QUICKLOGIC CORPORATION
EXHIBIT 10.01
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<TYPE>EX-10.01
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<DESCRIPTION>EXHIBIT 10.01
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NAME="km2519_exhibit_10.01"> </A>
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<BR></FONT><FONT SIZE=2><B>Exhibit 10.01    <BR>  </B></FONT></P>

<P><FONT SIZE=2><B>Amendment of Foundry Agreement  </B></FONT></P>

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<TD WIDTH="8%"><FONT SIZE=2>Date:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="26%"><FONT SIZE=2>September&nbsp;17, 2001</FONT><HR NOSHADE></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="61%"><FONT SIZE=2>&nbsp;</FONT></TD>
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<TD WIDTH="8%"><FONT SIZE=2><BR>
To:</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="26%"><FONT SIZE=2><BR>
Tower Semiconductor&nbsp;Ltd.</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="61%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
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<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned, QuickLogic Corporation, hereby agrees to amend the terms of the Foundry Agreement dated December&nbsp;11, 2000 entered into with Tower Semiconductor&nbsp;Ltd.
(the "Company")(the "Foundry Agreement") as set forth below: </FONT></P>

<UL>
<DL compact>
<DT><FONT SIZE=2>1.</FONT></DT><DD><FONT SIZE=2>75%
of the credits QuickLogic Corporation received, pursuant to Schedule&nbsp;6.4 of the Foundry Agreement as of the date hereof and totaling the aggregate amount of $5,337,356
(the "Credits"), will be converted into fully-paid and non-assessable ordinary shares of the Company;
<BR><BR></FONT></DD><DT><FONT SIZE=2>2.</FONT></DT><DD><FONT SIZE=2>such
conversion of the Credits into equity will be effective as of five trading days from the Company's receipt of shareholder approval of this amendment to the Share Purchase
Agreement;
<BR><BR></FONT></DD><DT><FONT SIZE=2>3.</FONT></DT><DD><FONT SIZE=2>upon
conversion of the Credits, QuickLogic Corporation shall be promptly issued 418,616 ordinary shares of the Company equivalent to the aggregate amount of the Credits divided by
$12.75. </FONT></DD></DL>
</UL>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;All
other provisions of the Foundry Agreement shall remain unchanged. </FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;QuickLogic
Corporation understands this amendment to the Foundry Agreement is subject to the approval of each of Bank Hapoalim B.M., Bank Leumi Le-Israel, the Company's
Audit Committee, Board of Directors as well as shareholders approval with respect to similar agreements between the Company and SanDisk Corporation, Macronix International (BVI)&nbsp;Ltd., and
Alliance Semiconductor, each, for the conversion of credits into equity and certain Israeli regulatory authorities (including both the Investment Center and the Office of the Chief Scientist) and will
take effect immediately after such approvals have been obtained. It is further understood that such shareholder approval requires approval by (i)&nbsp;the majority of votes cast at the shareholders
meeting, including at least one third of all votes of the non-controlling members who are present in person or by proxy and vote on the matter or (ii)&nbsp;the majority of votes cast on
the matter at the shareholder meeting, provided that the total votes cast in opposition to this amendment of the Share Purchase Agreement by the non-controlling members does not exceed 1%
of all the voting rights in the Company. </FONT></P>

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<TD WIDTH="11%"><FONT SIZE=2>Sincerely,</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>&nbsp;</FONT></TD>
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&nbsp;</FONT></TD>
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<TD COLSPAN=3><FONT SIZE=2><BR>
/S/ Arthur O. Whipple</FONT></TD>
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&nbsp;</FONT></TD>
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<TD WIDTH="11%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2><BR>
Arthur O. Whipple</FONT></TD>
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<TD WIDTH="43%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="1%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="11%"><FONT SIZE=2>Title:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="43%"><FONT SIZE=2>Chief Financial Officer</FONT></TD>
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<P><FONT SIZE=2>By
signing below please indicate the Company's acceptance of the terms of the proposed amendment to the Share Purchase Agreement. </FONT></P>

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<TD COLSPAN=3 VALIGN="TOP"><FONT SIZE=2>&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Tower Semiconductor&nbsp;Ltd.</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2>&nbsp;</FONT></TD>
</TR>
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<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><BR><HR NOSHADE></TD>
<TD WIDTH="3%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
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<TD WIDTH="6%" VALIGN="TOP"><FONT SIZE=2>Title:</FONT></TD>
<TD WIDTH="3%" VALIGN="TOP"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="44%"><HR NOSHADE></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2>&nbsp;</FONT></TD>
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