INTERSIL CORP/DE
FORM OF SEVERANCE BENEFITS AGMT - CERTAIN EXECUTIVES
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<TYPE>EX-10.6
<SEQUENCE>9
<FILENAME>dex106.htm
<DESCRIPTION>FORM OF SEVERANCE BENEFITS AGMT - CERTAIN EXECUTIVES
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<TITLE>Prepared by R.R. Donnelley Financial -- Form of Severance Benefits Agmt - certain executives</TITLE>
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  <p align=right><font size=2><b>Exhibit 10.6 </b></font></p> <p align=center><font size=2><b> EXECUTIVE </b><br><b> CHANGE IN CONTROL </b><br><b> SEVERANCE BENEFITS AGREEMENT </b></font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> THIS EXECUTIVE CHANGE IN CONTROL SEVERANCE BENEFITS AGREEMENT </b> (the <b> &#147;AGREEMENT&#148; </b>) is entered into on ____________2002, between ______________
(&#147;Executive&#148;) and <b> INTERSIL CORPORATION </b>, a Delaware corporation (the <b> &#147;COMPANY&#148; </b>).</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> WHEREAS </b>,
under the Agreement and Plan of Merger (the &#147;Merger Agreement&#148;) dated March 10, 2002, by and among the Company, Echo Acquisition, Inc. and Elantec Semiconductor, Inc. (&#147;Elantec&#148;), the Company has agreed to acquire Elantec
pursuant to the Merger (as defined in the Merger Agreement) on the terms and conditions set forth in the Merger Agreement; and</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> WHEREAS
</b>, this Agreement is intended to provide Executive with the compensation and benefits described herein upon the occurrence of specific events after the Merger.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> NOW THEREFORE </b>, The Company and Executive hereby agree as follows:</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain capitalized terms used in this Agreement are defined in Article VI.</font></p> <p align=center><font size=2><b> ARTICLE I </b><br><b> EMPLOYMENT BY THE COMPANY
</b></font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 1.1 </b>&nbsp;&nbsp;&nbsp;Executive is currently employed as an executive of the Company.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 1.2 </b>&nbsp;&nbsp;&nbsp;This Agreement shall be deemed effective at the Effective Time (as defined in the Merger Agreement) of the Merger and shall remain in full
force and effect so long as Executive is employed by Company or its subsidiaries; provided, however, that the rights and obligations of the parties hereto contained in Articles II through VII shall survive Two and One Half (2-1/2) years following a
Covered Termination (as hereinafter defined). Notwithstanding the foregoing, if the Closing (as defined in the Merger Agreement) of the Merger does not occur and the Merger Agreement is terminated, this Agreement shall have no force or effect and
shall be void ab initio.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 1.3 </b>&nbsp;&nbsp;&nbsp;The Company and Executive wish to set forth the compensation and benefits which
Executive shall be entitled to receive in connection with the Merger or if Executive&#146;s employment with the Company terminates following the Merger or a Change in Control under the circumstances described in Article II of this
Agreement.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 1.4 </b>&nbsp;&nbsp;&nbsp;The duties and obligations of the Company to Executive under this Agreement shall be in
consideration for Executive&#146;s past services to the Company, Executive&#146;s continued</font></p> <CENTER> </CENTER>

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  <p align=left><font size=2>employment with the Company and Executive&#146;s execution of the general waiver and release described in Section 3.2.</font></p> <p align=center><font size=2><b> ARTICLE II </b><br><b>
SEVERANCE BENEFITS </b></font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 2.1 </b>&nbsp;&nbsp;&nbsp;<b> Entitlement To Severance Benefits. </b>If Executive&#146;s employment terminates
due to an Involuntary Termination or a Voluntary Termination for Good Reason (as hereinafter defined) within twelve (12) months following the Closing Date (as defined in the Merger Agreement) of the Merger or the effective date of a Change in
Control, the termination of employment will be a Covered Termination and the Company shall pay Executive the compensation and benefits described in this Article II. If Executive&#146;s employment terminates, but not due to an Involuntary Termination
or a Voluntary Termination for Good Reason within twelve (12) months following the Closing Date of the Merger or the effective date of a Change in Control, then the termination of employment will <i> not </i> be a Covered Termination and Executive
will <i> not </i> be entitled to receive any payments or benefits under this Article II.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment of any benefits described in this Article
II shall be subject to the restrictions and limitations set forth in Article III of this Agreement.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 2.2 </b>&nbsp;&nbsp;&nbsp;<b> Lump
Sum Severance Payment. </b>The Company shall pay to the Executive his base pay through the Date of Covered Termination at the rate in effect at the time Notice of Termination is given, subject to any applicable withholding of federal, state or local
taxes, plus (i) that portion of Executive&#146;s targeted cash bonus prorated through the Date of Covered Termination, and (ii) all other amounts to which Executive is entitled under any compensation plan or practice of the Company at the time such
payments are due. In addition, within thirty (30) days following a Covered Termination, Executive shall receive a lump sum payment equal to one hundred percent (100%) of the sum of Annual Base Pay and Annual Bonus, subject to any applicable
withholding of federal, state or local taxes.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 2.3 </b>&nbsp;&nbsp;&nbsp;<b> Welfare Benefits. </b>Following a Covered Termination,
Executive and his covered dependents will be eligible to continue their Welfare Benefits coverage under any Welfare Benefits plan or program maintained by the Company on the same terms and conditions (including cost to Executive) as in effect
immediately prior to the Covered Termination, for a period of one (1) year following the Covered Termination.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;With respect to any Welfare
Benefits provided through an insurance policy, the Company&#146;s obligation to provide such Welfare Benefits following a Covered Termination shall be limited by the terms of such a policy; provided that (i) the Company shall make reasonable efforts
to amend such policy to provide the continued coverage described in this Section 2.3, and (ii) if a policy providing health benefits is not amended to provide the continued benefits described in this Section 2.3, the Company shall pay for the cost
of comparable replacement coverage (or Medigap insurance if Executive qualifies for Medicare) until the end of the one (1) year period following the Covered Termination.</font></p> <CENTER><font size=2>- 2 -</font></CENTER>

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 <BR> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company shall reimburse Executive for any income tax liability due as a result of the provision of Welfare
Benefits under this Article II (and as a result of any payments due under this paragraph) in order to put Executive in the same after-tax position as if no taxable Welfare Benefits had been provided.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Section 2.3 is not intended to affect, nor does it affect, the rights of Executive, or Executive&#146;s covered dependents, under any applicable law with respect to
health insurance continuation coverage.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 2.4 </b>&nbsp;&nbsp;&nbsp;<b> Retention Bonus. </b> If Executive is still employed by the
Company or its subsidiaries on the one (1) year anniversary of the Closing Date of the Merger, the Company shall pay Executive on such date a lump sum payment equal to 50% of Executive&#146;s estimated or projected annual cash incentive bonus at
target for the fiscal year in which the one (1) year anniversary of the Closing Date of the Merger occurs, subject to any applicable withholding of federal, state or local taxes.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 2.5 </b>&nbsp;&nbsp;&nbsp;<b> Mitigation. </b>Except as otherwise specifically provided herein, Executive shall not be required to mitigate damages or the amount of
any payment provided under this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for under this Agreement be reduced by any compensation earned by Executive as a result of employment by another
employer or by retirement benefits after the date of the Covered Termination, or otherwise.</font></p> <p align=center><font size=2><b> ARTICLE III </b><br><b> LIMITATIONS AND CONDITIONS ON BENEFITS </b></font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 3.1 </b>&nbsp;&nbsp;&nbsp;<b> Withholding of Taxes. </b>The Company shall withhold appropriate federal, state or local income and employment taxes from any payments
hereunder.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 3.2 </b>&nbsp;&nbsp;&nbsp;<b> Employee Agreement and Release Prior to receipt of Benefits. </b>Upon the occurrence of a
Covered Termination, and prior to the receipt of any benefits under this Agreement on account of the occurrence of a Covered Termination, Executive shall, as of the date of a Covered Termination, execute an employee agreement and release in the form
attached hereto as <u> Exhibit A </u>. Such employee agreement and release shall specifically relate to all of Executive&#146;s rights and claims in existence at the time of such execution and shall confirm Executive&#146;s obligations under the
Company&#146;s standard form of proprietary information agreement. It is understood such employee release and agreement shall comply with applicable law. In the event Executive does not execute such release and agreement within the period required
by applicable law, or if Executive revokes such employee agreement and release within the period permitted by applicable law, no benefits shall be payable under this Agreement and this Agreement shall be null and void.</font></p> <CENTER><font
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 <BR> <p align=center><font size=2><b> ARTICLE IV </b><br><b> OTHER RIGHTS AND BENEFITS </b></font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 4.1
</b>&nbsp;&nbsp;&nbsp;<b> Nonexclusivity. </b>Nothing in this Agreement shall prevent or limit Executive&#146;s continuing or future participation in any benefit, bonus, incentive or other plans, programs, policies or practices provided by the
Company and for which Executive may otherwise qualify, nor shall anything herein limit or otherwise affect such rights as Executive may have under any stock option or other agreements with the Company. Except as otherwise expressly provided herein,
amounts which are vested benefits or which Executive is otherwise entitled to receive under any plan, policy, practice or program of the Company at or subsequent to the date of a Covered Termination shall be payable in accordance with such plan,
policy, practice or program.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 4.2 </b>&nbsp;&nbsp;&nbsp;<b> Parachute Payments. </b>In the event that any amount or benefit received or
to be received by Executive pursuant to this Agreement (other than payment pursuant to this Section 4.2) would constitute an &#147;excess parachute payment&#148; subject to excise tax under Section 4999 of the Code, the Company shall pay to
Executive the amount of any such excise tax; provided, however, that no payment shall be made under this Section 4.2 to the extent that it would reduce Executive&#146;s after-tax income.</font></p> <p align=center><font size=2><b> ARTICLE V
</b><br><b> NON-ALIENATION OF BENEFITS </b></font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No benefit hereunder shall be subject to anticipation, alienation, sale, transfer, assignment,
pledge, encumbrance or charge, and any attempt to so subject a benefit hereunder shall be void.</font></p> <p align=center><font size=2><b> ARTICLE VI </b><br><b> DEFINITIONS </b></font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For purposes of the Agreement, the following terms shall have the meanings set forth below:</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.1 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Agreement&#148; </b> means this Executive Change in Control Severance Benefits Agreement.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.2 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Annual Base Pay&#148; </b> means Executive&#146;s annual base pay at the rate in effect during the last regularly scheduled
payroll period immediately preceding (i) the Merger or Change in Control, as applicable, or (ii) the Covered Termination, whichever is greater.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.3 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Annual Bonus&#148; </b> means the Executive&#146;s projected or estimated annual cash incentive bonus at target for the fiscal
year of the Company in which termination of Executive&#146;s employment occurs.</font></p> <CENTER><font size=2>- 4 -</font></CENTER>

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 <BR> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.4 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Change in Control&#148; </b> means the consummation of any of the
following transactions after the Effective Time of the Merger:</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>
(a) </b>&nbsp;&nbsp;&nbsp;the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of the Company outstanding
immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least fifty percent (50%) of the total voting power represented by the voting securities of
the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of liquidation or dissolution of the Company or an agreement for the sale, lease, exchange or other
transfer or disposition by the Company of all or substantially all (more than fifty percent (50%)) of the Company&#146;s assets;</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (b) </b>&nbsp;&nbsp;&nbsp;any person (as such term is used in Sections 13(d) of the Securities
Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;)), is or becomes the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) directly or indirectly of 25% or more of the Company&#146;s outstanding Common Stock;
or</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (c) </b>&nbsp;&nbsp;&nbsp;a change in the composition of the
Board of Directors of the Company within a three (3) year period, as a result of which fewer than a majority of the directors are Incumbent Directors. &#147;Incumbent Directors&#148; shall mean directors who either:</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (A)
</b>&nbsp;&nbsp;&nbsp;are directors of the Company at the Effective Time;</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (B)
</b>&nbsp;&nbsp;&nbsp;are elected, or nominated for election, to the Board of Directors of the Company with the affirmative votes of at least a majority of the directors of the Company who are Incumbent Directors described in (A) above at the time
of such election or nomination; or</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (C)
</b>&nbsp;&nbsp;&nbsp;are elected, or nominated for election, to the Board of Directors of the Company with the affirmative votes of at least a majority of the directors of the Company who are Incumbent Directors described in (A) or (B) above at the
time of such election or nomination.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding the foregoing, &#147;Incumbent Directors&#148; shall not include an individual whose
election or nomination is in connection with an actual or threatened proxy contest relating to the election of directors to the Company.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.5 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Company&#148; </b> means Intersil Corporation, a Delaware corporation, and any successor thereto.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.6 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Covered Termination&#148; </b> means an Involuntary Termination or a Voluntary Termination for Good Reason within twelve (12)
months following (i) the Merger or (ii) a Change in Control after the Effective Time of the Merger. No other event shall be a Covered Termination for purposes of this Agreement.</font></p> <CENTER><font size=2>- 5 -</font></CENTER>

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 <BR> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.7 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Date of Covered Termination&#148; </b> means the first date following the
last date of Executive&#146;s employment with the Company or its subsidiaries as a result of a Covered Termination.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.8
</b>&nbsp;&nbsp;&nbsp;<b> &#147;Date of Notice of Termination&#148; </b> means the date the Executive is given notice, either verbal or written, that his employment with the Company or its subsidiaries has been or will be terminated.</font></p> <p
align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.9 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Involuntary Termination&#148; </b> means Executive&#146;s dismissal or discharge by the Company or its
subsidiaries (or, if applicable, by the successor entity) for reasons other than fraud, misappropriation or embezzlement on the part of Executive which resulted in material loss, damage or injury to the Company. Notwithstanding the foregoing,
Executive shall not be deemed to have been terminated for one of these reasons unless and until there shall have been delivered to Executive a copy of a resolution, duly adopted by the affirmative vote of not less than three-quarters of the entire
membership of the Company&#146;s Board of Directors at a meeting of the Board called and held for the purpose (after reasonable notice to Executive and an opportunity for the Executive, together with Executive&#146;s counsel, to be heard before the
Board of Directors), finding that in the good faith opinion of the Board of Directors, Executive was guilty of conduct set forth in the immediately preceding sentence and specifying the particulars thereof in detail.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The termination of an Executive&#146;s employment would not be deemed to be an &#147;Involuntary Termination&#148; if such termination occurs as a result of the death or
disability of Executive.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.10 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Voluntary Termination for Good Reason&#148; </b> means that the Executive
voluntarily terminates his employment after any of the following are undertaken without Executive&#146;s express written consent:</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (a) </b>&nbsp;&nbsp;&nbsp;the assignment to Executive of any duties or responsibilities which
result in any diminution or adverse change of Executive&#146;s position, status or circumstances of employment as in effect immediately prior to the Merger or a Change in Control of the Company; any removal of Executive from or any failure to
reelect Executive to any of such positions, except in connection with the termination of his employment for death, disability, retirement, fraud, misappropriation, embezzlement or any other voluntary termination of employment by Executive other than
Voluntary Termination for Good Reason;</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (b)
</b>&nbsp;&nbsp;&nbsp;a reduction by the Company in Executive&#146;s Annual Base Pay or targeted annual cash incentive bonus in effect at the time;</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (c) </b>&nbsp;&nbsp;&nbsp;any failure by the Company to continue in effect any benefit plan or
arrangement, including incentive plans or plans to receive securities of the Company, in which Executive is participating at the time of the Merger (in the case of a Covered Termination relating to the Merger) or a Change in Control of the Company
(hereinafter referred to as &#147;Benefit Plans&#148;), or the taking of any action by the Company which would adversely affect </font></p> <CENTER><font size=2>- 6 -</font></CENTER>

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 <BR> <p align=left><font size=2>Executive&#146;s participation in or reduce Executive&#146;s benefits under any Benefit Plans or deprive Executive of any fringe benefit enjoyed by Executive at the time of the Merger
(in the case of a Covered Termination relating to the Merger) or a Change in Control of the Company, provided, however, that Executive may not terminate for Good Reason following the Merger or a Change in Control of the Company if the Company offers
a range of benefit plans and programs which, taken as a whole, are comparable to the Benefit Plans as determined in good faith by Executive;</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (d) </b>&nbsp;&nbsp;&nbsp;a relocation of Executive, or the Company&#146;s principal executive
offices if Executive&#146;s principal office is at such offices, to a location more than fifteen (15) miles from the location at which Executive performed Executive&#146;s duties immediately prior to the Merger (in the case of a Covered Termination
relating to the Merger) or a Change in Control of the Company, except for required travel by Executive on the Company&#146;s business to an extent substantially consistent with Executive&#146;s business travel obligations at the time of the Merger
or a Change in Control of the Company;</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (e)
</b>&nbsp;&nbsp;&nbsp;any breach by the Company of any provision of this Agreement; or</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> (f) </b>&nbsp;&nbsp;&nbsp;any failure by the Company to obtain the assumption of this
Agreement by any successor or assign of the Company.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 6.11 </b>&nbsp;&nbsp;&nbsp;<b> &#147;Welfare Benefits&#148; </b> means benefits
providing for coverage or payment in the event of Executive&#146;s death, disability, illness or injury that were provided to Executive immediately before the Merger (in the case of a Covered Termination relating to the Merger) or a Change in
Control, whether taxable or non-taxable and whether funded through insurance or otherwise, including without limitation all life and health insurance coverage.</font></p> <p align=center><font size=2><b> ARTICLE VII </b><br><b> GENERAL PROVISIONS
</b></font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.1 </b>&nbsp;&nbsp;&nbsp;<b> Employment Status. </b>This Agreement does not constitute a contract of employment or impose on
Executive any obligation to remain as an employee, or impose on the Company any obligation (i) to retain Executive as an employee, (ii) to change the status of Executive as an at-will employee, or (iii) to change the Company&#146;s policies
regarding termination of employment.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.2 </b>&nbsp;&nbsp;&nbsp;<b> Notices. </b>Any notices provided hereunder must be in writing and
such notices or any other written communication shall be deemed effective upon the earlier of personal delivery (including personal delivery by telex or facsimile) or the third day after mailing by first class mail, to the Company at its primary
office location and to Executive at his address as listed in the Company&#146;s payroll records. Any payments made by the Company to Executive under the terms of this Agreement shall be delivered to Executive either in person or at his address as
listed in the Company&#146;s payroll records.</font></p> <CENTER><font size=2>- 7 -</font></CENTER>

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 <BR> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.3 </b>&nbsp;&nbsp;&nbsp;<b> Severability. </b>Whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had
never been contained herein.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.4 </b>&nbsp;&nbsp;&nbsp;<b> Waiver. </b>If either party should waive any breach of any provisions of the
Agreement, he or it shall not thereby be deemed to have waived any preceding or succeeding breach of the same or any other provision of this Agreement.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.5 </b>&nbsp;&nbsp;&nbsp;<b> Complete Agreement. </b>This Agreement, including <u> Exhibit A </u> and other written agreements referred to in this Agreement,
constitutes the entire agreement between Executive and the Company and it is the complete, final, and exclusive embodiment of their agreement with regard to the subject matter hereof, and expressly supersedes all other agreements, promises or
understandings, whether oral or written. This Agreement is entered into without reliance on any promise or representation other than those expressly contained herein.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.6 </b>&nbsp;&nbsp;&nbsp;<b> Amendment or Termination of Agreement. </b>This Agreement may be changed or terminated only upon the mutual written consent of the
Company and Executive. The written consent of the Company to a change or termination of this Agreement must be signed by an executive officer of the Company after such change or termination has been approved by the Compensation Committee of the
Company&#146;s Board of Directors.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.7 </b>&nbsp;&nbsp;&nbsp;<b> Counterparts. </b>This Agreement may be executed in separate
counterparts, any one of which need not contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.8 </b>&nbsp;&nbsp;&nbsp;<b> Headings. </b>The headings of the Articles and sections hereof are inserted for convenience only and shall not be deemed to constitute a
part hereof nor to affect the meaning thereof.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.9 </b>&nbsp;&nbsp;&nbsp;<b> Successors and Assigns. </b>This Agreement is intended to
bind and inure to the benefit of and be enforceable by Executive and the Company, and their respective successors, assigns, heirs, executors and administrators, except that Executive may not assign any of his duties hereunder and Executive may not
assign any of his rights hereunder without the written consent of the Company, which consent shall not be withheld unreasonably.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.10
</b>&nbsp;&nbsp;&nbsp;<b> Attorneys Fees. </b>If Executive brings any action to enforce his rights hereunder, Executive shall be entitled to recover his reasonable attorneys&#146; fees and costs incurred in connection with such action if Executive
is the prevailing party in such action.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.11 </b>&nbsp;&nbsp;&nbsp;<b> Choice of Law. </b> All questions concerning the construction,
validity and interpretation of this Agreement will be governed by the law of the State of California.</font></p> <CENTER><font size=2>- 8 -</font></CENTER>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#CCEEFF" WIDTH="100%" ALIGN="CENTER">
 <BR> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.12 </b>&nbsp;&nbsp;&nbsp;<b> Non-Publication. </b>The parties mutually agree not to disclose publicly the
terms of this Agreement except to the extent that disclosure is mandated by applicable law.</font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b> 7.13 </b>&nbsp;&nbsp;&nbsp;<b> Construction
of Agreement. </b>In the event of a conflict between the text of this Agreement and any summary, description or other information regarding this Agreement, the text of this Agreement shall control.</font></p> <p align=center><font size=2>[Signatures
Appear on the Following Page]</font></p> <CENTER><font size=2>- 9 -</font></CENTER>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#CCEEFF" WIDTH="100%" ALIGN="CENTER">
 <BR> <p align=left><font size=2><b> IN WITNESS WHEREOF, </b> the parties have executed this Agreement on the day and year written above.</font></p>
<table width="80%" cellspacing=0 cellpadding=0>
<tr>
<td width="40%" align=left><font size=2><b> INTERSIL CORPORATION </b><br><b> a Delaware Corporation </b><br><br><br></font></td>
<td width="5%">&nbsp;</td>
<td width="5%">&nbsp;</td>
<td width="40%" align=left><font size=2><b> EXECUTIVE </b><br><br><br></font></td></tr>
<tr>
<td width="40%">&nbsp;</td>
<td width="5%">&nbsp;</td>
<td width="5%" align=right><font size=2>&nbsp;&nbsp;&nbsp;</font></td>
<td width="40%">&nbsp;</td></tr>
<tr>
<td><HR noshade align=center width="100%" size=2 color="#000000"></td>
<td width="5%">&nbsp;</td>
<td width="5%">&nbsp;</td>
<td><HR noshade align=center width="100%" size=2 color="#000000"></td></tr>
<tr>
<td width="40%" align=left><font size=2>Gregory L. Williams<br>President and CEO</font></td>
<td width="5%">&nbsp;</td>
<td width="5%">&nbsp;</td>
<td width="40%" align=left><font size=2>Name: <br>Title</font></td></tr> </TABLE><br> <p align=left><font size=2><b> <u> Exhibit A </u>: Employee Agreement and Release </b></font></p> <CENTER><font size=2>&nbsp;</font></CENTER>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#CCEEFF" WIDTH="100%" ALIGN="CENTER">
 <BR> <p align=center><font size=2><b> <u> Exhibit A </u> </b></font></p> <p align=center><font size=2><b> Intersil Corporation </b></font></p> <p align=center><font size=2><b> Employee Agreement and Release
</b></font></p> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I understand and agree completely to the terms set forth in the foregoing agreement.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I hereby confirm my obligations under the Company&#146;s standard form of proprietary information agreement.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: &#147;A general release does not extend to claims which
the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected this settlement with the debtor.&#148; I hereby expressly waive and relinquish all rights and
benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims I may have against the Company.</font></p> <p align=left><font
size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except as otherwise set forth in this Agreement, I hereby release, acquit and forever discharge the Company, its parents and subsidiaries, and their officers, directors,
agents, servants, employees, shareholders, successors, assigns and affiliates, of and from any and all claims, liabilities, demands, causes of action, costs, expenses, attorneys fees, damages, indemnities and obligations of every kind and nature, in
law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed (other than any claim for indemnification I may have as a result of any third party action against me based on my employment with the Company),
arising out of or in any way related to agreements, events, acts or conduct at any time prior to and including the Effective Date of this Agreement, including but not limited to: all such claims and demands directly or indirectly arising out of or
in any way connected with my employment with the Company or the termination of that employment, including but not limited to, claims of intentional and negligent infliction of emotional distress, any and all tort claims for personal injury, claims
or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of compensation; claims pursuant to
any federal, state or local law or cause of action including, but not limited to, the federal Civil Rights Act of 1964, as amended; the federal Age Discrimination in Employment Act of 1967, as amended (&#147;ADEA&#148;); the federal American with
Disabilities Act of 1990; the California Fair Employment and Housing Act, as amended; tort law; contract law; wrongful discharge; discrimination; fraud; defamation; emotional distress; and breach of the implied covenant of good faith and fair
dealing; provided, however, that nothing in this paragraph shall be construed in any way to release the Company from its obligation to provide you with continued coverage under the Company&#146;s directors and officers liability insurance policy to
the same extent that it has provided such coverage to previously departed officers and directors of the Company.</font></p> <CENTER><font size=2>A-1</font></CENTER>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#CCEEFF" WIDTH="100%" ALIGN="CENTER">
 <BR> <p align=left><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under ADEA. I also
acknowledge that the consideration given for the waiver and release in the preceding paragraph hereof is in addition to anything of value which I was already entitled. I further acknowledge that I have been advised by this writing, as required by
the ADEA, that: (a) my waiver and release do not apply to any rights or claims that may arise after the Effective Date of this Agreement; (b) I have the right to consult with an attorney prior to executing this Agreement; (c) I have twenty-one (21)
days to consider this Agreement (although I may choose to voluntarily execute this Agreement earlier); (d) I have seven (7) days following the execution of this Agreement by the parties to revoke the Agreement; and (e) this Agreement shall not be
effective until the date upon which the revocation period has expired, which shall be the eighth day after this Agreement is executed by me, provided that the Company has also executed this Agreement by that date (&#147;Effective
Date&#148;).</font></p>
<table width="80%" cellspacing=0 cellpadding=0>
<tr>
<td width="40%" align=left><font size=2><br><br><br></font></td>
<td width="12%">&nbsp;</td>
<td colspan="2" width="40%" align=left><font size=2><br><br><br></font></td></tr>
<tr>
<td width="40%">&nbsp;</td>
<td width="3%">&nbsp;</td>
<td width="4%" align=left><font size=2>By:&nbsp;&nbsp;</font></td>
<td width="38%">&nbsp;</td></tr>
<tr>
<td></td>
<td width="3%">&nbsp;</td>
<td width="4%">&nbsp;</td>
<td><HR noshade align=center width="100%" size=2 color="#000000"></td></tr>
<tr>
<td width="40%">&nbsp;</td>
<td width="3%">&nbsp;</td>
<td width="4%">&nbsp;</td>
<td width="38%" align=left><font size=2>[Name]</font></td></tr>
<tr>
<td width="40%">&nbsp;</td>
<td width="3%">&nbsp;</td>
<td width="4%">&nbsp;</td>
<td width="38%">&nbsp;</td></tr>
<tr>
<td width="40%">&nbsp;</td>
<td width="3%">&nbsp;</td>
<td width="4%" align=left><font size=2>Date:&nbsp;</font></td>
<td width="38%" align=left><font size=2><u>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</u></font></td></tr> </TABLE><br> <CENTER><font size=2>A-2</font></CENTER>

<p Style='page-break-before:always'>
<HR  SIZE="3" COLOR="#CCEEFF" WIDTH="100%" ALIGN="CENTER">
 <BR> <p align=center><font size=2><u> Schedule to Form of Intersil Executive Severance Agreement </u></font></p>
<table width="100%" cellspacing=0 cellpadding=0>
<tr>
<td valign=bottom align=left width="279"><font size=2><u> Party </u></font></td>
<td valign=bottom align=left><font size=2><u> Date </u></font></td> </tr>
<tr>
<td valign=bottom align=left width="279"><font size=2>Lawrence J. Ciaccia</font></td>
<td valign=bottom align=left><font size=2>May 13, 2002</font></td> </tr>
<tr>
<td valign=bottom align=left width="279"><font size=2>Julie B. Forbes</font></td>
<td valign=bottom align=left><font size=2>May 13, 2002</font></td> </tr>
<tr>
<td valign=bottom align=left width="279"><font size=2>Rick E. Furtney</font></td>
<td valign=bottom align=left><font size=2>May 13, 2002</font></td> </tr>
<tr>
<td valign=bottom align=left width="279"><font size=2>Stephen M. Moran</font></td>
<td valign=bottom align=left><font size=2>May 7, 2002</font></td> </tr></table><br> <CENTER><font size=2>&nbsp;</font></CENTER>
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