Document:

exv10w22

 

Exhibit 10.22

[LSI Logic Letterhead]

January 29, 2007

Jeff Hoogenboom

116 Trellingwood Drive

Morrisville, NC 27560

Dear Jeff:

I am pleased to confirm our offer of employment with LSI LOGIC CORPORATION. To be sure that you
understand the terms and conditions of this offer of employment, I would like to detail them below.

Your position will be Executive Vice President, Sales and an elected officer of the Company pending
Board of Director approval. You will be reporting to Abhi Talwalkar and you will receive
$325,000.00 annualized.

You will be eligible for all executive company benefits, including group health insurance coverage,
annual tax and financial counseling, and one-time estate planning, as of your date of hire. The
details of these plans will be discussed with you when you join the company.

You will receive a monthly car allowance of $800.00.

When you join LSI LOGIC CORPORATION, you will receive a one time “sign-on” bonus of $150,000.00,
less statutory withholding. This payment will be made 30 days after you join the company.

In this position you are eligible to participate in LSI Logic’s 2007 Incentive Plan. You have been
included in this Incentive Plan because of your ability to directly influence the results of your
organization and the Company. Your participation for incentive payout is based on your
contribution to LSI Logic’s achievement of its 2007 goals for Operating Income and Incremental
Revenue Growth and the achievement of your and your organization’s own specific objectives. Your
target short-term incentive amount is 55% of your base salary and is guaranteed at 100% of target
for the first year.

You will also be eligible to receive a performance-based bonus of $75,000.00 based on the
achievement of stretch goals set forth by Abhi Talwalker. This supplemental bonus opportunity will
be offered for your first year of employment only.

As is our normal practice, this offer is contingent upon verification of job applicable information
submitted on your application, verification of work authorization as required by the Immigration
Reform and Control Act of 1986, as well as your signing the ‘Employee Invention and Confidential
Information Agreement’.

 

 

If you find the terms of this offer acceptable, please sign below conveying your acceptance and
indicate a start date prior to returning this letter to me. Retain the enclosed copy of this
letter for your records. Jeff, we are excited about the opportunity to have you join our
organization. We have enjoyed meeting with you and are confident you will make a significant
contribution to the success and future of LSI Logic Corporation.

Regards,

	 	 	 
	/s/ Jon Gibson
	 	 
	 

Jon Gibson

	 	 
	Vice President, Human Resources
	 	 
	 
	 	 
	/s/ Jeff Hoogenboom

	 	2-20-2007
	 

Signature of Jeff Hoogenboom

	 	Date
	 
	 	 
	2-20-2007
	 	 
	Start Date
	 	 
	 
	 	 
	JG:vm
	 	 
	 
	 	 
	Enclosures
	 	 

 

 

[LSI Logic Letterhead]

January 29, 2007

Jeff Hoogenboom

116 Trellingwood Drive

Morrisville, NC 27560

Dear Jeff:

This is to advise you that upon becoming an employee of LSI Logic you will be eligible to be
granted an option to purchase shares of Common Stock of LSI Logic Corporation pursuant to the
Company’s stock option program. You will also be granted Restricted Stock Units.

Management intends to recommend that a non-statutory stock option to purchase 250,000 shares be
granted to you. However, this is not an offer to grant you an option or to sell you shares of LSI
Logic Corporation Common Stock. The LSI Logic Corporation Board of Directors has ultimate
discretionary authority with respect to stock option grants made by the Company and there can be no
assurances that management’s recommendation will be approved.

Stock option grants are made subject to the terms and conditions of the stock option plan, the
stock option grant award and such other terms as the Board of Directors may determine appropriate.
The exercise price for a stock option is normally equal to the closing price of the Company’s
Common Stock on the date the option grant is effective. In addition, stock options are subject to
a vesting schedule. Generally 25% of the option becomes exerciseable each year beginning one year
after the grant date, so long as the grantee remains an employee of the Company.

The foregoing is only a partial description of the terms generally provided for stock option
grants. The stock option plan under which a specific option is granted and the terms of a specific
grant award will be controlling in all respects. You will be notified when action has been taken on
the recommendation described above and will receive a copy of the stock option plan with the grant
award.

Management also intends to recommend that a grant of 100,000 Restricted Stock Units (RSUs) be
granted to you. The RSU grant will be granted under and subject to the terms, definitions, and
provisions of the Company’s 2003 Plan. They will be scheduled to vest at a rate of 1/4 on each
anniversary of the grant over four years assuming your continued employment with the Company on
each scheduled vesting date. Any portion of the RSU grant that becomes vested will be settled in
shares of the Company’s Common Stock promptly after vesting. The RSU grant will be subject to the
Company’s standard terms and conditions for RSUs granted under the 2003 Plan.

Regards,

	 	 	 
	/s/ Jon Gibson
	 	 
	 

Jon Gibson

	 	 
	Vice President, Human Resources
	 	 
	 
	 	 
	JG:vmexv10w23

 

Exhibit 10.23

March 19, 2007

Dr. Claudine Simson

4222 Hidden Canyon Cove

Austin, TX 78746

Dear Claudine:

I am pleased to confirm our offer of employment with LSI Logic Corporation. To be sure that you
understand the terms and conditions of this offer of employment, I would like to detail them below.

Your position will be Executive Vice President/Chief Technology Officer and an elected officer of
the Company pending Board of Director approval. You will be reporting to Abhi Talwalkar and you
will receive a $350,000.00 annualized base salary.

As of your date of hire, you will be eligible for all executive company benefits, including group
health insurance coverage, life insurance, an annual physical, annual tax and financial counseling,
and one-time estate planning. You will also be eligible to immediately participate in LSI Logic’s
401(k) Plan and to participate in the Company’s Employee Stock Purchase Plan as of the next open
enrollment period. Your participation in these Plans will require you to take the necessary steps
to enroll. The details of these Plans will be discussed with you when you join the company.

You will receive a monthly car allowance of $800.00.

When you join LSI Logic, you will receive a one time “sign-on” bonus of $125,000.00, less statutory
withholdings. This payment will be made within approximately 30 days after you join the Company.

Your office will be located in Austin, Texas.

In this position, you are eligible to participate in LSI Logic’s 2007 Short Term Incentive Plan.
You have been included in the Short Term Incentive Plan because of your ability to directly
influence the results of your organization and the Company. Your participation for incentive
payout is based on your contribution to LSI Logic’s achievement of its 2007 goals for Operating
Income and the achievement of your and your organization’s own specific objectives. Your target
short term incentive amount is 55% of your base salary, but the actual award could be above or
below this target level based on the Company’s performance to plan, and your individual
performance.

 

 

Shortly after becoming an employee of LSI Logic, a non-statutory stock option to purchase 300,000
shares will be granted to you by the Board of Directors. Stock option grants are made subject to
the terms and conditions of the stock option plan, the stock option grant award, and such other
terms as the Board of Directors may determine appropriate. The exercise price for a stock option
is normally equal to the closing price of the Company’s Common Stock on the date the option grant
is effective. In addition, stock options are subject to a vesting schedule. Generally 25% of the
option grant becomes exercisable each year beginning one year after the grant date, so long as you remain an
employee of the Company. The foregoing is only a brief and partial description of the terms
generally provided for stock option grants. The stock option plan under which a specific option is
granted and the terms of a specific grant award will be controlling in all respects. You will
receive a copy of the stock option plan with the grant award.

In addition, 100,000 Restricted Stock Units (RSUs) will be granted to you effective no later than
the 20th day of the month following your date of hire. The RSU grant will be granted under and
subject to the terms, definitions, and provisions of the Company’s 2003 Plan. The RSU grant will
be scheduled to vest at a rate of 25% on each anniversary of the grant over four years assuming
your continued employment with the Company on each scheduled vesting date. Any portion of the RSU
grant that becomes vested will be settled in shares of the Company’s Common Stock promptly after
vesting. The RSU grant will be subject to the Company’s standard terms and conditions for RSUs
granted under the 2003 Plan.

Shortly after you commence your employment, you will be offered LSI Logic’s standard Change in
Control Severance Agreement. The Change in Control Severance Agreement expires on November 20,
2008, for all executive officers. The Board of Directors, at that time, and in their sole
discretion, will determine whether to offer some, all, or different terms as compared with the
current Change in Control Severance Agreement to some, all, or none of the Company’s executive
officers, including you.

In the event of a Company-initiated involuntary termination for other than cause, in which the
above-referenced Change in Control Severance Agreement is not triggered, the Company commits to
negotiate in good faith and offer a severance agreement to you in exchange for a release of all
claims you may have against the Company.

As is our normal practice, this offer is contingent upon verification of job applicable information
submitted on your application, verification of work authorization as required by the Immigration
Reform and Control Act of 1986, as well as your signing the “Employee Invention and Confidential
Information Agreement.”

If you find the terms of this offer acceptable, please sign below conveying your acceptance and
indicate a start date prior to returning this letter to me. Retain the enclosed copy of this
letter for your records.

 

 

Claudine, we are excited about the opportunity to have you join our organization! We have enjoyed
meeting with you and are confident you will make a significant contribution to the success and
future of LSI Logic.

Regards,

	 	 	 
	/s/ Jon Gibson
	 	 
	 

Jon Gibson

	 	 
	Vice President, Human Resources
	 	 
	 
	 	 
	/s/ Claudine Simson
 

Signature of Claudine Simson

	 	3/20/07

Date
	 
	 	 
	26 March 2007
	 	 
	Start Date
	 	 
	 
	 	 
	JG:vm
	 	 
	Enclosures

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