Separation Agreement and Release (December 16th, 2014)
This Separation Agreement and Release ("Agreement") is made by and between Brian Sprague ("Employee") and MaxLinear, Inc. (the "Company") (collectively referred to as the "Parties" or individually referred to as a "Party").
MAXLINEAR, INC. 2051 Palomar Airport Road, Suite 100 Carlsbad, California 92011 (July 28th, 2011)
I am very pleased to offer you a position with MaxLinear, Inc. (the Company), as Vice President and General Manager, reporting to the Chief Executive Officer. We are offering you an annual base salary of $230,000, a target bonus of thirty percent (30%) of your annual base salary pursuant to the Companys 2011 Executive Incentive Bonus Plan (the 2011 Bonus Plan), an option to purchase 137,500 shares of the Companys Class A common stock pursuant to the Companys 2010 Equity Incentive Plan (the Equity Plan), an award of 68,750 restricted stock units pursuant to the Equity Plan, and severance and termination protection benefits in connection with a change in control agreement, all as further set forth below.