Current assets

EX-10.1 2 v32563exv10w1.htm EXHIBIT 10.1 exv10w1
 

Exhibit 10.1
     
 
  Pixelworks, Inc.
Notice of Grant of Award
  ID: 91-1761992
and Award Agreement
  8100 SW Nyberg Road
 
  Tualatin, OR 97062
         
Hans Olsen
  Award Number:   N0003188
8100 SW Nyberg Rd
  Plan:   2006
Tualatin, OR USA 97062
        
Effective 5/3/2007, you have been granted an award of 150,000 shares of Pixelworks, Inc. (the Company) common stock. These shares are restricted until the vest date(s) shown below.
The current total value of the award is $213,000.
The award will vest in increments on the date(s) shown, except as described below.
                                         
Shares   Full Vest   Shares   Full Vest   Shares   Full Vest
4,167
     6/30/2007       4,167       6/30/2008       4,166       6/30/2009  
4,167
     7/31/2007       4,167       7/31/2008       4,167       7/31/2009  
4,167
     8/31/2007       4,167       8/31/2008       4,166       8/31/2009  
4,166
     9/30/2007       4,166       9/30/2008       4,166       9/30/2009  
4,167
     10/31/2007       4,167       10/31/2008       4,167       10/31/2009  
4,167
     11/30/2007       4,167       11/30/2008       4,166       11/30/2009  
4,167
     12/31/2007       4,167       12/31/2008       4,166       12/31/2009  
4,167
     1/31/2008       4,167       1/31/2009       4,167       1/31/2010  
4,167
     2/29/2008       4,167       2/28/2009       4,166       2/28/2010  
4,166
     3/31/2008       4,166       3/31/2009       4,166       3/31/2010  
4,167
     4/30/2008       4,167       4/30/2009       4,167       4/30/2010  
4,167
     5/31/2008       4,167       5/31/2009       4,166       5/31/2010  
Vesting accelerates on termination of Mr. Olsen with out cause, or by Mr. Olsen with good reason, within three years following an agreement on change in control of the Company, so the shares subject to this Award Agreement are immediately vested. Termination for “good reason” means if Mr. Olsen has seen his responsibilities, duties, position or responsibilities reduced, his base salary reduced his place of employment moved more than 50 miles, or if a successor does not assumes the obligations of this Award Agreement.
By your signature and the Company’s signature below, you and the Company agree that this award is granted under and governed by the terms and conditions of the Company’s 2006 Incentive Stock Plan and the Award Agreement, all of which are attached and made a part of this document.
         
 
       
Pixelworks, Inc.
      Date
 
        
     
Hans Olsen
      Date