X0303 4 2011-01-31 1 0001030471 UTSTARCOM INC UTSI 0001486123 Lu Ying (Jack) 52-2 BLDG., BDA INT'L ENTERPRISE AVE. #2 JINGYUAN NORTH ST., DAXING DISTRICT BEIJING F4 100176 CHINA 1 1 0 0 CEO & President Common Stock 2011-01-31 4 A 0 300000 0 A 564122 D Common Stock 2011-06-24 4 J 0 564122 0 D 0 D Restricted Stock Units 2011-01-31 4 A 0 300000 0 A Common Stock 300000 300000 D Stock Option (right to buy) 2.1 2011-01-31 4 A 0 400000 0 A 2018-01-31 Common Stock 400000 400000 D Restricted Stock Units 2011-06-24 4 J 0 300000 0 D Common Stock 300000 0 D Stock Option (right to buy) 2.1 2011-06-24 4 J 0 400000 0 D 2018-01-31 Common Stock 400000 0 D Mr. Lu was awarded 300,000 shares of restricted common stock which will vest over a four (4) year period. 25% of the total shares shall vest annually starting on January 31, 2012, subject to Mr. Lu's continuing service to the Company through each applicable vesting date. Each restricted stock unit represents a contingent right to receive one share of UTStarcom, Inc. common stock. Mr. Lu was awarded 300,000 restricted stock units which will vest over a four (4) year period. 25% of the total shares shall vest annually starting on January 31, 2012, subject to Mr. Lu's continuing service to the Company through each applicable vesting date. Vested shares shall be automatically issued to Mr. Lu on the vesting date. Mr. Lu was awarded an option to purchase up to 400,000 shares of UTStarcom, Inc. common stock. 25% of the shares subject to the option shall vest on January 31, 2012 and 1/36 of the remaining shares subject to the option shall vest on the last day of each month thereafter. In connection with the reorganization of the corporate structure of the group of companies controlled by UTStarcom, Inc. to change its place of incorporation from Delaware to the Cayman Islands, each outstanding share of UTStarcom, Inc. common stock was converted into the right to receive the same number of ordinary shares in the capital of UTStarcom Holdings Corp., a Cayman Islands company. In addition, all outstanding equity awards of UTStarcom, Inc. were assumed by UTStarcom Holdings Corp. to provide for the issuance of UTStarcom Holdings Corp. ordinary shares rather than UTStarcom, Inc. common stock upon the exercise or conversion of such awards. /s/Linda Lee, Attorney-in-Fact on behalf of Ying (Jack) Lu 2011-07-08