<SEC-DOCUMENT>0001193125-17-230322.txt : 20170718
<SEC-HEADER>0001193125-17-230322.hdr.sgml : 20170718
<ACCEPTANCE-DATETIME>20170718161956
ACCESSION NUMBER:		0001193125-17-230322
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170714
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170718
DATE AS OF CHANGE:		20170718

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RAMBUS INC
		CENTRAL INDEX KEY:			0000917273
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				943112828
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22339
		FILM NUMBER:		17969726

	BUSINESS ADDRESS:	
		STREET 1:		1050 ENTERPRISE WAY, SUITE 700
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
		BUSINESS PHONE:		408-462-8000

	MAIL ADDRESS:	
		STREET 1:		1050 ENTERPRISE WAY, SUITE 700
		CITY:			SUNNYVALE
		STATE:			CA
		ZIP:			94089
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d424350d8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C.&nbsp;20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>of the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported) </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>July 14, 2017 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>Rambus Inc.
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of registrant as specified in its charter) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">000-22339</FONT></B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B><FONT STYLE="white-space:nowrap">94-3112828</FONT></B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or other jurisdiction</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of incorporation)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I. R. S.&nbsp;Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification No.)</B></P></TD></TR>
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<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" COLSPAN="3" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1050 Enterprise Way, Suite 700</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Sunnyvale, California</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>94089</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" COLSPAN="3" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(ZIP Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(408) <FONT STYLE="white-space:nowrap">462-8000</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Not Applicable </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Former
name or former address, if changed since last report) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below
if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to <FONT STYLE="white-space:nowrap">Rule&nbsp;14a-12</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to <FONT STYLE="white-space:nowrap">Rule&nbsp;14d-2(b)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to <FONT STYLE="white-space:nowrap">Rule&nbsp;13e-4(c)</FONT> under the Exchange Act (17 CFR
<FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as
defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 (17 CFR <FONT STYLE="white-space:nowrap">&#167;240.12b-2).</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an
emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Item&nbsp;5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>CEO Employment Agreement </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">On July&nbsp;17, 2017, in connection with the expiration of the five-year term of Dr.&nbsp;Ronald Black&#146;s employment agreement with Rambus
Inc. (&#147;Rambus&#148; or the &#147;Company&#148;), the Company entered into a new employment agreement (the &#147;Agreement&#148;) with Dr.&nbsp;Black, which sets forth the terms and provisions governing Dr.&nbsp;Black&#146;s continued employment
as President and Chief Executive Officer of the Company. The Agreement is effective June&nbsp;26, 2017 (the &#147;Effective Date&#148;).&nbsp;The following summary is qualified in its entirety by reference to the full text of the Agreement which is
attached hereto as Exhibit&nbsp;10.1 and is incorporated by reference. The Agreement was approved by both the independent members of the Company&#146;s Board of Directors (the &#147;Board&#148;) and the Compensation Committee of the Board (the
&#147;Compensation Committee&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I><U>Term</U></I><U> </U><I><U>of</U></I><U> </U><I><U>Agreement</U></I>. The Agreement will
commence on the Effective Date and will remain in effect through June&nbsp;26, 2022, subject to certain extensions in connection with a &#147;Change of Control&#148; of the Company or certain terminations of employment. The Agreement may be
terminated at any time by either party with or without cause. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I><U>Salary</U></I>. The Agreement sets Dr.&nbsp;Black&#146;s annual
salary at $555,000. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I><U>Annual</U></I><U> </U><I><U>Incentive</U></I>.&nbsp;The Agreement provides that Dr.&nbsp;Black will be eligible
to receive an annual incentive with a target bonus at least equal to 100% of his base salary and a maximum bonus equal to at least 200% of his base salary, subject to the achievement of performance goals established by the Compensation Committee
following consultation with Dr.&nbsp;Black. For fiscal year 2017, Dr.&nbsp;Black&#146;s target bonus will equal 130% of his base salary with a maximum bonus equal to 260% of his base salary, and his target and maximum bonuses for future fiscal years
will be established by the Compensation Committee in those future periods. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I><U>Equity</U></I><U>
</U><I><U>Awards</U></I>.&nbsp;Dr.&nbsp;Black will be eligible to receive equity awards as determined by the Compensation Committee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I><U>Employee</U></I><U> </U><I><U>Benefits</U></I><U> </U><I><U>and</U></I><U> </U><I><U>Relocation</U></I>.&nbsp;Dr.&nbsp;Black will be
eligible to participate in the Company&#146;s benefits plans, policies and arrangements applicable to other executive officers of the Company. The Company will reimburse Dr.&nbsp;Black for reasonable expenses in connection with the relocation of his
European residence in support of the Company&#146;s long term tax strategy, not to exceed $200,000 in the aggregate. Further, the Company will reimburse Dr.&nbsp;Black up to $15,000 for his reasonable attorneys&#146; fees incurred in the
negotiation, preparation and execution of the Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I><U>Severance</U></I>.&nbsp;In the event the Company terminates
Dr.&nbsp;Black&#146;s employment with the Company without &#147;Cause&#148; and such termination does not occur within the three months prior to or 12 months following a Change of Control, Dr.&nbsp;Black will receive: (i)&nbsp;continued payment
(over 12 months) of one year of base salary and 100% of his target bonus, (ii)&nbsp;a monthly $3,000 payment (in lieu of continued employee benefits) for a period of 12 months, and (iii)&nbsp;12 months additional vesting of all equity awards with a
service based component (excluding awards with a performance-based component if the performance metric has not been achieved by the termination date).&nbsp;In the event the Company terminates Dr.&nbsp;Black&#146;s employment with the Company without
&#147;Cause&#148; or Dr.&nbsp;Black voluntarily terminates his employment for &#147;Good Reason&#148;, and in either event, such termination occurs within three months prior to or 12 months following a Change of Control, Dr.&nbsp;Black will receive:
(i)&nbsp;continued payment (over 12 months) of 18 months of base salary and 150% of his target bonus, (ii)&nbsp;a monthly $3,000 payment (in lieu of continued employee benefits) for a period of 18 months, and (iii)&nbsp;100% vesting of all equity
awards with a service based component (excluding awards with a performance-based component if the performance metric has not been achieved by the termination date). If Dr.&nbsp;Black&#146;s employment is terminated due to his death or
&#147;Disability&#148;, Dr.&nbsp;Black (or his estate) will receive a <FONT STYLE="white-space:nowrap">pro-rated</FONT> annual bonus (determined at the time bonuses are paid to other executives) and any accrued but unpaid benefits. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The severance payments and other benefits will be subject to Dr.&nbsp;Black (or his estate, as
applicable) entering into (and not revoking) a release of claims agreement against the Company and Dr.&nbsp;Black&#146;s continued compliance with certain <FONT STYLE="white-space:nowrap">non-compete,</FONT>
<FONT STYLE="white-space:nowrap">non-solicit,</FONT> and <FONT STYLE="white-space:nowrap">non-disparagement</FONT> provisions contained in the Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><I><U>Excise</U></I><U> </U><I><U>Tax</U></I>.&nbsp;In the event that the severance payments and other benefits payable to Dr.&nbsp;Black
constitute &#147;parachute payments&#148; under Section&nbsp;280G of the U.S. tax code and would be subject to the&nbsp;applicable excise tax, then Dr.&nbsp;Black&#146;s severance and other benefits will be either: (i)&nbsp;delivered in full, or
(ii)&nbsp;delivered to such lesser extent which would result in no portion of such benefits being subject to the excise tax, whichever results in the receipt by Dr.&nbsp;Black on an <FONT STYLE="white-space:nowrap">after-tax</FONT> basis of the
greatest amount of benefits. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>CEO Retention Equity Award </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">As part of its current compensation program and consistent with the Company&#146;s equity award grant policy, on August&nbsp;1, 2017,
Dr.&nbsp;Black will be granted a <FONT STYLE="white-space:nowrap">one-time</FONT> special equity award (the &#147;RSU Award&#148;) of restricted stock units (&#147;RSUs&#148;) with a value of $4,400,000, granted under the Company&#146;s 2015 Equity
Incentive Plan. The RSU Award has both a time-based component (the &#147;Time-Based RSUs&#148;) and performance-based component (the &#147;Performance RSUs&#148;) with 50% of the RSUs scheduled to vest subject to Dr.&nbsp;Black&#146;s continuing
service to the Company and 50% of the RSUs (assuming target level of performance) eligible to vest only upon achievement of performance goals. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">When considering the RSU Award, the Board and the Compensation Committee, with advice and input from its independent compensation consultant,
considered Dr.&nbsp;Black&#146;s critical role in leading the Company through a large-scale transformation during his tenure as CEO. Since Dr.&nbsp;Black joined the Company in 2012, the Company has recognized significant increases in revenue, market
value and total shareholder return. As Dr.&nbsp;Black is vital to the continued success of the Company, the Board and the Compensation Committee felt it appropriate to grant the RSU Award as an incentive to Dr.&nbsp;Black to remain with the Company
and to provide Dr.&nbsp;Black an opportunity to participate in stockholder value creation if the Company is able to meet aggressive performance goals. The RSU Award was designed to motivate and incentivize Dr.&nbsp;Black to drive the long-term
growth of the Company and to align his financial interests with those of our stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">When determining the size of the RSU Award,
the Board and the Compensation Committee considered a number of factors. In December 2015, the Company granted retention oriented equity awards to its executives, but did not award a retention award to Dr.&nbsp;Black. Dr.&nbsp;Black did not receive
a retention award in December 2015 because the December 2015 awards vested solely based on continued service and the Board and the Compensation Committee wanted any potential award to Dr.&nbsp;Black to also include meaningful performance
requirements. Additionally, at the time of the 2015 grants, Dr.&nbsp;Black had an existing performance-based option award and the Board and the Compensation Committee did not want overlap with the performance-based option. In July 2017, despite
outstanding Company performance, Dr.&nbsp;Black will have forfeited 595,000 shares of the performance-based option award because the Company did not achieve the extremely aggressive stock price hurdles associated with the award. The Board and the
Compensation Committee considered the fact that Dr.&nbsp;Black did not receive a retention grant in December 2015 and expiration of the performance-based option award when calculating the number of shares subject to the RSU Award. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Time-Based RSUs are scheduled to vest in three equal installments on each annual anniversary of the grant date, thereby providing an
incentive to Dr.&nbsp;Black to remain with the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Performance RSUs will vest only upon achievement of revenue growth and stock
price goals. By linking the vesting of the Performance RSUs to performance, Dr.&nbsp;Black will only realize value from the Performance RSUs if the Company&#146;s revenue and stock price grows, thus aligning Dr.&nbsp;Black&#146;s financial interests
with the interests of our stockholders and reinforcing the Company&#146;s performance goals of long-term revenue growth and increased stockholder value. The number of Performance RSUs that will become eligible to vest will be measured over a
three-year period ending December&nbsp;31, 2019, unless the performance period is shortened because of a change of control of the Company or a termination of Dr.&nbsp;Black&#146;s employment without cause. At the end of the performance period, the
Company&#146;s compounded average annual revenue growth (&#147;CAARG&#148;) from </P>

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2017 through 2019 will be measured and every 1% of CAARG will result in Dr.&nbsp;Black becoming eligible to vest in 10% of the target number of Performance RSUs, up to a maximum of 150% of the
target number of Performance RSUs at 15% CAARG. If the CAARG is zero or is negative, Dr.&nbsp;Black will not be eligible to receive any of the Performance RSUs relating to the CAARG goal. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">In addition, if the Company&#146;s average closing stock price for the consecutive <FONT STYLE="white-space:nowrap">20-day</FONT> trading
period ending on December&nbsp;31, 2019 exceeds 130% of the Company&#146;s stock price on the RSU Award&#146;s date of grant, Dr.&nbsp;Black will be eligible to earn 50% of the target number of Performance RSUs. Alternatively, in the event of a
change of control of the Company or upon a qualifying termination of Dr.&nbsp;Black&#146;s employment, in either event that occurs before December&nbsp;31, 2019, the stock price will be measured based on the anticipated change of control price or
the average closing stock price for the consecutive <FONT STYLE="white-space:nowrap">20-day</FONT> trading period ending on the termination date, as applicable. Achievement of the stock price goal will be all or nothing and there will be no partial
achievement for any stock price gain less than 130%. In no event will more than 150% of the target Performance RSUs be eligible to vest. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">The Performance RSUs that become eligible to vest following the satisfaction of the performance criteria (the &#147;Eligible RSUs&#148;) will
vest on December&nbsp;31, 2019 (or earlier upon a change of control of the Company or upon a qualifying termination of Dr.&nbsp;Black&#146;s employment). If the performance goals are not achieved, Dr.&nbsp;Black will not vest in any of the
Performance RSUs. Dr.&nbsp;Black must remain employed through the end of the performance period in order to vest in the Eligible RSUs. If the Company undergoes a change of control or Dr.&nbsp;Black&#146;s employment is terminated without cause, a <FONT
STYLE="white-space:nowrap">pro-rata</FONT> portion of the Eligible RSUs will vest upon the closing of the change of control or qualifying termination, as applicable, based upon the number of completed months between January&nbsp;1, 2017 and the
closing of the change of control or termination date, as applicable. In the event of a change of control, any remaining Eligible RSUs will be scheduled to vest on each December&nbsp;31 remaining in the performance period, subject to any accelerated
vesting provisions set forth in the Agreement. In the event of a qualifying termination of employment outside of the context of a change of control, pursuant to the terms of the Agreement, Dr.&nbsp;Black will receive 12 months additional vesting of
any Eligible RSUs. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="12%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d) Exhibits. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement between the Company and Ronald Black, dated July&nbsp;17, 2017.</TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">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. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Date: July&nbsp;18, 2017</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Rambus Inc.</TD></TR>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Jae Kim</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Jae Kim, Senior Vice President and General Counsel</TD></TR>
</TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit Index </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1.00pt solid #000000; width:28.45pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:43.25pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit Title</B></P></TD></TR>


<TR STYLE="font-size:1pt">
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<TD VALIGN="top" NOWRAP>10.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Employment Agreement between the Company and Ronald Black, dated July&nbsp;17, 2017.</TD></TR>
</TABLE>
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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d424350dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RAMBUS INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EMPLOYMENT
AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Employment Agreement (the &#147;Agreement&#148;) is by and between Rambus Inc. (the &#147;Company&#148;) and Ronald Black
(&#147;Executive&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Duties and Scope of Employment</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Positions and Duties</U>. This Agreement will be effective as of June&nbsp;26,&nbsp;2017 (the &#147;Effective
Date&#148;). As of the Effective Date, Executive will continue to serve as the Company&#146;s President and Chief Executive Officer, reporting directly to the Company&#146;s Board of Directors (the &#147;Board&#148;) and will continue to render such
business and professional services in the performance of his duties, consistent with Executive&#146;s position within the Company, as will reasonably be assigned to him by the Board. The period Executive is employed by the Company under this
Agreement is referred to herein as the &#147;Employment Term.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Board Membership</U>. Executive
currently serves as a member of the Board. Following the Effective Date, Executive&#146;s continued service as a member of the Board will be subject to any required stockholder approval. Upon the termination of Executive&#146;s employment for any
reason, unless otherwise requested by the Board, Executive will be deemed to have resigned from the Board (and all other officer and director positions held at the Company and its affiliates) voluntarily, without any further action by Executive, as
of the end of Executive&#146;s employment and Executive, at the Board&#146;s request, will execute any documents reasonably necessary to reflect his resignation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Obligations</U>. During the Employment Term, Executive will devote Executive&#146;s full business efforts and
time to the Company and will use good faith efforts to discharge Executive&#146;s obligations under this Agreement to the best of Executive&#146;s ability and in accordance with the Company&#146;s Code of Business Conduct and Ethics. For the
duration of the Employment Term, Executive agrees not to actively engage in any other employment, occupation, or consulting activity, including membership of boards of directors or advisors, for any direct or indirect remuneration without the prior
approval of the Board. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Location</U><B>.</B> Executive acknowledges that the Company&#146;s principal
executive offices are currently located in Sunnyvale, California. Executive&#146;s principal place of employment shall continue to be the Company&#146;s principal executive offices. Executive agrees that he will be regularly present at the
Company&#146;s principal executive offices to perform his duties hereunder. Executive acknowledges that he may be required to travel from time to time in the course of performing his duties for the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;<U>Representation</U>. Executive hereby represents and warrants to the Company that Executive is not party to any
contract, understanding, agreement or policy, written or otherwise, that would be breached by Executive&#146;s entering into, or performing services under, this Agreement. Executive further represents that as of the date of this Agreement, other
than those disclosed to the Company in writing, there are no threatened, pending, or actual claims against Executive of which he is aware as a result of his employment with any previous employer or his membership on any boards of directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;<U>Other Entities</U>. Executive agrees to serve and may be appointed, without additional compensation, as an
officer and director for each of the Company&#146;s subsidiaries, partnerships, joint ventures, limited liability companies and other affiliates, including entities in which the Company has a significant investment as determined by the Company. As
used in this Agreement, the term &#147;affiliates&#148; will include any entity controlled by, controlling, or under common control of the Company. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Term</U>. This Agreement will commence on the Effective Date and
will remain in effect through June&nbsp;26, 2022; provided, however, that Sections 8 and 9 of this Agreement shall survive the lapse of the term of this Agreement and shall be binding on both parties with respect to any termination of
Executive&#146;s employment triggering severance benefits under Section&nbsp;9 that occurs prior to the lapsing of the term of this Agreement. Notwithstanding the foregoing provisions of this paragraph, (a)&nbsp;if a Change of Control occurs when
there are fewer than twelve (12)&nbsp;months remaining during the term of this Agreement, the term of this Agreement will extend automatically through the date that is twelve (12)&nbsp;months following the effective date of the Change of Control, or
(b)&nbsp;if an initial occurrence of an act or omission by the Company constituting the grounds for &#147;Good Reason&#148; in accordance with Section&nbsp;11(d) hereof has occurred (the &#147;Initial Grounds&#148;), and the expiration date of the
Company cure period (as referenced in Section&nbsp;11(d)) with respect to such Initial Grounds could occur following the expiration of the term of the Agreement, the term of this Agreement will extend automatically through the date that is thirty
(30)&nbsp;days following the expiration of such cure period, but such extension of the term will only apply with respect to the Initial Grounds. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">At-Will</FONT> Employment</U>. Executive and the Company agree that
Executive&#146;s employment with Company constitutes <FONT STYLE="white-space:nowrap">&#147;at-will&#148;</FONT> employment. Executive and the Company acknowledge that this employment relationship may be terminated at any time, upon written notice
to the other party, with or without Cause or Good Reason (as each such term is defined in Section&nbsp;11 below), at the option either of the Company or the Executive. However, as described in this Agreement, Executive may be entitled to severance
benefits depending upon the circumstances of Executive&#146;s termination of employment. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation</U>.
</P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Base Salary</U>. As of the Effective Date, the Company will pay Executive an annual salary of $555,000 as
compensation for his services (such annual salary, as is then effective, to be referred to herein as &#147;Base Salary&#148;). The Base Salary will be paid periodically in accordance with the Company&#146;s normal payroll practices and be subject to
the usual, required withholdings. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Annual Incentive</U>. Executive will be eligible to receive annual
incentives payable for the achievement of performance goals established by the Compensation Committee of the Board (the &#147;Compensation Committee&#148;) following consultation with the Executive, with a target bonus at least equal to 100% of
Executive&#146;s Base Salary (the &#147;Target Bonus&#148;) and a maximum bonus at least equal to 200% of Executive&#146;s Base Salary. For the Company&#146;s 2017 fiscal year, Executive&#146;s target bonus will equal 130% of Executive&#146;s Base
Salary with a maximum bonus of 260% of Executive&#146;s Base Salary. The actual earned Target Bonus, if any, payable to Executive for any performance period will depend upon the extent to which the applicable performance goal(s) specified by the
Compensation Committee of the Board are achieved or exceeded (the &#147;Earned Bonus&#148;). All annual incentive payments are contingent upon Executive remaining employed with the Company through the payment date. In no event shall payment of any
Earned Bonus be made later than March&nbsp;15th of the year following the year to which the Earned Bonus relates. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Equity</U>. Executive will be eligible to receive awards of stock options, restricted stock units or other
equity awards pursuant to any plans or arrangements the Company may have in effect from time to time. The Compensation Committee will determine in its discretion whether Executive will be granted any such equity awards and the terms of any such
award in accordance with the terms of any applicable plan or arrangement that may be in effect from time to time. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-2- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;<U>Employee Benefits</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Generally</U>. Executive will be eligible to participate in accordance with the terms of all Company employee
benefit plans, policies and arrangements that are applicable to other executive officers of the Company, as such plans, policies and arrangements may exist from time to time. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Vacation</U>. Executive will be entitled to receive paid annual vacation in accordance with Company policy for
other senior executive officers. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.&nbsp;&nbsp;&nbsp;&nbsp;<U>Expenses</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>General</U>. The Company will reimburse Executive for reasonable travel, entertainment and other expenses
incurred by Executive in the furtherance of the performance of Executive&#146;s duties hereunder, in accordance with the Company&#146;s expense reimbursement policy as in effect from time to time. In addition, the Company shall reimburse Executive
up to $15,000 for reasonable attorneys&#146; fees incurred in the negotiation, preparation, and execution of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Relocation Expenses</U>. The Company will reimburse Executive for reasonable relocation related expenses for
relocating Executive&#146;s European residence from Paris, France to Rotterdam, Netherlands, which would include moving expenses and real estate fees, not to exceed $200,000 in the aggregate. For these purposes, the Company&#146;s finance department
will use an exchange rate in effect at the time the expenses are submitted for reimbursement consistent with Company policy and past practice. Any taxable reimbursement will be subject to the provisions of Section&nbsp;23(e). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.&nbsp;&nbsp;&nbsp;&nbsp;<U>Term and Termination of Employment</U>. In the event Executive&#146;s employment with the Company terminates for
any reason, Executive will be entitled to any (a)&nbsp;unpaid Base Salary and Earned Bonus(es) accrued up to the effective date of termination; (b)&nbsp;pay for accrued but unused vacation; (c)&nbsp;benefits or compensation as provided under the
terms of any employee benefit and compensation agreements or plans applicable to Executive; (d)&nbsp;unreimbursed business and other expenses required to be reimbursed to Executive pursuant to Section&nbsp;6; and (e)&nbsp;rights to indemnification
Executive may have under the Company&#146;s Articles of Incorporation, Bylaws, the Agreement, separate indemnification agreement, or applicable law, as applicable. In addition, if the termination is by the Company without Cause or Executive resigns
for Good Reason, Executive will be entitled to amounts and benefits specified in Section&nbsp;9, subject to the conditions therein. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival of Covenants</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U><FONT STYLE="white-space:nowrap">Non-solicitation</FONT> and
<FONT STYLE="white-space:nowrap">Non-competition</FONT></U>. The Executive agrees that during the Employment Term and for twelve (12)&nbsp;months thereafter, Executive will not solicit any employee of the Company for employment other than at the
Company or one of its subsidiaries or affiliates, and that during the Employment Term will not directly or indirectly engage in, have any ownership interest in or participate in any entity that competes with the Company in any substantial business
of the Company or any business reasonably expected to become a substantial business of the Company. Executive&#146;s passive ownership of not more than 3% of any publicly traded company and/or 5% ownership of any privately held company will not
constitute a breach of this Section&nbsp;8(a). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Nondisparagement</U>. During the Employment Term and for
twelve (12)&nbsp;months thereafter, Executive will not knowingly and materially disparage, criticize, or otherwise make any derogatory </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-3- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
statements regarding the Company, the members of the Board or the chief executive staff. During the Employment Term and for twelve (12)&nbsp;months thereafter, members of the Board and the chief
executive staff will not knowingly and materially publicly disparage, criticize, or otherwise make any derogatory statements regarding Executive. Notwithstanding the foregoing and subject to Section&nbsp;13 of this Agreement, nothing contained in
this Agreement will be deemed to restrict Executive, the Company or any of the Company&#146;s current or former officers and/or directors from providing information to any governmental or regulatory agency (or in any way limit the content of any
such information) to the extent they are required to provide such information pursuant to applicable law or regulation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.&nbsp;&nbsp;&nbsp;&nbsp;<U>Severance</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination Without Cause Other Than During the Change of Control Transition Period</U>. If Executive&#146;s
employment with the Company is terminated by the Company without Cause (as defined in this Agreement) other than during the Change of Control Transition Period (as defined in this Agreement), then subject to Executive signing and not revoking a
release of claims in favor of the Company substantially in the form attached as <U>Exhibit A</U> to this Agreement, the Company shall provide severance pay and benefits, subject to continuing compliance with Section&nbsp;8 hereof, as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;<U>Base Salary</U>. The Company shall provide monetary severance to Executive equal to one (1)&nbsp;year&#146;s
Base Salary and one (1)&nbsp;year&#146;s Target Bonus. Such severance shall be paid ratably over twelve (12)&nbsp;months from the date of employment termination in accordance with the payroll schedule applicable to active officers of the Company,
subject to the provisions of Section&nbsp;9(c) and any delay required to avoid taxation under Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;<U>Pay in Lieu of Continued Employee Benefits</U>. In lieu of continued employee benefits (other than as
statutorily required, such as COBRA continuation coverage as required by law), Executive shall receive payments of three thousand dollars ($3,000) per month for twelve (12)&nbsp;months from the date of employment termination in accordance with the
payroll schedule applicable to active officers of the Company, subject to the provisions of Section&nbsp;9(c) and any delay required to avoid taxation under Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;<U>Equity Vesting Acceleration</U>. Any outstanding equity compensation awards that vest solely based upon
Executive&#146;s continued service with the Company shall immediately accelerate vesting as to the number of shares that would have otherwise vested had Executive remained employed by the Company for twelve (12)&nbsp;months following
Executive&#146;s termination date. This includes equity compensation awards with a mixture of performance-based vesting and service-based vesting provisions as to which the performance metric has been achieved by the termination date, but not as to
any such awards as to which the performance metric has not been achieved by the termination date. If, however, any such vesting acceleration does not result in any additional vesting due to a cliff-vesting provision of one (1)&nbsp;year or more,
such awards shall vest as if the grant was initially subject to ratable monthly vesting over the entire vesting period, with an additional accelerated vesting of twelve (12)&nbsp;months added on to <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">such-pro-rated</FONT></FONT> vesting. Any such awards will otherwise remain subject to the terms of the applicable stock plan, grant and/or agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination Without Cause or Voluntary Termination for Good Reason During the Change of Control Transition
Period</U>. If, during the period commencing on the three (3)&nbsp;month anniversary before and ending on the twelve (12)&nbsp;month anniversary following a Change of Control (as defined in this Agreement) (the &#147;Change of Control Transition
Period&#148;), Executive&#146;s employment with the Company (i)&nbsp;is terminated by the Company without Cause (as defined in this Agreement), (ii) voluntarily by Executive for </P>
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Good Reason (as defined in this Agreement), in each case subject to Executive signing and not revoking a release of claims in favor of the Company substantially in the form attached as <U>Exhibit
A</U> to this Agreement, the Company shall provide severance pay and benefits, subject to continuing compliance with Section&nbsp;8 hereof, as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(i)&nbsp;&nbsp;&nbsp;&nbsp;<U>Base Salary</U>. The Company shall provide monetary severance to Executive equal to eighteen
(18)&nbsp;month&#146;s Base Salary and one and <FONT STYLE="white-space:nowrap">one-half</FONT> (1.5) times the Target Bonus. Such severance shall be paid ratably over twelve (12)&nbsp;months from the date of employment termination in accordance
with the payroll schedule applicable to active officers of the Company, subject to the provisions of Section&nbsp;9(c) and any delay required to avoid taxation under Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(ii)&nbsp;&nbsp;&nbsp;&nbsp;<U>Pay in Lieu of Continued Employee Benefits</U>. In lieu of continued employee benefits (other than as
statutorily required, such as COBRA continuation coverage as required by law), Executive shall receive payments of three thousand dollars ($3,000) per month for eighteen (18)&nbsp;months from the date of employment termination in accordance with the
payroll schedule applicable to active officers of the Company, subject to the provisions of Section&nbsp;9(c) and any delay required to avoid taxation under Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iii)&nbsp;&nbsp;&nbsp;&nbsp;<U>Equity Vesting Acceleration</U>. Any outstanding equity compensation awards that vest solely based upon
Executive&#146;s continued service with the Company shall immediately accelerate vesting 100%. This includes equity compensation awards with a mixture of performance-based vesting and service-based vesting provisions as to which the performance
metric has been achieved by the termination date, but not as to any such awards as to which the performance metric has not been achieved by the termination date. Any such awards will otherwise remain subject to the terms of the applicable stock
plan, grant and/or agreement. For the avoidance of doubt, if the Company terminates Executive&#146;s employment with the Company without Cause or if Executive resigns from such employment for Good Reason prior to a Change of Control, then any
unvested portion of Executive&#146;s outstanding equity awards will remain outstanding for three (3)&nbsp;months or the occurrence of a Change of Control (whichever is earlier) so that any acceleration benefits can be provided if a Change of Control
occurs within three (3)&nbsp;months following such termination (provided that in no event will the equity awards remain outstanding beyond the equity award&#146;s maximum term or expiration date). In such case, if no Change of Control occurs within
three (3)&nbsp;months following Executive&#146;s termination, any unvested portion of Executive&#146;s equity awards automatically will be forfeited without having vested. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:13%; font-size:10pt; font-family:Times New Roman">(iv)&nbsp;&nbsp;&nbsp;&nbsp;<U>Voluntary Termination Without Good Reason or Termination for Cause; Death and Disability</U>. If
Executive&#146;s employment terminates other than pursuant to (A)&nbsp;a voluntary termination for Good Reason or a termination by the Company without Cause during the Change of Control Transition Period or, (B)&nbsp;a termination by the Company
without Cause other than during the Change of Control Transition Period, including due to Executive&#146;s death or Disability, then, except as provided in Section&nbsp;7, (i)&nbsp;all further vesting of Executive&#146;s outstanding equity awards
will terminate immediately; and (ii)&nbsp;all payments of compensation by the Company to Executive hereunder will terminate immediately. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Separation Agreement and Release of Claims</U>. Receipt of the severance payments and benefits specified in this
Section&nbsp;9 shall be contingent on Executive&#146;s (or Executive&#146;s estate, in the event of Executive&#146;s death) execution of a full release of all claims against the Company in substantially the form attached to this Agreement as
<U>Exhibit A</U>, and the lapse of any statutory period for revocation, and such release becoming effective in accordance with its terms within <FONT STYLE="white-space:nowrap">fifty-two</FONT> (52)&nbsp;days following the termination date (the
&#147;Release Deadline&#148;). Any severance payments or benefits under this Agreement will be paid on, or, in the </P>
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case of installments, will not commence until, the fifty-third (53<SUP STYLE="font-size:85%; vertical-align:top">rd</SUP>) day following Executive&#146;s separation from service, or, if later,
(A)&nbsp;with respect to severance payments or benefits payable under Sections 9(b)(i) and (ii), if Executive&#146;s termination date occurs during the Change of Control Transition Period but prior to the closing of the Change of Control, on the
date of the closing of the Change of Control, or (B)&nbsp;such time as required by Section&nbsp;23(b) except that the acceleration of vesting of equity awards not subject to Section&nbsp;409A will become effective on the release&#146;s effective
date, or, if later, with respect to the benefits provided in Section&nbsp;9(b)(iii), if Executive&#146;s termination date occurs within the Change of Control Transition Period but prior to the closing of the Change of Control, on the date of the
closing of the Change of Control. Except as required by 23(b), any lump sum or installment <U STYLE="border-bottom:1pt double; padding-bottom:1pt">payments that would have been made to
</U>Executive<U STYLE="border-bottom:1pt double; padding-bottom:1pt"> during the period between the date of the </U>Executive<U STYLE="border-bottom:1pt double; padding-bottom:1pt">&#146;s separation from service and the </U>fifty-third (53<SUP
STYLE="font-size:85%; vertical-align:top">rd</SUP>) day following Executive&#146;s separation from service<U STYLE="border-bottom:1pt double; padding-bottom:1pt"> but for the preceding sentence will be paid to
</U>Executive<U STYLE="border-bottom:1pt double; padding-bottom:1pt"> on the </U>fifty-third (53<SUP STYLE="font-size:85%; vertical-align:top">rd</SUP>) day following Executive&#146;s separation from service, or, if later, with respect to severance
payments or benefits payable under Sections 9(b)(i) and (ii), if Executive&#146;s termination date occurs during the Change of Control Transition Period but prior to the closing of the Change of Control, on the date of the closing of the Change of
Control, <U STYLE="border-bottom:1pt double; padding-bottom:1pt">and the remaining payments will be made as provided in this Agreement. </U>If the release does not become effective and irrevocable by the Release Deadline, Executive will forfeit any
right to severance payments or benefits under this Agreement. In no event will severance payments or benefits be paid or provided until the release actually becomes effective and irrevocable.
<U STYLE="border-bottom:1pt double; padding-bottom:1pt">In no event will </U>Executive<U STYLE="border-bottom:1pt double; padding-bottom:1pt"> have discretion to determine the taxable year of any payments.</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>No Duty to Mitigate</U>. Executive will not be required to mitigate the amount of any payment or benefit
contemplated by this Agreement, nor will any earnings that Executive may receive from any other source reduce any such payment or benefit. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.&nbsp;&nbsp;&nbsp;&nbsp;<U>Code Section</U><U></U><U>&nbsp;280G Best Results</U>. If any payment or benefit Executive would receive
pursuant to this Agreement or otherwise, including accelerated vesting of any equity compensation (&#147;Payment&#148;) would (i)&nbsp;constitute a &#147;parachute payment&#148; within the meaning of Section&nbsp;280G of the Internal Revenue Code of
1986, as amended (the &#147;Code&#148;), and (ii)&nbsp;but for this sentence, be subject to the excise tax imposed by Section&nbsp;4999 of the Code (the &#147;Excise Tax&#148;), then such Payment shall be reduced to the Reduced Amount. The
&#147;Reduced Amount&#148; shall be either (x)&nbsp;the largest portion of the Payment that would result in no portion of the Payment being subject to the Excise Tax or (y)&nbsp;the largest portion, up to and including the total, of the Payment,
whichever amount, after taking into account all applicable federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Executive&#146;s receipt, on an <FONT
STYLE="white-space:nowrap">after-tax</FONT> basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction in payments or benefits constituting &#147;parachute
payments&#148; is necessary so that the Payment equals the Reduced Amount, reduction shall occur in the following order: (A)&nbsp;cash payments shall be reduced first and in reverse chronological order such that the cash payment owed on the latest
date following the occurrence of the event triggering such excise tax will be the first cash payment to be reduced; (B)&nbsp;accelerated vesting of stock awards shall be cancelled/reduced next and in the reverse order of the date of grant for such
stock awards (i.e., the vesting of the most recently granted stock awards will be reduced first), with full-value awards reversed before any stock option or stock appreciation rights are reduced; and (C)&nbsp;employee benefits shall be reduced last
and in reverse chronological order such that the benefit owed on the latest date following the occurrence of the event triggering such excise tax will be the first benefit to be reduced. In no event will Executive have any discretion with respect to
the ordering of Payment reductions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder and
perform the foregoing calculations. The Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-6- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The accounting firm engaged to make the determinations hereunder shall provide its calculations, together with
detailed supporting documentation, to the Company and Executive within fifteen (15)&nbsp;calendar days after the date on which right to a Payment is triggered (if requested at that time by the Company or Executive) or such other time as requested by
the Company or Executive. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon the Company and Executive. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11.&nbsp;&nbsp;&nbsp;&nbsp;<U>Definitions</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<U>Cause</U>. For purposes of this Agreement, &#147;Cause&#148; will mean: (i)&nbsp;any act of personal dishonesty
taken by the Executive in connection with his responsibilities hereunder and intended to result in material and substantial personal enrichment of the Executive, (ii)&nbsp;Executive&#146;s conviction of, or plea of <U>nolo</U> <U>contendere</U> to,
a felony, (iii)&nbsp;a willful act by the Executive which constitutes gross misconduct and which is materially injurious to the Company or its affiliates, and (iv)&nbsp;following delivery to the Executive of a written demand for performance from the
Board which describes the basis for the Board&#146;s belief that the Executive has performed his duties in a grossly negligent manner, the Executive&#146;s failure to cure such acts of gross negligence within a reasonable period of no less than
thirty (30)&nbsp;days from the date the Board provides written notice. The determination of &#147;Cause&#148; shall be made by the Board in its reasonable discretion within ninety (90)&nbsp;days of its initial existence and, with respect to
Section&nbsp;11(a)(iv), Executive must be provided with at least thirty (30)&nbsp;days to remedy the condition. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<U>Change of Control</U>. For the purposes of this Agreement, &#147;Change of Control&#148; shall mean (i)&nbsp;any
&#147;person&#148; (as such term is used in Sections&nbsp;13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the &#147;beneficial owner&#148; (as defined in <FONT STYLE="white-space:nowrap">Rule&nbsp;13d-3</FONT> under said
Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company&#146;s then outstanding voting securities; (ii)&nbsp;a change in the composition of the Board
occurring within a two (2)-year period, as a result of which fewer than a majority of the directors are Incumbent Directors. &#147;Incumbent Directors&#148; shall mean directors who either (A)&nbsp;are directors of the Company as of the date hereof,
or (B)&nbsp;are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or
nomination is in connection with an actual or threatened proxy contest relating to the election of directors of the Company); (iii) the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least
fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation; or (iv)&nbsp;the consummation of the sale or disposition by the
Company of all or substantially all the Company&#146;s assets. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<U>Disability</U>. For purposes of this
Agreement, &#147;Disability&#148; means Executive (i)&nbsp;is unable to engage in any substantial gainful activity (after taking into account any reasonable accommodations that do not cause an undue burden on the Company) by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12)&nbsp;months, or (ii)&nbsp;is, by reason of any medically determinable physical or
mental impairment which can be expected to last for a continuous period of not less than twelve (12)&nbsp;months, receiving income replacement benefits for a period of not less than three (3)&nbsp;months under an accident and health plan covering
Company employees. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;<U>Good Reason</U>. For purposes of this Agreement, &#147;Good
Reason&#148; is defined as, without the Executive&#146;s consent, (i)&nbsp;a reduction in the Executive&#146;s Base Salary (except pursuant to a reduction of no more than 10% of base salary generally applicable to senior executives of the Company),
(ii) a material diminution of Executive&#146;s authority or responsibilities, (iii)&nbsp;a reduction of Executive&#146;s title, (iv)&nbsp;Executive ceasing to report directly to the Board, (v)&nbsp;the Board failing to
<FONT STYLE="white-space:nowrap">re-nominate</FONT> Executive for Board membership when his Board term expires while he is employed by the Company, or (vi)&nbsp;a material breach of this Agreement by the Company. In addition, upon any such voluntary
termination for Good Reason the Executive must provide written notice to the Company of the existence of the one or more of the above conditions within ninety (90)&nbsp;days of its initial existence and the Company must be provided with at least
thirty (30)&nbsp;days to remedy the condition. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>. The Indemnification Agreement executed
by Executive and the Company in connection with his initial employment with the Company will continue in full force and effect. In addition, subject to applicable law, Executive will be provided indemnification to the maximum extent permitted by the
Company&#146;s Articles of Incorporation or Bylaws, including, if applicable, any directors and officers insurance policies, with such indemnification to be on terms determined by the Board or any of its committees, but on terms no less favorable
than provided to any other Company executive officer or director and subject to the terms of any separate written indemnification agreement. During the Employment Term and for a period of six (6)&nbsp;years thereafter, the Company shall maintain
directors&#146; and officers&#146; liability insurance that names Executive as an insured under such policies at a level (including, but not limited to, amounts, deductibles, scope and exclusions) commensurate with that which is applicable at all
relevant times to the Company&#146;s most senior executives and directors; provided that, following the Employment Term, the Company may substitute the foregoing obligation for a single premium tail coverage with respect to such directors&#146; and
officers&#146; liability insurance at a level (including, but not limited to, amounts, deductibles, scope and exclusions) at least as favorable as in the existing policies of the Company as were in effect immediately prior to the end of the
Employment Term. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13.&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidential Information</U>. Executive will continue to abide by the terms of
Executive&#146;s previously executed Employment, Confidential Information and Invention Assignment Agreement (the &#147;Proprietary Information Agreement&#148;). Notwithstanding the foregoing, Executive understands that nothing in this Agreement or
the Proprietary Information Agreement will in any way limit or prohibit Executive from engaging in any Protected Activity. For purposes of this Agreement, &#147;Protected Activity&#148; will include filing a charge, complaint, or report with, or
otherwise communicating, cooperating, or participating in any investigation or proceeding that may be conducted by, any federal, state or local government agency or commission, including the Securities and Exchange Commission, the Equal Employment
Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor Relations Board (&#147;Government Agencies&#148;). Executive understands that in connection with such Protected Activity, Executive is permitted to
disclose documents or other information as permitted by law, without giving notice to, or receiving authorization from, the Company. Notwithstanding the foregoing, Executive agrees to take all reasonable precautions to prevent any unauthorized use
or disclosure of any information that may constitute Company confidential information under the Proprietary Information Agreement to any parties other than the Government Agencies. Executive further understands that &#147;Protected Activity&#148;
does not include the disclosure of any Company attorney-client privileged communications or attorney work product. Any language in the Proprietary Information Agreement regarding Executive&#146;s right to engage in Protected Activity that conflicts
with, or is contrary to, this section is superseded by this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14.&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment</U>. This Agreement will
be binding upon and inure to the benefit of (a)&nbsp;the heirs, executors and legal representatives of Executive upon Executive&#146;s death, and (b)&nbsp;any successor of the </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-8- </P>


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Company. Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for all purposes. For this purpose, &#147;successor&#148; means any person,
firm, corporation, or other business entity which at any time, whether by purchase, merger, or otherwise, directly or indirectly acquires all or substantially all of the assets or business of the Company. None of the rights of Executive to receive
any form of compensation payable pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted assignment, transfer, conveyance, or other disposition of Executive&#146;s right
to compensation or other benefits will be null and void. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15.&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>. All notices, requests, demands and
other communications called for hereunder will be in writing and will be deemed given (a)&nbsp;on the date of delivery if delivered personally; (b)&nbsp;one (1)&nbsp;day after being sent overnight by a well-established commercial overnight service,
or (c)&nbsp;four (4)&nbsp;days after being mailed by registered or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later
designate in writing: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If to the Company: </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman"><U>Attn</U>: General Counsel </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Rambus Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">1050 Enterprise Way,
Suite 700 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Sunnyvale, California 94089 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">If to Executive: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">at the last
residential address known by the Company </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16.&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>. If any provision hereof becomes or is declared
by a court of competent jurisdiction to be illegal, unenforceable, or void, this Agreement will continue in full force and effect without said provision. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17.&nbsp;&nbsp;&nbsp;&nbsp;<U>Integration</U>. This Agreement, together with the Indemnification Agreement, Proprietary Information Agreement
and the equity award agreements covering Executive&#146;s equity awards, represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements or plans whether
written or oral. No waiver, alteration, or modification of any of the provisions of this Agreement will be binding unless in a writing and signed by duly authorized representatives of the parties hereto. In entering into this Agreement, no party has
relied on or made any representation, warranty, inducement, promise, or understanding that is not in this Agreement. To the extent that any provisions of this Agreement conflict with those of any other agreement, including the Proprietary
Information Agreement, then, subject to Section&nbsp;13 relating to Protected Activity, the terms in this Agreement will prevail. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18.&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver of Breach</U>. The waiver of a breach of any term or provision of this Agreement, which must be in
writing, will not operate as or be construed to be a waiver of any other previous or subsequent breach of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19.&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>. All captions and Section&nbsp;headings used in this Agreement are for convenient reference only
and do not form a part of this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20.&nbsp;&nbsp;&nbsp;&nbsp;<U>Tax Withholding</U>. All payments made pursuant to this Agreement
will be subject to withholding of applicable taxes. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-9- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21.&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. This Agreement will be governed by the laws of
the State of California, without regard to its conflict of laws provisions. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22.&nbsp;&nbsp;&nbsp;&nbsp;<U>Acknowledgment</U>. Executive
acknowledges that he has had the opportunity to discuss this matter with and obtain advice from his private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and
voluntarily entering into this Agreement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">23.&nbsp;&nbsp;&nbsp;&nbsp;<U>Section 409A</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Agreement, no severance pay or benefits to be paid or provided to
Executive, if any, pursuant to this Agreement that, when considered together with any other severance payments or separation benefits are considered deferred compensation Section&nbsp;409A of the U.S. Internal Revenue Code of 1986, as amended and
the final regulations and any guidance promulgated under Section&nbsp;409A, as each may be amended from time to time (together, &#147;Section&nbsp;409A&#148;) (together, the Deferred Compensation Separation Benefits&#148;) will be paid or otherwise
provided until Executive has a &#147;separation from service&#148; within the meaning of Section&nbsp;409A. Similarly, no severance payable to Executive, if any, pursuant to this Agreement that otherwise would be exempt from Section&nbsp;409A
pursuant to Treasury Regulation <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-1(b)(9)&nbsp;will</FONT> be payable until Executive has a &#147;separation from service&#148; within the meaning of Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding anything to the contrary in this Agreement, if Executive is a &#147;specified employee&#148; within
the meaning of Section&nbsp;409A at the time of Executive&#146;s separation from service (other than due to death), then the Deferred Compensation Separation Benefits, if any, that are payable within the first six (6)&nbsp;months following
Executive&#146;s separation from service, will become payable on the first payroll date that occurs on or after the date six (6)&nbsp;months and one (1)&nbsp;day following the date of Executive&#146;s separation from service. All subsequent Deferred
Compensation Separation Benefits, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive&#146;s separation from
service, but before the six (6)&nbsp;month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of
Executive&#146;s death and all other Deferred Compensation Separation Benefits will be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to
constitute a separate payment under <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-2(b)(2)&nbsp;of</FONT> the Treasury Regulations. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;Any amount paid under this Agreement that satisfies the requirements of the &#147;short-term deferral&#148; rule
set forth in <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-1(b)(4)&nbsp;of</FONT> the Treasury Regulations will not constitute Deferred Compensation Separation Benefits for purposes of clause (i)&nbsp;above. Any amount paid under this
Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant to <FONT STYLE="white-space:nowrap">Section&nbsp;1.409A-1(b)(9)(iii)&nbsp;of</FONT> the Treasury Regulations that does not exceed the
Section&nbsp;409A Limit (as defined below)&nbsp;will not constitute Deferred Compensation Separation Benefits for purposes of clause (i)&nbsp;above. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;The &#147;Section&nbsp;409A Limit&#148; will mean two (2)&nbsp;times the lesser of: (i)&nbsp;Executive&#146;s
annualized compensation based upon the annual rate of pay paid to Executive during Executive&#146;s taxable year preceding the Executive&#146;s taxable year of Executive&#146;s termination of employment as determined under, and with such adjustments
as are set forth in, Treasury Regulation <FONT STYLE="white-space:nowrap">1.409A-1(b)(9)(iii)(A)(1)&nbsp;and</FONT> any Internal </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-10- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
Revenue Service guidance issued with respect thereto; or (ii)&nbsp;the maximum amount that may be taken into account under a qualified plan pursuant to Section&nbsp;401(a)(17)&nbsp;of the Code
for the year in which Executive&#146;s employment is terminated. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;With regard to any provision herein that
provides for reimbursement of costs and expenses or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits, except as permitted by Section&nbsp;409A, (x)&nbsp;the right to reimbursement or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits
shall not be subject to liquidation or exchange for another benefit, (y)&nbsp;the amount of expenses eligible for reimbursement, or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits, provided during any taxable year shall not affect the
expenses eligible for reimbursement, or <FONT STYLE="white-space:nowrap">in-kind</FONT> benefits, to be provided in any other taxable year; <U>provided</U>, that this clause (e)&nbsp;shall not be violated with regard to expenses reimbursed under any
arrangement covered by Section&nbsp;105(b) of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect and (z)&nbsp;such payments shall be made on or before the last day of Executive&#146;s
taxable year following the taxable year in which the expense occurred. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;The foregoing provisions are intended
to comply with or be exempt from the requirements of Section&nbsp;409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section&nbsp;409A, and any ambiguities herein
will be interpreted to be exempt or so comply. The Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable to avoid
imposition of any additional tax or income recognition before actual payment to Executive under Section&nbsp;409A. In no event will the Company reimburse Executive for any taxes that may be imposed on Executive as a result of Section&nbsp;409A. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">24.&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>. This Agreement may be executed in counterparts, and each counterpart will have the same force
and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-11- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by a duly
authorized officer, as of the day and year written below. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3">COMPANY:</TD>
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<TD VALIGN="top" COLSPAN="3">RAMBUS INC.</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Charles Kissner</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">July&nbsp;17, 2017</P></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Charles Kissner</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="top" COLSPAN="3">EXECUTIVE:</TD>
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<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Ronald Black</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">July&nbsp;17, 2017</P></TD></TR>
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<TD VALIGN="top" COLSPAN="3">Ronald Black</TD>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>EXHIBIT A </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RAMBUS INC. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RONALD
BLACK </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RELEASE OF CLAIMS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
Release of Claims (&#147;Agreement&#148;) is made by and between Rambus Inc. (the &#147;Company&#148;) and Ronald Black (&#147;Employee&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">WHEREAS,
Employee has agreed to enter into a release of claims in favor of the Company upon certain events specified in the employment agreement by and between Company and Employee (the &#147;Employment Agreement&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">NOW THEREFORE, in consideration of the mutual promises made herein, the Parties hereby agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U>. Employee&#146;s employment from the Company terminated on
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (the &#147;Termination Date&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">2.&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidential Information</U>. Employee shall continue to maintain the confidentiality of all confidential and
proprietary information of the Company and shall continue to comply with the terms and conditions of the Employment, Confidential Information and Invention Assignment Agreement, between Employee and the Company. Employee shall return all the Company
property and confidential and proprietary information in his possession to the Company on the Effective Date of this Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">3.&nbsp;&nbsp;&nbsp;&nbsp;<U>Payment of Salary</U>. Employee acknowledges and represents that the Company has paid all salary, wages, bonuses,
accrued vacation, commissions and any and all other benefits due to Employee. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">4.&nbsp;&nbsp;&nbsp;&nbsp;<U>Consideration</U>. The Company
shall provide Employee with all of the severance benefits, both in the manner and substance, described in Section&nbsp;9[(a)/(b)] of the Employment Agreement </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">5.&nbsp;&nbsp;&nbsp;&nbsp;<U>Release of Claims</U>. Employee agrees that the foregoing consideration represents settlement in full of all
outstanding obligations owed to Employee by the Company. Employee, on behalf of himself, and his respective heirs, family members, executors and assigns, hereby fully and forever releases the Company and its past, present and future officers,
agents, directors, employees, investors, shareholders, administrators, affiliates, divisions, subsidiaries, parents, predecessor and successor corporations, and assigns, from, and agrees not to sue or otherwise institute or cause to be instituted
any legal or administrative proceedings concerning any claim, duty, obligation or cause of action relating to any matters of any kind, whether presently known or unknown, suspected or unsuspected, that he may possess arising from any omissions, acts
or facts that have occurred up until and including the Effective Date of this Agreement including, without limitation, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;any and all claims relating to or arising from Employee&#146;s employment relationship with the Company and the
termination of that relationship; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;any and all claims relating to, or arising from, Employee&#146;s right to
purchase, or actual purchase of shares of stock of the Company, including, without limitation, any claims for fraud, misrepresentation, breach of fiduciary duty, breach of duty under applicable state corporate law, and securities fraud under any
state or federal law; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;any and all claims for wrongful discharge of employment; termination in violation of
public policy; discrimination; breach of contract, both express and implied; breach of a covenant of good faith and fair dealing, both express and implied; promissory estoppel; negligent or intentional infliction of emotional distress; negligent or
intentional misrepresentation; negligent or intentional interference with contract or prospective economic advantage; unfair business practices; defamation; libel; slander; negligence; personal injury; assault; battery; invasion of privacy; false
imprisonment; and conversion; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-13- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;any and all claims for violation of any federal, state or municipal
statute, including, but not limited to, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967, the Americans with Disabilities Act of 1990, the Fair Labor Standards Act, the
Employee Retirement Income Security Act of 1974, The Worker Adjustment and Retraining Notification Act, the California Fair Employment and Housing Act, and Labor Code section 201, <I>et</I> <I>seq</I>. and section 970, <I>et</I> <I>seq</I>. and all
amendments to each such Act as well as the regulations issued thereunder; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(e)&nbsp;&nbsp;&nbsp;&nbsp;any and all claims for violation of
the federal, or any state, constitution; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(f)&nbsp;&nbsp;&nbsp;&nbsp;any and all claims arising out of any other laws and regulations
relating to employment or employment discrimination; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(g)&nbsp;&nbsp;&nbsp;&nbsp;any and all claims for attorneys&#146; fees and
costs. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Employee agrees that the release set forth in this section shall be and remain in effect in all respects as a complete general release as to the
matters released. This release does not extend to any severance obligations due Employee under the Employment Agreement. Nothing in this Agreement waives (i)&nbsp;Employee&#146;s rights to indemnification or any payments under any insurance policy,
if any, provided by any act, articles of incorporation, <FONT STYLE="white-space:nowrap">by-laws</FONT> or agreement of the Company, state or federal law or policy of insurance; (ii)&nbsp;any vested rights that Employee has under any employee
benefit plans of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">6.&nbsp;&nbsp;&nbsp;&nbsp;<U>Acknowledgment of Waiver of Claims under ADEA</U>. Employee acknowledges that
he is waiving and releasing any rights he may have under the Age Discrimination in Employment Act of 1967 (&#147;ADEA&#148;) and that this waiver and release is knowing and voluntary. Employee and the Company agree that this waiver and release does
not apply to any rights or claims that may arise under the ADEA after the Effective Date of this Agreement. Employee acknowledges that the consideration given for this waiver and release Agreement is in addition to anything of value to which
Employee was already entitled. Employee further acknowledges that he has been advised by this writing that (a)&nbsp;he should consult with an attorney <U>prior</U> to executing this Agreement; (b)&nbsp;he has at least
<FONT STYLE="white-space:nowrap">twenty-one</FONT> (21)&nbsp;days within which to consider this Agreement; (c)&nbsp;he has seven (7)&nbsp;days following the execution of this Agreement by the parties to revoke the Agreement; (d)&nbsp;this Agreement
shall not be effective until the revocation period has expired; and (e)&nbsp;nothing in this Agreement prevents or precludes Employee from challenging or seeking a determination in good faith of the validity of this waiver under the ADEA, nor does
it impose any condition precedent, penalties or costs for doing so, unless specifically authorized by federal law. Any revocation should be in writing and delivered to the Vice-President of Human Resources at the Company by close of business on the
seventh day from the date that Employee signs this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">7.&nbsp;&nbsp;&nbsp;&nbsp;<U>Civil Code
Section</U><U></U><U>&nbsp;1542</U>. Employee represents that he is not aware of any claims against the Company other than the claims that are released by this Agreement. Employee acknowledges that he has been advised by legal counsel and is
familiar with the provisions of California Civil Code 1542, below, which provides as follows: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:8%; font-size:10pt; font-family:Times New Roman"><B>A GENERAL RELEASE DOES NOT EXTEND TO
CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.</B> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">Employee, being aware of said code section, agrees to expressly waive any rights he may have thereunder, as well as under any statute or
common law principles of similar effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">8.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Pending or Future Lawsuits</U>. Employee represents that he has
no lawsuits, claims, or actions pending in his name, or on behalf of any other person or entity, against the Company or any other person or entity </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-14- </P>


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referred to herein. Employee also represents that he does not intend to bring any claims on his own behalf or on behalf of any other person or entity against the Company or any other person or
entity referred to herein, or as necessary to enforce the terms of this Agreement, the Employment Agreement or any equity award agreements entered into between the Company and Employee. The Company represents that neither it nor any of its
affiliates has any lawsuits, claims, or actions pending in its name, or on behalf of any other person or entity, against Employee. The Company represents that neither it nor any of its affiliates intend to bring any claims on its own behalf or on
behalf of any other person or entity against Employee. Notwithstanding the foregoing, the Company does not make any representations as to any shareholder derivative actions that may be brought against or otherwise involve Employee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">9.&nbsp;&nbsp;&nbsp;&nbsp;<U>Application for Employment</U>. Employee understands and agrees that, as a condition of this Agreement, he shall
not be entitled to any employment with the Company, its subsidiaries, or any successor, and he hereby waives any right, or alleged right, of employment or <FONT STYLE="white-space:nowrap">re-employment</FONT> with the Company. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">10.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Cooperation</U>. Subject to Section&nbsp;11 regarding Protected Activity, Employee agrees that he will not
counsel or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against the Company and/or any officer, director, employee, agent,
representative, shareholder or attorney of the Company, unless under a subpoena or other court order to do so. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">11.&nbsp;&nbsp;&nbsp;&nbsp;<U>Protected Activity Not Prohibited</U>. Employee understands that nothing in this Agreement shall in any way
limit or prohibit Employee from engaging in any Protected Activity, including filing a charge, complaint, or report with, or otherwise communicating, cooperating, or participating in any investigation or proceeding that may be conducted by, any
federal, state or local government agency or commission, including the Securities and Exchange Commission, the Equal Employment Opportunity Commission, the Occupational Safety and Health Administration, and the National Labor Relations Board
(&#147;Government Agencies&#148;). Employee understands that in connection with such Protected Activity, Employee is permitted to disclose documents or other information as permitted by law, without giving notice to, or receiving authorization from,
the Company. Notwithstanding the foregoing, Employee agrees to take all reasonable precautions to prevent any unauthorized use or disclosure of any information that may constitute Company confidential information under the Confidentiality Agreement
to any parties other than the Government Agencies. Employee further understands that &#147;Protected Activity&#148; does not include the disclosure of any Company attorney-client privileged communications or attorney work product. Any language in
the Confidentiality Agreement regarding Employee&#146;s right to engage in Protected Activity that conflicts with, or is contrary to, this section is superseded by this Agreement. In addition, pursuant to the Defend Trade Secrets Act of 2016,
Employee is notified that an individual will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i)&nbsp;is made in confidence to a federal, state, or local government
official (directly or indirectly) or to an attorney <I>solely</I> for the purpose of reporting or investigating a suspected violation of law, or (ii)&nbsp;is made in a complaint or other document filed in a lawsuit or other proceeding, if (and only
if) such filing is made under seal. In addition, an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the individual&#146;s attorney and use the trade secret
information in the court proceeding, if the individual files any document containing the trade secret under seal and does not disclose the trade secret, except pursuant to court order. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">12.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Admission of Liability</U>. Employee understands and acknowledges that this Agreement constitutes a
compromise and settlement of disputed claims. No action taken by the Company, either previously or in connection with this Agreement shall be deemed or construed to be (a)&nbsp;an admission of the truth or falsity of any claims heretofore made or
(b)&nbsp;an acknowledgment or admission by the Company of any fault or liability whatsoever to the Employee or to any third party. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">13.&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs</U>. The Parties shall each bear their own costs, expert fees, attorneys&#146; fees and other fees
incurred in connection with this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">14.&nbsp;&nbsp;&nbsp;&nbsp;<U>Arbitration</U>. The Parties agree that any and all disputes
arising out of the terms of this Agreement, their interpretation, and any of the matters herein released, including any potential claims of harassment, discrimination or wrongful termination shall be subject to binding arbitration, to the extent
permitted by law, as specified in the Proprietary Information Agreement (as defined in the Employment Agreement). </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-15- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">15.&nbsp;&nbsp;&nbsp;&nbsp;<U>Authority</U>. Employee represents and warrants that he has the
capacity to act on his own behalf and on behalf of all who might claim through him to bind them to the terms and conditions of this Agreement. The Company represents and warrants that (a)&nbsp;the Company&#146;s Board of Directors has duly and
validly authorized the execution, delivery and performance of this Agreement; and (b)&nbsp;the person signing this Agreement on behalf the Company has the necessary legal authority to execute this Agreement and bind the Company to the terms,
conditions, covenants, agreements, and obligations set forth in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">16.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Representations</U>.
Employee represents that he has had the opportunity to consult with an attorney, and has carefully read and understands the scope and effect of the provisions of this Agreement. Neither party has relied upon any representations or statements made by
the other party hereto which are not specifically set forth in this Agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">17.&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>. In the
event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect without said provision. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">18.&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire Agreement</U>. This Agreement, along with the Proprietary Information Agreement, Sections 8, 10, 12, 15
and 23 of the Employment Agreement, and Employee&#146;s written equity compensation agreements with the Company, represents the entire agreement and understanding between the Company and Employee concerning Employee&#146;s separation from the
Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">19.&nbsp;&nbsp;&nbsp;&nbsp;<U>No Oral Modification</U>. This Agreement may only be amended in writing signed by Employee and an
officer (other than the CEO) of the Company. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">20.&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing Law</U>. This Agreement shall be governed by the
internal substantive laws, but not the choice of law rules, of the State of California. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">21.&nbsp;&nbsp;&nbsp;&nbsp;<U>Effective Date</U>.
This Agreement is effective eight (8)&nbsp;days after it has been signed by both Parties. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">22.&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.
This Agreement may be executed in counterparts, and each counterpart shall have the same force and effect as an original and shall constitute an effective, binding agreement on the part of each of the undersigned. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">23.&nbsp;&nbsp;&nbsp;&nbsp;<U>Voluntary Execution of Agreement</U>. This Agreement is executed voluntarily and without any duress or undue
influence on the part or behalf of the Parties hereto, with the full intent of releasing all claims. The Parties acknowledge that: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;They have read this Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;They have been represented in the preparation, negotiation, and execution of this Agreement by legal counsel of
their own choice or that they have voluntarily declined to seek such counsel; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;They understand the terms and
consequences of this Agreement and of the releases it contains; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(d)&nbsp;&nbsp;&nbsp;&nbsp;They are fully aware of the legal and binding
effect of this Agreement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">-16- </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IN WITNESS WHEREOF, the Parties have executed this Agreement on the respective dates set forth below. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="3">Rambus Inc.</TD></TR>
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<TD VALIGN="top">Dated: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">By</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="3">Ronald Black, an individual</TD></TR>
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<TD VALIGN="top">Dated: &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;, 20&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
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<TD VALIGN="bottom" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;</P></TD></TR>
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