**EXHIBIT 10.2**

May 8, 2006

 

Ms. Deidre Samuels

Director, GlobalTreasury and Risk Management

InternationalRectifier Corp.

233 Kansas Street

El Segundo, CA 90245

Dear Deidre:

Pursuant to the ISDA Master Agreement entered intobetween BNP Paribas Paris and International Rectifier Corp. dated as of July 1,1999 as amended, the following is a list of the economic terms and relatedinformation as to the transaction entered into by the parties on May 8, 2006.The details included in this memorandum are solely for information andreference purposes only, and are not meant to replace, modify or otherwiseamend the terms contained in the Confirmations or Master Agreement executedbetween the parties.
| **Value Date** | ** ** | **International Rectifier  Sells JPY** | ** ** | **International Rectifier  Buys USD** | ** ** | **Rate** | ** ** | **Our Confirmation  Reference Number** | ** ** |
|---------------------|------------|--------------------------------------------------|------------|-------------------------------------------------|------------|----------|------------|--------------------------------------------------|------------|
| 27-Jun-2006         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-1                                        |       |
| 27-Sep-2006         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-2                                        |       |
| 27-Dec-2006         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-3                                        |       |
| 27-Mar-2007         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-4                                        |       |
| 27-Jun-2007         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-5                                        |       |
| 27-Sep-2007         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-6                                        |       |
| 27-Dec-2007         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-7                                        |       |
| 27-Mar-2008         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-8                                        |       |
| 27-Jun-2008         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-9                                        |       |
| 26-Sep-2008         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-10                                       |       |
| 26-Dec-2008         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-11                                       |       |
| 27-Mar-2009         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-12                                       |       |
| 26-Jun-2009         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-13                                       |       |
| 25-Sep-2009         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-14                                       |       |
| 24-Dec-2009         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-15                                       |       |
| 26-Mar-2010         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-16                                       |       |
| 25-Jun-2010         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-17                                       |       |
| 27-Sep-2010         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-18                                       |       |
| 24-Dec-2010         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-19                                       |       |
| 25-Mar-2011         |       | 507,500,000                                      |       | 5,000,000                                       |       | 101.50   |       | 3093570-20                                       |       |
| Client Notional     |       | 10,150,000,000                                   |       | 100,000,000                                     |       |     |       |                                             |       |

 

Very truly yours,

James M. KaufmanDirectorBNP Paribas

787 SEVENTH AVENUE • NEWYORK, NY 10019-6016 • (212) 841-2000 • FAX (212) 841-2146 • TELEX 666928 •www.bnpparibas.com

 

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