination Fee”) equal to the sum of the present
values of monthly future fees payable for the remaining term. 

 

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In the event of a Termination for Performance,
the Company shall pay Managing Agent an amount in cash (the “Performance Termination Fee”) equal to the sum of
the present values of Monthly Future Fees payable for the first one hundred twenty (120) months of the Remaining Term.

 

No Full Termination Fee or Performance Termination
Fee shall be payable in the event of termination by the Company pursuant to Section 7(a)(ii) (Termination For
Cause) or Section 7(a)(iv) (following a Managing Agent Change of Control).

 

The provisions of this Section 7
shall not apply as a limitation on the amount which may be paid by agreement of the Company and Managing Agent in connection with
a transaction pursuant to which any assets or going business values of Managing Agent are acquired by the Company in association
with termination of this Agreement and the Full Termination Fee or the Performance Termination Fee, as applicable, is in addition
to any amounts otherwise payable to Managing Agent under this Agreement as compensation for services and for expenses of or reimbursement
due to Managing Agent through the date of termination.

 

8.                                     
Termination.  Upon termination of this Agreement with respect to any of
the Managed Premises for any reason whatsoever, Managing Agent shall as soon as practicable turn over to Owner all books, papers,
funds, records, keys and other items relating to the management and operation of such Managed Premises, including, without limitation,
all leases in the possession of Managing Agent and shall render to Owner a final accounting with respect thereto through the date
of termination.  Owner shall be obligated to pay all compensation for services rendered by Managing Agent hereunder prior
and up to the effective time of such termination, including, without limitation, any Fees and Construction Supervision Fees, and
shall pay and reimburse to Managing Agent all expenses and costs incurred by Managing Agent prior and up to the effective time
of such termination which are otherwise payable or reimbursable to Managing Agent pursuant to the terms of this Agreement (collectively,
“Accrued Fees”).  The amount of such fees paid as compensation pursuant to the foregoing sentence shall be
subject to adjustment in accordance with the annual reconciliation contemplated by Section 6(b) and consistent
with past practices in performing such reconciliation.

 

A computation of all Accrued Fees and of the
Termination Fee, if any, due upon termination shall be delivered by Managing Agent to the Company within thirty (30) days following
the effective date of termination. The Accrued Fees and, to the extent applicable, the Full Termination Fee or Performance Termination
Fee, due upon termination shall be payable within ten (10) business days following the delivery to the Company of such computation.

 

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In addition to other actions on termination
of this Agreement, for up to one hundred twenty (120) days following the date of notice of a termination of this Agreement, Managing
Agent shall cooperate with the Company and the Owner and use commercially reasonable efforts to facilitate the orderly transfer
of management of the Managed Premises.  In connection therewith Managing Agent shall assign to the Company, to one or more
Owners, or to their designee(s), as directed by the Company, and the Company, such Owner(s) or their designee(s) shall
assume, all contracts entered into by Managing Agent pursuant to this Agreement, but excluding all insurance contracts, and multi-property
contracts not limited in scope to the Managed Premises and all contracts with affiliates of Managing Agent.  Managing Agent
shall also transfer to the Company all proprietary information with respect to the Company and/or the Owner.  Additionally,
the Company, one or more Owners, or their designee(s) shall have the right to offer employment to any employee of Managing
Agent whom Managing Agent proposes to terminate in connection with a Covered Termination and Managing Agent shall cooperate with
the Company, such Owner, or their designee(s) in connection therewith.

 

9.                                     
Assignment of Rights and Obligations.

 

(a)                                
Without Owner’s prior written consent, Managing Agent shall not sell, transfer, assign
or otherwise dispose of or mortgage, hypothecate or otherwise encumber or permit or suffer any encumbrance of all or any part of
its rights and obligations hereunder, and any transfer, encumbrance or other disposition of an interest herein made or attempted
in violation of this paragraph shall be void and ineffective, and shall not be binding upon Owner. Notwithstanding the foregoing,
Managing Agent may assign its rights and delegate its obligations under this Agreement to any subsidiary of parent so long as such
subsidiary is then and remains controlled by parent.

 

(b)                                
Owner, without Managing Agent’s consent, may not assign their respective rights or delegate
their respective obligations hereunder.

 

(c)                                 
Any assignment permitted hereunder shall not release the assignor hereunder.

 

10.                              
Indemnification and Insurance.

 

(a)                                
Owner agrees to defend, indemnify and hold harmless Managing Agent from and against all costs,
claims, expenses and liabilities (including reasonable attorneys’ fees) arising out of Managing Agent’s performance of
its duties in accordance with this Agreement including, without limitation, injury or damage to persons or property occurring in,
on or about the Managed Premises and violations or alleged violations of any law, ordinance, regulation or order of any governmental
authority regarding the Managed Premises except any injury, damage or violation resulting from Managing Agent’s fraud, gross
negligence or willful misconduct in the performance of its duties hereunder.

 

7

 

 

(b)                                
Owner and Managing Agent shall maintain such commercially reasonable insurance as shall from
time to time be mutually agreed by Owner and Managing Agent.

 

11.                              
Notices.  Any notice, report or other communication required or permitted
to be given hereunder shall be in writing and shall be deemed to have been duly given when delivered in person, upon confirmation
of receipt when transmitted by facsimile transmission, on the next business day if transmitted by a nationally recognized overnight
courier or on the third (3rd) business day following mailing by first class mail, postage prepaid, in each case as follows (or
at such other United States address or facsimile number for a party as shall be specified by like notice):

 

If to the Company or the Owner:

 

JLA HOLDINGS PTE. LTD.

Building 7

No. 1220 Jiangning Road

Shanghai 200060, PRC

Attn:  Jonathan Lim 

 

 

 

If to Managing Agent:

 

Majulah Investment, Inc.

276 5th Avenue, Suite 704

New York, New York, 10001

Attn: Ding Jie Lin

 

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12.                              
Limitation of Liability.  No trustee, officer, shareholder, employee or
agent of such Owner shall be held to any personal liability, jointly or severally, for any obligation of, or claim against, such
Owner.  All persons and entities dealing with such Owner, in any way, shall look only to the respective assets of such Owner
for the payment of any sum or the performance of any obligation of such Owner.  In any event, all liability of such Owner
hereunder is limited to the interest of such Owner in the Managed Premises and, in the case of Managing Agent, to its interest
hereunder.

 

13.                              
 Disposition of Property.  This Agreement shall automatically terminate
with respect to the foregoing property disposed of by Owner in the ordinary course of business, effective upon such disposition.

 

14.                              
Modification of Agreement.  This Agreement may not be modified, altered
or amended in any manner except by an amendment in writing, duly executed by the parties hereto.

 

15.                              
Independent Contractor.  This Agreement is not one of general agency by
Managing Agent for Owner, but Managing Agent is being engaged as an independent contractor.  Nothing in this Agreement is
intended to create a joint venture, partnership, tenancy-in-common or other similar relationship between Owner and Managing Agent
for any purposes whatsoever.

 

16.                              
Governing Law.  The provisions of this Agreement and any Dispute (as defined
below), whether in contract, tort or otherwise, shall be governed by and construed in accordance with the laws of the State of
Delaware without regard to principles of conflicts of law.

 

17.                              
Successors and Assigns.  This Agreement shall be binding upon, and inure
to the benefit of, any successors or permitted assigns of the parties hereto as provided herein.

 

18.                              
No Third Party Beneficiary.  Except as otherwise provided in Section 21(i),
no person or entity other than the parties hereto and their successors and permitted assigns is intended to be a beneficiary of
this Agreement.

 

9

 

 

19.                              
Severability.  If any one or more of the provisions contained herein, or
the application thereof in any circumstance, is held invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall not be in
any way impaired, unless the provisions held invalid, illegal or unenforceable shall substantially impair the benefits of the remaining
provisions hereof.

 

20.                              
Survival.  Except for Sections 1 through 5 and Section 13,
all other provisions of this Agreement shall survive the termination hereof.  Any termination of this Agreement shall be without
prejudice to the rights of the parties hereto accrued prior to the termination or upon termination.

  

21.                              
Consent to Jurisdiction and Forum.  The
exclusive jurisdiction and venue in any action brought by any party hereto pursuant to this Agreement shall lie in any federal
or state court located in Delaware.  By execution and delivery of this Agreement, each party hereto irrevocably submits to
the jurisdiction of such courts for itself and in respect of its property with respect to such action. The parties irrevocably
agree that venue would be proper in such court, and hereby waive any objection that such court is an improper or inconvenient
forum for the resolution of such action.  The parties further agree and consent to the service of any process required by
any such court by delivery of a copy thereof in accordance with Section 11 and that any such delivery shall constitute
valid and lawful service of process against it, without necessity for service by any other means provided by statute or rule of
court. 

 

22.                               Entire
Agreement.  This Agreement constitutes the entire agreement of the parties hereto with respect to the subject
matter hereof and supersedes any pre-existing agreements with respect to such subject matter.  This Agreement
constitutes an integral part of, and a condition to, the transactions contemplated by the Transaction Agreement entered into
as of the date hereof by and among the Company and Managing Agent.

 

 

[Signature Page To Follow.]

 

10

 

 

IN WITNESS
WHEREOF, the parties hereto have executed this Property Management Agreement as a sealed instrument as of the date above
first written.

 

 

	 	MANAGING AGENT:
	 	 
	 	 
	 	MAJULAH INVESTMENT, INC.
	 	 	 
	 	 	 
	 	By:	/s/
    Ding Jie Lin
	 	 	Name:	Ding Jie Lin
	 	 	Title:	Chief Executive Officer
	 	 	 
	 	 	 
	 	OWNER:
	 	 
	 	 
	 	JLA HOLDINGS PTE LTD
	 	 
	 	 
	 	By:	/s/
    Jonathan Lim
	 	 	Name:	Jonathan Lim 
	 	 	Title:	President
	 	 	 
	 	 
	 	 

 

[Signature Page to the Property Management
Agreement]Exhibit 10.1

 

STOCKHOLDERS AGREEMENT

 

This STOCKHOLDERS AGREEMENT
(this “Agreement”) is made and entered into as of November 16, 2017, by and among (i) Rubicon Technology, Inc.,
a Delaware corporation (the “Company”) and (ii) Bandera Partners LLC, a Delaware limited liability company (“Bandera
Partners”), Bandera Master Fund L.P., a Cayman Islands exempted limited partnership (“Bandera Master”),
Gregory Bylinsky (“Bylinsky”) and Jefferson Gramm (“Gramm” and together with Bandera Partners,
Bandera Master and Bylinsky and their respective associates and affiliates, the “Bandera Group”). Bandera Partners,
Bandera Master, Bylinsky, Gramm and the Company each may be referred to herein as a “Party” and collectively
as the “Parties.”

 

RECITALS

 

WHEREAS, Bandera Master
entered into a Stock Purchase Agreement, dated as of November 16, 2017 (the "Stock Purchase Agreement"), with
Cross Atlantic Technology Fund II, L.P, a Delaware limited partnership, and The Co-Investment 2000 Fund, L.P., a Delaware limited
partnership (collectively, “Sellers”), whereby on November 16, 2017, the Sellers sold to Bandera Master and
Bandera Master purchased from the Sellers 221,784 shares of the Company's common stock, par value $.001 per share (the "Common
Stock");

 

WHEREAS, Donald R.
Caldwell (“Caldwell”) served on the Company’s Board of Directors (the “Board”) as a
representative of the Sellers and, in connection with the closing of the transactions contemplated by the Stock Purchase Agreement
(the “Transactions”), Caldwell resigned from the Board effective November 16, 2017;

 

WHEREAS, the Company
has invited Gramm to join the Board as a representative of the Bandera Group and the Bandera Group has agreed to enter into this
Agreement with the Company as a condition to such appointment;

 

NOW, THEREFORE, in
consideration of the foregoing premises and the mutual covenants and agreements contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound
hereby, agree as follows:

 

1.       Appointment
of Director. Each Party agrees that:

 

(a) Effective immediately
following the execution of this Agreement, the Board will take all action necessary to appoint Gramm as a Class III director of
the Company with a term expiring at the Company’s 2019 annual meeting of stockholders (the “2019 Annual Meeting”).  
In the event that Gramm is unable to serve as a director, resigns as a director or is removed as a director without cause prior
to the 2019 Annual Meeting, then the Bandera Group shall have the ability to recommend a substitute person for appointment or election
to the Board; provided, that any substitute person recommended by the Bandera Group shall qualify as “independent”
pursuant to The Nasdaq Stock Market LLC listing standards and have relevant financial and business experience to fill the resulting
vacancy. In the event the Nominating and Governance Committee of the Board (the “Nominating Committee”) does
not accept a substitute person recommended by the Bandera Group, the Bandera Group will have the right to recommend additional
substitute persons for consideration by the Nominating Committee. Upon the acceptance of a replacement director nominee by the
Nominating Committee, the Board will take such actions as necessary to appoint such replacement director to the Board no later
than five (5) Business Days (as defined below) after the Nominating Committee’s recommendation of such replacement director.
 Gramm and any such replacement director shall be subject to the Company’s policies applicable to directors of the Company.

 

    

     

    

 

(b)  If at any
time prior to the date of the 2019 Annual Meeting the Bandera Group’s beneficial ownership of Common Stock does not equal
at least 5.0% of Company’s then-outstanding Common Stock (subject to adjustment for stock splits, reclassifications, combinations
and similar adjustments), then (i) the Bandera Group shall promptly provide written notice thereof to the Board; and (ii) the
Company may, in its sole discretion, determine to request in writing to the Bandera Group that Gramm or such other Bandera Group
replacement director resign from the Board. Each of the Bandera Group and Gramm hereby agrees that Gramm or such other Bandera
Group replacement director will promptly resign from the Board upon receiving the notice set forth in clause (ii).

 

(c) On or before the
date hereof, Gramm has completed a directors and officers’ questionnaire in the form provided by the Company which is true,
complete and correct in all material respects. For so long as he shall serve on the Board, Gramm shall meet the requirements applicable
to independent directors and audit committee members of the Company, including without limitation, the independence rules set forth
in the listing rules of The Nasdaq Stock Market LLC and SEC (as defined below) rules. Gramm shall promptly provide written notice
to the Company upon any material change to the information set forth in such questionnaire.

 

2.       Voting.

 

(a)       Until
the Termination Date (as defined below), each member of the Bandera Group shall, or shall cause each of its applicable Representatives
(as defined below) to, appear in person or by proxy at each Stockholder Meeting (as defined below) and to vote all shares of Common
Stock beneficially owned by such person and over which such person has voting power at such Stockholder Meeting in accordance with
each of the Board’s recommendations with respect to each proposal to be submitted to the stockholders of the Company, including,
without limitation, each election of directors and each removal of directors; provided, however, that the members of the
Bandera Group are expressly permitted to vote the shares of Common Stock beneficially owned by them in their sole discretion with
respect to any proposal related to a tender offer, exchange offer, merger, consolidation, recapitalization, restructuring, liquidation,
dissolution, business combination, disposition of all or substantially all of the assets of the Company or any other stockholder
change-of-control transaction of the Company (each an “Extraordinary Transaction”).

 

(b)       No
member of the Bandera Group shall execute any proxy card or voting instruction form in respect of any Stockholder Meeting other
than the proxy card and related voting instruction form being solicited by or on behalf of the Board; provided, however,
that such restriction shall not apply if a proposal relating to an Extraordinary Transaction is brought before the Stockholder
Meeting. Each member of the Bandera Group agrees that it shall not, and that it shall not permit any of its respective Representatives
to, directly or indirectly, take any action inconsistent with this Section 2.

 

    2

     

    

 

3.       Standstill.
Until the Termination Date, without the prior written consent of the Board, each member of the Bandera Group shall not, and shall
cause its Affiliates and Associates (each as defined below) under its control not to, directly or indirectly:

 

(a)       (i)
nominate or recommend for nomination a person for election at any Stockholder Meeting at which directors of the Board are to be
elected (except as otherwise permitted by Section 1 of this Agreement); (ii) initiate, encourage or participate in any solicitation
of proxies in respect of any election contest with respect to the Company’s directors; (iii) submit any stockholder proposal
for consideration at, or bring any other business before, any Stockholder Meeting; (iv) initiate, encourage or participate in any
solicitation of proxies in respect of any stockholder proposal for consideration at, or bring any other business before, any Stockholder
Meeting; or (v) initiate, encourage or participate in any “withhold” or similar campaign with respect to any Stockholder
Meeting or any solicitation of written consents of stockholders;

 

(b)       form,
join or in any way participate in any group (other than a group solely consisting of the members of the Bandera Group and their
respective Affiliates and Associates) with respect to any voting securities of the Company in connection with any election or removal
contest with respect to the Company’s directors or any stockholder proposal or other business brought before any Stockholder
Meeting;

 

(c)       deposit
any Company voting securities in any voting trust or subject any Company voting securities to any arrangement or agreement with
respect to the voting thereof;

 

(d)       seek,
alone or in concert with others, to amend any provision of the Company’s certificate of incorporation or bylaws;

 

(e)       demand
an inspection of the Company’s books and records (other than under Section 220(d) of the Delaware General Corporation Law
solely in Gramm’s capacity as a director in a manner consistent with his fiduciary duties to the Company);

 

(f)       effect
or seek to effect, offer or propose to effect, cause or participate in, or in any way assist or facilitate any other person to
effect or seek, offer or propose to effect or participate in any (i) material acquisition of any securities, or any material assets
or businesses, of the Company or any of its subsidiaries, (ii) tender offer or exchange offer, merger, acquisition, share exchange
or other business combination involving any of the voting securities or any of the material assets or businesses of the Company
or any of its subsidiaries; or (c) any recapitalization, restructuring, liquidation, dissolution or other extraordinary transaction
with respect to the Company or any of its subsidiaries or any material portion of its or their businesses; provided, however,
that the members of the Bandera Group and their Affiliates and Associates shall be permitted to (i) sell or tender their shares
of Common Stock, and otherwise receive consideration, pursuant to any such transaction and (ii) vote on any such transaction in
their sole discretion;

 

    3

     

    

 

(g)       enter
into any discussions, negotiations, agreements or understandings with any Third Party (as defined below) with respect to the foregoing,
or encourage or seek to persuade any Third Party to take any action with respect to any of the foregoing, or otherwise take or
cause any action materially inconsistent with any of the foregoing; or

 

(h)       take
any action challenging the validity or enforceability of this Section 3 or this Agreement, or publicly make or in any way advance
publicly any request or proposal that the Company or Board amend, modify or waive any provision of this Agreement.

 

Notwithstanding the foregoing,
nothing in this Section 3 or elsewhere in this Agreement shall be deemed to (i) limit the exercise in good faith by Gramm of his
fiduciary duties solely in his capacity as a director of the Company or (ii) prohibit the members of the Bandera Group from communicating
privately with the Company’s directors, officers and advisors so long as such private communications would not be reasonably
determined to trigger public disclosure obligations for any Party.

 

4.       Public
Statements. Until the Termination Date, neither the Company nor any member of the Bandera Group shall make any public announcement
or statement (including, without limitation, in any filing required under the Exchange Act (as defined below)) concerning the subject
matter of this Agreement that is inconsistent with or contrary to the terms of this Agreement, except as required by law or applicable
stock exchange listing rules or with the prior written consent of the Other Party (as defined below) and otherwise in accordance
with this Agreement.

 

5.       Share
Acquisitions. Until the first anniversary of the date of this Agreement, the Bandera Group shall not acquire, offer or propose
to acquire, or agree to acquire, directly or indirectly, whether by purchase, tender or exchange offer, through the acquisition
of control of another person, by joining a partnership, limited partnership, syndicate or other group (including any group of persons
that would be treated as a single “person” under Section 13(d) of the Exchange Act), through swap or hedging transactions
or otherwise, any voting securities of the Company or any voting rights decoupled from the underlying voting securities of the
Company that would cause the Bandera Group’s percentage ownership to rise above the percentage it owns as of the execution
of this Agreement; provided, however, that any securities of the Company granted or awarded to Gramm in his capacity as
a director of the Company shall not be subject to the restrictions in this Section 5.

 

6.       Compliance
with Securities Laws. Each member of the Bandera Group acknowledges that the U.S. securities laws generally prohibit any person
who has received from an issuer material, non-public information concerning such issuer from purchasing or selling securities of
such issuer or from communicating such information to any other person under circumstances in which it is reasonably foreseeable
that such person is likely to purchase or sell such securities.

 

7.       Affiliates
and Associates. The members of the Bandera Group shall cause their Affiliates and Associates to comply with the terms of this
Agreement and shall be responsible for any breach of this Agreement by any such Affiliate or Associate. A breach of this Agreement
by an Affiliate or Associate of the Bandera Group, if such Affiliate or Associate is not a party to this Agreement, shall be deemed
to occur if such Affiliate or Associate engages in conduct that would constitute a breach of this Agreement if such Affiliate or
Associate was a Party to the same extent as a Party to this Agreement.

 

    4

     

    

 

8.       Representations
and Warranties.

 

(a)       Each
member of the Bandera Group represents and warrants that it has full power and authority to execute, deliver and carry out the
terms and provisions of this Agreement and to consummate the transactions contemplated hereby, and that this Agreement has been
duly and validly executed and delivered by such person or entity, constitutes a valid and binding obligation and agreement of such
person or entity and is enforceable against such person or entity in accordance with its terms. The Bandera Group represents and
warrants that, as of the date of this Agreement, the Bandera Group beneficially owns 258,256 shares of Common Stock and has voting
authority over such shares, and no member of the Bandera Group owns any Synthetic Equity Interests or any Short Interests in the
Company (each as defined below). The members of the Bandera Group represent and warrant that they have not formed, and are not
members of, any group with any other person (other than the members of the group set forth in the Schedule 13D filed or to be filed
by the Bandera Group with the SEC in connection with the Transaction, which members are parties to this Agreement) and do not act
in concert with any other person with respect to the securities of the Company.

 

(b)       The
Company hereby represents and warrants that it has the power and authority to execute, deliver and carry out the terms and provisions
of this Agreement and to consummate the transactions contemplated hereby, and that this Agreement has been duly and validly authorized,
executed and delivered by the Company, constitutes a valid and binding obligation and agreement of the Company and is enforceable
against the Company in accordance with its terms.

 

9.       Termination.

 

(a)       Except
as otherwise expressly set forth herein, this Agreement shall terminate on the earlier of (i) the third anniversary of the date
hereof and (ii) five business days after Timothy Brog is no longer the Company’s Chief Executive Officer (the effective date
of such termination, the “Termination Date”).

 

(b)       Except
as otherwise provided herein, this Agreement shall terminate and shall become null and void on the Termination Date; provided,
that (ii) Sections 10 and 11 shall survive and (ii) no termination shall relieve any Party from liability for any breach of this
Agreement prior to such termination.

 

    5

     

    

 

10.       Notices.
All notices, demands and other communications to be given or delivered under or by reason of the provisions of this Agreement shall
be in writing and shall be deemed to have been given when delivered by hand, with written confirmation of receipt; upon sending
if sent by email to the email addresses below, with electronic confirmation of sending; one day after being sent by a nationally
recognized overnight carrier to the addresses set forth below; or when actually delivered if sent by any other method that results
in delivery, with written confirmation of receipt:

 

	
        If to the Company:

         

        Rubicon Technology, Inc.

        900 East Green Street

        Bensenville, Illinois 60106

        Attn: Chief Executive Officer

        Email: tbrog@rubicontechnology.com

         

	
        If to any member of the Bandera Group:

         

        Bandera Partners LLC

        50 Broad Street, Suite 1820

        New York, New York 10004

        Attn:Jefferson Gramm

        Email: jeff@banderapartners.com

         

        

        With a copy, which will not constitute
        notice, to:

         

        Olshan Frome Wolosky LLP

        1325 Avenue of the Americas

        New York, New York 10019

        Attn: Steve Wolosky

        Email: swolosky@olshanlaw.com

 

11.       Governing
Law; Jurisdiction; Jury Waiver. This Agreement, and any disputes arising out of or related to this Agreement (whether for breach
of contract, tortious conduct or otherwise), shall be governed by, and construed in accordance with, the laws of the State of Delaware,
without giving effect to its conflict of laws principles. The Parties agree that exclusive jurisdiction and venue for any legal
proceeding arising out of or related to this Agreement shall exclusively lie in the Court of Chancery of the State of Delaware
or, if such court does not have subject matter jurisdiction, to the Superior Court of the State of Delaware or, if jurisdiction
is vested exclusively in the Federal courts of the United States, the Federal courts of the United States sitting in the State
of Delaware, and any appellate court from any such state or Federal court. Each Party waives any objection it may now or hereafter
have to the laying of venue of any such legal proceeding, and irrevocably submits to personal jurisdiction in any such court in
any such legal proceeding and hereby further irrevocably and unconditionally waives and agrees not to plead or claim in any court
that any such legal proceeding brought in any such court has been brought in any inconvenient forum. Each Party consents to accept
service of process in any such legal proceeding by service of a copy thereof upon its registered agent in the State of Delaware,
as applicable, or the Secretary of State of the State of Delaware, as applicable, with a copy delivered to it by certified or registered
mail, postage prepaid, return receipt requested, addressed to it at the address set forth in Section 10. Nothing contained herein
shall be deemed to affect the right of any Party to serve process in any manner permitted by law. EACH PARTY HEREBY IRREVOCABLY
WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT.

 

    6

     

    

 

12.       Specific
Performance. Each member of the Bandera Group, on the one hand, and the Company, on the other hand, acknowledges and agrees
that irreparable injury to the Other Party would occur in the event any provision of this Agreement were not performed in accordance
with such provision’s specific terms or were otherwise breached or threatened to be breached and that such injury would not
be adequately compensable by the remedies available at law (including the payment of money damages). It is accordingly agreed that
the Bandera Group, on the one hand, and the Company, on the other hand (each, the “Moving Party”), shall each
be entitled to specific enforcement of, and injunctive relief to prevent any violation of, the terms hereof, and the Other Party
shall not take action, directly or indirectly, in opposition to the Moving Party seeking such relief on the grounds that any other
remedy or relief is available at law or in equity. This Section 12 shall not be the exclusive remedy for any violation of this
Agreement.

 

13.       Legends.
The 221,784 shares of Common Stock purchased pursuant to the Stock Purchase Agreement, all other shares of Common Stock and any
other voting securities of the Company beneficially owned by any member of the Bandera Group (whether or not acquired in connection
with the Transactions) and any shares referenced above which are transferred to a transferee who becomes bound by the terms of
this Agreement, shall, in accordance with Delaware law, and in addition to any other necessary and required legend or legends,
bear a legend stating that such shares are subject to the provisions of this Agreement.

 

14.       Certain
Definitions and Interpretations. As used in this Agreement: (a) the terms “Affiliate” and “Associate”
(and any plurals thereof) have the meanings ascribed to such terms under Rule 12b-2 promulgated by the SEC under the Exchange Act
and shall include all persons or entities that at any time prior to the Termination Date become Affiliates or Associates of any
person or entity referred to in this Agreement; (b) the term “Exchange Act” means the Securities Exchange
Act of 1934, as amended, and the rules and regulations promulgated thereunder; (c) the terms “beneficial ownership,”
“group,” “person,” “proxy,” “participant” and “solicitation”
(and any plurals thereof) have the meanings ascribed to such terms under the Exchange Act; (d) the term “Business Day”
means any day that is not a Saturday, Sunday or other day on which commercial banks in the State of Delaware are authorized or
obligated to be closed by applicable law; (e) the term “Representatives” means a person’s Affiliates and
Associates under its control and its and their respective directors, officers, employees, partners, members, managers, consultants,
legal or other advisors, agents and other representatives; (f) the term “Other Party” means with respect to
the Company, the Bandera Group, and with respect to the Bandera Group, the Company; (g) the term “SEC” means
the U.S. Securities and Exchange Commission; (h) the term “Short Interests” means any agreement, arrangement,
understanding or relationship, including any repurchase or similar so-called “stock borrowing” agreement or arrangement,
engaged in, directly or indirectly, by such person, the purpose or effect of which is to mitigate loss to, reduce the economic
risk (of ownership or otherwise) of shares of any class or series of the Company’s equity securities by, manage the risk
of share price changes for, or increase or decrease the voting power of, such person with respect to the shares of any class or
series of the Company’s equity securities, or which provides, directly or indirectly, the opportunity to profit from any
decrease in the price or value of the shares of any class or series of the Company’s equity securities; (i) the term
“Stockholder Meeting” means each annual or special meeting of stockholders of the Company, or any other meeting
of stockholders held in lieu thereof, and any adjournment, postponement, reschedulings or continuations thereof; (j) the term “Synthetic
Equity Interests” means any derivative, swap or other transaction or series of transactions engaged in, directly or indirectly,
by such person, the purpose or effect of which is to give such person economic risk similar to ownership of equity securities of
any class or series of the Company, including due to the fact that the value of such derivative, swap or other transactions are
determined by reference to the price, value or volatility of any shares of any class or series of the Company’s equity securities,
or which derivative, swap or other transactions provide, directly or indirectly, the opportunity to profit from any increase in
the price or value of shares of any class or series of the Company’s equity securities, without regard to whether (i) the
derivative, swap or other transactions convey any voting rights in such equity securities to such person; (ii) the derivative,
swap or other transactions are required to be, or are capable of being, settled through delivery of such equity securities; or
(iii) such person may have entered into other transactions that hedge or mitigate the economic effect of such derivative, swap
or other transactions; and (k) the term “Third Party” refers to any person that is not a Party, a member of
the Board, a director or officer of the Company, or legal counsel to any Party. In this Agreement, unless a clear contrary intention
appears, (i) the word “including” (in its various forms) means “including, without limitation;” (ii) the
words “hereunder,” “hereof,” “hereto” and words of similar import are references in this Agreement
as a whole and not to any particular provision of this Agreement; (iii) the word “or” is not exclusive; (iv) references
to “Sections” in this Agreement are references to Sections of this Agreement unless otherwise indicated; and (v) whenever
the context requires, the masculine gender shall include the feminine and neuter genders.

 

    7

     

    

 

15.       Miscellaneous.

 

(a)       This
Agreement contains the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the
Parties with respect to the subject matter hereof and thereof.

 

(b)       This
Agreement is solely for the benefit of the Parties and is not enforceable by any other persons.

 

(c)       This
Agreement shall not be assignable by operation of law or otherwise by a Party without the consent of the Other Party. Any purported
assignment without such consent is void.  Subject to the foregoing sentence, this Agreement shall be binding upon, inure
to the benefit of, and be enforceable by and against the permitted successors and assigns of each Party.

 

(d)       Neither
the failure nor any delay by a Party in exercising any right, power or privilege under this Agreement shall operate as a waiver
thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any
right, power or privilege hereunder.

 

(e)       If
any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, void
or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force
and effect and shall in no way be affected, impaired or invalidated. It is hereby stipulated and declared to be the intention of
the Parties that the Parties would have executed the remaining terms, provisions, covenants and restrictions without including
any of such which may be hereafter declared invalid, void or unenforceable. In addition, the Parties agree to use their reasonable
best efforts to agree upon and substitute a valid and enforceable term, provision, covenant or restriction for any of such that
is held invalid, void or unenforceable by a court of competent jurisdiction.

 

(f)       Each
member of the Bandera Group hereby appoints Bandera Partners as its representative for all matters related to this Agreement, including
service of process, notices and amendments. Any action taken by Bandera Partners hereunder shall be binding on each member of the
Bandera Group and the Company shall be entitled to rely on any instruction or action of Bandera Partners on behalf of the Bandera
Group or any member thereof.

 

(g)       Any
amendment or modification of the terms and conditions set forth herein or any waiver of such terms and conditions must be agreed
to in a writing signed by the Company and Bandera Partners.

 

(h)       This
Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same agreement. Signatures to this Agreement transmitted by facsimile transmission, by electronic mail in “portable
document format” (“.pdf”) form, or by any other electronic means intended to preserve the original graphic and
pictorial appearance of a document, shall have the same effect as physical delivery of the paper document bearing the original
signature.

 

[Signature Pages Follow]

 

    8

     

    

 

IN WITNESS WHEREOF,
each of the Parties has executed this Agreement, or caused the same to be executed by its duly authorized representative, as of
the date first above written.

 

	 	RUBICON TECHNOLOGY, INC.
	 	 	 
	 	By:	/s/ Timothy E. Brog
	 	 	Name: Timothy E. Brog
	 	 	Title: President and Chief Executive Officer

 

	 	Bandera Master Fund L.P.
	 	 
	 	By:	
        Bandera Partners LLC

        its Investment Manager

	 	 	 
	 	By:	
/s/ Jefferson Gramm
	 	 	Name:  	Jefferson Gramm
	 	 	Title:	Managing Director

 

	 	Bandera Partners LLC
	 	 
	 	By:	
/s/ Jefferson Gramm
	 	 	Name:  	Jefferson Gramm
	 	 	Title:	Managing Director

 

	 	
/s/ Gregory Bylinsky
	 	Gregory Bylinsky

 

	 	
/s/ Jefferson Gramm
	 	Jefferson Gramm

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