Addendum to Change in Control Agreement between Pixelworks, Inc. and Employee (May 20, 2014)

Contract Categories: Human Resources › Change of Control Agreements
Summary

This addendum amends an existing change in control agreement between Pixelworks, Inc. and the employee. It increases the accelerated vesting provision so that, if the employee is involuntarily terminated within 6 months before or 12 months after a change in control, all unvested equity awards will fully vest. The amendment is effective upon the employee's countersignature and return of the letter.

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EX-10.1 2 moorecocex101.htm ADDENDUM Moore CoC Ex. 10.1


Exhibit 10.1


May 20, 2014


Re:    Amendment to Change in Control Agreement
Dear:
The Compensation Committee of the Board of Directors of Pixelworks, Inc. (the “Company”) has approved the amendment of your existing change in control agreement with the Company dated __________, as amended by letter dated __________ (the “Agreement”).
This letter, when countersigned and returned by you, will constitute an amendment of the Agreement to increase the provision for accelerated vesting from the existing 12 months of additional vesting to full 100% acceleration of vesting for all then-unvested equity awards held by you in the event of an Involuntary Termination (as defined the Agreement) of your employment with the Company within 6 months before, or on or within 12 months following, a Change of Control of the Company (as defined in the Agreement).
If you agree to amend your Agreement as set forth herein, please countersign below and return this letter to Steve Moore. You may do so by PDF, fax, or hard copy.

Very truly yours,
Pixelworks, Inc.
By:
 
Bruce Walicek, Chief Executive Officer

Accepted:
 
Print name:
 
Date:
May 20, 2014