<PAGE>   1
                                                                   EXHIBIT 10.14


                              EMPLOYMENT AGREEMENT


This Agreement is made by and between Zilog, Inc., a California corporation
(hereinafter "Zilog") and Dr. Edgar A. Sack, Jr. (hereinafter "Sack"), whereby
Zilog and Sack agree that Sack accepts employment as President, Chief Executive
Officer, and Chairman of the Board of Directors of Zilog, under the following
terms and conditions:

1.       Term. Zilog and Sack agree that Sack will be President, Chief Executive
         Officer, and Chairman of the Board of Zilog for a period of thirteen
         (13) months, commencing on February 1, 1997 and ending February 28,
         1998. This Agreement may be extended upon written agreement of Zilog
         and Sack.

2.       Extent of Services. Sack shall devote his entire time, attention and
         energies to his position as President, Chief Executive Officer, and
         Chairman of the Board of Zilog and shall not, during the term of this
         Employment Agreement be engaged in any other business activity whether
         or not such business activity is pursued for gain, profit or other
         pecuniary advantage; provided, that Sack may engage in personal
         investment activities consistent with Zilog's Conflict of Interest
         Policy.


                                       1
<PAGE>   2
3.       Compensation.

         A.       Salary. For each month of employment, Zilog will pay, or cause
                  to be paid, to Sack the sum of at least $42,166.00 as base
                  salary. Such sum will be paid in monthly installments or such
                  other normal periodic payment schedule as Zilog may establish
                  for its executives. Sack's salary will be reviewed
                  periodically in accordance with established salary review
                  procedures and adjustments to his salary, if any, will be
                  based upon such reviews.

         B.       Employee Performance Incentive Plan and Executive Bonus Plan.
                  Sack will be eligible to receive Awards and Payouts in
                  accordance with the terms of the Zilog Employee Performance
                  Incentive Plan (hereinafter "EPIP"),and the EPIP Executive
                  Bonus Plan (hereinafter "Executive Bonus") as such plans may
                  be modified from time to time and as modified by this
                  Agreement.

         C.       Zilog Employee Stock Option Plan. Zilog has provided to Sack
                  stock options under the 1990 Zilog Employee Stock Option Plan
                  (hereinafter "ZSOP"), and the 1994 Long Term Incentive Plan
                  (hereinafter "LTIP"), copies of such plans being attached
                  hereto. Vesting will continue in accordance with the plan
                  provisions during the term of this Agreement and as modified
                  by this Agreement.


                                       2
<PAGE>   3
4.       Benefits. As an employee of Zilog, Sack will be entitled to such
         benefits as Zilog normally provides its employees.

5.       Company Policies. Sack agrees to be bound by all Zilog Company Policies
         applicable to its employees including but not limited to Business
         Ethics, Conflict of Interest, Proprietary Information and Antitrust
         Compliance, and he agrees to sign any such documents as Zilog requests
         evidencing such agreement.

6.       Termination of Employment. Zilog reserves the right to terminate the
         employment of Sack at any time during the term of this Agreement, for
         any reason or for no reason, with or without cause, by giving Sack at
         least thirty (30) days written notice of such termination or
         compensation in lieu of notice; and Sack may terminate his employment
         by giving at least thirty (30) days written notice to Zilog. Zilog
         reserves the right to accelerate any deferred resignation date given it
         by Sack, and any such acceleration of such date will not alter the
         character of such termination from voluntary to involuntary.

7.       Payment Upon Termination. Notwithstanding any other provisions of this
         Agreement to the contrary, Zilog's obligations to Sack, if his
         employment with Zilog is terminated prior to the end of this Agreement,
         shall be as follows:


                                       3
<PAGE>   4
A.       If Sack voluntarily resigns his employment for 1) other than Good
         Reason (as defined in Paragraph 7.B. below) or 2) other than retirement
         (as defined in Paragraph 7.C. below) or 3) other than the sale, merger
         or change in ownership of Zilog (as defined in Paragraph 7.D. below)
         prior to the termination date of this Agreement, he will be entitled
         to: (1) base salary then due and owing for services previously
         performed, (2) Payouts under EPIP which become payable to Sack pursuant
         to the terms of EPIP prior to the effective date of resignation, and
         (3) Payouts under the Executive Bonus which become payable to Sack
         pursuant to the terms of the Executive Bonus prior to the effective
         date of resignation. Upon payment of the foregoing items, Zilog will
         have no further obligation to Sack.

B.       If Sack voluntarily resigns his employment for Good Reason, as defined
         herein, prior to the termination date of this Agreement, he will be
         entitled to the benefits provided in Paragraph 7.E. below. Good Reason,
         as used herein, shall mean:

         (i)      assignment to Sack of duties, responsibilities or titles
                  materially inconsistent with his status as President, Chief
                  Executive Officer, and Chairman of the Board of Zilog;


                                       4
<PAGE>   5
         (ii)     appointment of a Chairman of the Zilog Board of Directors
                  other than Sack;

         (iii)    a reduction in Sack's base salary other than in connection
                  with a general reduction applicable to the members of the
                  Zilog Management Committee;

         (iv)     a reduction in form and effect or cessation of any benefit or
                  compensation plan, except EPIP, the Executive Bonus, the
                  Deferred Compensation Plan or those that may occur for the
                  Zilog employee group in general in accord with a general
                  policy change;

         (v)      a change in Sack's principal work location from the area of
                  Campbell, California, except for required travel on Zilog's
                  business to an extent substantially consistent with Sack's
                  normal business travel obligations and except as might occur
                  in the event of a relocation of the Zilog Corporate
                  Headquarters;

         (vi)     any material breach of this Agreement on the part of Zilog not
                  fully remedied by Zilog within sixty (60) days after written
                  notice by Sack of such breach.


                                       5
<PAGE>   6
C.       If Sack retires as defined in PM60-05 prior to the termination date of
         this Agreement, he will be entitled to the following at the effective
         date of retirement: (1) base salary then due and owing for services
         previously performed, (2) Payouts under EPIP for Awards made prior to
         the effective date of the retirement, and (3) Payouts under the
         Executive Bonus for Awards made prior to the effective date of the
         retirement. EPIP and Executive Bonus Awards may also be granted at
         Zilog's sole discretion for the year in which the retirement occurs,
         prorated to the date of the retirement. Payouts for all Awards will be
         made at the same time and on the same schedule as those for active
         employees. Upon the payment of the foregoing items, Zilog will have no
         further obligation to Sack.

D.       If Sack leaves his employment, either voluntarily or involuntarily, as
         a result of the sale, merger or change in ownership of Zilog prior to
         the termination date of this Agreement, he will be entitled to receive
         the following: (1) the then current base salary for the period
         remaining in this Agreement, (2) Payouts under EPIP for Awards made
         prior to the effective date of termination of employment, and (3)
         Payouts under the Executive Bonus for Awards made prior to the
         effective date of termination of employment. EPIP and Executive Bonus
         Awards may also be granted at Zilog's sole discretion for the year in
         which the termination occurs.


                                       6
<PAGE>   7
         Payouts for all Awards will be made at the same time and on the same
         schedule as those for active employees. All outstanding unvested stock
         options granted under ZSOP and LTIP will fully vest effective the last
         date of Sack's active employment. They will be subject to exercise on
         the same terms as all other vested options, as provided for under the
         "Retirement" provisions of the ZSOP and LTIP. Upon payment of the
         following items, Zilog will have no further obligation to Sack.

E.       If Zilog terminates Sack's employment during the term of this Agreement
         for 1) other than Cause or Detrimental Activity (as defined in 7.F.
         below), or 2) other than sale or change in ownership of Zilog (as
         defined in Paragraph 7.D. above), he will be entitled to receive the
         following: (1) the then current base salary for the period remaining in
         this Agreement, (2) Payouts under EPIP for Awards made prior to the
         effective date of termination of employment which Payouts are payable
         to Sack pursuant to the terms of EPIP prior to expiration of the term
         of this Agreement, and (3) Payouts under the Executive Bonus for Awards
         made prior to the effective date of termination of employment which
         Payouts are payable to Sack pursuant to the terms of the Executive
         Bonus prior to expiration of the term of this Agreement. Sack will not
         be eligible for Awards under EPIP or the Executive Bonus made after the
         date on which his


                                       7
<PAGE>   8
         employment at Zilog ceased or for Payouts made on any Awards after the
         expiration date of this Agreement. Vesting of common stock and stock
         options granted under ZSOP and LTIP will continue for the period
         remaining in this Agreement. Upon the payment of the foregoing items,
         Zilog will have no further obligation to Sack.

F.       If Zilog terminates Sack's employment during the term of this Agreement
         for Cause, or for Detrimental Activity as defined herein, Zilog will
         have no further monetary obligation to Sack other than (1) any base
         salary then due and owing for services previously performed, (2)
         Payouts under EPIP which become payable to Sack pursuant to the terms
         of EPIP prior to the effective date of termination, and (3) Payouts
         under the Executive Bonus which become payable to Sack pursuant to the
         terms of the Executive Bonus prior to the effective date of
         termination. Cause or Detrimental Activity shall be a willful violation
         of a major company policy, conviction of any criminal or civil law
         involving moral turpitude, willful misconduct which results in a
         material reduction in Sack's effectiveness in the performance of his
         duties, or willful and reckless disregard for the best interests of the
         Company.


                                       8
<PAGE>   9
         G.     If Sack ceases to be an employee of Zilog during the term of
                this Agreement because of total and permanent disability or
                death, Zilog's obligations to Sack or his beneficiaries will be
                limited solely to: (1) any base salary then due and owing for
                services previously performed, (2) Payouts in accordance with
                the terms of EPIP, (3) Payouts in accordance with the terms of
                the Executive Bonus, and (4) any benefits including ZSOP and
                LTIP benefits normally provided by Zilog to its employees due to
                or on account of total and permanent disability or death.

8.       New President and CEO. In the event that Zilog hires a new President
         and CEO, Sack will retain his position as Chairman of the Board of
         Directors of Zilog and will also remain an employee of Zilog. If his
         responsibilities become solely those of Chairman of the Board, Sack's
         base compensation will be at an amount mutually agreed upon by Sack and
         the Board but will not be less than 67% of his then current full time
         base rate. If Sack is terminated from the Board as a result of the
         sale, merger or change in ownership of Zilog or for any other reason,
         all outstanding unvested stock options granted under ZSOP and LTIP will
         fully vest effective the last date of Sack's membership on the Board.
         They will be subject to exercise on the same terms as all other vested
         options, as provided for under the "Retirement" provisions of the ZSOP
         and LTIP. Other provisions of this Agreement shall remain in effect
         except as modified by this paragraph.


                                       9
<PAGE>   10
9.       Sack Representations. Sack represents to Zilog that to the best of his
         knowledge he is under no obligation to any employer or third party
         which would preclude his full, complete and unfettered discharge of his
         duties under this Agreement.

10.      Notices. Any notices required to be given hereunder shall be in
         writing, and if by Zilog shall be addressed to Sack as indicated in
         Zilog's personnel records or such other address as Sack shall specify
         in writing and if by Sack to Zilog at:

                              Zilog, Inc.
                              210 East Hacienda Avenue
                              Campbell, California 95008-6600
                              Attn:  Vice President
                                     Human Resources and Administration

         Such addresses may be changed by written notice from either Zilog or
         Sack, to the other.

11.      Amendment. This Agreement may be amended only in writing, signed by
         both parties hereto.


                                       10
<PAGE>   11
12.      Successors and Assigns. This Agreement shall inure to the benefit of
         and be binding upon Zilog, its successors and assigns. Sack may not
         assign, transfer, pledge or hypothecate any of his rights or
         obligations hereunder, Awards or Payouts under EPIP or the Executive
         Bonus or other compensation to which he may be entitled hereunder.

13.      Waiver of Breach. The waiver by Zilog of a breach of any provisions of
         this Agreement by Sack shall not operate or be construed as a waiver of
         any subsequent breach by Sack.

14.      Severability. The invalidity or unenforceability of any provision
         hereof shall in no way affect the validity or enforceability of any
         other provision hereof.

15.      Entire Agreement. This entire Agreement consists of this document,
         together with the following documents:

         A.       EPIP, attached as Exhibit I;

         B.       Executive Bonus, attached as Exhibit II;

         C.       Zilog Employee Stock Option Plan, attached as Exhibit III;

         D.       Zilog Employee 1994 Long Term Stock Incentive Plan, attached
                  as Exhibit IV;


                                       11
<PAGE>   12
         E.       Employee Proprietary Rights and Non-Disclosure Agreement,
                  attached as Exhibit V;

         F.       Conflict of Interest Statement, attached as Exhibit VI;

         G.       Statement addressed to "Human Resources," attached as Exhibit
                  VII;

         H.       Policy on Business Ethics, attached as Exhibit VIII; and

         I.       PM60-05, attached as Exhibit IX.

16.      Governing Law. This Employment Agreement shall be governed by the laws
         of the State of California, without regard to conflict of laws
         principles.


Executed effective February 1, 1997


By /s/ Edgar A. Sack                  By /s/ William H. Janeway
  ------------------------------        ------------------------------
       Edgar A. Sack                         William H. Janeway


Dated: February 12, 1997              Dated: February 3, 1997
      --------------------------            --------------------------



                                       12