Document:

Exhibit 10.2

 

April 16, 2008

 

Linda J. Pahl

 

SEVERANCE AND GENERAL RELEASE
AGREEMENT

 

Dear Linda:

 

This Severance and
General Release Agreement (the “Agreement”) is made and entered into by and
between Linda J. Pahl (sometimes hereinafter referred to as “Employee”), on the
one hand, and International Rectifier Corporation on behalf of itself and its
divisions, facilities, subsidiaries and affiliated entities, successors and
assigns, or any of its or their respective past or present officers, directors,
trustees, shareholders, agents, employees, attorneys, insurers,
representatives, and each of them (hereinafter the “Company”, “IR”, or “Releasees”),
on the other hand.

 

Reference is made to the
following agreements between you and the Company (“Prior Agreements”):

 

1.               Severance Agreement, dated October 29, 2007; and

2.               Letter Agreement, dated March 6, 2008.

 

The purpose of this
Agreement is to set forth the terms and conditions of the separation of your
employment from the Company.  At this
time, in connection with your separation from employment you would be eligible
to receive:  (i) your already earned
salary (and to the extent you participate in a bonus plan, any accrued but
unpaid bonus through the last completed fiscal quarter of such plan, subject to
normal targets and plan design and based on results (if any) against goals
established for that period); and (ii) your accrued PTO, if any.  All of these payments, if applicable, minus
all applicable taxes and deductions, would typically be paid to you upon your
last day of employment with the Company, which is scheduled for April 16,
2008, with any amounts payable under
the bonus plan payable promptly upon a determination of the extent to which the
targets and goals of the plan have been achieved.  It is acknowledged that whether or not this
Agreement is signed, all your earned wages (including PTO), minus all
applicable taxes and deductions to which you are lawfully entitled, will be
paid at the time of termination of your employment.  You are also entitled to your vested benefits
under the Company’s 401K or deferred compensation plans to the extent you
participate in such plans and subject to the applicable plan terms and
conditions.

 

However, the parties wish
to offer to you additional payments and benefits on the conditions set forth
below, all in exchange for and contingent upon your signing and returning this
Agreement, including the release of claims incorporated herein in Paragraph 7 (and not revoking this
Agreement within the seven day revocation period described herein).

 

1.
Enhanced Severance:  Instead of (and not in addition to) any other
severance payment, you will be eligible to receive (i) one year of
severance pay, (ii) an amount equal to the sum of your 50% target bonus
currently in effect for this year (“Target Bonus”), plus (ii) the sum of
$40,000 (together “Enhanced Severance”), less appropriate taxes and other
required withholdings.  The Enhanced
Severance payments will be made within seven (7) calendar days following
the lapse of the revocation period described herein; provided however, that the
Target Bonus shall be paid upon the completion and filing with the SEC of the
Company’s contemplated restatement and related reports and on the condition
that you remain available to provide consulting services under the Consulting
Agreement (defined below) until such time.

 

2. Bonus: Your quarterly incentive bonus of
$35,000 shall be prorated through your employment separation date and shall be
payable to you within seven (7) calendar days following the lapse of the revocation
period described herein.

 

 

3.
Insurance/Outplacement Support:  You will be
eligible to continue under the Company’s health and dental insurance program
through April 30, 2008, at
which time you will be eligible to continue your medical and dental insurance
through COBRA.  Should you elect COBRA
coverage, the Company will pay the monthly premiums for the months of May 2008
and June 2008 so long as you remain eligible for the coverage.  However, if you accept other employment and
become eligible for health insurance coverage from any other employer, the
Company shall cease making any COBRA payments on your behalf.  You must provide immediate notice to the
Company of any new employment.  You also
will be eligible to convert your group life insurance coverage to an individual
policy at your sole expense.  You will
also have the option of receiving professional outplacement assistance at the
Company’s expense (the level depending on your job position) to assist you in
transitioning to a new opportunity.  The
Company will pay the outplacement provider directly for those services.

 

4. Stock
Options/Restricted Stock Units:  If you have
been granted stock options by the Company, all unvested stock options and
restricted stock units (including, without limitation, the right to receive an
award of 20,000 stock options and 6,000 restricted stock units that the Company
previously agreed to grant to you upon the Company becoming current in its SEC
reporting obligations) will terminate upon your termination of employment. You
will be eligible to exercise any vested stock options you have been granted
through the later of (i) one year following your employment termination
date, and (ii) the date that is 90 days after the Company is again current
in its financial statement reporting obligations under Section 13 of the
Securities Exchange Act of 1934 for the purposes of the exercise of stock
options under the Company’s stock option plan, after which time any and all of
your stock options that you have not exercised shall terminate and be of no
further force and effect; provided however, your vested stock options shall be
subject to all other terms and conditions of the plan and other documents under
which the options were originally granted, including, without limitation, early
termination upon the first to occur of (i) the maximum year term of such
options upon grant or (ii) a change of control of the Company, in each
case on the terms provided for under the applicable option plan and option
agreement.  This represents additional
consideration, as the normal exercise period for stock options is thirty (30)
days from termination.  Any eligibility
to exercise stock options is subject to the terms and conditions of the applicable
plan documents and option agreements, including without limitation, the Company’s
policies with respect to compliance with laws against insider trading and any
actions taken by the Company to suspend the execution of option exercises
during periods in which public financial statements are not current.

 

5.  Consulting Agreement.  Concurrently with the execution and delivery
of this Agreement, the Company and Pahl Consulting, Inc. shall enter into
a consulting agreement in the form attached hereto as Exhibit A (the “Consulting
Agreement”).  The Consulting Agreement
shall become effective upon the expiration of the revocation period set forth
herein.

 

6.
Confidentiality/Inventions:  You
acknowledge that you are still bound by any Inventions and Confidential
Information Agreement (“Confidentiality Agreement”) that you signed during or
shortly before you began your employment with the Company.  You acknowledge that by reason of your
position with the Company you have been given access to financial information,
lists of customers, prices, engineering plans, business plans, strategic plans,
technology, roadmaps, developments, inventions, and similar confidential or
proprietary materials or information respecting the Company’s business,
affairs, or plans.  You represent that
you have held all such information and materials confidential and that you will
continue to do so.  You also represent
that you will not use such information, materials, and relationships for any
business (which term herein includes a partnership, firm, corporation or any
other entity) at any future time without the prior written consent of the
Company’s General Counsel or designee.

 

7.
No Other Benefits:  You acknowledge and agree that the Company is
not, apart from this Agreement, obligated to provide you with the above referenced
payments and benefits and that no other monetary payments shall be made to you
in consideration for entering into this Agreement apart from those set forth
above.

 

8. Sole
Agreement/Amendment/No Inducements/No Admission of Liability:  Except for the Confidentiality Agreement referred to
herein, which shall continue in full force and effect,

 

 

this Agreement
constitutes and contains the entire agreement and understanding concerning the
subject matter referred herein, and supersedes and replaces all prior
negotiations and all proposed agreements, promises, covenants, guarantees,
representations, whether written or oral, express or implied, concerning any of
the subject matters hereof.  The parties
further acknowledge and agree that the Prior Agreements are hereby
terminated.  This Agreement can only be
modified by a later writing signed by you and the Company.  You acknowledge and agree that no promises or
representations have been made to you as an inducement to sign this Agreement
other than those expressly set forth in writing in this Agreement.  Nothing in this Agreement is, or ever should
be deemed to be, an admission by the Company of any liability, fault,
wrongdoing or mistake of any kind.  It is
contemplated that two duplicate original copies of this letter will be executed
by each of the parties hereto.  Each of
the duplicated originals and any photocopies or facsimile copies thereof shall
be deemed to be an original and the same document for all purposes.

 

9.
Release from Employee:  Except for those rights
expressly reserved in Paragraph 9.1, below, Employee hereby expressly releases
and waives any and all claims, liabilities, demands, damages, penalties, debts,
accounts, obligations, actions, grievances, and causes of action (“Claims”),
whether now known or unknown, suspected or unsuspected, whether in law, in
equity or in arbitration, of any kind or nature whatsoever, which Employee has
or claims to have, now or hereafter, against IR and/or the Releasees referred
to in the first paragraph of this Agreement, including, but not limited to, any
Claims arising out of or relating in any way to Employee’s employment at IR and
the termination thereof, and any and all benefits under the Prior
Agreements.  Without limiting the
foregoing, Employee hereby acknowledges and agrees that the Claims released by
this Agreement include, but are not limited to, any and all claims which arise
or could arise under Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act of 1967, the Federal Worker Adjustment and
Retraining Notification Act (or any similar state, local or foreign law), the
California Fair Employment and Housing Act, California statutory or common law,
the Orders of the California Industrial Welfare Commission regulating wages, hours,
and working conditions, and federal statutory law, or any Claim for severance
pay, bonus, sick leave, disability, holiday pay, vacation pay, life insurance,
health or medical insurance or any other fringe benefit. Nothing in this
Agreement shall limit in any way Employee’s right under California Workers’
Compensation laws to file or pursue any workers’ compensation claim.  This release shall not apply to any claims
that may not be waived as a matter of applicable law.

 

(a)   As part of this general release,
Employee expressly releases, waives and relinquishes all rights under Section 1542
of the California Civil Code which states:

 

“A GENERAL RELEASE DOES
NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN
HIS FAVOR AT THE TIME EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE
MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.”

 

1.                   Employee
acknowledges that he may later discover facts in addition to or different from
those which Employee now knows, or believes to be true, with respect to any of
the subject matters of this Agreement, but that it is nevertheless Employee’s
intention to settle and release any and all Claims released herein.

 

(b)   Employee warrants and represents that there
is not now pending any action; complaint, petition, charge, grievance, or any
other form of administrative, legal or arbitral proceeding by Employee against
IR and further warrants and represents that no such proceeding of any kind
shall be instituted by or on Employee’s behalf based upon any and all Claims
released herein.

 

(c)   Employee expressly acknowledges, understands
and agrees that this Agreement includes a waiver and release of all claims
which employee has or may have under Age Discrimination in Employment Act of
1967, as amended, 29 U.S.C. §621, et seq. (“ADEA”).  The following terms and conditions apply to
and are part of the waiver and release of ADEA claims under this Agreement:

 

(i)            Employee is advised to consult an
attorney before signing this Agreement;

 

 

(ii)           Employee is granted twenty-one
(21)  days after he/she is presented with
this Agreement to decide whether or not to sign this Agreement;

 

(iii)          Employee will have the right to revoke
the waiver and release of claims under the ADEA within seven (7) days of
signing this Agreement, and this Agreement shall not become effective and
enforceable until that revocation period has expired;

 

(iv)          Employee hereby acknowledges and
agrees that he/she is knowingly and voluntarily waiving and releasing Employee’s
rights and claims in exchange for consideration (something of value) in
addition to anything of value to which he/she is already entitled; and

 

(v)           Nothing in this Agreement prevents or
precludes Employee from challenging or seeking a determination in good faith of
the validity of this waiver under the ADEA, nor does it impose any condition
precedent, penalties or costs from doing so, unless specifically authorized by
federal law.

 

9.1  Exclusions
from Release:  Nothing herein shall release any rights
to indemnification from the Company, if any, that Employee may have in
connection with Employee’s actions taken in the course of her duties with the
Company, including without limitation, any such rights arising in connection
with claims asserted by third parties or by government agencies, including but
not limited to the Securities and Exchange Commission, the Internal Revenue
Service, and/or the Department of Justice. 
Furthermore, nothing herein shall release any rights, if any, that
Employee may have to payment of fees in advance of a final disposition.

 

10.
Arbitration:  Any dispute or controversy between you on the
one hand, and the Company (or any other Releasee), on the other hand, in any
way arising out of, related to, or connected with this Agreement or subject
matter thereof, or otherwise in any way arising out of, related to, or
connected with your employment with the Company or the termination of your
employment with the Company shall be resolved through final binding arbitration
in Los Angeles, California before a sole arbitrator selected from Judicial
Arbitration and Mediation Services, Inc. or its successor (“JAMS”), or if
JAMS is no longer able to supply the arbitrator, such arbitrator shall be
selected from the American Arbitration Association. Final resolution of any dispute
through arbitration may include any remedy or relief which the Arbitrator deems
just and equitable, including any and all remedies provided by applicable state
or federal statutes.  At the conclusion
of the arbitration, the Arbitrator shall issue a written decision that sets
forth the essential findings and conclusions upon which the Arbitrator’s award
or decision is based.  Any award or
relief granted by the Arbitrator hereunder shall be final and binding on the
parties hereto and may be enforced by any court of competent jurisdiction.  The parties agree that the Company shall be
responsible for payment of all costs unique to arbitration, including the
Arbitrator’s fee.

 

11.
Severability/Choice of Law:  Should any
provision of this Agreement be declared or be determined by any court to be
illegal or invalid, the validity of the remaining parts, terms or provisions
shall not be affected thereby and said illegal or invalid part, term or
provision shall be deemed not to be part of this Agreement.  The terms of this Agreement shall be governed
by, and construed in accordance with the laws of the State of California
without regard to conflicts of laws principles.

 

10.  Binding
Effects:  This Agreement shall
be binding upon and inure to the benefit of Employee and the Company, its
successors and assigns.

 

If you understand and agree to the terms set forth in
this letter, please sign and date the two duplicate originals where indicated
below, and return one of them to me.  The
other original is for your records.

 

Further, you acknowledge and agree that you carefully
have read and fully understand this Agreement, and that you have had full
opportunity to seek advice from independent counsel of your own choice about
any questions, concerns or issues you may have in connection with this
Agreement.

 

We wish you the best of luck in your future endeavors.

 

Very truly yours,

 

INTERNATIONAL RECTIFIER CORPORATION

 

 

	
  By:

  	
   

  	
   

  

 

I have read and understand this
Agreement, and I consent to all its terms and provisions.

 

 

	
  Dated:    April 16,
  2008

  	
   

  
	
   

  	
   

  
	
   

  	
  Linda J. PahlExhibit 10.3

 

CONSULTING AGREEMENT

 

This Agreement is
made as of April 16, 2008 (“Effective Date”), by and between International
Rectifier Corporation (“Company”), having a principal place of business at 233
Kansas Street, El Segundo, California 90245, and Pahl Consulting, Inc.
, with a place of business at 703 Pier Avenue, Suite B712, Hermosa Beach,
California 90254 (“Consultant”).

 

R  E  C  I  T
A  L  S

 

WHEREAS, Company
desires to retain Consultant as an independent contractor consultant, and
Consultant desires to act in such capacity, to advise, consult with, and assist
the Company with respect to certain consulting services;

 

WHEREAS,
Consultant is willing and able to render said services.

 

NOW, THEREFORE, in
consideration of the premises, and of the mutual terms, conditions and
covenants set forth below, the parties hereto agree as follows:

 

GENERAL PROVISIONS

 

1.             Consultant’s Services.  During the Term (as hereinafter defined) of
this Agreement, Consultant agrees to provide consulting services relating to the
financial reconstruction and restatement activities of the Company and such
other consulting services and projects as the Company may require, from time to
time.  Consultant normally will report to
Peter Knepper, Chief Financial Officer (acting) of the Company, or to such
other person as he or his successor or designee, may direct (“Supervisor”).  Consultant agrees that Consultant will not
undertake any assignment under this Agreement without first receiving the prior
consent of such person.  During the Term
of this Agreement, Consultant shall perform services per calendar month as
requested by the Supervisor in person or by electronic mail or telephone to
assist in those matters outlined above; provided however, additionally services
may be provided upon the written consent of Supervisor.  Consultant further agrees that all services
and work performed hereunder shall be conclusively deemed to be works-for-hire
and as such all title and rights in such works shall exclusively belong to the Company.  Consultant shall apply Consultant’s best
efforts and services to support Company whenever called upon by the terms of
this Agreement at such times and places so as to maximize Company’s benefits
from Consultant’s performance, and in its performance shall provide services by
its designee Linda J. Pahl .

 

2.             Compensation.

 

(a) Fees.  In consideration of the services to be
rendered by Consultant, Company shall pay Consultant a fee of $3,000 per day .

 

(b) Reimbursable
Expenses/Computer.  In addition to
the amount specified in subparagraph (a), Company shall reimburse Consultant
for reasonable, necessary and substantiated expenses incurred by Consultant in
connection with services rendered hereunder; provided, however, that travel and
entertainment expenses will not be reimbursed unless first approved in writing
by the Company.  Expenses will be
reimbursed only after presentation to the Company of receipts, invoices and
other appropriate documentation. 
Consultant will be provided the use of a Company-owned computer on which
Consultant shall retain information related to the Company and the consulting
service provided hereunder.

 

(c) Manner
of Payment.  Each calendar month,
Consultant shall prepare and submit to Company a statement of time worked, a
description of services provided and a report of accomplishments and expenses
incurred during the preceding calendar month, together with such supporting
documentation as may be required by Company. 
The Company shall make payment to 

 

 

Consultant within thirty
(30) days after receipt of said documentation for such fees, costs and expenses
as are payable under the terms of this Agreement.

 

3.             (a) Status as Independent
Contractor.  Consultant acknowledges
and agrees that Consultant is acting under this Agreement solely as an independent
contractor, and not as an employee or an agent of Company and shall have no
authority to act for or bind or obligate Company in any manner except to the
extent specifically authorized in writing by the Company.  Consultant represents Company only as to the
results of Consultant’s  work under this
Agreement, and not as to the means whereby it is to be accomplished.  Consultant hereby represents, covenants and
agrees that Consultant will not represent to others that Consultant is an
employee, officer or agent of the Company or that Consultant has the power to
bind the Company in any respect. 
Consultant acknowledges that Consultant is solely responsible for
determining the manner and means of accomplishing the results desired pursuant
to this Agreement.  Accordingly, nothing
herein contained shall be construed as creating the relationship of employer
and employee or principal and agent between the Company and Consultant.

 

(b) Ineligible
for Employee Benefits.  Consultant
shall not be eligible for any benefit available only to employees of Company,
including, but not limited to, workers’ compensation insurance, state
disability insurance, unemployment insurance, group health and life insurance,
vacation pay, sick pay, severance pay, bonus plans, pension plans, savings
plans and the like.

 

(c) Payroll
Taxes.  No federal or state income,
payroll, social security, state disability or other government tax will be
deducted from payments made to Consultant under this Agreement.  Consultant agrees to pay all state and
federal taxes and other such levies and charges as they become due on account
of monies paid to Consultant hereunder, and to defend, indemnify and hold
Company harmless from and against any and all liability resulting from any
failure to do so.

 

4.             Term.  The term of this Agreement shall be six (6) months
commencing on the Effective Date (“Term”). 
This Agreement may be earlier terminated under Section 5,
below.  This Agreement shall not be
renewed or extended except by the mutual written agreement of the parties.

 

5.             Termination.

 

(a) Each
party shall have the right at any time, with or without cause to terminate this
Agreement upon thirty (30) days prior written notice to the other.

 

(b) Company
shall have the further right to terminate this Agreement at any time, without
prior notice, if Consultant fails to fulfill the obligations imposed upon
Consultant by this Agreement; fails to perform to Company’s satisfaction any
service requested by Company hereunder; or otherwise engages in conduct which
adversely affects either the reputation of Company or its ability to conduct
its business.

 

6.             Termination of Services and
Return of Company Property.  Upon the
expiration or earlier termination of this Agreement, Consultant shall
immediately terminate Consultant’s services hereunder, and shall deliver
promptly to Company all property in Consultant’s possession or under Consultant’s
control relating to the business, work and investigations of the Company, and
to any Inventions, patents or copyrights covered by this Agreement.  Such property shall include but not be
limited to all written, graphical and recorded material, all copies, abstracts
or summaries thereof, and all tools and equipment, including computers and electronic
information, owned by the Company.

 

7.             Conflicts of Interest.  Consultant warrants and represents that
Consultant is not presently subject to any agreement with a competitor of the
Company, or to any other contract, oral or written, that will prevent him from
performing in full accord with this Agreement. 
In the event Consultant has or develops a conflict of interest in
pursuit of Consultant’s business activities, Consultant will notify Company
immediately of such fact and of the name of the person, firm, company or
corporation with whom Consultant believes the conflict exists.  Consultant agrees that during the Term of
this Agreement, Consultant shall not work or provide services, directly or
indirectly, to any competitor of Company.

 

 

8.             Proprietary Information.  Consultant acknowledges that, during the  retention by Company, Consultant may have
access to and become acquainted with confidential and other information
proprietary to the Company, including, but not limited to, financial, business
and technical information, information concerning the Company, its operations,
customers, business and financial condition, as well as information with
respect to which the Company has an obligation to maintain confidentiality
(collectively referred to herein as “Proprietary Information”).  Consultant agrees not to disclose, directly
or indirectly, to anyone, or let others use, for any purpose whatsoever, any
Proprietary Information, of any type, whether or not designated confidential or
proprietary, acquired in the course of Consultant’s performance under this
Agreement.

 

9.             (a) Inventions and
Discoveries.  Consultant agrees
promptly to disclose and assign to the Company all inventions, discoveries,
ideas, concepts, designs, data and information (including without limitation
products, software (including without limitation, all code), information
systems, processes, methods, formulas and techniques, as well as improvements
thereof or know-how related thereto), regardless of whether patentable or
copyrightable, which are made or conceived by Consultant, whether solely or
jointly with others, during the Term of this Agreement (1) in the course
of work performed for the Company; or (2) with the use of the Company’s
time, material, Proprietary Information or facilities; or (3) related to
or suggested by any of the business, work or investigations of the
Company.  All such inventions,
discoveries, ideas, concepts, designs, data and information are referred to
herein as “Inventions.”  Consultant
agrees that all such Inventions shall from their inception be the exclusive
property of the Company or its designee, whether or not patent or copyright
applications are filed thereon, and Consultant hereby expressly waives for
himself any right or interest Consultant may have therein.  Consultant agrees to provide, without
additional compensation, such assistance as may reasonably be required by the
Company in obtaining patents and copyrights for such Inventions in any and all
countries, and in enforcing any of the Company’s rights and interests relating
to such Inventions or to any patents or copyrights resulting therefrom,
including without limitation the execution by Consultant of all applications,
assignments and other instruments as the Company may request.

 

(b) No
Restriction on Use or Disclosure. Consultant warrants and represents that
all of the Inventions, findings and recommendations disclosed by Consultant to
the Company during the course of this Agreement may lawfully be disclosed by
him and are not subject to any patent, license agreement, confidentiality agreement,
trade secret law or any other restriction on use by or disclosure to the
Company.

 

(c) Power
of Attorney.  Consultant hereby
irrevocably constitutes and appoints Company to act as Consultant’s agent and
attorney-in-fact for the limited purpose of performing such acts and executing
such documents as may be necessary to assign or transfer to or vest in Company
any Inventions and discoveries, including, without limitation, the execution
and delivery of any documents that may be necessary to apply for or obtain
patents or copyrights.

 

10.           Survival.  The obligations assumed by Consultant
pursuant to paragraphs 6, 8, 9 and 11 through 16 hereof shall survive the
expiration or earlier termination of this Agreement.

 

MISCELLANEOUS
PROVISIONS

 

11.           Waiver, Modification and Amendment.  No provision of this Agreement may be waived
unless in writing, signed by the parties hereto.  Waiver of any one provision of this Agreement
shall not be deemed to be a waiver of any other provision.  This Agreement may be modified or amended
only by a written agreement executed by the parties hereto.

 

12.           Construction/Arbitration.  This Agreement shall be governed and
construed in accordance with the laws of the State of California. Any dispute
or controversy between you on the one hand, and the Company, on the other hand,
in any way arising out of, related to, or connected with this Agreement or
subject matter thereof, or otherwise in any way arising out of, related to, or
connected with your services hereunder with the Company shall be resolved
through final binding arbitration in 

 

 

Los Angeles, California
before a sole arbitrator selected from Judicial Arbitration and Mediation
Services, Inc. or its successor (“JAMS”), or if JAMS is no longer able to
supply the arbitrator, such arbitrator shall be selected from the American
Arbitration Association. Final resolution of any dispute through arbitration
may include any remedy or relief which the Arbitrator deems just and equitable,
including any and all remedies provided by applicable state or federal
statutes.  At the conclusion of the
arbitration, the Arbitrator shall issue a written decision that sets forth the
essential findings and conclusions upon which the Arbitrator’s award or
decision is based.  Any award or relief
granted by the Arbitrator hereunder shall be final and binding on the parties
hereto and may be enforced by any court of competent jurisdiction.  The parties agree that the Company shall be
responsible for payment of all costs unique to arbitration, including the Arbitrator’s
fee.

 

13.           Assignment.  Neither this Agreement nor any duties or
obligations hereunder shall be assigned or transferred by Consultant without
the prior written approval of Company.

 

14.           Partial Invalidity.  If any provision of this Agreement is held by
a court of competent jurisdiction to be invalid, void or unenforceable, the
remaining provisions shall nevertheless continue in full force and effect.

 

15.           Entire
Agreement.  This Agreement contains
the entire agreement and understanding of the parties with respect to the
subject matter hereof, and supersedes and replaces any and all prior
discussions, representations and understandings, whether oral or written.

 

IN WITNESS WHEREOF, the undersigned have executed this
Agreement as of the date set forth above.

 

 

	
  International
  Rectifier Corporation

  	
  Pahl
  Consulting, Inc.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:  

  	
   

  	
   

  	
  By:  

  	
   

  
	
  Name:

  	
   

  
	
  Title:

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