Document:

exv10w1

Exhibit 10.1

Execution Version

AMENDMENT TO LONG-TERM RETENTION AGREEMENT

     AMENDMENT dated as of January 14, 2010 to Long-Term Retention Agreement dated as of October
22, 2007, as amended (the “2007 Agreement”) by and between Analog Devices, Inc., a Massachusetts
corporation (the “Corporation”), and Jerald G. Fishman (the “Executive”).

     WHEREAS, the Corporation and the Executive are entering into an Amended and Restated
Employment Agreement dated as of the date hereof;

     WHEREAS, in connection therewith, the Corporation and the Executive desire to amend the 2007
Agreement to eliminate Executive’s right to indemnification for any excess parachute payment tax
upon a change in control of the Corporation, upon the terms set forth in this Amendment; and

     NOW THEREFORE, for valuable consideration, receipt of which is acknowledged, the parties agree
as follows:

	 	1.	 	The 2007 Agreement is hereby amended by deleting Sections 3(c) and 3(e) of the
2007 Agreement and all references in the 2007 Agreement to the terms defined in Section
3(e) of the 2007 Agreement.
	 
	 	2.	 	The reference in Section 3(a) to “Treasury Regulation Section 1.409A-3(j)(vi),
(vii) and (ix)” is hereby corrected to refer to “Treasury Regulation Section
1.409A-3(j)(4)(vi), (vii) and (ix)” and the reference to “Treasury Regulation Section
1.409A-3(j)” is herby corrected to refer to “Treasury Regulation Section
1.409A-3(j)(4)”
	 
	 	3.	 	In all other respects, the 2007 Agreement shall remain in full force and
effect.

     IN WITNESS WHEREOF, Executive has hereunto set his hand and the Corporation has caused this
Amendment to be executed in its name on its behalf, all as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	Jerald G. Fishman	 	 
	 
	 	 	 	 	 	 
	 	 	ANALOG DEVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: James A. Champy	 	 
	 	 	Title: Chairman of Compensation Committeeexv10w2

Exhibit 10.2

Execution Version

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

     AMENDED AND RESTATED EMPLOYMENT AGREEMENT dated January 14, 2010 (the “Effective Date”), by
and between Analog Devices, Inc., a Massachusetts corporation (the “Corporation”), and Jerald G.
Fishman (the “Executive”).

     WHEREAS, the Corporation and the Executive desire to amend and restate the Employment
Agreement dated as of November 14, 2005 between the Corporation and Executive (the “Original
Employment Agreement”), in order to extend the term of Executive’s employment with the Corporation
and make the other changes set forth herein; and

     NOW THEREFORE, for valuable consideration, receipt of which is acknowledged, the parties agree
as follows:

1. Term of Agreement. The term of this Agreement shall commence as of the Effective Date
and, subject to earlier termination pursuant to Section 2.3 or 4, expire on October 28, 2012 (the
“Employment Period”).

2. Position and Duties.

     2.1. The Corporation hereby agrees to continue to employ Executive as Chief Executive Officer
of the Corporation during the Employment Period. Executive shall report to the Board of Directors
of the Corporation (the “Board”) and shall have such authority, duties and responsibilities as
shall be consistent with those of the president and chief executive officer of a publicly traded
corporation.

     2.2. Executive hereby accepts such continued employment and agrees to continue to undertake
the duties and responsibilities set forth in Section 2.1. Executive shall devote his full business
time and attention to the business of the Corporation during the Employment Period,
provided, however, that Executive may (i) serve on civic, educational,
philanthropic or charitable boards or committees, (ii) deliver lectures and fulfill speaking
engagements and (iii) serve on the boards and committees of other companies with the prior approval
of the Board.

3. Compensation.

     3.1. Base Salary. During the Employment Period, the Corporation shall pay to
Executive a base salary at an annual rate equal to $930,935 for each year of the Employment Period,
as adjusted below (“Base Salary”), payable in accordance with the regular pay policy of the
Corporation. During the Employment Period, Base Salary may be increased, but not decreased, at the
discretion of the Board or the Compensation Committee thereof, provided that the Board or
Compensation Committee may decrease the Base Salary to the extent such decrease is consistent with
a salary reduction generally applicable to the executive officers of the Corporation.

     3.2. Bonus. For each fiscal year during the Employment Period, Executive shall be
entitled to an annual bonus (the “Annual Bonus”) under the
annual performance bonus plan established by the Board or Compensation Committee of the Board (the “Committee”) for the
Corporation’s executive officers for the applicable year (as it may be amended or modified from
year to year, the “ADI Bonus Plan”). The target annual bonus for Executive under the ADI

 

 

Bonus Plan shall be 160% of his annual Base Salary for the applicable fiscal year (the “Target Annual
Bonus”). The specific performance objectives applicable to the calculation of Executive’s Annual
Bonus shall be established by the Committee, in its sole discretion, and may vary from year to
year, provided that the performance objectives shall be reasonably achievable and shall be
consistent with the business objectives of the Corporation. Any Annual Bonus payable under this
provision shall be paid no later than 2 1/2 months after the end of the later of (i) the calendar
year in which it was earned or (ii) the Corporation’s fiscal year in which it was earned.

     3.3. Additional Bonus. For each fiscal year during the Employment Period commencing
with the fiscal year that begins on October 31, 2010, Executive shall be entitled to an additional
annual bonus (the “Additional Bonus”), not to exceed $5 million for any fiscal year, equal to two
(2) times the Annual Bonus paid to the Executive for such fiscal year. Such Additional Bonus shall
be paid at the same time(s) that payment(s) of the Annual Bonus are made to the Executive under the
ADI Bonus Plan. Any Additional Bonus payable under this Section 3.3 shall be paid no later than 21/2
months after the end of the later of (i) the calendar year in which it was earned or (ii) the
Corporation’s fiscal year in which it was earned.

     3.4. Welfare Benefit Plans, Etc. During the Employment Period, Executive and/or
Executive’s family, as the case may be, shall be eligible for participation in and shall receive
benefits under each welfare benefit, savings, retirement and similar plan of the Corporation
generally available to executives of the Corporation, including, without limitation, all medical,
prescription, dental, disability, life, accidental death and travel accident insurance plan and
programs of the Corporation.

     3.5. Expenses. During the Employment Period, Executive shall be entitled to receive
prompt reimbursement for all reasonable expenses incurred by Executive in the performance of his
duties hereunder, subject to the submission of such written documentation as the Corporation may
reasonably require in accordance with its standard expense reimbursement practices and policies.
Such reimbursement must be made no later than the end of the calendar year following the taxable
year in which the expense is incurred, the expenses eligible for reimbursement under this provision
may not affect the amount of such expenses eligible for reimbursement in any other taxable year,
and the right to reimbursement is not subject to liquidation or exchange for another benefit.

     3.6. Vacation. During the Employment Period, Executive shall be entitled to five
weeks per fiscal year of paid vacation.

     3.7. RSU Grant. On January 15, 2010, the Corporation shall grant to Executive,
restricted stock units (the “RSUs”) for 160,000 shares of common stock of the Corporation (“Common
Stock”) as provided in the confirming memorandum attached hereto as Exhibit A.

     3.8. Financial Planning and Other Expenses. During the Employment Period, the
Corporation shall pay to Executive such amount as necessary to reimburse Executive, on an after-tax
basis, for up to $50,000 of his documented expenses incurred each fiscal year for
financial, tax and estate planning services. Such reimbursement must be made no later than
the end of the calendar year following the taxable year in which the expense is incurred, the
expenses eligible for

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reimbursement under this provision may not affect the amount of such expenses
eligible for reimbursement in any other taxable year, and the right to reimbursement is not subject
to liquidation or exchange for another benefit.

     3.9. Interest on Deferred Compensation. Pursuant to, and subject to the terms and
conditions of, the Long-Term Retention Agreement dated as of October 22, 2007, as amended between
Executive and the Company (the “2007 Retention Agreement”), on or before November 14, 2010 the
Corporation may be required to credit to Executive’s account in the Corporation’s Deferred
Compensation Plan, as it may be amended from time to time (the “DCP”), the Retention Amount (as
defined in the 2007 Retention Agreement), as adjusted for any permitted distributions under Section
3(a) of the 2007 Retention Agreement (the “DCP Account”). With respect to any portion of the DCP
Account held in the DCP as to which Executive has elected the money market investment option, the
Corporation shall, as soon as administratively practicable after the end of each month, credit to
Executive’s DCP Account as additional earnings thereon an amount equal to the amount by which the
interest actually earned on such portion of the DCP Account during such month is less than the
interest that would have been earned thereon if invested at the mid-term applicable federal rate
under Section 1274(d) of the Internal Revenue Code (the “AFR”) as in effect for October 2010 with
respect to the balance of calendar 2010, for December 2010 with respect to calendar 2011, for
December 2011 with respect to calendar 2012 and for December 2012 with respect to calendar 2013.
Executive shall not change his investment option for his DCP Account more than once per fiscal
quarter. Any amount so credited to Executive’s DCP Account pursuant to this Section 3.9 shall only
be paid to Executive at the same time and in the same manner as the Retention Amount, provided that
the Corporation may in accordance with, and to the maximum extent permitted by Treasury Regulation
Sections 1.409A-3(j)(4)(vi), (vii) or (xi), and any amended or successor provision, pay from the
DCP Account to the Executive or the relevant taxing authority the amount of any tax described in
such Treasury Regulations imposed on the amounts credited to the DCP Account pursuant to this
Section 3.9 on or before the due date of such tax.

4. Termination. Executive’s employment under this Agreement shall terminate under the
following circumstances:

     4.1. Death or Disability. The Employment Period shall terminate automatically upon
Executive’s death. The Corporation may terminate the Employment Period, after having established
Executive’s Disability, by giving to Executive written notice of its intention to terminate
Executive’s employment. In such a case, Executive’s employment with the Corporation shall
terminate effective on the 180th day after receipt of such notice (the “Disability Effective
Date”), provided that, within 180 days after such receipt, Executive shall not have returned to
full performance of Executive’s duties. For purposes of this Agreement, “Disability” means
personal injury, illness or other cause which, after the expiration of not less than 180 days after
its commencement, renders Executive unable to perform his duties with substantially the same level
of quality as immediately prior to such incident and such disability is determined to be total and
permanent by a physician selected by the Corporation or its insurers and acceptable to Executive or
Executive’s legal representative (such agreement as to acceptability not to be withheld
unreasonably).

     4.2. With or Without Cause. The Corporation may terminate Executive’s employment with
or without “Cause.” The Employment Period shall immediately end upon a termination by the

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Corporation with Cause. For purposes of this Agreement, “Cause” means (i) the willful and continued
failure of Executive to perform substantially his duties with the Corporation (other than any such
failure resulting from Executive’s incapacity due to physical or mental illness) after a written
demand for substantial performance is delivered to Executive by the Board which specifically
identifies the manner in which the Board believes that Executive has not substantially performed
Executive’s duties, (ii) the willful engaging by Executive in gross and reckless negligence which
materially and adversely affects the Corporation’s business; (iii) Executive’s willful engaging in
conduct that is materially injurious to the Corporation; (iv) Executive’s conviction (by a court of
competent jurisdiction, not subject to further appeal) of, or pleading guilty to, a felony, or (v)
a material breach of any of Executive’s obligations not to compete with the Corporation or to
maintain the confidentiality of its confidential and proprietary information.

     For purpose of this Section 4.2, no act or failure to act by Executive shall be considered
“willful” unless done or omitted to be done by Executive in bad faith and without reasonable belief
that Executive’s action or omission was in the best interests of the Corporation. Any act, or
failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or
based upon the advice of counsel for the Corporation shall be conclusively presumed to be done, or
omitted to be done, by Executive in good faith and in the best interests of the Corporation. Cause
shall not exist unless and until (a) in the event of any Cause defined and clauses (i), (ii), (iii)
and (v) above, a written notice has been provided to the Executive by the Board specifically
identifying the Cause that is the basis for the Board’s determination and Executive has failed to
cure or remedy the action or omission so identified within a period of 30 days after Executive’s
receipt of such notice (unless the action or omission is of a nature that it cannot be cured or
remedied), and (b) the Corporation has delivered to Executive, along with the Notice of Termination
for Cause, a copy of a resolution duly adopted by the Board (excluding Executive if Executive is a
Board member) at a meeting of the Board called and held for such purpose (after reasonable notice
to Executive and an opportunity for Executive, together with counsel, to be heard before the
Board), finding that in the good faith opinion of the Board an event set forth in clauses (i) to
(v) above has occurred and specifying the particulars thereof in detail. If the Board does not
notify Executive that any occurrence or event shall constitute “Cause” within sixty (60) days
following the Board’s first knowledge of such occurrence or event, such occurrence or event shall
not constitute Cause under this Agreement. Any events, facts or circumstances known to the Board
that have occurred prior to the Effective Date, and any consequences thereof (whether before or
after the Effective Date), shall not constitute “Cause” under this Agreement.

     4.3. With or Without Good Reason. Executive’s employment may be terminated by
Executive with or without Good Reason. The Employment Period shall immediately end upon a
termination by Executive with or without Good Reason. For purposes of this Agreement, “Good
Reason” means:

          (i) (a) the assignment to Executive of any duties inconsistent in any material respect with
his position as Chief Executive Officer of the Corporation or any other action by the Corporation
that results in a material diminution in his authority, duties or responsibilities, excluding for
this purpose an isolated, insubstantial and inadvertent action not taken in bad faith that is
remedied by the Corporation properly after receipt of notice thereof given by Executive to
the Board, or (b) a material and adverse change in Executive’s title or office (including his
position as President and Chief Executive Officer) with the Corporation;

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          (ii) any failure by the Corporation to comply in any material respect with any of the
provisions of Section 3 of this Agreement;

          (iii) the Corporation requiring Executive to be based at any office or location more than 50
miles from Norwood, Massachusetts, or requiring Executive to travel in the performance of his
duties significantly more extensively than the customary travel requirements of Executive as of the
Effective Date;

          (iv) any purported termination by the Corporation of Executive’s employment otherwise then as
permitted by this Agreement, it being understood that such purported termination shall not be
effective for any purpose of this Agreement; or

          (v) any failure by the Corporation to comply with and satisfy Section 9.3 of this Agreement,
including the failure of any successor to the Corporation to expressly assume and agree to perform
this Agreement with Executive, to the full extent set forth in said Section 9.3;

Notwithstanding the foregoing, a termination by Executive with Good Reason shall be effective only
if, within 30 days following the delivery of a Notice of Termination for Good Reason by Executive
to the Corporation, the Corporation has failed to cure the circumstances giving rise to Good Reason
to the reasonable satisfaction of Executive.

     4.4. Expiration of the Employment Period. Executive’s employment shall terminate upon
the expiration of the Employment Period.

     4.5. Notice of Termination. Any termination by the Corporation with or without Cause
or by Executive with or without Good Reason shall be communicated by Notice of Termination to the
other party hereto, given in accordance with Section 10.5 of this Agreement. For purposes of this
Agreement, a “Notice of Termination” means a written notice which (i) indicates the specific
termination provision in this Agreement relied upon, (ii) sets forth in reasonable detail the facts
and circumstances claimed to provide a basis for termination of Executive’s employment under the
provision so indicated and (iii) if the termination date is other than the date of receipt of such
notice, specifies the proposed termination date.

5. Obligations of the Corporation Upon Termination.

     5.1. Death. If Executive’s employment is terminated by reason of Executive’s death,
the Corporation shall:

          (i) pay to Executive’s surviving spouse or, if there is no surviving spouse, his estate,
within 30 days of the date of termination of employment, to the extent not previously paid,
Executive’s accrued Base Salary, and accrued vacation pay, through the date of termination;

          (ii) pay to Executive’s surviving spouse or if there is no surviving spouse his estate, the
amount of the Annual Bonus and Additional Bonus, to the extent not previously paid,
that would have been paid to Executive under this Agreement with respect to the period from
the beginning of the fiscal year to the end of the fiscal quarter in which termination occurs if
Executive had remained Chief Executive Officer of the Corporation through the end of such

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fiscal quarter, such amount to be paid at the same time that Executive would have received such payment if
he had remained Chief Executive Officer of the Corporation, provided such amount shall be paid no
later than 21/2 months after the end of the later of (i) the calendar year in which the date of
termination occurs or (ii) the Corporation’s fiscal year in which the date of termination occurs;
and

          (iii) provide those death benefits to which Executive is entitled at the date of Executive’s
death under any death benefit plans, policies or arrangements of the Corporation paid at the time
provided for under such plans, policies or arrangements.

     5.2. Disability. If Executive’s employment is terminated by reason of Executive’s
disability, the Corporation shall:

          (i) pay to Executive, within 30 days of the date of termination of employment, to the extent
not previously paid, Executive’s accrued Base Salary, and accrued vacation pay, through the date of
termination;

          (ii) pay to Executive the amount of the Annual Bonus and Additional Bonus, to the extent not
previously paid, that would have been paid to Executive under this Agreement with respect to the
period from the beginning of the fiscal year to the end of the fiscal quarter in which termination
occurs if Executive had remained Chief Executive Officer of the Corporation through the end of such
fiscal quarter, such amount to be paid at the same time that Executive would have received such
payment if he had remained Chief Executive Officer of the Corporation, provided such amount shall
be paid no later than 21/2 months after the end of the later of (i) the calendar year in which the
date of termination occurs or (ii) the Corporation’s fiscal year in which the date of termination
occurs; and

          (iii) provide those benefits to which Executive is then entitled under any disability plan,
policies or arrangements of the Corporation paid at the time provided for under such plans,
policies or arrangements.

     5.3. Cause or Without Good Reason. If Executive’s employment shall be terminated (i)
by the Corporation with Cause, or (ii) by Executive without Good Reason, the Corporation shall pay
Executive within 30 days of the date of termination of employment his accrued Base Salary and any
accrued vacation pay through the date of termination and any Annual Bonus or Additional Bonus
earned with respect to a then completed fiscal quarter but not yet paid, and shall have no further
obligations to Executive under this Agreement. In any such event, there shall be no acceleration
of vesting of any outstanding options or RSUs then held by Executive.

     5.4. Without Cause or With Good Reason. Subject to Section 10.9, if Executive’s
employment shall be terminated (i) by the Corporation without Cause or (ii) by Executive with Good
Reason:

          (i) the Corporation shall pay to Executive within 30 days of the date of termination of
employment, to the extent not previously paid, Executive’s accrued Base Salary,
and accrued vacation pay, through the date of termination;

          (ii) the Corporation shall pay to Executive, in a lump sum in cash:

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               (a) the amount of the Annual Bonus and Additional Bonus, to the extent not previously paid,
that would have been paid to Executive under this Agreement with respect to the period from the
beginning of the fiscal year to the end of the fiscal quarter in which termination occurs if
Executive had remained Chief Executive Officer of the Corporation through the end of such fiscal
quarter, such amount to be paid at the same time that Executive would have received such payment if
he had remained Chief Executive Officer of the Corporation, provided such amount shall be paid no
later than 21/2 months after the end of the later of (i) the calendar year in which the date of
termination occurs or (ii) the Corporation’s fiscal year in which the date of termination occurs;

               (b) if termination occurs prior to the last quarter of fiscal 2012, within 30 days after the
date of termination, the amount of Base Salary and Annual Bonus that would have been paid to
Executive under this Agreement if Executive had remained Chief Executive Officer of the Corporation
from the date of termination to October 28, 2012 (such Annual Bonus to be calculated at the target
level of 160% of Base Salary, to commence with the first fiscal quarter following the fiscal
quarter in which termination occurs, and to assume a bonus factor of one under the ADI Bonus Plan);
and

               (c) within 30 days after the date of termination, an additional amount equal to the sum of
Executive’s then annual Base Salary and Target Annual Bonus.

          (iii) the Corporation shall provide to Executive the medical and dental benefits, available to
Executive immediately prior to such termination until October 28, 2012, with the Corporation paying
the same percentage of the cost of such benefits with respect to the Executive as prior to such
termination, such payments to be made each calendar month, or if the Corporation determines it
cannot reasonably provide such benefits until October 28, 2012, then it will make a lump sum
payment to the Executive within 60 days of the date of termination equal to the Corporation’s good
faith estimate of the Executive’s cost of obtaining such benefits for the portion of the period
during which such benefits cannot be provided by the Corporation; and

          (iv) all unvested outstanding stock options to purchase, Common Stock then held by Executive
shall become fully vested and exercisable in full and all unvested RSUs then held by Executive
shall become fully vested and shall be converted into Common Stock on such date of termination.

     5.5. Expiration of Employment Period. If Executive’s employment shall terminate on
October 28, 2012 upon expiration of the Employment Period, Executive shall receive the payments and
benefits set forth in Sections 5.4(i) and 5.4(ii)(c) above, and all then unvested outstanding stock
options to purchase Common Stock held by Executive become fully vested and exercisable in full.

6. Consulting.

     6.1. If Executive terminates his employment with the Corporation with Good Reason
pursuant to Section 4.3 of this Agreement, Executive shall make himself available as a
consultant for up to two days a week, for up to 12 months after such termination, to perform such
services as may be reasonably requested by the Corporation after reasonable consultation with
Executive and at a mutually agreeable location.

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     6.2. If Executive’s employment with the Corporation terminates upon expiration of the
Employment Period pursuant to Section 4.4, and if and as long as Executive is not serving as a
member of the Board, Executive shall make himself available as a consultant for up to one day a
week, until January 15, 2013, to perform such services as may be reasonably requested by the
Corporation after reasonable consultation with Executive and at a mutually agreeable location.

     6.3. Notwithstanding anything to the contrary in this Section 6, the Executive and the
Corporation agree that in no event will the Corporation require, nor will the Executive perform, a
level of consulting services that would result in the Executive not having had a “separation from
service” (within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended, and
the guidance issued thereunder (“Section 409A”)) from the Corporation and its subsidiaries as of
the date of termination of employment pursuant to Section 4.3 or 4.4, as applicable.

     6.4. All reasonable and necessary business expenses incurred by the Executive in the
performance of consulting services requested by the Corporation shall be promptly reimbursed by the
Corporation in accordance with its standard expense reimbursement policies applicable to
independent contractors.

     6.5. Executive shall be entitled to no consideration for consulting services performed under
this Section 6, other than the payments and benefits provided for under Sections 3.9 and 5 of this
Agreement.

7. Non-Exclusivity of Rights. Nothing in this Agreement shall prevent or limit Executive’s
continuing or future participation in any benefit, bonus, incentive (whether cash or equity based,
or otherwise) or other plan or program provided by the Corporation or any of its affiliated
companies and for which Executive may qualify, nor shall anything herein limit or otherwise affect
such rights as Executive may have under any stock option or other agreements with the Corporation
or under COBRA. For avoidance of doubt, the measuring period for COBRA continuation coverage under
the Corporation’s medical and dental plans shall be measured from the date of the Executive’s loss
of coverage. Amounts which are vested benefits or which Executive is otherwise entitled to receive
under any plan or program of the Corporation or any of its affiliated companies at or subsequent to
the date on which Executive’s employment is terminated shall be payable in accordance with such
plan or program. For avoidance of doubt, the Executive shall be entitled to reimbursement after
termination of employment for any expenses described in Section 3.8 that were incurred prior to
termination of employment. Anything herein to the contrary notwithstanding, if Executive becomes
entitled to payments pursuant to Section 5 hereof, the Executive agrees to waive payments under any
severance plan or program of the Corporation, except payments under the 1989 Retention Agreement to
the extent they are permitted to be made under Section 10.9 of this Agreement.

8. Noncompetition; Nondisclosure; Nonsolicitation.

     8.1. Executive hereby covenants and agrees that, during the period of Executive’s employment
with the Corporation and for two years thereafter (the “Covenant Period”), he shall

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not, without the prior written consent of the Corporation, engage in Competition (as defined below) with the
Corporation. For purposes of this Agreement, if Executive takes any of the following actions he
shall be engaged in “Competition”: engaging in or carrying on, directly or indirectly, any
enterprise, whether as an advisor, principal, agent, partner, officer, director, employee,
stockholder, associate or consultant to any person, partnership, corporation or any other business
entity, that is principally engaged in any business operating within the United States of America,
which is involved in business activities which are the same as, similar to or in competition with
the principal business activities carried on by the Corporation, or being definitely planned by the
Corporation, at the time of the termination of the Executive’s employment; provided,
however, that “Competition” shall not include (i) the passive ownership of securities in
any public enterprise and exercise of rights related thereto, so long as such securities represent
no more than five percent of the voting power of all securities of such enterprise, (ii) the
indirect ownership of securities through ownership of shares in a registered investment company or
(iii) providing services to, and/or owning an equity interest in, a private equity or venture
capital firm that holds an interest in any enterprise that is in Competition (a “Portfolio
Competitive Enterprise”), provided, in the case of this clause (iii), that Executive does
not provide any services specifically with respect to any such Portfolio Competitive Enterprise or
to any such private equity or venture capital firm specifically with respect to a Portfolio
Competitive Enterprise.

     8.2. Executive shall not, without the Corporation’s prior written consent, disclose or use any
non-public confidential information of or relating to the Corporation, whether disclosed to or
learned by Executive during the course of his employment or otherwise, so long as such information
is not publicly known or available, except for such disclosures as are required by law or in
connection with Executive’s performance of services to the Corporation hereunder. Executive
further agrees that he shall not make any statements at any time that disparage the reputation of
the Corporation or any of its affiliates. For purposes of this Section 8, the term “affiliate” of
the Corporation means the Board, any and all Committees of the Board (the “Committees”) and any and
all individual members of either the Board or any of the Committees, in their capacity as such, and
any employee or officer of the Corporation.

     8.3. Executive hereby covenants and agrees that, during the Covenant Period, he shall not:
(A) attempt to influence, persuade or induce, or assist any other person in so influencing,
persuading or inducing, (i) any customer of the Corporation to give up, or to not commence, a
business relationship with the Corporation and (ii) any employee of the Corporation to cease such
employment, or (B) hire, or assist any other person in hiring, any person who voluntarily ceased
being an employee of the Company within six months prior to such hiring.

     8.4. Executive agrees that all processes, technologies, designs and inventions (“Inventions”),
including new contributions, improvements, ideas and discoveries, whether patentable or not,
conceived, developed, invented or made by him during the Employment Period shall belong to the
Corporation, provided that such Inventions grew out of Executive’s work for the Corporation, are
related in any manner to the business (commercial or experimental) of the Corporation or are
conceived or made on the Corporation’s time or with the use of the Corporation’s facilities or
materials. Executive shall further: (a) promptly disclose such Inventions to the Corporation; (b)
assign to the Corporation, without additional compensation, all patent and other
rights to such Inventions for the United States and foreign countries; (c) sign all papers
necessary to carry out the foregoing; and (d) give testimony in support of the status of Executive
as the inventor of

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such Inventions. Executive agrees that he will not assert any rights to any
Invention as having been made or acquired by him prior to the Effective Date, except for
Inventions, if any, disclosed to the Corporation in writing prior to the Effective Date.

     8.5. Executive acknowledges and agrees that the remedy at law available to the Corporation for
breach of any of his obligations under Section 8 of this Agreement would be inadequate, and that
damages flowing from such a breach may not readily be susceptible to being measured in monetary
terms. Accordingly, Executive acknowledges, consents and agrees that, in addition to any other
rights or remedies which the Corporation may have at law, in equity or under this Agreement, upon
adequate proof of his violation of any provision of Section 8 of this Agreement, the Corporation
shall be entitled to immediate injunctive relief and may obtain a temporary order restraining any
threatened or further breach, without the necessity of proof of actual damage.

     8.6. Executive acknowledges and agrees that the covenants set forth in Section 8 of this
Agreement are reasonable and valid in geographical and temporal scope and in all other respects.
If any of such covenants or such other provisions of this Agreement are found to be invalid or
unenforceable by a final determination of a court of competent jurisdiction (i) the remaining terms
and provisions hereof shall be unimpaired and (ii) the invalid or unenforceable term or provision
shall be deemed replaced by a term or provision that is valid and enforceable and that comes
closest to expressing the intention of the invalid or unenforceable term or provision.

     8.7. Executive understands that the provisions of Section 8 of this Agreement may limit his
ability to earn a livelihood in a business similar to the business of the Corporation but he
nevertheless agrees and hereby acknowledges that (i) such provisions do not impose a greater
restraint than is necessary to protect the goodwill or other business interests of the Corporation,
(ii) such provisions contain reasonable limitations as to time and scope of activity to be
restrained, (iii) such provisions are not harmful to the general public, (iv) such provisions are
not unduly burdensome to Executive, and (v) the consideration provided hereunder is sufficient to
compensate Executive for the restrictions contained in Section 8 of this Agreement. In
consideration of the foregoing and in light of Executive’s education, skills and abilities,
Executive agrees that he shall not assert that, and it should not be considered that, any
provisions of Section 7 otherwise are void, voidable or unenforceable or should be voided or held
unenforceable or should be voided or held unenforceable.

     8.8. If Executive violates any of the restrictions contained in Section 8 of this Agreement,
the restrictive period shall not run in favor of the Executive from the time of the commencement of
any such violation until such time as such violation shall be cured by the Executive to the
satisfaction of the Corporation.

9. Successors.

     9.1. This Agreement is personal to Executive and without the prior written consent of the
Corporation shall not be assignable by Executive otherwise than by will or the laws of descent and
distribution. This Agreement shall inure to the benefit of and be enforceable by Executive’s
legal representatives.

10

 

     9.2. This Agreement shall inure to the benefit of and be binding upon the Corporation and its
successors.

     9.3. The Corporation will require any successor (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business and/or assets of
the Corporation to expressly assume and agree to perform this Agreement in the same manner and to
the same extent that the Corporation would be required to perform it if no such succession had
taken place. As used in this Agreement, “Corporation” shall mean the Corporation as hereinbefore
defined and any successor to its business and/or assets as aforesaid which assumes and agrees to
perform this Agreement by operation of law, or otherwise.

10. Miscellaneous.

     10.1. This Agreement shall be governed by and construed in accordance with the laws of the
Commonwealth of Massachusetts without reference to principles of conflict of laws. The parties
hereto agree that exclusive jurisdiction of any dispute regarding this Agreement shall be the state
or federal courts located in Boston, Massachusetts.

     10.2. In the event of any termination of Executive’s employment hereunder, Executive shall be
under no obligation to seek other employment or otherwise mitigate the obligations of the
Corporation under this Agreement, and there shall be no offset against amounts due Executive under
this Agreement on account of amounts purportedly owing by Executive to the Corporation. Any
amounts due to Executive under this Agreement upon termination of employment are considered to be
reasonable by the Corporation and are not in the nature of a penalty.

     10.3. The captions of this Agreement are not part of the provisions hereof and shall have no
force or effect.

     10.4. This Agreement may not be amended or modified otherwise than by a written agreement
executed by the parties hereto or their respective successors and legal representatives.

     10.5. All notices and other communications hereunder shall be in writing and shall be given by
hand delivery to the other party or by registered or certified mail, return receipt requested,
postage prepaid, or by facsimile or nationally recognized overnight courier service, addressed as
follows:

               If to Executive:

Jerald G. Fishman

c/o Analog Devices, Inc.

One Technology Way

Norwood, MA 02062

               If to the Corporation:

Analog Devices, Inc.

One Technology Way

Norwood, MA 02062

Attn: General Counsel

11

 

or to such other address as either party shall have furnished to the other in writing in accordance
herewith. Notice and communications shall be effective when actually received by the addressee.

     10.6. The invalidity or unenforceability of any provision of this Agreement shall not affect
the validity or enforceability of any other provision of this Agreement.

     10.7. Taxes.

          (i) Withholding Taxes. Subject to the last sentence of Section 3.9, the Corporation
may withhold from any amounts payable under this Agreement such Federal, state or local taxes as
shall be required to be withheld pursuant to any applicable law or regulation.

          (ii) Section 409A.

               (a) Subject to this Section 10.7, payments or benefits under Section 5 shall begin only upon
the date of the Executive’s “separation from service” (determined as set forth below) which occurs
on or after the termination of the Executive’s employment. It is intended that each installment of
the payments and benefits provided or referenced under Sections 3.9 and 5 of this Agreement shall
be treated as a separate “payment” for purposes of Section 409A. Neither the Corporation nor the
Executive shall have the right to accelerate or defer the delivery of any such payments or benefits
except to the extent specifically permitted or required by Section 409A.

               (b) If, as of the date of the Executive’s “separation from service” from the Corporation, the
Executive is not a “specified employee” (within the meaning of Section 409A), then each installment
of the payments and benefits shall be made on the dates and terms set forth in this Agreement (or
other applicable agreement).

               (c) If, as of the date of the Executive’s “separation from service” from the Company, the
Executive is a “specified employee” (within the meaning of Section 409A), then:

                    (1) Each installment of the payments and benefits due under this Agreement (and other
applicable agreements) that, in accordance with the dates and terms set forth therein, will in all
circumstances, regardless of when the separation from service occurs, be paid within the period of
time permitted under Treasury Regulation Section 1.409A-1(b)(4) shall be treated as a short-term
deferral within the meaning of such Section to the maximum extent possible;

                    (2) Each installment of the payments and benefits due under this Agreement (and other
applicable agreements) that is not described in this Section 10.7(ii)(c)(1) above and that would,
absent this subsection, be paid within the six-month period following the Executive’s “separation
from service” from the Corporation shall not be paid until the date that is six months and one day
after such separation from service (or, if earlier, upon the
Executive’s death), with any such installments that are required to be delayed being
accumulated during the six-month period and paid in a lump sum on the date that is six months and
one day following the Executive’s separation from service, along with interest on such amount from
the date of separation from service to the date of payment at the AFR for the month

12

 

in which the separation from service occurs and any subsequent installments, if any, being paid in accordance
with the dates and terms set forth in this Agreement (or other applicable agreement); provided,
however, that the preceding provisions of this sentence shall not apply to any installment of
payments and benefits if and to the maximum extent that such installment is deemed to be paid under
a separation pay plan that does not provide for a deferral of compensation by reason of the
application of Treasury Regulation Section 1.409A-1(b)(9)(iii) (relating to separation pay upon an
involuntary separation from service). Any installments that qualify for the exception under
Treasury Regulation Section 1.409A-1(b)(9)(iii) must be paid no later than the last day of your
second taxable year following his taxable year in which the separation from service occurs; and

                    (3) The determination of whether and when the Executive’s separation from service from the
Company has occurred shall be made in a manner consistent with Treasury Regulation Section
1.409A-1(h).

     10.8. This Agreement contains the entire understanding of the Corporation and Executive with
respect to the subject matter hereof and supercedes all prior agreements or commitments relating
thereto, including without limitation the Original Employment Agreement, but excluding the Employee
Retention Agreement dated January 16, 1989, as amended (the “1989 Retention Agreement”) and 2007
Retention Agreement, as amended, each of which shall remain in full force and effect. All
references in the 2007 Retention Agreement to the Employment Agreement shall be deemed to be
references to the Original Employment Agreement, as restated hereby.

     10.9. The 1989 Retention Agreement shall remain in full force and effect, subject to the
following: (a) in the event of any termination of employment of the Executive following a Change
in Control (as defined in the 1989 Retention Agreement) that gives rise to any payments or benefits
under Section 5(c)(i), (ii) and (iv) of the 1989 Retention Agreement that are greater than the
corresponding payments and benefits provided under Section 5.4 of this Agreement (other than
Section 5.4(iv)), the payments and benefits provided under Section 5(c)(i), (ii) and/or (iv), as
applicable, of the 1989 Retention Agreement shall supercede and be in lieu of the corresponding
payments and benefits provided under Section 5.4 hereof (other than Section 5.4(iv)); (b) in the
event of any termination of employment of the Executive following a Change of Control that gives
rise to any payments or benefits under Section 5(c)(i), (ii) and/or (iv), as applicable, of the
1989 Retention Agreement that are less than the corresponding payments and benefits provided under
Section 5.4 of this Agreement (other than Section 5.4(iv)), the payments and benefits provided
under Section 5.4 of this Agreement shall supersede and be in lieu of the corresponding payments
and benefits provided under Section 5(c)(i), (ii) and/or (iv), as applicable, of the 1989 Retention
Agreement; and (c) Section 5(d) of the 1989 Retention Agreement relating to Code Section 4999 shall
be not be applicable and deemed deleted in its entirety. It is understood that any Additional
Bonus shall not be considered a bonus for purposes of determining or calculating any amounts
payable to Executive under the 1989 Retention Agreement. For clarity, under no circumstances shall
Executive receive payments and benefits under both Sections 5(c)(i), (ii) and (iv) of the 1989
Retention Agreement and Section 5.4 (other than Section 5.4(iv)) of this Agreement.

     10.10. All payment obligations of the Corporation that arise prior to the termination of this
Agreement shall survive the termination of this Agreement.

13

 

     IN WITNESS WHEREOF, Executive has hereunto set his hand and the Corporation has caused this
Agreement to be executed in its name on its behalf, all as of the day and year first above written.

	 	 	 	 	 	 	 
	 
	 	 	 	 	 
	 	 	Jerald G. Fishman	 	 
	 
	 	 	 	 	 	 
	 	 	ANALOG DEVICES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	Name: James A. Champy	 	 
	 	 	Title: Chairman of Compensation Committee	 	 

[Signature Page to Amended and Restated Employment Agreement]

 

 

Exhibit A

Execution Version

RESTRICTED STOCK UNIT

CONFIRMING MEMORANDUM GRANT

OF RESTRICTED STOCK UNITS

U.S. EMPLOYEES

Private &

Confidential

(Addressee Only)

2006 Stock Incentive Plan

Location: Norwood, MA

We are pleased to advise Jerald G. Fishman (the “Participant”) that Analog Devices, Inc., a
Massachusetts corporation (the “Company”), has granted to the Participant Restricted Stock Units
(“RSUs”) on the terms and conditions set forth below (the “Award”). This Award is made pursuant to
the Amended and Restated Employment Agreement dated as of
January 14, 2010 between the Company and
the Participant (as it may be amended from time to time, the “Employment Agreement”).

     1. Restricted Stock Unit. This memorandum confirms that, subject to the terms and
conditions of the Analog Devices, Inc. 2006 Stock Incentive Plan (the “Plan”), the Company has
granted to the Participant, effective on the Date of Grant set forth below, that number of RSUs set
forth below:

	 	 	 	 	 	 	 
	 

	 	Date of Grant:
	 	January 15, 2010

	 

	 	Number of RSUs:
	 	160,000	 	 
	 

	 	Vesting Schedule:	 	 	 	 

	 	 	 
	Vesting Date
	 	Number of Vested RSUs
	 
	 	 
	January 15, 2013
	 	160,000

Subject to the terms set forth below, each one (1) RSU shall, if and when it vests in accordance
with this Award, automatically convert into one (1) share of common stock, US$0.16 2/3 par value,
of the Company (“Common Stock”) issuable as provided below. The RSUs are subject to the vesting
provisions set forth in Section 2, the restrictions on transfer set forth in Section 3 and the
right of the Company to retain Shares (as defined below) pursuant to Section 7.

     2. Vesting and Conversion.

          (a) Subject to the terms of the Plan and this Award, the RSUs shall vest in accordance with
the schedule set forth in Section 1. For purposes of this Award, RSUs that have not vested as of
any particular time in accordance with this Section 2(a) are referred to as “Unvested RSUs.” The
shares of Common Stock that are issuable upon the vesting and conversion of the RSUs are referred
to in this Award as “Shares.” As soon as administratively practicable after the issuance of any
Shares upon the vesting and conversion of RSUs, and subject to the terms and conditions set forth
herein, the Company shall deliver or cause to be delivered evidence (which may include a book entry
by the Company’s transfer agent) of the Shares so issued in the name of the Participant to the
brokerage firm designated by the Company to maintain the brokerage account established for the
Participant. In no event shall the delivery of the Shares occur later than ten (10) business days
after the vesting and conversion of RSUs. Notwithstanding the foregoing, the Company shall not be
obligated to issue Shares to or in the name of the Participant upon the vesting and conversion of
any RSUs unless the issuance of such Shares shall comply with all relevant provisions of law and
other legal requirements including, without limitation, any applicable securities laws and the
requirements of any stock exchange upon which shares of Common Stock may then be listed.

          (b) Upon any termination of the Participant’s employment with the Company by reason of (i) the
termination by the Company without Cause pursuant to Section 4.2 of the Employment Agreement or

Page 1 of 6

 

(ii) termination by the Participant for Good Reason pursuant to Section 4.3 of the Employment Agreement,
all Unvested RSUs shall vest in full as of the date of such termination.

          (c) If Participant’s employment with the Company terminates pursuant to Section 4.4 of the
Employment Agreement upon expiration of the Employment Period (as defined in the Employment
Agreement), all Unvested RSUs shall continue to vest, and shall not terminate, as long as Executive
remains a member of the board of directors of the Company, or makes himself available to perform
consulting services pursuant to Section 6.2 of the Employment Agreement and shall become vested in
full and convert into Shares on January 15, 2013. If, following the expiration of the Employment
Agreement and prior to January 15, 2013, Participant’s services as both a consultant and director
is terminated by the Company without Cause (as defined in the Employment Agreement), or terminates
by reason of death or Disability (as defined in the Employment Agreement), all Unvested RSUs shall
vest in full as of the date of such termination.

          (d) In the event the Participant’s employment with the Company is terminated by reason of the
Participant’s death, all Unvested RSUs shall vest in full as of the date of the Participant’s
death.

          (e) In the event the Participant’s employment with the Company terminates by reason of
Disability (as defined in the Employment Agreement), the Unvested RSUs as of the date of the
Participant’s termination shall vest in full as of the date of the Participant’s termination of
employment for Disability.

          (f) In the event the Participant’s employment with the Company is terminated by the
Participant (other than as set forth in Sections 2(b), (c), (d) and (e) above or as otherwise
provided in the Plan) or by the Company for Cause pursuant to Section 4.2 of the Employment
Agreement, then in each such case, all of the Unvested RSUs as of the date of termination shall
terminate and be cancelled immediately and automatically and the Participant shall have no further
rights with respect to such Unvested RSUs.

          (g) Immediately prior to the effective date of a “Change in Control Event” (as defined in the
Plan), all Unvested RSUs shall vest in full.

          (h) For purposes of this Award, employment with the Company shall include employment with any
direct or indirect parent or subsidiary of the Company, or any successor to the Company or any such
parent or subsidiary of the Company.

     3. Restrictions on Transfer.

          (a) The Participant shall not sell, assign, transfer, pledge or otherwise encumber any RSUs,
either voluntarily or by operation of law, except by will or the laws of descent and distribution.

          (b) The Company shall not be required (i) to transfer on its books any of the RSUs which have
been transferred in violation of any of the provisions set forth herein or (ii) to treat as the
owner of such RSUs any transferee to whom such RSUs have been transferred in violation of any of
the provisions contained herein.

     4. Not a Shareholder. The RSUs represent an unfunded, unsecured promise by the
Company to deliver Shares upon vesting and conversion of the RSUs, and until vesting of the RSUs
and issuance of the Shares, the Participant shall not have any of the rights of a shareholder with
respect to the Shares underlying the RSUs. For the avoidance of doubt, the Participant shall have
no right to receive any dividends and shall have no voting rights with respect to the Shares
underlying the RSUs for which the record date is on or before the date on which the Shares
underlying the RSUs are issued to the Participant.

     5. Provisions of the Plan. The RSUs and Shares, including the grant and issuance
thereof, are subject to the provisions of the Plan. A copy of the Plan prospectus is available on
the Company’s Intranet at www.analog.com/employee (from Signals home page, click Knowledge Centers,
HR, Employee Stock Programs. The related documents can be found in the right-hand column).

     6. Consideration. Any Shares that are issued and any cash payment that is delivered,
in either case upon settlement of the RSUs pursuant to this Award, will be in consideration of the
Participant’s entering into

Page 2 of 6

 

employment with the Company and/or his continued employment with the Company, which
consideration is deemed sufficient.

     7. Withholding Taxes.

     (a) Regardless of any action the Company and the subsidiary that employs the Participant takes
with respect to any or all income tax (including U.S. federal, state and local taxes and/or
non-U.S. taxes), social insurance, payroll tax, payment on account or other tax-related withholding
(“Tax-Related Items”), the Participant acknowledges that the ultimate liability for all Tax-Related
Items legally due by the Participant is and remains the Participant’s responsibility, and that the
Company and the subsidiary that employs the Participant (i) make no representations or undertakings
regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs,
including the grant of the RSUs, the vesting of the RSUs, the subsequent sale of any Shares
acquired pursuant to the RSUs and the receipt of any dividends; and (ii) do not commit to structure
the terms of the grant or any aspect of the RSUs to reduce or eliminate the Participant’s liability
for 

Tax-Related Items. Notwithstanding the foregoing, the provisions of Section 3(b) of the
Participant’s Long-Term Retention Agreement with the Company, dated October 22, 2007 shall remain
in full force and effect.

     (b) Prior to the delivery of Shares upon the vesting of the RSUs, if any taxing jurisdiction
requires withholding of Tax-Related Items, the Company may withhold a sufficient number of whole
Shares otherwise issuable upon the vesting of the RSUs that have an aggregate Fair Market Value (as
defined under the Plan) sufficient to pay the minimum Tax-Related Items required to be withheld
with respect to the Shares. The cash equivalent of the Shares withheld will be used to settle the
obligation to withhold the Tax-Related Items (determined by reference to the closing price of the
Common Stock on the New York Stock Exchange on the applicable vesting date). No fractional Shares
will be withheld or issued pursuant to the grant of the RSUs and the issuance of Shares hereunder.
Alternatively, the Company and the subsidiary that employs the Participant may, in its discretion,
withhold any amount necessary to pay the Tax-Related Items from the Participant’s salary or other
amounts payable to the Participant, with no withholding in Shares. In the event the withholding
requirements are not satisfied through the withholding of Shares or through the Participant’s
salary or other amounts payable to the Participant, no Shares will be issued upon vesting of the
RSUs unless and until satisfactory arrangements (as determined by the Compensation Committee of the
Board of Directors) have been made by the Participant with respect to the payment of any
Tax-Related Items which the Company and the subsidiary that employs the Participant determines, in
its sole discretion, must be withheld or collected with respect to such RSUs. By accepting this
grant of RSUs, the Participant expressly consents to the withholding of Shares and/or cash as
provided for hereunder. All other Tax-Related Items related to the RSUs and any Shares delivered
in payment thereof are the Participant’s sole responsibility.

     8. Section 409A of the Code. It is intended that this Award shall be exempt from the
requirements of Section 409A of the code as a 

“short-term deferral” under Treas. Reg. Sect.
1.409A-1(b)(4), and all provisions of this Confirming Memorandum shall be construed and interpreted
in a manner consistent with this intention.

     9. Option of Company to Deliver Cash. Notwithstanding any of the other provisions of
this Award and except where otherwise prohibited under local law or where cash settlement may
present adverse tax consequences to the Participant, at the time the RSUs vest, the Company may
elect, in the sole discretion of the Compensation Committee of the Board of Directors, to deliver
by wire transfer to the Participant in lieu of Shares an equivalent amount of cash (determined by
reference to the closing price of the Common Stock on the New York Stock Exchange on the applicable
vesting date). If the Company elects to deliver cash to the Participant, the Company is authorized
to retain such amount as is sufficient in the opinion of the Company to satisfy the tax withholding
obligations of the Company pursuant to Section 7 herein.

     10. Data Privacy. The Company hereby notifies the Participant of the following in
relation to the Participant’s personal data and the collection, processing and transfer of such
data in relation to the grant of the RSUs and the Participant’s participation in the Plan, pursuant
to applicable personal data protection laws. The collection, processing and transfer of the
Participant’s personal data is necessary for the Company’s administration of the Plan and the
Participant’s participation in the Plan, and the Participant’s denial and/or objection to the
collection, processing and transfer of personal data may affect the Participant’s ability to
participate in the Plan. As

Page 3 of 6

 

such, the Participant voluntarily acknowledges, consents and agrees (where required under
applicable law) to the collection, use, processing and transfer of personal data as described
herein.

     The Company holds certain personal information about the Participant, including the
Participant’s name, home address and telephone number, date of birth, social security number or
other employee identification number, salary, nationality, job title, any Shares or directorships
held in the Company, details of all RSUs or any other entitlement to Shares awarded, canceled,
purchased, vested, unvested or outstanding in the Participant’s favor, for the purpose of managing
and administering the Plan (“Data”). The Data may be provided by the Participant or collected,
where lawful, from third parties, and the Company will process the Data for the exclusive purpose
of implementing, administering and managing the Participant’s participation in the Plan. The data
processing will take place through electronic and non-electronic means according to logistics and
procedures strictly correlated to the purposes for which the Data is collected and with
confidentiality and security provisions as set forth by applicable laws and regulations in the
Participant’s country of residence. Data processing operations will be performed minimizing the
use of personal and identification data when such operations are unnecessary for the processing
purposes sought. The Data will be accessible within the Company’s organization only by those
persons requiring access for purposes of the implementation, administration and operation of the
Plan and for the Participant’s participation in the Plan.

     The Company will transfer Data as necessary for the purpose of implementation, administration
and management of the Participant’s participation in the Plan, and the Company may further transfer
Data to any third parties assisting the Company in the implementation, administration and
management of the Plan. These recipients may be located in the United States, the European
Economic Area, or elsewhere throughout the world. The Participant hereby authorizes (where
required under applicable law) the recipients to receive, possess, use, retain and transfer the
Data, in electronic or other form, for purposes of implementing, administering and managing the
Participant’s participation in the Plan, including any requisite transfer of such Data as may be
required for the administration of the Plan and/or the subsequent holding of Shares on the
Participant’s behalf to a broker or other third party with whom the Participant may elect to
deposit any Shares acquired pursuant to the Plan.

     The Participant may, at any time, exercise the Participant’s rights provided under applicable
personal data protection laws, which may include the right to (a) obtain confirmation as to the
existence of the Data, (b) verify the content, origin and accuracy of the Data, (c) request the
integration, update, amendment, deletion, or blockage (for breach of applicable laws) of the Data,
and (d) to oppose, for legal reasons, the collection, processing or transfer of the Data which is
not necessary or required for the implementation, administration and/or operation of the Plan and
the Participant’s participation in the Plan. The Participant may seek to exercise these rights by
contacting the Participant’s local HR manager.

     11. Repatriation; Compliance with Laws. The Participant agrees, as a condition of the
grant of the RSUs, as applicable, to repatriate all payments attributable to the Shares and/or cash
acquired under the Plan (including, but not limited to, dividends and any proceeds derived from the
sale of the Shares acquired pursuant to the RSUs) in accordance with all foreign exchange rules and
regulations applicable to the Participant. In addition, the Participant also agrees to take any
and all actions, and consent to any and all actions taken by the Company and its subsidiaries, as
may be required to allow the Company and its subsidiaries to comply with all laws, rules and
regulations applicable to the Participant. Finally, the Participant agrees to take any and all
actions as may be required to comply with the Participant’s personal legal and tax obligations
under all laws, rules and regulations applicable to the Participant.

     12. Miscellaneous.

          (a) No Rights to Employment. The grant of the RSUs shall not confer upon the
Participant any right to continue in the employ of the Company nor limit in any way the right of
the Company to terminate the Participant’s employment at any time. The vesting of the RSUs
pursuant to Section 2 hereof is earned only by satisfaction of the performance conditions, if any,
and continuing service as an employee, director or consultant, as set forth in Section 2.

Page 4 of 6

 

           (b) Discretionary Nature. The Participant acknowledges and agrees that the Plan is
discretionary in nature and may be amended, cancelled, or terminated by the Company, in its sole
discretion, at any time. The grant of the RSUs under the Plan is a one-time benefit and does not
create any contractual or other right to receive a grant of RSUs or any other award under the Plan
or other benefits in lieu thereof in the future. Future grants, if any, will be at the sole
discretion of the Company, including, but not limited to, the form and timing of any grant, the
number of Shares subject to the grant, and the vesting provisions. Any amendment, modification or
termination of the Plan shall not constitute a change or impairment of the terms and conditions of
the Participant’s employment with the Company.

          (c) Exclusion from Termination Indemnities and Other Benefits. The Participant’s
participation in the Plan is voluntary. The value of the RSUs and any other awards granted under
the Plan is an extraordinary item of compensation outside the scope of the Participant’s employment
with the Company (and the Participant’s employment contract, if any). Any grant under the Plan,
including the grant of the RSUs, is not part of normal or expected compensation for purposes of
calculating any severance, resignation, redundancy, end of service payments, bonuses, 

long-service
awards, pension, or retirement benefits or similar payments.

          (d) Severability. The invalidity or unenforceability of any provision of this Award
shall not affect the validity or enforceability of any other provision of this Award, and each
other provision of this Award shall be severable and enforceable to the extent permitted by law.

          (e) Waiver. Any provision for the benefit of the Company contained in this Award may
be waived, either generally or in any particular instance, by the Compensation Committee of the
Board of Directors of the Company.

          (f) Binding Effect. This Award shall be binding upon and inure to the benefit of the
Company and the Participant and their respective heirs, executors, administrators, legal
representatives, successors and assigns, subject to the restrictions on transfer set forth in
Section 3 of this Award.

          (g) Notice. Each notice relating to this Award shall be in writing (which shall
include electronic form) and delivered in person, electronically or by first class mail, postage
prepaid, to the address as hereinafter provided. Each notice shall be deemed to have been given on
the date it is received. Each notice to the Company shall be addressed to it at its offices at
Analog Devices, Inc., One Technology Way, Norwood, Massachusetts, 02062, Attention: Chief Financial
Officer. Each notice to the Participant shall be addressed to the Participant at the Participant’s
last known mailing or email address, as applicable, on the records of the Company.

          (h) Pronouns. Whenever the context may require, any pronouns used in this Award shall
include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and
pronouns shall include the plural, and vice versa.

          (i) Entire Agreement. This Award and the Plan constitute the entire understanding
between the parties, and supersede all prior agreements and understandings, relating to the subject
matter of these documents.

          (j) Governing Law. This Award shall be construed, interpreted and enforced in
accordance with the internal laws of the Commonwealth of Massachusetts without regard to any
applicable conflicts of laws.

          (k) Interpretation. The interpretation and construction of any terms or conditions of
this Award or the Plan, or other matters related to the Plan, by the Compensation Committee of the
Board of Directors of the Company shall be final and conclusive.

          (l) Participant’s Acceptance. The Participant is urged to read this Award carefully
and to consult with his or her own legal counsel regarding the terms and consequences of this Award
and the legal and binding effect of this Award. By virtue of his or her acceptance of this Award,
the Participant is deemed to have accepted and agreed to all of the terms and conditions of this
Award and the provisions of the Plan.

Page 5 of 6

 

          (m) Electronic Delivery. The Company may, in its sole discretion, decide to deliver
any documents related to the RSUs or other awards granted to the Participant under the Plan by
electronic means. The Participant hereby consents to receive such documents by electronic delivery
and agrees to participate in the Plan through an on-line or electronic system established and
maintained by the Company or a third party designated by the Company.

          (n) English Language. The Participant acknowledges and agrees that it is the
Participant’s express intent that this Confirming Memorandum, the Plan and all other documents,
notices and legal proceedings entered into, given or instituted pursuant to the RSUs, be drawn up
in English. If the Participant has received this Confirming Memorandum, the Plan or any other
documents related to the RSUs translated into a language other than English, and if the meaning of
the translated version is different than the English version, the English version shall control.

          (o) Addendum. Notwithstanding any provisions herein to the contrary, if the
Participant transfers the Participant’s residence and/or employment to a country other than the
United States, the RSUs shall be subject to any special terms and conditions for such country as
may be set forth in an addendum to this Confirming Memorandum (the “Addendum”), which terms and
conditions will apply to the Participant to the extent the Company determines, in its sole
discretion, that the application of such terms and conditions is necessary or advisable in order to
comply with local law or to facilitate the administration of the Plan. Any Addendum shall
constitute part of this Confirming Memorandum.

          (p) Additional Requirements. The Company reserves the right to impose other
requirements on the RSUs, any Shares acquired pursuant to the RSUs, and the Participant’s
participation in the Plan, to the extent the Company determines, in its sole discretion, that such
other requirements are necessary or advisable in order to comply with local law or to facilitate
the administration of the Plan. Such requirements may include (but are not limited to) requiring
the Participant to sign any agreements or undertakings that may be necessary to accomplish the
foregoing.

          (q) Private Placement. The Company has submitted filings in the United States in
connection with the stock incentive plan under which this Award was made. The Company has not
submitted any registration statement, prospectus or other filings with other local securities
authorities (unless otherwise required under such local law), and the grant of the Award is not
intended to be a public offering of securities in any other jurisdiction or subject to the
supervision of other local securities authorities.

          (r) Changes in Capitalization. In the event of any stock split, reverse stock split,
stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or
other similar change in capitalization or event, or any non-cash distribution to holders of Common
Stock, the number of RSUs, and Shares issuable upon vesting and conversion thereof, shall be
appropriately adjusted in such manner as shall be determined by the Compensation Committee of the
Board of Directors of the Company.

          (s) Amendment. This Award may be amended or modified only by a written
instrument executed by both the Company and the Participant.

*     *     *     *     *

	 	 	 	 	 	 	 	 	 
	 

	 	Ray Stata
	 	 
	 	Jerald G. Fishman
	 	 
	 

	 	Chairman of the Board
	 	 	 	President & Chief Executive Officer	 	 

Page 6 of 6

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