PIXELWORKS INC
EX-10.1
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<TYPE>EX-10.1
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<DESCRIPTION>EX-10.1
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit
10.1</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></p>

<p style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">FOURTH AMENDMENT TO LEASE</font></b></p>

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

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

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

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">THIS AGREEMENT</font></b><font size="2" style="font-size:10.0pt;">, dated for reference
purposes only, June 23, 2003, is made by and between Union Bank of California,
N.A., as Successor in Interest to Copper Mountain Trust Corporation, Trustees,
for <b><font style="font-weight:bold;">Quest
Group Trust VI</font></b> (&#147;Landlord&#148;), and <b><font style="font-weight:bold;">Pixelworks, Inc., an Oregon Corporation</font></b>
(&#147;Tenant&#148;).</font></p>

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

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

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">RECITALS:</font></b></p>

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

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A.</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">The parties hereto entered into a Lease
dated May 1, 1998, and amended by Addendum A dated May 1, 1998 and First
Amendment to Lease dated August 11, 2000, and Second Amendment to Lease dated
January 24, 2001, and Third Amendment to Lease dated March 1, 2002 (the
&#147;Lease&#148;), for certain real property commonly known as Suite 207, 4,671 rentable
square feet, Suite 111, 997 rentable square feet, Suite 110, 1,742 rentable square
feet, Suite 107, 1,910 rentable square feet, Suite 105, 1,374 rentable square
feet, and Suite 100, 3,029 rentable square feet, for a total of 13,696 rentable
square feet, known as the &#147;Premises&#148;, located in Lakeside Center, a Class A
office building described as 8100 S.W. Nyberg Road, Tualatin, Oregon 97062.</font></p>

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

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">B.</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">The parties desire to amend certain
provisions thereof.</font></p>

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

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

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-indent:-.5in;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOW, THEREFORE</font></b><font size="2" face="Times New Roman" style="font-size:10.0pt;">, the parties hereto hereby agree as
follows:</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">1.</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Effective October 1, 2003, Tenant and
Landlord agree to extend the lease term for an additional 12 months, through
September 30, 2004.&#160; The base rent for
the Premises (13,696 rentable square feet) shall be $22.00 per rentable square
foot per year or $25,109.00 per month through September 30, 2004.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2.</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tenant will lease the Premises in &#147;as is&#148;
condition.&#160; Any tenant improvements to
the Premises would be at Tenant&#146;s cost with Landlord approval.&#160; Any tenant improvement construction work
must be performed by a contractor signatory to the construction unions.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tenant&#146;s base year for operating expenses
for the Premises shall continue to be calendar year 2002.&#160; Prorata share of operating expenses for the
Premises shall be 24.72%.</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt 1.0in;text-align:left;text-indent:-.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4.</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">Landlord does not pay a broker fee on the
Premises lease extensions.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .75in;text-align:left;text-indent:-.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5.</font><font size="1" face="Times New Roman" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font size="2" face="Times New Roman" style="font-size:10.0pt;">As amended by this Fourth Amendment to
Lease, the Lease shall remain in full force and effect, including all items in
the Fourth Amendment to Lease now signed.</font></p>

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

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

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">IN WITNESS WHEREOF</font></b><font size="2" face="Times New Roman" style="font-size:10.0pt;">, the parties hereto have executed this
Lease Amendment.</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="left" style="margin:0in 0in .0001pt .5in;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Tahoma;width:100.0%;">
 <tr>
  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.58%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">LANDLORD:</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.78%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="37%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:37.32%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">TENANT:</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.32%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.58%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Union
  Bank of California, N.A., as Trustee</font></b></p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.78%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="45%" colspan="3" valign="top" style="padding:0in .7pt 0in .7pt;width:45.64%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Pixelworks,
  Inc., an Oregon Corporation</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.58%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">for
  Quest Group Trust VI</font></b></p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.78%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.66%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.66%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.32%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.58%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.78%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.66%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="31%" valign="top" style="padding:0in .7pt 0in .7pt;width:31.66%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.32%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
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  <td width="4%" valign="top" style="padding:0in .7pt 0in .7pt;width:4.52%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="38%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:38.06%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;/s/
  Tim West</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.78%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.66%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By: </font></p>
  </td>
  <td width="31%" valign="top" style="border:none;border-bottom:solid windowtext .5pt;padding:0in .7pt 0in .7pt;width:31.66%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160;/s/
  Hans Olsen</font></p>
  </td>
  <td width="8%" valign="top" style="padding:0in .7pt 0in .7pt;width:8.32%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
 </tr>
 <tr>
  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.58%;">
  <p align="left" style="margin:0in 0in .0001pt 30.0pt;text-align:left;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Tim
  West, Vice President</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.78%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="5%" valign="top" style="padding:0in .7pt 0in .7pt;width:5.66%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:39.98%;">
  <p align="left" style="margin:0in 0in .0001pt 20.0pt;text-align:left;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#160; Hans Olsen, Executive Vice President</font></p>
  </td>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt 30.0pt;text-align:left;text-indent:-10.0pt;">&nbsp;</p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.78%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
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  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="39%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:39.98%;">
  <p align="left" style="font-size:12.0pt;margin:0in 0in .0001pt 20.0pt;text-align:left;text-indent:-10.0pt;">&nbsp;</p>
  </td>
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  <td width="42%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:42.58%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: 7/11/03</font></p>
  </td>
  <td width="11%" valign="top" style="padding:0in .7pt 0in .7pt;width:11.78%;">
  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
  </td>
  <td width="37%" colspan="2" valign="top" style="padding:0in .7pt 0in .7pt;width:37.32%;">
  <p align="left" style="margin:0in 0in .0001pt;text-align:left;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: 6/30/03</font></p>
  </td>
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  <p align="left" style="font-size:1.0pt;margin:0in 0in .0001pt;text-align:left;">&nbsp;</p>
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