Executive Agreement

Exhibit 10.1

iRobot Corporation
8 Crosby Drive
Bedford, MA 01730

This Executive Agreement (the “ Agreement ”), by and among iRobot Corporation, a Delaware corporation (the “Company”), and the executive named below (“ Executive ”), sets forth the terms and conditions by which the Company will provide certain benefits for Executive under certain circumstances in the event of a termination of Executive’s employment with the Company. The effective date of this Agreement shall be the date of last execution as set forth below (the “ Execution Date ”).

      WHEREAS , Executive currently is an employee of the Company and an Officer (as hereinafter defined), and is expected to make significant contributions to the business, growth and financial strength of the Company;

      WHEREAS , the Company recognizes that the uncertainty regarding the consequences of a termination of Executive’s employment as an Officer of the Company may adversely affect the Company’s ability to retain Executive;

      WHEREAS , the Company further recognizes that, as is the case for most publicly-held companies, the possibility of a Change in Control (as hereinafter defined) exists, which may alter the nature and structure of the Company, and that the uncertainty regarding the consequences of such an event may adversely affect the Company’s ability to retain Executive as an Officer;

      WHEREAS , the Company desires to more closely align Executive’s interests with those of the shareholders of the Company with respect to any Change in Control that may benefit the shareholders;

      WHEREAS , the Company desires to assure itself of both present and future continuity of management in the event of a Change in Control by establishing certain benefits for Executive applicable under certain circumstances in the event of a Change in Control; and

      WHEREAS , the parties desire to set forth in writing the terms and conditions of their agreement with respect to the provision of benefits for Executive applicable under certain circumstances in the event of a Change in Control;

      NOW, THEREFORE, in consideration of the premises and the mutual covenants and obligations herein contained, it is agreed among the parties hereto as follows:

     1.  Term . This Agreement shall continue for a term commencing on the Execution Date and ending on the date two years thereafter (“Initial Term”), and shall be automatically renewed from year to

year thereafter for successive one-year terms (each a “Renewal Term”) unless ninety (90) days prior to the expiration of the initial term or any renewal term, a party gives written notice of non-renewal to the other party; provided that any such notice provided by the Company any time during the period beginning on the date that is forty-five (45) days prior to the date upon which a definitive agreement for a Change in Control is publicly announced as having been executed by the Company (the “ Announcement Date ”) and ending on the first anniversary of the effective date of a Change in Control, shall have no effect whatsoever, and the Agreement shall continue in force until such time as otherwise terminated in accordance with the terms hereof. If an effective notice of non-renewal is given as permitted hereunder, this Agreement will expire at the conclusion of either the Initial Term or the Renewal Term, whichever is applicable, unless terminated earlier as permitted by Section 2 hereof. The “Term” of this Agreement shall include the Initial Term, as well as any Renewal Term, if applicable, subject to termination at any time prior to the expiration of the Term as provided in Section 2 hereof; provided , however , that in the event of the first Change in Control to occur during the Term (including after any notice of non-renewal is given), the Term shall automatically continue through the first anniversary of the effective date of such Change in Control.

     2.  At-Will Status . Notwithstanding any provision of this Agreement, Executive will remain employed at-will, so that Executive or the Company may terminate Executive’s employment at any time, with or without notice, for any or no reason, and this Agreement shall not create or imply any right or duty of Executive or the Company to have Executive remain in the employ thereof for any period of time. This Agreement shall automatically terminate on the earliest date of: (a) Executive’s Termination Date (as hereinafter defined) if Executive’s employment ceases for any reason other than due to an Involuntary Termination Upon a Change in Control or a Resignation for Good Reason Upon a Change in Control (as such terms are hereinafter defined); or (b) the date immediately following the one-year anniversary of the effective date of the first Change in Control to occur during the Term; provided, that, notwithstanding any provision in this Agreement to the contrary, if Executive’s employment is terminated by the Company prior to a Change in Control for any reason other than for Cause, death or Disability (as hereinafter defined) or ceases due to an Involuntary Termination Upon a Change in Control or a Resignation for Good Reason Upon a Change in Control, this Agreement shall remain in effect until all obligations of the parties hereunder have been fully satisfied.

     3.  Definitions . As used in this Agreement, the following terms shall have the meanings set forth herein:

          a. “ Cause ” shall mean any one or more of the following: (i) Executive’s failure or refusal to perform his/her duties on behalf of the Company or Executive’s unsatisfactory performance (except due to Disability) for a period of thirty (30) days after receiving written notice identifying in reasonable detail the nature of such failure, refusal or unsatisfactory performance; (ii) Executive’s commission of a felony or misdemeanor involving deceit, dishonesty or fraud; (iii) disloyalty, willful misconduct or breach of fiduciary duty by Executive; or (iv) Executive’s violation of any confidentiality, developments or non-competition agreement or any written employment polices related to conduct such as harassment or any code of conduct. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for Cause unless and until there shall have been delivered to him a copy of a resolution duly adopted by the Company’s Board of Directors (the “ Board ”) (excluding Executive if he is a Director) at a meeting of the Board called and held for (but not necessarily exclusively for) that purpose (after reasonable notice to Executive and an opportunity for Executive to be heard by the Board) finding that Executive has, in the good faith opinion of the Board, engaged in conduct constituting Cause and specifying the particulars thereof in reasonable detail.

          b. “ Change in Control ” shall mean the occurrence of any of the following events:

               (i) The Company is merged or consolidated or reorganized into or with another corporation or other legal person, and as a result of such merger, consolidation or reorganization less than fifty percent (50%) of the combined voting power of the then-outstanding securities of such surviving, resulting or reorganized corporation or person immediately after such transaction is held in the aggregate by the holders of the then-outstanding securities entitled to vote generally in the election of directors of the Company (“ Voting Stock ”) immediately prior to such transaction;

               (ii) The Company sells or otherwise transfers all or substantially all of its assets to any other corporation or other legal person, and as a result of such sale or transfer less than fifty percent (50%) of the combined voting power of the then-outstanding securities of such corporation or person immediately after such sale or transfer is held in the aggregate by the holders of Voting Stock of the Company immediately prior to such sale or transfer;

               (iii) Any corporation or other legal person, pursuant to a tender offer, exchange offer, purchase of stock (whether in a market transaction or otherwise) or other transaction or event acquires securities representing 30% or more of the Voting Stock of the Company, or there is a report filed on Schedule 13D or Schedule 14D-1 (or any successor schedule, form or report), each as promulgated pursuant to the U.S. Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), disclosing that any “person” (as such term is used in Section 13(d)(3) or Section 14(d)(2) of the Exchange Act) has become the “beneficial owner” (as such term is used in Rule 13d-3 under the Exchange Act) of securities representing 30% or more of the Voting Stock of the Company;

               (iv) The Company files a report or proxy statement with the Securities and Exchange Commission pursuant to the Exchange Act disclosing under or in response to Form 8-K or Schedule 14A (or any successor schedule, form or report or item therein) that a change in control of the Company has occurred; or

               (v) If during any period of two consecutive years, individuals who at the beginning of any such period constitute the Board cease for any reason to constitute at least a majority thereof, unless the election, or the nomination for election by the Company’s stockholders, of each director of the Company first elected during such period was approved by a vote of at least a majority of the directors then still in office who were directors of the Company at the beginning of any such period;

provided , however , that a “Change in Control” shall not be deemed to have occurred for purposes of this Agreement solely because (i) the Company, (ii) an entity in which the Company directly or indirectly beneficially owns 50% or more of the Voting Stock, or (iii) any Company-sponsored employee stock ownership plan or any other employee benefit plan of the Company, either files or becomes obligated to file a report or a proxy statement under or in response to Schedule 13D, Schedule 14D-1, Form 8-K or Schedule 14A (or any successor schedule, form or report) under the Exchange Act, disclosing beneficial ownership by it of shares of Voting Stock or because the Company reports that a change in control of the Company has occurred by reason of such beneficial ownership.

          c. “ Company ” shall mean iRobot Corporation, its assigns, and its Successors.

          d. “ Disability ” shall mean any physical or mental disability that renders Executive unable to perform his/her essential job responsibilities for a cumulative period of 180 days in any twelve-month period, where such disability cannot be reasonably accommodated absent undue hardship.

          e. “ Executive Office ” shall mean those offices of the Company domiciled in the United States that the Board in its reasonable discretion may designate from time to time as constituting an officer position pursuant to Section 16 of the Exchange Act and/or such other officers of the Company

as the Board shall designate from time to time. Any person holding an Executive Office shall be an “ Officer .”

          f. “ Incentive Pay Eligibility ” shall mean the aggregate amount of any cash compensation derived from any bonus, incentive, performance, profit-sharing or similar agreement, policy, plan or arrangement of the Company that Executive is eligible to receive based upon the attainment of 100% target or quota with respect to any one year.

          g. “ Involuntary Termination Upon a Change in Control ” shall mean the termination of the employment of Executive by the Company without Cause at any time within the period beginning on the date that is forty-five (45) days prior to the Announcement Date and ending on the first anniversary of the effective date of a Change in Control. “Involuntary Termination Upon Change in Control” shall not include any termination of Executive’s employment (a) for Cause; (b) as a result of Executive’s Disability; (c) as a result of Executive’s death; or (d) by Executive for any reason.

          h. “ Resignation for Good Reason Upon a Change in Control ” shall occur in the event the Executive resigns from his employment because the occurrence of any of the following “Events” without Executive’s prior written consent during the one-year period beginning on the effective date of a Change in Control and provided Executive provides notice specified below:

               (i) The substantial reduction of (1) Executive’s aggregate base salary, (2) Executive’s Incentive Pay Eligibility, or (3) the benefits for which Executive was eligible, in each case, in effect immediately prior to a Change in Control; unless, however, in the case of subclause (3) only, such reduction is due to an across-the-board reduction applicable to all senior executives of the Company and any Successor, and the benefits available to Executive after such across-the-board reduction are no less favorable than those available to similarly-situated executives of the Company and such Successor;

               (ii) A material diminution in Executive’s responsibilities, authority or duties;

               (iii) The permanent relocation of Executive’s primary workplace to a location more than thirty (30) miles away from Executive’s workplace in effect immediately prior to a Change in Control; or

               (iv) Failure of any Successor to, or assignee of, the Company to assume the duties and obligations of the Company under this Agreement pursuant to Section 13 hereof; and

(x) Within sixty (60) days after the first occurrence of any such Event, Executive provides written notice to the Company describing with reasonable specificity the Event and stating his/her intention to resign from employment due to such Event, (y) Executive cooperates in good faith with the Company’s efforts, for a period not less than thirty (30) days following such notice (the “Cure Period”) to remedy such Event; and (z) Executive terminates his employment because of the Event within sixty (60) days after the end of the Cure Period. If the Company cures an Event during the Cure Period, such Event shall be deemed not to have occurred.

          j. “ Severance Benefits ” shall mean:

               (i) paymen