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<SEC-DOCUMENT>0001104659-07-069752.txt : 20070918
<SEC-HEADER>0001104659-07-069752.hdr.sgml : 20070918
<ACCEPTANCE-DATETIME>20070918162312
ACCESSION NUMBER:		0001104659-07-069752
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		6
CONFORMED PERIOD OF REPORT:	20070918
ITEM INFORMATION:		Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20070918
DATE AS OF CHANGE:		20070918

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NETLIST INC
		CENTRAL INDEX KEY:			0001282631
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				954812784
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33170
		FILM NUMBER:		071122701

	MAIL ADDRESS:	
		STREET 1:		475 GODDARD
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92618
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a07-24127_18k.htm
<DESCRIPTION>8-K
<TEXT>
<html>

<head>






</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">
 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><a name="scotch"></a><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
</font></b><font size="2" style="font-size:10.0pt;">Washington, D.C.
20549</font></p>

<div style="line-height:9.0pt;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><hr size="1" width="160" noshade color="black" align="center" style="width:120.0pt;"></div>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">Form 8-K</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">CURRENT
REPORT</font></b></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934</font></b></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event reported):&#160; <b>September 18, 2007</b></font></p>

<p style="font-weight:bold;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">Netlist, Inc.</font></b></p>

<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="36%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:36.28%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>Delaware</b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="30%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:30.7%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">001-33170</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.18%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.58%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">95-4812784</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="36%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:36.28%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction<br>
  of incorporation)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="30%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:30.7%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission<br>
  File Number)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.18%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.58%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer<br>
  Identification No.)</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="69%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.04%;">
  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><!-- SET mrlNoTableShading --><b>51 Discovery, Irvine, California</b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.58%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">92618</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="69%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:69.04%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of
  principal executive offices)</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="28%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:28.58%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
  </td>
 </tr>
</table>

<p style="margin:10.0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number, including area
code:&#160; <b>(949)
435-0025</b></font></p>

<p align="left" style="margin:10.0pt 0pt 12.0pt;page-break-after:avoid;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><font face="Wingdings">o</font></p>
  </td>
  <td width="0%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="97%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:97.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Written communications pursuant to Rule 425 under
  the Securities Act (17 CFR 230.425)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="97%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:97.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="0%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="97%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:97.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Soliciting material pursuant to Rule 14a-12 under
  the Exchange Act (17 CFR 240.14a-12)</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="97%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:97.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="0%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="97%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:97.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement communications pursuant to Rule
  14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="0%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="97%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:97.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.26%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font></p>
  </td>
  <td width="0%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="97%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:97.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pre-commencement
  communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
  240.13e-4(c))</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p> </div>
</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<div>


<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.02.&#160;&#160;&#160;&#160; Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On September 18, 2007,
Netlist, Inc. (the &#147;Company&#148;) issued a press release announcing that Nita
Moritz has joined the Company as Vice President and Chief Financial Officer,
effective September 10, 2007. Since June 2006, Ms. Moritz, age 48, has served
as Vice President Commercial Services of California-based JHBP Inc., a
subsidiary of Amsterdam-based James Hardie Industries N.V., a publicly traded
global manufacturer of building materials.&#160;
In that role she led that company&#146;s global IT division and
Sarbanes-Oxley 404 compliance effort. From March 2005 through June 2006, she
served as Group Treasurer and Managing Director of James Hardie International
Finance B.V. where she had oversight of the finance functions of all
international business units and was head of Group IT. Prior to that, Moritz
spent five years as the Chief Financial Officer of James Hardie Building
Products, Inc. where she was responsible for overseeing finance and Group IT.
The press release is attached hereto as Exhibit 99.1 to this Current Report on
Form 8-K and is incorporated herein in its entirety.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to an offer
letter dated August 16, 2007 (the &#147;Offer Letter&#148;), Ms. Moritz will receive an
annualized base salary of $240,000. She is eligible for a target bonus under an
MBO Plan of up to 50% of her annual base salary subject to the achievement of
specific objectives. These objectives and the other terms of that MBO Plan have
not yet been determined. Pursuant to the Offer Letter, as an inducement
material to Moritz entering into her employment, on September 17, 2007 the
Company granted to her an option to purchase up to 200,000 shares of its common
stock at a per-share exercise price equal to the fair market value of a share
of such stock on the grant date. Subject to her continued employment, that
option will vest with respect to 25% of underlying shares&#160; on the first anniversary of the grant date
and the remainder of the option will vest in 36 equal monthly installments
after the first anniversary.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The Offer Letter also
provides that Ms. Moritz and the Company may terminate her employment at any
time with 30 days written notice. If her employment is terminated by the
Company without cause after 90 days continuous employment, other than as a
result of death or disability, the Company will pay severance equal to 6 months&#146;&#160; base salary plus&#160; 1 additional month for each year of employment
with the Company up to a maximum of 12 months, conditioned on the signing of a
release and&#160; continued compliance with
the Company&#146;s Proprietary Information and Invention Assignment Agreement.
Additionally, if immediately following a change of control of the Company her
title is not Chief Financial Officer or SVP/VP Finance or her duties do not
reflect those duties normally associated with the duties of Chief Financial
Officer or SVPNP Finance, she can voluntarily resign after 90 days following
the change of control and still be entitled to receive the severance payment
noted above.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The foregoing summary is
qualified in its entirety by reference to the Offer Letter, a copy of which is
attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated
herein by reference.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">2</font></p> <br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">We also intend to enter
into our standard form of indemnity agreement with Ms. Moritz.&#160; The form of indemnity agreement is filed as
Exhibit 10.12 to our registration statement on Form S-1 (333-136735) filed with
the Securities and Exchange Commission on August 18, 2006.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 901.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Financial Statements and Exhibits</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">d)&#160; Exhibits</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --><b><font size="1" style="font-size:8.0pt;font-weight:bold;">Exhibit</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.14%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="60%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:60.2%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:27.42%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.14%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="87%" colspan="2" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:87.62%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.14%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="60%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:60.2%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:27.42%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="60%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:60.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Offer Letter dated August 16, 2007.</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:27.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.24%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="60%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:60.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release, dated September 18, 2007.</font></p>
  </td>
  <td width="27%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:27.42%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">3</font></p>
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<p style="margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr style="page-break-inside:avoid;">
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  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Date: September 18, 2007</p>
  </td>
  <td width="47%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">NETLIST, INC.</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt 0pt .7pt 0pt 0pt;width:52.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt 0pt .7pt 0pt 0pt;width:47.46%;">
  <p style="margin:0pt 0pt .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;</font></i></p>
  </td>
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  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt 0pt .7pt 0pt 0pt;width:52.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt 0pt .7pt 0pt 0pt;width:47.46%;">
  <p style="margin:0pt 0pt .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">&nbsp;</font></i></p>
  </td>
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  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="27%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:27.88%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/Gail Itow</font></p>
  </td>
  <td width="19%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:19.6%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
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  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Gail Itow</font></p>
  </td>
 </tr>
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  <td width="52%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.54%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.46%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President and Secretary</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">4</font></p>
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<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
10.1</font></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman"><img width="90" height="90" src="g241271kai001.jpg"></font></p>

<p style="margin:0pt 0pt 12.0pt .5pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">August
16, 2007</font></p>

<p style="margin:0pt 0pt .0001pt .5pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nita Moritz</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt .5pt;text-autospace:none;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">3</font>&#160; </font>Flax
Court</p>

<p style="margin:0pt 0pt 12.0pt .95pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Coto
De Caza, California &#160;92679</font></p>

<p style="margin:0pt 0pt 12.0pt .95pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dear
Nita:</font></p>

<p style="margin:0pt 0pt 12.0pt 1.9pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I enjoyed discussing the opportunity for having you
join Netlist, Inc., a Delaware corporation (&#147;Netlist&#148; or the &#147;Company&#148;). Your
talent and experience will be a valuable asset to Netlist. It is my pleasure to
extend you the following offer for the position of Chief Financial Officer,
subject to the approval of the Board of Directors of the Company (the &#147;Board&#148;).
&#160;This offer is subject to successful
completion of our application for employment process and satisfactory
background and reference checks.</font></p>

<p style="margin:0pt 3.2pt 12.0pt 2.4pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As the Chief Financial Officer, you will be
reporting directly to me or my designee. Your job duties and responsibilities
in this position will include, but not be limited to, the duties outlined in
the job specification and such other duties as may be assigned to you by the
Company. You shall devote your full business time, attention, skill and best
efforts to the performance of your duties and responsibilities and you shall
not engage in any other business or occupation while employed by the Company.</font></p>

<p style="margin:0pt 13.9pt 12.0pt 2.9pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You will be compensated at a
monthly rate of $20,000.00, annualized to $240,000.00, payable in accordance
with the Company&#146;s normal payroll practices and subject to all required
withholdings. Your scheduled start date will be September 10, 2007.</font></p>

<p style="margin:0pt .65pt 12.0pt 3.35pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You will also be eligible to participate in a MBO
plan with a target payout of up to a maximum of $120,000.00 for a total
compensation potential of up to $360,000.00 annually. A formal document
regarding the MBO plan will follow under separate cover.</font></p>

<p style="margin:0pt 0pt 12.0pt 3.85pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Your compensation also includes the option to
purchase 200,000 shares of common stock of Netlist, Inc., subject to approval
by the compensation committee of the Board. Details of your option grant
including the exercise price and vesting will be covered under a separate stock
option agreement.</font></p>

<p style="margin:0pt 18.65pt 12.0pt 4.3pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">When you are required to
travel internationally for business, you may travel business class. &#160;The Company will pay reasonable and customary
expenses associated with you maintaining your Certified Public Accountant (CPA)
license.</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt 9.05pt;text-align:center;text-autospace:none;text-indent:-9.05pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">51
Discovery, Suite 150 &#149; Irvine, California 92618 <br>
Phone: (949) 435-0025 &#149; Fax: (949) 435-0031</font></p>

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<p style="margin:0pt 0pt 12.0pt .5pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In addition to the above, Netlist offers a full
range of benefits for you and your eligible dependents. &#160;Your eligibility to participate in Netlist&#146;s
insurance plans will be effective the first of the month following 30 days of
continuous employment. You will also be eligible for other benefits, including
paid holidays, personal time off (&#147;PTO&#148;), and other benefits currently
available to employees of Netlist. The terms of your benefits and any
applicable waiting period(s) are governed by the plan documents and Netlist&#146;s
policy.</font></p>

<p style="margin:0pt 0pt 12.0pt .5pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">You and the Company may terminate your employment at
any time with 30 days written notice. &#160;After
you have been continuously employed for ninety (90) days, if your employment
terminates other than: &#160;(1) by your
voluntary resignation; (2) by the Company for Cause (as defined below); or (3)
by reason of the your death or &#147;Disability&#148; (as defined below), the Company
will pay you a payment equal to six (6) months&#146; of your then current base
salary plus one (1) additional month for each year of employment with Netlist
up to a maximum of 12 months of your then current base salary (&#147;Severance
Payment&#148;). &#160;Any Severance Payment will be
conditioned on you signing a release of all claims against the Company and your
continued compliance with the Company&#146;s Proprietary Information and Invention
Assignment Agreement.</font></p>

<p style="margin:0pt 0pt 12.0pt 1.45pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Additionally, after you have been continuously
employed for ninety (90) days, if your employment is terminated without Cause
as a result of, and within six (6) months of a Change of Control (as defined
below), you will be entitled to a Severance Payment. If immediately following a
Change of Control your title is not Chief Financial Officer or SVP/VP Finance
or your duties do not reflect those duties normally associated with the duties
of Chief Financial Officer or SVPNP Finance you can voluntarily resign after ninety
(90) days following the Change of Control and still be entitled to receive a
Severance Payment.</font></p>

<p style="margin:0pt 0pt 12.0pt 2.4pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Your employment will terminate immediately upon your
death or Disability. You will not be entitled to any Severance Payment.</font></p>

<p style="margin:0pt 0pt 12.0pt 3.35pt;text-autospace:none;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For purposes of your employment, the term &#147;Cause&#148;
means (1) failing to substantially perform your duties or responsibilities; (2)
conviction of a felony or misdemeanor involving moral turpitude,
misappropriation or any funds or property of the Company, commission of fraud
or embezzlement with respect to the Company, falsification of the Company or
customer documents or any act or acts of dishonesty involving the property or
affairs of the Company or the carrying out of your duties;<br>
(3) failing to perform your obligations or carry out your duties to the Company
competently due to the use of alcohol or drugs that renders you unable to
perform the essential functions of his job; (4) breaching any fiduciary duty to
the Company or violating any other contractual (including any breach of the Company&#146;s
Proprietary Information and Invention Assignment Agreement), statutory, common
law or other legal duty to the Company or its stockholders; (5) making any
personal profit arising out of or in connection with any transaction to which
the Company is a party without disclosure to or obtaining prior written consent
of the Company;<br>
(6) committing any act or omission of a nature involving malfeasance or
negligence in the performance of your duties to the Company that is likely to
cause an adverse effect on the business of the Company; (7)</font></p>

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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">materially deviating from
the written policies or directives of the Company, as communicated by its Chief
Executive Officer or Board of Directors, in such a manner as would reasonably
be expected to constitutes grounds for termination of an employee in a position
similar to yours; provided that, with respect to (1), (6) or (7) above, the
Company shall have first provided you with written notice stating with
specificity the acts, duties or directives you have failed to observe or
perform, and you shall not have, in the reasonable opinion of the Company,
corrected the acts or omissions complained of within fifteen (15) calendar days
following delivery of such notice.</font></p>

<p style="margin:0pt 0pt 12.0pt 36.95pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For purposes of your employment, the term &#147;Change of Control&#148; means:</font></p>

<p style="margin:0pt 0pt 12.0pt .95pt;text-autospace:none;text-indent:72.95pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(i)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Where any party, other than the current majority
shareholder of the Company, becomes the &#147;beneficial owner&#148; (as defined in Rule
13d-3 promulgated under the Securities Exchange Act of 1934), directly or
indirectly, of 50% or more of (A) the Company&#146;s common stock, on a fully
diluted basis, or (B) the combined voting power of the Company&#146;s common stock,
on a fully diluted basis; or</font></p>

<p style="margin:0pt 2.1pt 12.0pt 1.9pt;text-autospace:none;text-indent:72.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(ii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Company is party to a merger or consolidation which
results in the holders of voting securities of the Company outstanding
immediately prior thereto failing to continue to represent (either by remaining
outstanding or by being converted into voting securities of the surviving
entity) at least 51% of the combined voting power of the voting securities of
the Company or such surviving entity outstanding immediately after such merger
or consolidation; or</font></p>

<p style="margin:0pt 0pt 12.0pt 75.35pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(iii)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The
sale of all, or substantially all, of the assets of the Company.</font></p>

<p style="margin:0pt 4.3pt 12.0pt 2.4pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For purposes of your employment, the term &#147;Disability&#148;
means your failure, due to a physical or mental disability, despite reasonable
accommodation made by the Company, if applicable, for a period of ninety (90)
nonconsecutive days, during any consecutive twelve-month period, to
substantially perform your duties and responsibilities, except as prohibited by
law.</font></p>

<p style="margin:0pt 0pt 12.0pt 3.35pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject to your consent, if any payment otherwise
due hereunder would be, when otherwise due, subject to additional taxes and
interest under Section 409A of the Internal Revenue Code of 1986, as amended,
then such payment shall be deferred to the extent required to avoid such
additional taxes and interest.</font></p>

<p style="margin:0pt 5.5pt 12.0pt 3.35pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In order to ensure that the rights of your past
employers are not violated; we ask that you do not bring with you any documents
or information that is confidential or proprietary to your former employers.
You also agree that during the period of your employment with Netlist you will
not, without the written consent of Netlist engage in any employment or
business activity other than for Netlist.</font></p>

<p style="margin:0pt 0pt 12.0pt 3.85pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A more detailed overview of Netlist&#146;s policies,
procedures and benefits will be provided to you during a new employee
orientation session. You will be asked to acknowledge your receipt of the
information and your agreement to comply with Netlist&#146;s policies and
procedures. &#160;As a condition of employment
you will also be required to sign</font></p>

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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">the Company&#146;s standard
Proprietary Information and Invention Assignment Agreement and the Company&#146;s
Agreement to Arbitrate. As a condition of employment, you will also be required
to provide proof of your legal ability to work in the United States.</font></p>

<p style="margin:0pt 4.55pt 12.0pt .5pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This offer sets forth the
terms of employment with us and supersedes any prior representations or
agreements, whether written or oral. A duplicate original of this offer is
enclosed for your records.</font></p>

<p style="margin:0pt 0pt 12.0pt .95pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Enclosed are two copies of this offer. Please sign
and return one copy of the letter and the acknowledgement below stating that
you are able to accept this position to Mark Rutherford, via confidential fax
at 949-218-4608. This offer is valid until August 24, 2007, unless earlier
withdrawn.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
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  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading --></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.86%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Sincerely,</p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="57%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:57.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" style="padding:0pt .7pt 0pt 0pt;width:42.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman"><img width="222" height="41" src="g241271kai002.jpg"></font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="57%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:57.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">C.K. Hong</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="57%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:57.14%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:42.86%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I have read and accept this
employment offer.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="31%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:31.04%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:18.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="47%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.44%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Nita Moritz</p>
  </td>
  <td width="52%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date</font></p>
  </td>
 </tr>
</table>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I hereby represent, warrant
and agree that I am free to accept this employment offer and to perform the job
duties of Chief Financial Officer. I represent, warrant and agree that I am not
bound by any restriction or covenant from any prior employer or other
obligation that would interfere with my ability to perform the job duties of
Chief Financial Officer at Netlist. I also represent, warrant and agree that I
have returned all documents to my prior employers and that I will not utilize
any trade secrets or proprietary information obtained from prior employers in
connection with my employment.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="31%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:31.04%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:18.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="47%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.44%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Nita Moritz</p>
  </td>
  <td width="52%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.56%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt .95pt;text-autospace:none;text-indent:36.5pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">I further agree to defend, indemnify, and hold
Netlist, each of its assigns, affiliates and their predecessor and successor
organizations, and their shareholders, partners, officers, directors, owners,
employees, agents, representatives and affiliates, harmless from and against
any loss, liability, obligation, action, claims, demands or other expenses of
any nature whatsoever, relating to, in connection with or arising out of my
prior employment.</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr style="page-break-inside:avoid;">
  <td width="31%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:31.04%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="16%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:16.4%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="34%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:34.36%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:18.2%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr style="page-break-inside:avoid;">
  <td width="47%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.44%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"><!-- SET mrlNoTableShading -->Nita Moritz</p>
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  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date</font></p>
  </td>
 </tr>
</table>

<p style="line-height:1.0pt;margin:0pt 0pt 12.0pt;"><font size="1" face="Times New Roman">&nbsp;</font></p>

</div><br><hr size="3" width="100%" noshade color="#010101" align="center">

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<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a07-24127_1ex99d1.htm
<DESCRIPTION>EX-99.1
<TEXT>
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<body lang="EN-US">

<div>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
99.1</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman"><img width="164" height="99" src="g241271mmi001.jpg"></font></p>

<p style="margin:0pt 0pt .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">NEWS RELEASE for September 18, 2007 at 6:00 AM EDT</font></u></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contact: Allen &amp; Caron Inc</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Jill Bertotti (investors)</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">jill@allencaron.com</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Len Hall (media)</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">len@allencaron.com</font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(949) 474-4300</font></p>

<h4 align="center" style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NETLIST NAMES NITA MORITZ CHIEF FINANCIAL OFFICER</font></b></h4>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">IRVINE, CA (September 18, 2007) . . . Netlist, Inc. (Nasdaq:
NLST) announced today that veteran financial executive Nita Moritz joined
Netlist as Chief Financial Officer on September 10, 2007. She replaces former
Chief Financial Officer Lee Kim and will report directly to Chief Executive
Officer Chuck Hong.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Moritz, 48, a resident of Coto de Caza, CA, is the
former Vice President Commercial Services for California-based JHBP Inc, a
subsidiary of Amsterdam-based James Hardie Industries N.V., a $1.5 billion
global manufacturer of building materials publicly listed in Australia and on
the NYSE. In that role she led the global IT division and the Sarbanes-Oxley
404 compliance effort.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Overall, Moritz spent nine years working for James
Hardie in various capacities including Group Treasurer and Managing Director of
James Hardie International Finance B.V. where she had oversight of the finance
functions of all international business units and was head of Group IT. Prior
to this, Moritz spent five years as the Chief Financial Officer of James Hardie
Building Products, Inc. where she was responsible for overseeing finance and Group
IT.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Hong noted that Moritz&#146;s wide-ranging expertise in the
financial aspects of global manufacturing and procurement operations as well as
her experience in the public company regulatory environment will be important
assets for Netlist.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Nita&#146;s corporate and international financial
background and her experience working for a public company with a global reach
will be very valuable to Netlist,&#148; Hong said. &#147;We are very excited to have her
as a member of our senior management team.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Prior to working with JHBP Inc., Moritz was Manager Network
Finance for Sprint PCS, California. She is also a former Principal Auditor&#151;International
Operations for The Coca-Cola Company. Early in her career she spent three years
as an Audit Supervisor with PricewaterhouseCoopers.</font></p>

<br><hr size="3" width="100%" noshade color="#010101" align="center">

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<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Moritz has an MBA and bachelor&#146;s degrees in accounting
and finance, all from California State University, Long Beach, and is a
certified public accountant in California.</font></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As an inducement material to Moritz entering into
employment with Netlist, Netlist granted to her an option to purchase up to
200,000 shares of its common stock at a per-share exercise price equal to the
fair market value of a share of such stock on the grant date.</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt .0001pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About Netlist, Inc</font></u>.</b></p>

<p style="margin:0pt 0pt 12.0pt;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Netlist designs and manufactures high-performance
memory subsystems for the server and high- performance computing and
communications markets.&#160; The Company&#146;s
memory subsystems are developed for applications in which high-speed,
high-capacity memory, functionality, small form factor, and heat dissipation
are key requirements.&#160; These applications
include tower-servers, rack-mounted servers, blade servers, high-performance
computing clusters, engineering workstations, and telecommunication
equipment.&#160; Netlist maintains its
headquarters in Irvine, California with manufacturing facilities in Irvine and
in Suzhou, China.</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"># # # #</font></p>

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-----END PRIVACY-ENHANCED MESSAGE-----
