SEC Contract Filing

Filing Date: 2024-08-23

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2422524d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit 10.1</B>&nbsp;</FONT></P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>GSI
TECHNOLOGY,&nbsp;INC.<BR>
AMENDED AND RESTATED EXECUTIVE RETENTION AND<BR>
SEVERANCE PLAN</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>1.</B></FONT><B><FONT STYLE="font-variant: small-caps">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Establishment
and Purpose of Plan</U></FONT></FONT></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.1</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><B>Establishment.</B>
The GSI Technology,&nbsp;Inc. Executive Retention and Severance Plan (the <I>&ldquo;<B>Plan</B>&rdquo;</I>) was originally established
by the Compensation Committee of the Board of Directors of GSI Technology,&nbsp;Inc., effective September&nbsp;30, 2014. The Plan is hereby
amended and restated in its entirety effective as of August&nbsp;22, 2024 (the <I>&ldquo;<B>Effective Date</B>&rdquo;</I>).</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.2</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><B>Purpose.</B>
The Company draws upon the knowledge, experience and advice of its executive officers and key employees in order to manage its business
for the benefit of the Company&rsquo;s stockholders. Due to the widespread awareness of the possibility of mergers, acquisitions and other
strategic alliances in the Company&rsquo;s industry, the topics of compensation and other employee benefits in the event of a Change in
Control are issues in competitive recruitment and retention efforts. The Committee recognizes that the possibility or pending occurrence
of a Change in Control could lead to uncertainty regarding the consequences of such an event and could adversely affect the Company&rsquo;s
ability to attract, retain and motivate present and future executive officers and key employees. The Committee has therefore determined
that it is in the best interests of the Company and its stockholders to provide for the continued dedication of its executive officers
and key employees notwithstanding the possibility or occurrence of a Change in Control by establishing this Plan to provide its Participants
with specified compensation and benefits in the event of a termination of employment under circumstances specified herein.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>2.</B></FONT><B><FONT STYLE="font-variant: small-caps">&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt"><U>Definitions
and Construction</U></FONT></FONT></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.1</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt"><B>Definitions.</B>
Whenever used in this Plan, the following terms shall have the meanings set forth below:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&nbsp;<FONT STYLE="font-size: 10pt"><I>&ldquo;<B>Base
Salary Rate</B>&rdquo;</I> means the greater of:</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT>&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;<FONT STYLE="font-size: 10pt">the
Participant&rsquo;s monthly base salary rate in effect immediately prior to the Participant&rsquo;s termination of employment (without
giving effect to any reduction in the Participant&rsquo;s base salary rate constituting Good Reason); or</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in"><FONT STYLE="font-fa