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                                                                   EXHIBIT 10.53

                 FIRST AMENDED AND RESTATED EMPLOYMENT AGREEMENT

      This First Amended and Restated Employment Agreement (the "Agreement") is
effective as of June __, 1999, by and between Boris Lipkin (the "Employee") and
Silicon Valley Group, Inc., a Delaware corporation (the "Company").

                                 R E C I T A L S

      A. The Board of Directors of the Company (the "Board") has determined that
it is in the best interests of the Company and its stockholders to assure that
the Company will have the continued dedication and commitment of the Employee.

      B. In order to accomplish the foregoing objectives, the Board of Directors
has directed the Company, upon execution of this Agreement by the Employee, to
agree to the terms provided herein.

      C. Certain capitalized terms used in the Agreement are defined in Section
6 below.

      In consideration of the mutual covenants herein contained, and in
consideration of the continuing employment of Employee by the Company, the
parties agree as follows:

      1. Duties and Scope of Employment.

            (a) Position. The Company shall employ the Employee in the position
of Vice President, Corporate, as such position was defined in terms of
responsibilities and compensation as of the effective date of this Agreement;
provided, however, that the Board shall have the right, prior to the occurrence
of a Change of Control (as defined in Section 6 below), to revise such
responsibilities and compensation from time to time as the Board may deem
necessary or appropriate subject to the Involuntary Termination provisions under
Section 6(b).

            (b) Obligations. The Employee shall devote his full business efforts
and time to the Company and its subsidiaries. The foregoing, however, shall not
preclude the Employee from engaging in such activities and services as do not
interfere or conflict with his responsibilities to the Company.

      2. Base Compensation. The Company shall pay the Employee as compensation
for his services a base salary at the annualized rate of $275,000, along with
such performance bonus amounts and car allowances, if any, as the Board shall
authorize, in its discretion, from time to time. Such salary shall be reviewed
at least annually and shall be increased from time to time subject to
accomplishment of such performance and contribution goals and objectives as may
be established from time to time by the Board. Such salary shall be paid
periodically in accordance with normal Company payroll. The annual compensation
(including bonus amounts) specified in this Section 2, together with any
increases in such compensation that the Board may grant from time to time, is
referred to in this Agreement as "Base Compensation."

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      3. Employee Benefits. The Employee shall be eligible to participate in the
employee benefit plans and executive compensation programs maintained by the
Company applicable to other key executives of the Company, including (without
limitation) retirement plans, savings or profit-sharing plans, deferred
compensation plans, supplemental retirement or excess-benefit plans, stock
option, incentive or other bonus plans, life, disability, health, accident and
other insurance programs, paid vacations, and similar plans or programs, subject
in each case to the generally applicable terms and conditions of the plan or
program in question and to the determination of any committee administering such
plan or program.

      4. At-Will Employment. The Company and the Employee acknowledge that the
Employee's employment is at will, as defined under applicable law. If the
Employee's employment terminates for any reason, the Employee shall not be
entitled to any payments, benefits, damages, awards or compensation other than
as provided by this Agreement. The terms of this Agreement shall terminate upon
the earlier of (i) the date that all obligations of the parties hereunder have
been satisfied, (ii) twelve (12) months after a Change of Control or (iii) so
long as there has been no Change in Control, August 1, 2004. A termination of
the terms of this Agreement pursuant to the preceding sentence shall be
effective for all purposes, except that such termination shall not affect the
payment or provision of compensation or benefits on account of a termination of
employment occurring prior to the termination of the terms of this Agreement.

      5. Severance Benefits. Subject to Section 7 below, if the Employee's
employment terminates at any time, then the Employee's right, if any, to receive
severance benefits shall be as set forth in this Section 5 in lieu of any other
severance or severance-type benefits to which Employee may otherwise be entitled
under the Company's existing plans, policies or programs.

            (a) Voluntary Resignation; Termination For Cause. If the Employee's
employment terminates by reason of the Employee's voluntary resignation (and is
not an Involuntary Termination), or if the Employee is terminated for Cause,
then the Employee shall not be entitled to receive severance or other benefits
except for those (if any) as may then be established under the Company's then
existing severance and benefits plans and policies at the time of such
termination applicable to a voluntary termination or termination for cause.

            (b) Involuntary Termination. If the Employee's employment is
terminated as a result of Involuntary Termination other than for Cause, then the
Employee shall be entitled, upon the execution of the Agreement and Release
attached hereto as Exhibit A, to receive severance pay in an aggregate amount
equal to two times the Employee's Base Compensation for the twelve-calendar
month period immediately preceding the Termination Date. Any severance payments
to which the Employee is entitled pursuant to this section shall be paid, at the
option of the Employee, either in twenty-four (24) equal monthly installments
following the Termination Date, or in a single, lump-sum payment within thirty
days following the Termination Date. Employee shall also be entitled to
twenty-four (24) months from the Termination Date to exercise any vested stock
options he may have at the time his employment terminates under this section
notwithstanding anything to the contrary in Company's Stock Option Plan or the
applicable Stock Option Agreement between Employee and the Company.


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            (c) Disability; Death. If the Company terminates the Employee's
employment as a result of the Employee's Disability, or the Employee's
employment is terminated due to the death of the Employee, then the Employee (or
the Employee's estate, if such termination results from Employee's death) shall
be entitled, at the Employee's option, to (i) continue receiving the Employee's
Base Compensation for 24 months following such termination, at the same
annualized rate as was in effect at the Termination Date, offset, in the case of
Disability, by any payments Employee receives from any governmental agency or
private disability insurance plan as a result of such Disability, or (ii)
receive the full amount set forth in Section 5(c)(i) in a single, lump-sum
payment.

            (d) Options.

                  (i) If the Employee's employment is terminated following a
Change of Control as a result of an Involuntary Termination other than for
Cause, then the unvested portion of any stock option held by the Employee under
the Company's stock option plans shall automatically become fully vested and
exercisable as of the Termination Date and the Employee or the Employee's
representative, as the case may be, shall have the right to exercise all or any
portion of such stock option, in addition to any portion of the option vested or
exercisable prior to such termination. If a termination of Employee's employment
results in acceleration of vesting of any option, the Employee shall have 24
months following the Termination Date to exercise such option, notwithstanding
any contrary provision of the option agreement.

                  (ii) If a Change of Control occurs within 90 days following
the termination of Employee's employment as a result of an Involuntary
Termination other than for Cause, then Employee or the Employee's
representative, as the case may be, shall be fully vested in and have the right
to exercise all options which were not vested or exercisable as of the
Termination Date, at the same exercise price as would have applied if Employee
had still been employed at the time of the Change in Control. Promptly following
the occurrence of any such Change of Control within such 90 days, the Company
will provide to the Employee written notice of such Change of Control and a
written statement as to the number of shares vested and exercisable by Employee
as a result of this Section 5(d)(ii) and the exercise price or prices thereof.
The right to exercise such option shall continue for 24 months following the
Company's delivery of the written notice contemplated by the preceding sentence.
In the event that the securities issuable upon exercise of such options have
been converted into different securities as a result of the Change of Control,
or have been converted into a right to receive consideration as a result of the
Change of Control, Employee shall, upon exercise of such option, be entitled to
receive the same securities or consideration as Employee would have received had
the option been exercised immediately prior to the Change of Control.

            (e) Set-off. In the event that, upon any termination of Employee's
employment (whether voluntary or involuntary) prior to a Change of Control, the
Employee owes any amounts to the Company, (i) the amount of each monthly
severance payment to be paid to Employee shall be reduced by the amount of all
accrued interest on, and a portion of the outstanding principal amount of, any
such debt owing from Employee to the Company at the Termination Date if the
Employee has elected to receive severance payments over twenty-four months, or
(ii) the payment will be


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reduced by the outstanding principal amount and accrued interest if the Employee
has elected to receive a single, lump-sum payment. The portion of the principal
amount of such debt by which each monthly severance payment will be reduced
shall be 1/24 in the case of a termination covered under Section 5(b) or Section
5(c) or in full if the Employee has elected to receive a single, lump-sum
payment.

      6. Definition of Terms. The following terms referred to in this Agreement
shall have the following meanings:

            (a) Change of Control. "Change of Control" shall mean the occurrence
of any of the following events:

                  (i) Any "person" (as such term is used in Sections 13(d) and
14(d) of the Securities Exchange Act of 1934, as amended) is or becomes the
"beneficial owner" (as defined in Rule 13d-3 under said Act), directly or
indirectly, of securities of the Company representing fifty percent (50%) or
more of the total voting power represented by the Company's then outstanding
voting securities; or

                  (ii) A change in the composition of the Board occurring within
a two-year period, as a result of which fewer than a majority of the directors
are Incumbent Directors. "Incumbent Directors" shall mean directors who either
(A) are directors of the Company as of the date hereof, or (B) are elected, or
nominated for election, to the Board with the affirmative votes of at least a
majority of the Incumbent Directors at the time of such election or nomination
(but 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); or

                  (iii) The consummation of 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 complete
liquidation of the Company or the consummation of the sale or disposition by the
Company of all or substantially all the Company's assets.

            (b) Involuntary Termination. "Involuntary Termination" shall mean
any of the following: (i) without the Employee's express written consent, the
assignment to the Employee of any duties or the reduction of the Employee's
duties, either of which results in a significant diminution in the Employee's
position or responsibilities with the Company in effect immediately prior to
such assignment, or the removal of the Employee from such position and
responsibilities; (ii) a substantial reduction, without good business reasons
and without the Employee's written consent, of the facilities and perquisites
(including office space and location) available to the Employee immediately
prior to such reduction; (iii) a reduction by the Company in the Base
Compensation of the Employee as in effect immediately prior to such reduction,
other than (A) a bonus reduction


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resulting from application of a bonus formula or plan on a basis that is
consistent with prior practice or (B) a reduction which is comparable (on a
percentage basis) to a reduction applicable to all executive officers of the
Company; (iv) a material reduction by the Company in the kind or level of
employee benefits to which the Employee is entitled immediately prior to such
reduction with the result that the Employee's overall benefits package is
significantly reduced other than, so long as there is no Change of Control, a
reduction which is comparable to a reduction applicable to all executive
officers of the Company; (v) the relocation of the Employee to a facility or a
location more than 25 miles from the Employee's then present location, without
the Employee's express written consent; (vi) any purported termination of the
Employee by the Company which is not effected for Disability or for Cause, or
any purported termination for which the grounds relied upon are not valid; (vii)
the failure of the Company to obtain the assumption of this agreement by any
successors contemplated in Section 9 below; or (viii) any purported termination
of the Employee's employment by the Company which is not effected pursuant to a
notice of termination satisfying the requirements of Section 10(b) below, and
for purposes of this Agreement, no such purported termination shall be
effective.

            (c) Cause. "Cause" shall mean (i) any act of personal dishonesty
taken by the Employee in connection with his responsibilities as an employee and
intended to result in substantial personal enrichment of the Employee, (ii) the
conviction of a felony, (iii) a willful act by the Employee which constitutes
gross misconduct and which is injurious to the Company, and (iv) continued
violations by the Employee of the Employee's obligations under Section 1 of this
Agreement which are demonstrably willful and deliberate on the Employee's part
after (a) there has been delivered to the Employee a written demand for
performance from the Company which describes the basis for the Company's belief
that the Employee has not substantially performed his duties and sets forth
specific performance goals to cure such defaults, and (b) the Employee has been
given 120 days during which the Employee has been unable to cure such failure to
perform hereunder.

            (d) Disability. "Disability" shall mean that the Employee has been
unable to perform his duties under this Agreement as the result of his
incapacity due to physical or mental illness, and such inability, at least 26
weeks after its commencement, is determined to be total and permanent by a
physician selected by the Company or its insurers and agreed to the Employee or
the Employee's legal representative (such agreement not to be unreasonably
withheld). Termination resulting from Disability may only be effected after at
least 30 days' written notice by the Company of its intention to terminate the
Employee's employment. In the event that the Employee resumes the performance of
substantially all of his duties hereunder before the termination of his
employment becomes effective, the notice of intent to terminate shall
automatically be deemed to have been revoked.

            (e) Termination Date. "Termination Date" shall mean (i) if this
Agreement is terminated by the Company for Disability, thirty (30) days after
notice of termination is given to the Employee (provided that the Employee shall
not have returned to the performance of the Employee's duties on a full-time
basis during such thirty (30) day period), (ii) if the Employee's employment is
terminated by the Company for any other reason, the date on which a notice of
termination is given,


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provided that if within thirty (30) days after the Company gives the Employee
notice of termination, the Employee notifies the Company that a dispute exists
concerning the termination, the Termination Date shall be the date on which the
dispute is finally determined, either by mutual written agreement of the
parties, by final judgment, order or decree of a court of competent jurisdiction
(the time for appeal therefrom having expired and no appeal having been
perfected), or (iii) if the Agreement is terminated by the Employee, the date on
which the Employee delivers the notice of termination to the Company.

      7. Limitation on Payments.

            (a) In the event that the severance and other benefits provided for
in this Agreement or otherwise payable to the Executive (i) constitute
"parachute payments" within the meaning of Section 280G of the Internal Revenue
Code of 1986, as amended (the "Code") and (ii) but for this Section would be
subject to the excise tax imposed by Section 4999 of the Code, then the
Executive's severance benefits under Section 5 shall be payable either (i) in
full, or (ii) as to such lesser amount which would result in no portion of such
severance benefits being subject to excise tax under Section 4999 of the Code,
whichever of the foregoing amounts, taking into account the applicable federal,
state and local income taxes and the excise tax imposed by Section 4999, results
in the receipt by the Executive on an after-tax basis, of the greatest amount of
severance benefits under this Agreement, notwithstanding that all or some
portion of such severance benefits may be taxable under Section 4999 of the
Code.

            (b) If a reduction in the payments and benefits that would otherwise
be paid or provided to the Executive under the terms of this Agreement is
necessary to comply with the provisions of Section 7(a), the Executive shall be
entitled to select which payments or benefits will be reduced and the manner and
method of any such reduction of such payments or benefits (including but not
limited to the number of options that would vest under Section 5(d) subject to
reasonable limitations (including, for example, express provisions under the
Company's benefit plans) (so long as the requirements of Section 7(a) are met).
Within thirty (30) days after the amount of any required reduction in payments
and benefits is finally determined in accordance with the provisions of Section
7(c), the Executive shall notify the Company in writing regarding which payments
or benefits are to be reduced. If no notification is given by the Executive, the
Company will determine which amounts to reduce. If, as a result of any reduction
required by Section 7(a), amounts previously paid to the Executive exceed the
amount to which the Executive is entitled, the Executive will promptly return
the excess amount to the Company.

            (c) Unless the Company and the Executive otherwise agree in writing,
any determination required under this Section shall be made in writing by the
Company's independent public accountants (the "Accountants"), whose
determination shall be conclusive and binding upon the Executive and the Company
for all purposes. For purposes of making the calculations required by this
Section, the Accountants may make reasonable assumptions and approximations
concerning applicable taxes and may rely on reasonable, good faith
interpretations concerning the application of Sections 280G and 4999 of the
Code. The Company and the Executive shall furnish to the Accountants such
information and documents as the Accountants may reasonably request in order to


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make a determination under this Section. The Company shall bear all costs the
Accountants may reasonably incur in connection with any calculations
contemplated by this Section.

      8. Covenants of the Employee.

            (a) Covenants. As additional consideration for the Company's
agreements set forth herein, Employee agrees that Employee will not:

                  (i) directly or indirectly, in any manner or capacity, as
advisor, principal, agent, partner, officer, director, stockholder, employee,
member of any association or otherwise, engage in any business or activity
conducted by the Company as of the Termination Date or have an interest in any
firm, corporation, partnership or association engaged in any such business or
activity or similar business or activity; provided, however, that ownership by
Employee, as a passive investment, of less than 1% of the outstanding shares of
capital stock of any corporation with one or more classes of its capital stock
listed on a national securities exchange or publicly traded in the
over-the-counter market shall not constitute a breach of this paragraph;

                  (ii) so long as there has been no Change of Control, engage in
any conduct detrimental to the Company or the conduct of its business.

            (b) Consequences of Breach. In the event Employee breaches his
obligations under Section 8(a), (i) the Company's obligation to make payments to
Employee pursuant to this Agreement shall immediately terminate upon the
occurrence of the actions which constitute such breach, (ii) all loans from the
Company to Employee shall become immediately due and payable and (iii) if the
Company has paid any amounts to Employee since the occurrence of the actions
which constitute such breach, Employee shall repay such amounts upon demand by
the Company.

      9. Successors.

            (a) Company's Successors. Any successor to the Company (whether
direct or indirect and whether by purchase, lease, merger, consolidation,
liquidation or otherwise) to all or substantially all of the Company's business
and/or assets shall assume the obligations under this Agreement and agree
expressly to perform the obligations under this Agreement in the same manner and
to the same extent as the Company would be required to perform such obligations
in the absence of a succession. For all purposes under this Agreement, the term
"Company" shall include any successor to the Company's business and/or assets
which executes and delivers the assumption agreement described in this
subsection (a) or which becomes bound by the terms of this Agreement by
operation of law.

            (b) Employee's Successors. The terms of this Agreement and all
rights of the Employee hereunder shall inure to the benefit of, and be
enforceable by, the Employee's personal or legal representatives, executors,
administrators, successors, heirs, distributees, devisees and legatees.


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      10. Notice.

            (a) General. Notices and all other communications contemplated by
this Agreement shall be in writing and shall be deemed to have been duly given
when personally delivered or when mailed by U.S. registered or certified mail,
return receipt requested and postage prepaid. In the case of the Employee,
mailed notices shall be addressed to him at the home address which he most
recently communicated to the Company in writing. In the case of the Company,
mailed notices shall be addressed to its corporate headquarters, and all notices
shall be directed to the attention of its Secretary.

            (b) Notice of Termination. Any termination by the Company for
Disability or Cause, or by the Employee as a result of a voluntary resignation
or an Involuntary Termination shall be communicated by a notice of termination
to the other party hereto given in accordance with this Section 10(b). Such
notice shall indicate the specific termination provision in this Agreement
relied upon, shall set forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination under the provision so indicated, and
shall specify the termination date (which shall be not more than thirty (30)
days after the giving of such notice). The failure by the Employee to include in
the notice any fact or circumstance which contributes to a showing of
Involuntary Termination shall not waive any right of the Employee hereunder or
preclude the Employee from asserting such fact or circumstance in enforcing his
rights hereunder.

      11. Miscellaneous Provisions.

            (a) No Duty to Mitigate. The Employee shall not be required to
mitigate the amount of any payment contemplated by this Agreement (whether by
seeking new employment or in any other manner), nor shall any such payment be
reduced by any earnings that the Employee may receive from any other source,
except as specifically provided for herein.

            (b) Waiver. No provision of this Agreement shall be modified, waived
or discharged unless the modification, waiver or discharge is agreed to in
writing and signed by the Employee and by an authorized officer of the Company
(other than the Employee). No waiver by either party of any breach of, or of
compliance with, any condition or provision of this Agreement by the other party
shall be considered a waiver of any other condition or provision or of the same
condition or provision at another time.

            (c) Whole Agreement. No agreements, representations or
understandings (whether oral or written and whether express or implied) which
are not expressly set forth or explicitly referenced in this Agreement have been
made or entered into by either party with respect to employment matters.

            (d) Choice of Law. The validity, interpretation, construction and
performance of this Agreement shall be governed by the laws of the State of
California.


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            (e) Severability. The invalidity or unenforceability of any
provision or provisions of this Agreement shall not affect the validity or
enforceability of any other provision hereof, which shall remain in full force
and effect.

            (f) Arbitration. Any dispute or controversy arising under or in
connection with this Agreement shall be settled exclusively by arbitration in
Santa Clara County, California, in accordance with the rules of the American
Arbitration Association then in effect. Judgment may be entered on the
arbitrator's award in any court having jurisdiction. Punitive damages shall not
be awarded.

            (g) No Assignment of Benefits. The rights of any person to payments
or benefits under this Agreement shall not be made subject to option or
assignment, either by voluntary or involuntary assignment or by operation of
law, including (without limitation) bankruptcy, garnishment, attachment or other
creditor's process, and any action in violation of this subsection (g) shall be
void.

            (h) Employment Taxes. All payments made pursuant to this Agreement
will be subject to withholding of applicable taxes.

            (i) Assignment by Company. The Company may assign its rights under
this Agreement to an affiliate, and an affiliate may assign its rights under
this Agreement to another affiliate of the Company or to the Company; provided,
however, that no assignment shall be made if the net worth of the assignee is
less than the net worth of the Company at the time of assignment. In the case of
any such assignment, the term "Company" when used in a section of this Agreement
shall mean the corporation that actually employs the Employee.

            (j) Counterparts. This Agreement may be executed in counterparts,
each of which shall be deemed an original, but all of which together will
constitute one and the same instrument.

      IN WITNESS WHEREOF, each of the parties has executed this Agreement, in
the case of the Company by its duly authorized officer, as of the day and year
first above written.

COMPANY                                     SILICON VALLEY GROUP, INC.

                                            By:
                                               ---------------------------------
                                            Papken S. Der Torossian,
                                            Chief Executive Officer

EMPLOYEE
                                            ------------------------------------
                                            Boris Lipkin







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