Document:

exv10w48

 

Exhibit 10.48

ASYST TECHNOLOGIES, INC.

INDEMNITY AGREEMENT

     This Indemnity Agreement (“Agreement”) is made and entered effective as of the                     ,
2007, by and between Asyst Technologies, Inc., a California corporation (the “Corporation”), and
[___] (“Indemnitee”).

RECITALS

     Whereas, the shareholders of the Corporation have adopted provisions in the Articles
of Incorporation (the “Articles”) and the Bylaws (the “Bylaws”) of the Corporation providing for
the indemnification of the directors, executive officers, officers, employees and other agents of
the Corporation, including persons serving at the request of the Corporation in such capacities
with other corporations or enterprises, as authorized by the California Corporations Code, as
amended;

     Whereas, the Articles, the Bylaws and the California Corporations Code, by their
non-exclusive nature, permit contracts between the Corporation and its directors, executive
officers, officers, employees and other agents with respect to indemnification of such persons; and

     Whereas, Indemnitee currently performs a valuable service to the                      of
the Corporation, and the Corporation wishes to provide the protections and benefits hereinafter
identified in conjunction with Indemnitee’s continued service to the Corporation;

     Now, Therefore, the parties hereto agree as follows:

AGREEMENT

     1. Services to the Corporation. Indemnitee will continue to serve, at the will of
the Corporation or under separate contract, if any such contract exists, as a director, executive
officer, officer, executive or other fiduciary of the Corporation or an affiliate thereof
(including any employee benefit plan of the Corporation) faithfully and to the best of Indemnitee’s
ability so long as Indemnitee is duly appointed or elected and qualified in accordance with the
provisions of the Bylaws or other applicable charter documents of the Corporation or such
affiliate; provided, however, that Indemnitee may at any time and for any reason resign from such
position (subject to any contractual obligation that Indemnitee may have assumed apart from this
Agreement) and that the Corporation or any affiliate shall have no obligation under this Agreement
to continue Indemnitee’s employment or service in any such position (or at all).

     2. Indemnity. Subject to a determination pursuant to Section 8 hereof, and except
and to the extent as specifically excluded in Section 3 hereof, the Corporation hereby agrees to
defend, hold harmless and indemnify Indemnitee:

          a. against any and all expenses (including attorneys’ fees), witness fees, damages, judgments,
fines and amounts paid in settlement, and any other amounts that Indemnitee becomes legally
obligated to pay because of any claim or claims made against Indemnitee in connection with any
threatened, pending or completed action, suit or proceeding, whether civil, criminal,
arbitrational, administrative, regulatory or investigative (including an action, suit or proceeding
by or in the right of the Corporation) to which Indemnitee is, was or at any time becomes a party,
or is threatened to be made a party, by reason of the fact that Indemnitee is, was or at any time
becomes a director, executive officer, officer, employee or other agent of the Corporation, or is
or was serving or at any time serves at the request of the Corporation as a director, executive
officer, officer, employee or other agent of another corporation, partnership, joint venture,
trust, employee benefit plan or other enterprise; and

 

 

          b. otherwise to the fullest extent not prohibited by the Articles, the Bylaws, the Code or any
other law, statute or administrative or regulatory rule then applicable to the Corporation.

     3. Limitations on Indemnity. The Corporation will not defend, hold harmless
or indemnify Indemnitee, and has no obligation, duty or liability whatsoever to Indemnitee,
hereunder or otherwise, with respect to and to the extent of any claim or claims made in connection
with the matters set forth in subsections (a) through (l) (whether the Corporation has provided
Indemnitee notice of such matters or whether the Corporation has suspended or terminated
Indemnitee’s employment on the basis of any such matters).

          a. on account of any claim against Indemnitee for an accounting of profits made from the
purchase or sale by Indemnitee of securities of the Corporation, pursuant to the provisions of
Section 16(b) of the Securities Exchange Act of 1934 and amendments thereto or similar provisions
of any federal, state or local statutory law;

          b. on account of Indemnitee’s conduct from which Indemnitee derived an improper personal
benefit or gain;

          c. on account of Indemnitee’s conduct contrary to the best interests of the Corporation or its
shareholders or that involved the absence of good faith on the part of Indemnitee;

          d. on account of Indemnitee’s conduct that constituted intentional misconduct or a knowing and
culpable violation of law;

          e. on account of Indemnitee’s conduct that showed a reckless disregard for the Indemnitee’s
duty to the Corporation or its shareholders in circumstances in which Indemnitee was aware, or
should reasonably have been aware, in the ordinary course of performing Indemnitee’s duties, of a
risk of serious or intended harm to the Corporation or its shareholders;

          f. on account of Indemnitee’s conduct that constituted a pattern of inattention that amounted
to an abdication of the Indemnitee’s duty to the Corporation or its shareholders;

          g. on account of Indemnitee’s conduct which constituted a violation of the Indemnitee’s duties
under Sections 310 or 316 of the California Corporations Code;

          h. for which payment is actually made to Indemnitee under a valid and collectible insurance
policy or under a valid and enforceable indemnity clause, bylaw or agreement, except in respect of
any excess beyond payment under such insurance, clause, bylaw or agreement;

          i. if indemnification is not lawful under law, statute or administrative rule or governmental
regulation or order applicable to the Corporation, including the California Corporations Code, as
amended (collectively, the “Code”) (and, in this respect, both the Corporation and Indemnitee have
been here advised that the Securities and Exchange Commission believes that indemnification for
liabilities arising under the federal securities laws is against public policy and is, therefore,
unenforceable and that claims for indemnification should be submitted to appropriate courts for
adjudication);

          j. in connection with any proceeding (or part thereof) initiated by Indemnitee against, or any
proceeding between Indemnitee and, the Corporation or its directors, executive officers, officers,
employees or other agents, unless (i) such indemnification is expressly required to be made by law,
(ii) such indemnification was authorized by the Board of Directors of the Corporation, or (iii)
such indemnification is provided by the Corporation, in its sole discretion, pursuant to the powers
vested in the Corporation under the Code;

          k. with respect to any claim by or in the right of the Corporation:

2

 

     i. if the Indemnitee is adjudged to be liable to the Corporation in performance of the
Indemnitee’s duty to the Corporation and its shareholders, unless and only to the extent
that the court in which such claim is or was pending shall determine upon application that,
in view of all of the circumstances of the case, the Indemnitee is fairly and reasonably
entitled to indemnity for expenses, and then only to the extent and in the event that the
court shall determine;

     ii. for expenses incurred in defending a pending claim which is settled or otherwise
disposed of without court approval; or

     iii. for amounts paid in settling or otherwise disposing of a pending claim without
court approval; and

          l. to the extent, but only to the extent, that indemnification with respect to such claim (i)
would be inconsistent with the Articles or Bylaws, or a resolution of the shareholders or agreement
of the Corporation prohibiting or otherwise limiting such indemnification and in effect at the time
of the accrual of the action or (ii) would be inconsistent with any condition expressly imposed by
a court or administrative or regulatory authority or agency having competent jurisdiction over the
Corporation or a relevant aspect of the Corporation’s operations in approving a settlement, unless
Indemnitee has been successful on the merits or unless the indemnification has been approved by the
shareholders of the Corporation in accordance with Section 153 of the California Corporations Code
(with the shares of the Indemnitee not being entitled to vote thereon).

     4. Continuation of Indemnity. All agreements and obligations of the Corporation
contained herein shall continue during the period Indemnitee is a director, executive officer,
officer, employee, or other agent of the corporation (or is serving or had served at the request of
the Corporation as a director, executive officer, officer, employee, or other agent of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise) and
shall continue thereafter so long as Indemnitee shall be subject to any possible claim or
threatened, pending or completed action, suit or proceeding, whether civil, criminal,
arbitrational, administrative or investigative, by reason of the fact that Indemnitee had served in
the capacity referred to herein.

     5. Notification and Defense of Claim. Not later than thirty (30) days after receipt
by Indemnitee of notice of the commencement of any action, suit or proceeding asserting an
indemnified matter for which Indemnitee seeks the benefits or protections provided under this
Agreement, Indemnitee will, if a claim under this Agreement in respect thereof is to be made
against the Corporation, notify the Corporation of the commencement thereof. Failure to provide
the Corporation with reasonably prompt and timely notice will relieve it from any obligation or
liability whatsoever which the Corporation may have to Indemnitee under this Agreement. With
respect to any such action, suit or proceeding as to which Indemnitee notifies the Corporation of
the commencement thereof:

          a. the Corporation will be entitled to participate therein at its own expense;

          b. except as otherwise provided below, the Corporation may, at its option and jointly with any
other indemnifying party similarly notified and electing to assume such defense, assume the defense
thereof, with counsel chosen by the Corporation but reasonably satisfactory to Indemnitee. After
notice from the Corporation to Indemnitee of its election to assume the defense thereof, the
Corporation will not be liable to Indemnitee under this Agreement for any legal or other expenses
subsequently incurred by Indemnitee in connection with the defense thereof except for reasonable
costs of investigation or otherwise, as provided below. Indemnitee shall have the right to employ
separate counsel in such action, suit or proceeding, but the fees and expenses of such counsel
incurred after notice from the Corporation of its assumption of the defense thereof shall be at the
sole expense and liability of Indemnitee, without right or recourse against the Corporation, unless
and to the extent: (i) the employment of counsel by Indemnitee has been authorized in writing by
the Corporation or (ii) the Corporation shall not in fact have employed counsel to assume the
defense of such action, in each of which cases the fees and expenses reasonably and actually
incurred of Indemnitee’s separate counsel shall be at the expense of the Corporation; and

3

 

          c. the Corporation shall not be liable to indemnify Indemnitee under this Agreement for any
amounts paid in settlement of any action, suit or proceeding claim effected without its written
consent. The Corporation shall be permitted to settle any action, suit or proceeding with respect
to an indemnified matter, except that it shall not settle any action, suit or proceeding in any
manner which would impose any penalty or limitation on Indemnitee without Indemnitee’s written
consent, which may be given or withheld in Indemnitee’s sole discretion.

     6. Expenses. The Corporation shall advance, prior to the final disposition of any
proceeding, promptly following request therefor, all reasonable expenses actually incurred by
Indemnitee in connection with such proceeding upon receipt of an undertaking by or on behalf of
Indemnitee to repay said amounts if it shall be determined ultimately that Indemnitee is not
entitled to be indemnified under the provisions of this Agreement, the Bylaws, the Articles, the
Code or otherwise. Notwithstanding the foregoing, unless otherwise determined pursuant to Section
7, no advance shall be made by the Corporation if a determination is reasonably and promptly made
by the Board of Directors by a majority vote of a quorum comprising the then-serving directors who
are not parties to the proceeding (or, if no such quorum exists, by independent legal counsel
mutually acceptable to both the Corporation and Indemnitee in a written opinion) that the facts
known to the decision-making party at the time such determination is made that such person acted in
bad faith or in a manner that such person did not believe to be in the best interests of the
Corporation and its shareholders, or that the claim is not an indemnified matter hereunder.

     7. Determination by the Corporation. To the extent required by the Code, promptly
after receipt of a request for indemnification hereunder made by Indemnitee (and in any event
within 90 days from such request), the Corporation shall make a reasonable, good faith
determination as to whether indemnification of Indemnitee is proper under the Code by means of:

          a. a majority vote of a quorum comprising the then-serving directors who are not parties to
such proceeding;

          b. if such quorum is not obtainable, by independent legal counsel in a written opinion; or

          c. approval or ratification by the affirmative vote of a majority of the shares of the
Corporation represented and voting at a duly held meeting at which a quorum is present (which
shares voting affirmatively also constitute at least a majority of the required quorum) or by
written consent of a majority of the outstanding shares entitled to vote; where in each case the
shares owned by the person to be indemnified shall not be considered entitled to vote thereon.

Such determination shall be reasonably made in good faith by the decision-making party based upon
the facts known to the decision-making party at the time such determination is made and the
reasonable understanding of the decision-making party of the scope and limits of this Agreement and
the respective rights and obligations of the Corporation and Indemnitee hereunder.

     8. Enforcement by Arbitration Only. Any right to indemnification or advances granted
by this Agreement to Indemnitee, and any other dispute between Indemnitee and the Corporation
arising from or relating to any right or obligation hereunder, shall be resolved exclusively by
binding non-appealable arbitration. The terms and conditions of the Agreement to Arbitrate
Disputes and Claims shall govern such arbitration (in the event entered between the parties, and as
amended from time to time), be binding on the Corporation and Indemnitee and shall be deemed
incorporated herein by reference as a material part of this Agreement. Neither the Corporation nor
Indemnitee shall be liable to, or entitled to recover from, the other, for any claim, cause or
action, suit or proceeding relating to any right or obligation hereunder, any incidental, special,
consequential or exemplary damages of any kind, including punitive damages. The Corporation shall
be entitled to raise by pleading as an affirmative defense to any action for which a claim for
indemnification is made hereunder that Indemnitee is not entitled to indemnification. Neither the
failure of the Corporation (including its Board of Directors, its shareholders or independent legal
counsel) to have made a determination prior to the commencement of such enforcement action that
indemnification of Indemnitee is proper in the circumstances, nor an actual determination by the
Corporation (including its Board of Directors, its shareholders or independent legal counsel) that
such indemnification is improper shall be a defense to

4

 

the action, be admissible as evidence of an intention or expectation of indemnity hereunder,
or create a presumption that Indemnitee is or is not entitled to indemnification under this
Agreement or otherwise.

     9. Subrogation. In the event of payment under this Agreement, the Corporation shall
be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who
shall execute all documents required and shall do all acts that may be necessary to secure such
rights and to enable the Corporation effectively to bring suit to enforce such rights.

     10. Non-Exclusivity of Rights. The rights conferred on Indemnitee by this Agreement
shall not be exclusive of any other right which Indemnitee may have or hereafter acquired under any
statute, provision of the Code or of the Articles or Bylaws, agreement, vote of shareholders or
directors, or otherwise, both as to action in his official capacity and as to action in another
capacity while holding office.

11. Survival of Rights.

          a. The rights conferred on Indemnitee by this Agreement shall continue after Indemnitee has
ceased to be a director, executive officer, officer, employee or other agent of the Corporation or
to serve at the request of the Corporation as a director, executive officer, officer, employee or
other agent of another corporation, partnership, joint venture, trust, employee benefit plan or
other enterprise and shall inure to the benefit of Indemnitee’s heirs, executors and
administrators.

          b. The Corporation shall require any successor (whether direct or indirect, by purchase,
merger, consolidation or otherwise) to all or substantially all of the business or assets of the
Corporation, expressly to assume and agree to perform this Agreement in the same manner and to the
same extent that the Corporation would be required to perform if no such succession had taken
place.

     12. Separability. Each of the provisions of this Agreement is a separate and
distinct agreement and independent of the others, so that if any provision hereof shall be held to
be invalid for any reason, such invalidity or unenforceability shall not affect the validity or
enforceability of the other provisions hereof (unless such invalidity or unenforceability shall
render ineffective such other provision). Furthermore, if this Agreement shall be invalidated in
its entirety on any ground, then the Corporation shall nevertheless indemnify Indemnitee to the
fullest extent provided by the Articles, the Bylaws, the Code or any other applicable law.

     13. Governing Law. This Agreement shall be interpreted and enforced in accordance
with the laws of the State of California as if a contract entered into in California, between
California residents and to be performed entirely within California.

     14. Amendment and Termination. No amendment, modification, termination or
cancellation of this Agreement shall be effective unless in writing signed by both parties hereto.

     15. Identical Counterparts. This Agreement may be executed in one or more
counterparts, each of which shall for all purposes be deemed to be an original but all of which
together shall constitute but one and the same Agreement.

     16. Headings. The headings of the sections of this Agreement are inserted for
convenience only and shall not be deemed to constitute part of this Agreement or to affect the
construction hereof.

     17. Notices. All notices, requests, demands and other communications hereunder shall
be in writing and shall be deemed to have been duly given (i) upon delivery if delivered by hand to
the party to whom such communication was directed or (ii) upon the third business day after the
date on which such communication was mailed if mailed by certified or registered mail with postage
prepaid:

5

 

	 	a.	 	if to Indemnitee, at the address indicated below Indemnitee’s signature
hereunder (or such last address provided by Indemnitee to the Corporation).
	 
	 	b.	 	if to the Corporation, to
	 
	 	 	 	Asyst Technologies, Inc.

46897 Bayside Parkway

Fremont, CA 94538

Attn: Chief Executive Officer

          General Counsel

or to such other address as may have been later furnished to Indemnitee by the Corporation.

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement on and as of the day and
year first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	ASYST TECHNOLOGIES, INC.
	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Stephen S. Schwartz	 	 
	 

	 	 	 	Chief Executive Officer	 	 
	 

	 	 	 	Chairman of the Board of Directors	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	INDEMNITEE	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Address:	 	 	 	 

6exv10w49

 

Exhibit 10.49

ASYST TECHNOLOGIES, INC.

CHANGE-IN-CONTROL AGREEMENT

     THIS CHANGE-IN-CONTROL AGREEMENT (this “Agreement”) is made and entered into as of
[___] (the “Effective Date”), by and between Asyst Technologies, Inc., a California
corporation (“Asyst”), and [___] (the “Executive”).

     WHEREAS, Asyst considers it essential to foster the continued employment of key management
personnel and recognizes the distraction and disruption that the possibility of a Change in Control
(as defined in Section 1(e) below) may raise, to the detriment of Asyst and its stockholders; and

     WHEREAS, Asyst has determined to take appropriate steps to reinforce and encourage the
continued attention and dedication of key management personnel to their assigned duties in the face
of a possible Change in Control;

     NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein,
Asyst and the Executive hereby agree as follows:

1. DEFINITIONS.

          (a) “Base Salary” shall mean the annualized base salary of the Executive at the time of
termination of his employment, within the application of this Agreement.

          (b) “Beneficiary” shall mean (i) the person or persons named, by the Executive by written
notice to Asyst, to receive any compensation or benefit payable under this Agreement, or (ii) in
the event of his death, if no such person is named and survives the Executive, his estate.

          (c) “Board” shall mean the Board of Directors of Asyst, acting in such capacity.

          (d) “Cause” shall mean any of the following, occurring during the term of the Executive’s
employment or employment relationship with Asyst:

               (i) the Executive’s conviction in a court of law of, or guilty plea, no contest plea or nolo
contendere plea to, a felony charge;

               (ii) willful, substantial and continued failure by the Executive to perform the duties of his
position after receiving notice of the same;

               (iii) willful engagement by the Executive in conduct that is demonstrably, materially and
economically injurious to Asyst; or

               (iv) gross negligence by the Executive during the performance of the duties of his position
resulting in demonstrable, material and economic injury to Asyst.

 

 

          (e) “Change in Control” shall mean any of the following, occurring during the term of the
Executive’s employment or employment relationship with Asyst:

               (i) an acquisition by an individual, an entity or a group (excluding Asyst, an employee
benefit plan of Asyst, or a corporation controlled by Asyst) of 30 percent or more of Asyst’s
then-outstanding common stock or voting securities;

               (ii) a change in composition of the Board occurring within a rolling two-year period, as a
result of which fewer than a majority of the directors are Incumbent Directors (“Incumbent
Directors” shall mean directors who either (x) are members of the Board as of the Effective Date or
(y) are elected, or nominated for election, to the Board with the affirmative votes of at least a
majority of the Incumbent Directors at the time of such election or nomination, but shall not
include an individual not otherwise an Incumbent Director whose election or nomination is in
connection with an actual or threatened proxy contest (relating to the election of directors to the
Board)); or

               (iii) consummation of a complete liquidation or dissolution of Asyst, or a merger,
consolidation or sale of all or substantially all of Asyst’s then-existing assets (collectively, a
“Business Combination”), other than a Business Combination (x) in which the stockholders of Asyst
immediately prior to the Business Combination receive 50 percent or more of the voting stock
resulting from the Business Combination, (y) at least a majority of the board of directors of the
corporation resulting from the Business Combination were Incumbent Directors and (z) after which no
individual, entity or group (excluding any corporation resulting from the Business Combination or
any employee benefit plan of such corporation or of Asyst) owns 30 percent or more of the stock of
the corporation resulting from the Business Combination who did not own such stock immediately
before the Business Combination.

          (f) “Disability” shall mean the illness or other mental or physical disability of the
Executive, as determined by a physician acceptable to Asyst and the Executive, resulting in his
failure (i) to perform substantially the material duties of his position for a period of six or
more consecutive months, or an aggregate of nine months in any 12-month period, and (ii) to return
to the performance of his duties within 30 days after receiving written notice of termination.

          (g) “Good Reason” shall mean, without the Executive’s prior written consent or his
acquiescence:

               (i) assignment to the Executive of duties incompatible with his position, failure to maintain
him in this position and its reporting relationship, or a substantial diminution in the nature of
his authority or responsibilities;

               (ii) reduction in his then-current Base Salary or in the bonus or incentive compensation
opportunities or benefits coverage available during the term of this Agreement, except pursuant to
an across-the-board reduction similarly affecting all senior executives of Asyst;

2

 

               (iii) termination of the Executive’s employment, for any reason other than Cause, death,
Disability or voluntary termination, within two years following a Change in Control;

               (iv) within two years following a Change in Control, relocation of the Executive’s principal
place of business to a location more than 30 miles from the location of such office on the date of
this Agreement; or

               (v) Asyst’s failure to pay the Executive any material amounts otherwise vested and due him
hereunder or under any plan, program or policy of Asyst.

2. TERM OF AGREEMENT.

          This Agreement shall be effective immediately as of the Effective Date, and shall remain in
effect until the earliest to occur of (a) termination of the Executive’s employment with Asyst
following a Change in Control (i) by reason of death or Disability, (ii) by Asyst for Cause, or
(iii) by the Executive other than for Good Reason; (b) two years after the date of a Change in
Control; or (c) [_two years from start date_], provided that a Change in Control has not occurred
before that date.

     3. ENTITLEMENT UPON TERMINATION BY ASYST WITHOUT CAUSE OR BY THE EXECUTIVE FOR GOOD REASON
WITHIN TWO YEARS FOLLOWING A CHANGE IN CONTROL.

     In the event of termination of the Executive’s employment within two years following a Change
in Control (a) by Asyst without Cause or (b) by the Executive for Good Reason, he shall be entitled
to the entitlements set out below in this section 3. Generally, such amounts to be paid to the
Executive in a cash lump sum within 30 business days after termination except that (i) the payment
of any equity awards may be made in shares and (ii) in the event it is determined that the
Executive is a “Specified Employee” as defined in Section 409A(a)(2)(B)(i) of the Internal Revenue
Code of 1986, as amended (the “Code”), any payment to be made under this Agreement that is
“nonqualified deferred compensation” subject to Section 409A of the Code shall be delayed for six
months following the Executive’s termination of employment.

          (a) General Entitlement:

               (i) his Base Salary through the date of termination, but not yet paid to him;

               (ii) payment in lieu of any unused vacation, in accordance with Asyst’s vacation policy and
applicable laws;

               (iii) any annual or discretionary bonus earned but not yet paid to him for any completed
fiscal year prior to the fiscal year in which his termination occurs;

3

 

               (iv) any compensation under any deferred compensation plan of Asyst or deferred compensation
agreement with Asyst then in effect (subject to the terms and conditions of such plan);

               (v) any other compensation or benefits, including without limitation any benefits under
long-term incentive compensation plans, any benefits under equity grants and awards and employee
benefits under plans that have vested through the date of termination, or to which he may then be
entitled, in accordance with the applicable terms of each grant, award or plan; and

               (vi) reimbursement of any business expenses reasonably and properly incurred by the Executive
through the date of termination, but not yet paid to him.

          (b) Change-in-Control Entitlement:

               (i) two times the sum of (A) his Base Salary, at the rate in effect immediately before such
termination, and (B) an amount equal to the average of his annual bonuses actually paid by Asyst to
the Executive during the three completed fiscal years prior to the year in which termination
occurs;

               (ii) continuing coverage under the life, disability, accident, health, dental and vision
insurance programs covering senior executives of Asyst generally, as from time to time in effect,
to the extent permitted under COBRA coverage or the terms of such programs, for the two-year period
from such termination, or, if earlier, through such date as he becomes eligible for substantially
similar coverage under the employee benefit plans of a new employer, provided that the Executive
agrees that the period of continuation coverage under such plans shall count against any obligation
by the plan or Asyst to provide continuation coverage pursuant to COBRA; and

               (iii) immediate and unconditional vesting of any unvested stock options and stock grants
previously awarded to the Executive and, for the period ending with the later of (i) the
15th day of 3rd month following the date on which the exercise period for the
option in question would otherwise have expired or (ii) December 31 of the calendar year in which
that exercise period would otherwise have expired, the right to exercise all stock options, grants
and awards vested as of the termination of employment, provided, however, that in no event shall
this section 3(b)(iii) extend the exercise period for an option beyond the date that is one year
following the termination of employment.

          (c) Determination of Amount of Payment. In the event that any payments or other benefits
received or to be received by the Executive pursuant to this Agreement (“Payments”) would (i)
constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for
this Section 3(c), be subject to the excise tax imposed by Section 4999 of the Code (the “Excise
Tax”), then, the Executive shall receive either (x) the full amount of any parachute payment or (y)
2.99 times the Executive’s “base amount” (as such term is defined under the Parachute Rules),
whichever of the foregoing amounts (after taking into account any applicable federal, state and
local income taxes and the Excise Tax) results in the receipt by the Executive, on an after-tax
basis, of the greater payment provided that (a) the acquiring person in

4

 

the Change of Control, in its sole discretion, does not object thereto and does not impose on
Asyst or its stockholders any added cost, price reduction, or other detriment therefrom (economic
or otherwise as determined in Asyst’s sole discretion), and (b) the Executive deposits at least
three (3) business days prior to consummation of the Change of Control with a party designated by
Asyst a cash sum sufficient in the discretion of Asyst to fund all withholding payments that may
arise in connection with the Executive’s parachute payments from any source. In the event a
reduction provides the greater benefit Asyst shall reduce and cancel, and the Executive hereby
waives, the parachute payment to the minimum extent necessary to equal the amount described in (y)
above.

     In no event shall Asyst be required to gross up any payment or benefit to the Executive to
avoid the effects of Section 280G of the Code or to pay any regular or excise taxes arising
therefrom. Unless Asyst and the Executive otherwise agree in writing, any parachute payment
calculation shall be made in writing by independent public accounts agreed to by Asyst and the
Executive, whose calculations shall be conclusive and binding upon Asyst and the Executive for all
purposes. Asyst and the Executive shall furnish to the accountants such information and documents
as the accountants may reasonable request in order to make a parachute payment determination. If
the Internal Revenue Service (the “IRS”) determines that a Payment is subject to the Excise Tax,
then the following paragraph shall apply.

     Notwithstanding any reduction described in the immediately preceding paragraph (or in the
absence of any such reduction), if the IRS determines that the Executive is liable for the Excise
Tax as a result of the receipt of Payments, then the Executive shall be obligated to pay back to
Asyst, within 30 days after final IRS determination, an amount of the Payments equal to the
“Repayment Amount.” The Repayment Amount shall be the smallest such amount, if any, as shall be
required to be paid to Asyst so that the Executive’s net proceeds with respect to the Payments
(after taking into account the payment of the Excise Tax imposed on such Payments) shall be
maximized. Notwithstanding the foregoing, the Repayment Amount shall be zero if a Repayment Amount
of more than zero would not eliminate the Excise Tax imposed on the Payments. If the Excise Tax is
not eliminated pursuant to this paragraph, the Executive shall pay the Excise Tax.

          (d) Release. Asyst may require, as a condition of receiving the foregoing Change-in-Control
payment or other Payment under subsection (b) or (c) above, that the Executive execute in
conjunction with his termination a general release substantially in the form annexed hereto as
Exhibit A (subject to such reasonable changes as may be required by circumstances or
changes in applicable law as are necessary to give effect to the same), which upon execution shall
be deemed incorporated herein by reference as a material part of this Agreement.

          (e) Compliance with Section 409A of the Code. It is the intent of the parties to this
Agreement that any of the payments set forth in this Agreement which meet the definition of
nonqualified deferred compensation under Section 409A of the Code shall be made in a manner that
complies with Section 409A of the Code. Asyst reserves the right, to the extent Asyst deems
necessary or advisable in its sole discretion, to unilaterally amend or modify this Agreement as
may be necessary to ensure that all benefits provided under this Agreement are made in a manner
that qualifies for exemption from or complies with Section 409A of the Code, provided,

5

 

however, that Asyst makes no representations that the compensation or benefits provided under
this Agreement will be exempt from Section 409A of the Code and makes no undertakings to preclude
Section 409A of the Code from applying to the benefits provided under this Agreement.

          (f) Relation to Other Agreements. Payments under this Section 3 shall supersede and replace
any other payments under any other employment contract or offer letter to which the Executive may
be a party or participant and that otherwise would become due as a result of a termination of
employment.

     4. NO MITIGATION.

          Asyst agrees that if the Executive’s employment with Asyst terminates, he shall not be
obligated to seek other employment or to attempt to reduce any amount payable to him under this
Agreement. Further, with the exception of the benefits described in Section 3(b)(ii), no
amount of any payment hereunder shall be reduced by any compensation earned by the Executive as the
result of employment by a subsequent employer or otherwise.

     5. NOTICES.

          Any notice or other communication required or permitted under this Agreement shall be in
writing and shall be deemed to have been duly given when delivered by hand, electronic transmission
(with a copy following by hand or by overnight courier), by registered or certified mail, postage
prepaid, return receipt requested or by overnight courier addressed to the other party. All notices
shall be addressed as follows, or to such other address or addresses as may be substituted by
notice in writing:

	 	 	 
	To Asyst :

	 	To the Executive:
	Asyst Technologies, Inc.

	 	[                    ]
	General Counsel

	 	46897 Bayside Parkway
	46897 Bayside Parkway

	 	Fremont, CA 94538
	Fremont, CA 94538

	 	Fax: (510) 661-5166
	Fax: (510) 661-5624
	 	 

     6. GENERAL PROVISIONS.

          (a) Amendments. Except as otherwise set forth in Section 3(e), no provision of this Agreement
may be amended, modified or waived unless such amendment, modification or waiver shall be agreed to
in writing and signed by the Executive and by the Compensation Committee of the Board.

          (b) Severability. If any provision of this Agreement shall be determined to be invalid or
unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement
shall be unaffected thereby and shall remain in full force and effect to the fullest extent
permitted by law.

6

 

          (c) 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 without being impaired or invalidated in any way.

          (d) Governing Law. This Agreement shall be construed, interpreted and governed in accordance
with the laws of the State of California, without reference to rules relating to conflicts of law.

          (e) Inconsistencies. The terms of this Agreement supersede any inconsistent prior promises,
policies, representations, understandings, arrangements or agreements between the parties, whether
by employment contract or otherwise.

          (f) Survival. Notwithstanding the termination of the term of this Agreement, the duties and
obligations of Asyst, if any, following the termination of the Executive’s employment following a
Change in Control shall survive indefinitely.

          (g) Withholding. Asyst may deduct and withhold from any payments hereunder the amount that
Asyst, in its reasonable judgment, is required to deduct and withhold for any federal, state or
local income or employment taxes.

          (h) No Other Compensation; Employee at Will. Except and to the extent specifically provided
in Section 3 above, no amount or benefit shall be due or payable to the Executive, and no
obligation or liability due or owing by Asyst, under this Agreement or otherwise in respect of
termination of his employment (at any time or within two years following a Change in Control).
This Agreement shall not be construed as creating an express or implied contract of employment and,
except and to the extent specifically otherwise agreed in writing between the Executive and Asyst,
the Executive is and shall remain an “employee at will” and shall not have any right or expectation
(reasonable or otherwise) to be retained or continue in the employ of Asyst.

          (i) Arbitration. Any right or benefit, or obligation or liability, granted or arising under
this Agreement, and any other dispute between the Executive and Asyst arising from or relating to
the Executive’s employment or termination of employment, shall be subject to and resolved
exclusively by binding non-appealable arbitration. The terms and conditions of the Agreement to
Arbitrate Disputes and Claims shall govern such arbitration (in the event entered between the
parties, and as amended from time to time), be binding on the Executive and Asyst and shall be
deemed incorporated herein by reference as a material part of this Agreement. Neither the
Executive nor Asyst shall be liable to, or entitled to recover from, the other, for any claim,
cause or action, suit or proceeding relating to any right or obligation hereunder, any incidental,
special, consequential or exemplary damages of any kind, including punitive damages (and the
arbitrator will be without jurisdiction to award such damages). The arbitrator also will not have
authority to award attorneys’ fees or costs to either party, unless a statute at issue which is the
basis for the dispute expressly authorizes the award of attorneys’ fees or costs to the prevailing
party. In this instance, the arbitrator shall have the authority to make an award of only of
reasonable attorneys’ fees and costs to the prevailing party, and to the extent and in the manner
permitted by the applicable statute. However, any award of fees and costs will be

7

 

limited to the amount of reasonable fees and costs actually incurred and which bear a
reasonable relation to the prevailing party’s actual recovery.

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
above written.

	 	 	 	 	 	 	 
	 	 	ASYST TECHNOLOGIES, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:

Title:	 	 
	 
	 	 	 	 	 	 
	 	 	EXECUTIVE	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

8

 

EXHIBIT A

SEVERANCE AGREEMENT AND RELEASE OF ALL CLAIMS

This Severance Agreement and Release of All Claims (“Agreement and Release”) is intended to
constitute a binding agreement between you, ___(“Employee”), and Asyst Technologies, Inc.,
on behalf of its subsidiary and affiliated entities (“Asyst” or the “Company”). Please review the
terms carefully. By signing below, you are agreeing to end your employment relationship with Asyst
on the terms identified below, and in return for the benefits provided herein. We advise you to
consult with an attorney or other advisor concerning its terms and obligations and the specific
effect on your legal rights. This Agreement and Release is deemed effective as of ___(the
“Effective Date”).

     1. Your employment with Asyst shall terminate on ___. You understand you have no
recall rights.

     2. You and Asyst agree that this Agreement and Release is contractual in nature and not a mere
recital, and that this Agreement and Release shall be interpreted as though drafted jointly by the
Employee and Asyst.

     3. You will be entitled to the benefits described in the Change-in-Control Agreement between
Asyst and you dated ___. You understand that, except as provided herein, you will not
be entitled to any additional payments or severance or any other benefits from Asyst associated
with any claimed work or right to work beyond the date of your termination.

     4. During the course of your employment with Asyst, you have had access to or have had
possession of confidential and proprietary information or materials of Asyst (including, but not
limited to, technical information, business plans, client, supplier and employee information,
telephone records or lists, and non-public financial information). You acknowledge and understand
that all such information or material constitutes confidential information of Asyst and/or its
customers and affiliates; you agree that you shall not retain any, and that you must return to
Asyst all, originals and copies of such material. You further agree that you shall not use,
disclose or divulge any such material or other confidential or trade secret information of Asyst,
its customers or affiliates to any third party company, individual or institution without the
direct written authorization of Asyst’s C.E.O., and that your confidentiality obligations to Asyst
are continuing into the future regardless of termination of your employment.

     5. You also agree to return promptly all property of Asyst, including pagers, cellular phones,
PDAs and any other materials or equipment in your possession or which were provided to you by or
through Asyst. You further understand that any use of credit or telephone cards, cellular phones,
pagers, PDAs, and other materials or equipment provided to you by or through Asyst will not be
authorized beyond your termination date, and any expenses incurred after your termination date will
not be eligible for reimbursement.

     6. You hereby fully waive, release and discharge Asyst, its parent, subsidiary and affiliated
entities, and the shareholders, directors, officers, employees, agents and representatives

9

 

of each (the “Released Parties”) from, and agree never to assert against any of the Released
Parties any and all claims, liabilities, charges and causes of action of any kind whatsoever which
you have, had or may have against them as of the date on which you sign this Agreement, including
without limitation any and all claims, liabilities, charges and causes of action relating to:

	 	(a)	 	your employment, termination of employment or any right,
expectation, claim or benefit relating to or arising in any manner from your
employment;
	 
	 	(b)	 	any and all rights or claims relating to or in any manner
arising under the California Fair Employment and Housing Act (Government Code
section 12900 et seq., as amended);
	 
	 	(c)	 	any and all rights or claims relating to or in any manner
arising under the Civil Rights Act of 1964 (42 U.S.C. 2000, et seq., as
amended);
	 
	 	(d)	 	any and all rights or claims relating to or in any manner
arising under the Americans with Disabilities Act (29 U.S.C. 706 et seq., as
amended);
	 
	 	(e)	 	any and all rights or claims relating to or in any manner
arising under the Age Discrimination in Employment Act of 1967 (29 U.S.C. 621
et seq., as amended);
	 
	 	(f)	 	any and all rights or claims relating to or in any manner
arising under the WARN Act (as amended), and any comparable provisions of
California or other applicable law;
	 
	 	(g)	 	any and all rights or claims relating to or in any manner
arising under the Equal Pay Act of 1963 (as amended);
	 
	 	(h)	 	any and all rights or claims relating to or in any manner
arising under the California Labor Code Section 1197.5 (as amended); and
	 
	 	(i)	 	any and all rights or claims otherwise relating to or in any
manner arising under federal, state or local statutory, administrative or
common law or regulation, including claims for wrongful termination or
constructive discharge or demotion, breach of contract (written, oral or
implied), breach of the covenant of good faith and fair dealing, violation of
public policy, infliction of emotional distress, personal injury, defamation
and misrepresentation.

Asyst hereby fully waives, releases and discharges you from, and agrees never to assert against
you, any and all claims, liabilities, charges and causes of action of any kind whatsoever which
Asyst has, had or may have against you as of the date on which you sign this Agreement, provided,
however, that nothing in this Paragraph 6 shall preclude Asyst from enforcing its rights with
respect to your obligations under the terms and conditions of (i) this Agreement and Release, (ii)
the releases from you contained herein, and (iii) the Agreement to Arbitrate

10

 

Disputes and Claims and the Confidential Information and Inventions Assignment Agreement you may
have executed previously in conjunction with your employment with Asyst.

     7. Each party waives his or its rights under section 1542 of the Civil Code of California, or
other comparable provision of applicable law, 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 of executing the
release, which if known to him must have materially affected his
settlement with the debtor.

     8. This Agreement and Release shall not affect any waiver or release of any claim for workers’
compensation benefits and unemployment insurance benefits.

     9. You understand, represent and agree that:

(a) you have had a reasonable opportunity to consider this Agreement and Release and
to consult an attorney or other advisor before signing this Agreement and Release;

	 	(b)	 	you have read this Agreement and Release in full and understand
all of the terms and conditions set forth herein;
	 
	 	(c)	 	you knowingly and voluntarily agree to all of the terms and
conditions set forth herein and intend to be legally bound by them;
	 
	 	(d)	 	you may rescind this Agreement and Release only with respect to
claims arising under the Age Discrimination in Employment Act of 1967 (29
U.S.C. 621 et seq.) and only if you do so within seven (7) days after signing
it (in which case you will forfeit in full and agree immediately to refund,
return to and reimburse Asyst any and all benefits provided to you under
Paragraph 8, above); and
	 
	 	(e)	 	this Agreement and Release will not become effective or
enforceable with respect to claims arising under the Age Discrimination in
Employment Act of 1967 (29 U.S.C. 621 et seq.) until seven (7) days after you
have signed it.

     10. You represent that you have not filed any complaints, claims, grievances or actions
against Asyst, its parent, subsidiary and affiliated entities, and the shareholders, directors,
officers, employees, agents and representatives of each, or any other of the Released Parties in
any state, federal or local court or agency, and you covenant not to file any such complaints,
claims, grievances, or actions (other than for workers’ compensation benefits, unemployment
insurance benefits or otherwise not subject to by law to your waiver or releases herein) at any
time hereafter. You hereby grant power of attorney to Asyst to dismiss on your behalf any such

11

 

complaint, claim grievance or action you filed in violation of this Paragraph.
Notwithstanding the foregoing, you acknowledge and agree that in the event you successfully assert
any claim against Asyst, despite the waivers, releases and other representations provided in this
Agreement and Release, that an amount equal to any and all benefits provided to you under Paragraph
3, above, may and shall be off-set and deducted from any recovery from such claim.

     11. Asyst represents that it has not filed any complaints, claims, grievances or actions
against you in any state, federal or local court or agency, and Asyst covenants not to file any
such complaints, claims, grievances, or actions at any time hereafter with respect to the claims
released by Asyst hereunder. Asyst hereby grants power of attorney to you to dismiss on Asyst’s
behalf any such complaint, claim grievance or action Asyst filed in violation of this Paragraph.

     12. You agree not to defame, disparage or criticize Asyst or its shareholders, directors,
officers, employees or business or employment practices at any time. In addition, you agree not to
engage in any conduct that you know or reasonably should know will damage the reputation of Asyst
or cause third parties to view Asyst or its shareholders, directors, officers or employees in a
less favorable light.

     13. You agree to not to disclose the existence of this Agreement and Release, its terms, or
any information relating to this Agreement and Release to anyone other than your spouse (if any),
tax preparer, accountant, attorney and other professional adviser or party to whom disclosure is
necessary in order to comply with the law. In such event, you will instruct them to maintain the
confidentiality of this Agreement and Release just as you must.

     14. The parties agree that this Agreement and Release shall be binding upon their successors
and assignees. Each represents that it has not transferred to any person or entity any of the
rights released or transferred through this Agreement.

     15. If a court of competent jurisdiction declares or determines that any provision of this
Agreement and Release is invalid, illegal or unenforceable, the invalid, illegal or unenforceable
provision(s) shall be deemed not a part of this Agreement, but the remaining provisions shall
continue in full force and effect.

     16. Each party, upon breach of this Agreement and Release by the other, shall have the right
to seek all necessary and proper relief, including, but not limited to, specific performance, from
a court of competent jurisdiction.

     17. Each party agrees that any differences, disputes or controversies between us arising from
this Agreement and Release or from rights or obligations hereunder, or any liabilities asserted or
arising from your employment or its termination, shall be exclusively submitted to binding
arbitration before an independent and qualified arbitrator in accordance with the American
Arbitration Association and the National Rules for the Resolution of Employment Disputes then in
effect, without reference to conflict of laws principles. Arbitration shall be the exclusive forum
for any dispute, claim or cause arising hereunder, or any liabilities asserted or arising from your
employment or its termination, and the decision and award by the arbitrator shall be final and
binding upon, and non-appealable by, the parties and may be entered in any state or federal court
having jurisdiction. In all other respects, the arbitration shall be

12

 

subject to the terms and conditions provided in the Agreement to Arbitrate Disputes and Claims
(if previously or contemporaneously executed by you and Asyst), which said terms and conditions are
deemed incorporated in his Agreement and Release in full by this reference and made a material part
hereof.

     18. Neither you nor Asyst shall be able to recover from the other, for any claim, cause or
action arising hereunder, any incidental, special, consequential or exemplary damages of any
nature, including but not limited to punitive damages, or attorneys fees or costs incurred in any
such claim, cause or action, unless and to the extent any such award of damages, fees or costs is
specifically provided and available to the party as a remedy under the statute asserted as a basis
for the claim, cause or action, and, unless so specifically provided, the court or arbitrator in
any such claim, cause or action shall be without authority or jurisdiction to award such damages
fees or costs; provided, however, that provisional or injunctive remedies and relief shall be
available as appropriate to each party.

     19. We each, to the fullest extent permitted by law, waive any right or expectation against
the other to trial or adjudication by a jury of any claim, cause or action arising hereunder or
from the rights, duties or liabilities created hereby.

     20. The laws of the State of California shall govern the construction and enforcement of this
Agreement and Release and any rights, obligations or liabilities hereunder, without regard to
conflicts of laws considerations.

     21. You certify and confirm that you do not have in your possession any, and that you have
returned to Asyst as of termination of your employment all, property, devices, records, data,
notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches,
materials equipment, other documents or property, or reproductions of any aforementioned items
belonging to Asyst.

     22. You also certify and confirm that you have complied during your employment with all the
terms of Asyst’s Confidential Information and Inventions Assignment Agreement in the event
previously signed by you, including the reporting of any inventions and original works of
authorship (as defined therein), conceived or made by you (solely or jointly with others) covered
by that agreement. You further agree that you will continue to be required to preserve as
confidential all trade secrets, confidential knowledge, data or other proprietary information
relating to services, clients, products, processes, know-how, designs, formulas, developmental or
experimental work, computer programs, data bases, other original works of authorship, customer
lists, business plans, financial information or other subject matter pertaining to any business of
Asyst or any of its employees, clients, consultants or licensees.

     23. You further agree that for the six (6) month period from the date of termination of your
employment or consulting relationship with Asyst, you will not recruit or solicit any employee to
leave Asyst for any reason or to accept employment with any other company, and will not interview
or knowingly provide any assistance or input to any third party regarding any such employee.

13

 

     24. You understand that the provisions of the Change-in-Control Agreement between Asyst and
you dated ___and the provisions of this Agreement and Release set forth the entire
agreement between you and Asyst concerning your employment, separation benefits and termination of
employment, and that this Agreement and Release replaces any other promises, representations or
agreement between you and Asyst, whether written or oral, concerning such matters. You also
understand that any benefits provided you under this Agreement and Release are offered on a
one-time basis, and are not a part of a funded employee welfare program or established Asyst
practice or policy. Any modification of this Agreement and Release, or change to the benefits
offered hereunder, must be in writing and executed in advance by you and the Vice President, Human
Resources for Asyst, or else such notification will not be binding or effective.

     25. In the event that you breach any of your obligations under this Agreement and Release or
as otherwise imposed by law, Asyst will be entitled to recover the sums and benefits paid under the
Agreement and Release and to obtain all other relief provided by law or equity.

     26. The parties agree and represent that they have not relied and do not rely upon any
representation or statement regarding the subject matter or effect of this Agreement and Release
made by any other party to this Agreement and Release or any party’s agents, attorneys or
representatives.

I, THE UNDERSIGNED, HAVE HAD A SUFFICIENT OPPORTUNITY TO CONSIDER THIS AGREEMENT AND RELEASE AND
HAVE BEEN ADVISED IN WRITING THAT I MAY CONSULT WITH AN ATTORNEY CONCERNING ITS TERMS AND EFFECT
PRIOR TO EXECUTING THIS AGREEMENT AND RELEASE.

I, THE UNDERSIGNED, HAVE READ THIS AGREEMENT AND RELEASE AND UNDERSTAND THAT I ENTER THIS AGREEMENT
AND RELEASE INTENDING TO AND DO WAIVE, SETTLE AND RELEASE ALL CLAIMS I HAVE OR MIGHT HAVE AGAINST
ASYST TO THE FULL EXTENT PERMITTED BY LAW. I SIGN THIS AGREEMENT AND RELEASE VOLUNTARILY AND
KNOWINGLY.

ACKNOWLEDGED, UNDERSTOOD AND AGREED:

	 	 	 	 	 	 	 
	EMPLOYEE:	 	ASYST TECHNOLOGIES, INC.	 	 
	 
	 	 	 	 	 	 
	                                        

	 	By:
	 	                                        	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	Date:                                         	 	Date:                                         	 	 

14

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00124-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00124-of-00352.parquet"}]]