Document:

Exhibit 10.2

 

SILICON LABORATORIES INC.

RESTRICTED STOCK UNITS AGREEMENT

 

Silicon
Laboratories Inc. has granted to the Participant named in the Notice of Grant of Restricted Stock Units (the “Grant Notice”) to which this Restricted Stock Units
Agreement (the “Agreement”)
is attached an Award consisting of Restricted Stock Units subject to the terms
and conditions set forth in the Grant Notice, including any Addendum attached
to and incorporated into the Grant Notice (the “Addendum”), and this Agreement.  The Award has been granted pursuant to the Silicon
Laboratories Inc. 2000 Stock Incentive Plan (the “Plan”), as amended to the Grant Date, the
provisions of which are incorporated herein by reference.  By signing the Grant Notice, the Participant:
 (a) acknowledges receipt of and
represents that the Participant has read and is familiar with the Grant Notice,
the Addendum, if any, this Agreement, the Plan and prospectus for the Plan in
the form most recently registered with the Securities and Exchange Commission,
(b) accepts the Award subject to all of the terms and conditions of the
Grant Notice, the Addendum, if any, this Agreement and the Plan and
(c) agrees to accept as binding, conclusive and final all decisions or
interpretations of the Plan Administrator upon any questions arising under the
Grant Notice, the Addendum, if any, this Agreement or the Plan.

 

1.             DEFINITIONS AND CONSTRUCTION.

 

1.1          Definitions.  Unless otherwise defined herein, capitalized
terms shall have the meanings assigned to such terms in the Grant Notice or the
Plan.

 

1.2          Construction.  Captions and titles contained herein are for
convenience only and shall not affect the meaning or interpretation of any
provision of this Agreement.  Except when
otherwise indicated by the context, the singular shall include the plural and
the plural shall include the singular. 
Use of the term “or” is not intended to be exclusive, unless the context
clearly requires otherwise.

 

2.             ADMINISTRATION.

 

All questions of interpretation concerning the Grant
Notice, the Addendum, if any, and this Agreement shall be determined by the Plan
Administrator.  All determinations by the
Plan Administrator shall be final and binding upon all persons having an
interest in the Award.

 

3.             THE AWARD.

 

3.1          Grant of Restricted Stock Units.  On the Grant Date, the Participant shall
acquire, subject to the provisions of this Agreement, the Number of Restricted
Stock Units set forth in the Grant Notice, subject to adjustment as provided in
Section 9.  Each Restricted Stock Unit
represents a right to receive on a date determined in accordance with the Grant
Notice and this Agreement one (1) share of Common Stock.

 

 

3.2          No Monetary Payment Required.  The Participant is not required to make any
monetary payment (other than applicable tax withholding, if any) as a condition
to receiving the Restricted Stock Units or shares of Common Stock issued upon
settlement of the Restricted Stock Units, the consideration for which shall be
past services actually rendered and/or future services to be rendered to the Corporation
or for its benefit.  Notwithstanding the
foregoing, if required by applicable state corporate law, the Participant shall
furnish consideration in the form of cash or past services rendered to or for
the benefit of the Corporation and/or its Parent or Subsidiary having a value
not less than the par value of the shares of Common Stock issued pursuant to
the Award.

 

4.             VESTING
OF RESTRICTED STOCK UNITS.

 

4.1          Normal Vesting.  Except
as provided in Section 4.2 and Section 8, the Restricted Stock Units
shall vest and become Vested Units as provided in the Grant Notice.

 

4.2          Leave of Absence.  The
following provisions shall apply upon the Participant’s commencement of an
authorized leave of absence:

 

(a)           The vesting schedule in effect under
the Grant Notice shall be frozen as of the first day of the authorized leave
and the Number of Restricted Stock Units subject thereto shall not vest for any
additional installments during the period Participant remains on such leave.

 

(b)           Should Participant resume active
Employee status within sixty (60) days after the start date of the authorized
leave, the Participant shall, for purposes of the vesting schedule set forth in
the Grant Notice, receive Service credit for the entire period of such leave.  If the Participant does not resume active
Employee status within such sixty (60)-day period, then no Service credit shall
be given for the period of such leave.

 

5.             TERMINATION
OF SERVICE.

 

                In the event that the
Participant’s Service terminates for any reason or no reason, with or without
cause, the Participant shall forfeit and the Corporation shall automatically
reacquire all Restricted Stock Units which are not, as of the time of such
termination, Vested Units, and the Participant shall not be entitled to any
payment therefor.

 

6.             SETTLEMENT OF THE AWARD.

 

6.1          Issuance of Shares of Common Stock.  Subject to the provisions of Section 6.3
below, the Corporation shall issue to the Participant, on the Settlement Date,
or as soon as practicable thereafter, with respect to each Restricted Stock Unit
to be settled on such date, one (1) share of Common Stock; provided however,
that if such Settlement Date is a date on which a sale by the Participant of
the share of Common Stock to be issued in settlement of such Restricted Stock Unit
would violate the Insider Trading Policy of the Corporation, then the
Settlement Date with respect to such Restricted Stock Unit shall be the earlier
of (a) the next day on which such sale would not violate the Insider
Trading Policy or (b) the date that is two and

 

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one-half
(21⁄2) months from the end of the calendar year in which such Restricted Stock
Unit became a Vested Unit.  For purposes
of this Section, “Insider Trading Policy” means the written policy of
the Corporation pertaining to the sale, transfer or other disposition of the Corporation’s
equity securities by members of the Board, officers or other employees who may
possess material, non-public information regarding the Corporation, as in
effect at the time of a disposition of any shares of Stock.  Shares of Common Stock issued in settlement
of Restricted Stock Units shall not be subject to any restriction on transfer
other than any such restriction as may be required pursuant to Section 6.3.

 

6.2          Beneficial Ownership of Shares; Certificate Registration. 
The Participant hereby authorizes the Corporation, in its sole
discretion, to deposit for the benefit of the Participant with any broker with
which the Participant has an account relationship of which the Corporation has
notice any or all shares acquired by the Participant pursuant to the settlement
of the Award.  Except as provided by the
preceding sentence, a certificate for the shares as to which the Award is
settled shall be registered in the name of the Participant, or, if applicable,
in the names of the heirs of the Participant.

 

6.3          Restrictions on Grant of the Award and Issuance of Shares. 
The grant of the Award and issuance of shares of Common Stock upon
settlement of the Award shall be subject to compliance with all applicable
requirements of federal, state or foreign law with respect to such
securities.  No shares of Common Stock may
be issued hereunder if the issuance of such shares would constitute a violation
of any applicable federal, state or foreign securities laws or other law or
regulations or the requirements of any stock exchange or market system upon
which the Common Stock may then be listed. 
The inability of the Corporation to obtain from any regulatory body
having jurisdiction the authority, if any, deemed by the Corporation’s legal
counsel to be necessary to the lawful issuance of any shares subject to the
Award shall relieve the Corporation of any liability in respect of the failure
to issue such shares as to which such requisite authority shall not have been
obtained.  As a condition to the
settlement of the Award, the Corporation may require the Participant to satisfy
any qualifications that may be necessary or appropriate, to evidence compliance
with any applicable law or regulation and to make any representation or
warranty with respect thereto as may be requested by the Corporation.

 

6.4          Fractional Shares.  The Corporation shall not be required to
issue fractional shares upon the settlement of the Award.

 

7.             TAX WITHHOLDING.

 

7.1          In General.  Subject to Section 7.2, at the time the
Grant Notice is executed, or at any time thereafter as requested by the
Corporation, the Participant hereby authorizes withholding from payroll and any
other amounts payable to the Participant, and otherwise agrees to make adequate
provision for, any sums required to satisfy the federal, state, local and
foreign tax withholding obligations of the Corporation, if any, which arise in
connection with the Award or the issuance of shares of Common Stock in
settlement thereof.  The Corporation
shall have no obligation to deliver shares of Common Stock until the tax
withholding obligations of the Corporation have been satisfied by the
Participant.

 

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7.2          Withholding in Shares.  Unless otherwise determined by the Plan
Administrator, in its sole discretion, the Corporation shall satisfy all of the
Corporation’s tax withholding obligations (except with respect to any
fractional share) by withholding a number of whole shares of Common Stock otherwise
deliverable to the Participant in settlement of the Award having a fair market
value, as determined by the Corporation as of the date on which the tax
withholding obligations arise, not in excess of the amount of such tax
withholding obligations determined by the applicable minimum statutory
withholding rates.

 

8.             EFFECT OF CHANGE IN CONTROL ON
AWARD.

 

In the event of a
Change in Control, the vesting of the Restricted Stock Units shall be accelerated
in full and the total number of Restricted Stock Units subject to the Award
shall be deemed Vested Units effective as of the date of the Change in Control,
provided that the Participant’s Service has not terminated prior to such
date.  No such acceleration of this
Award, however, shall occur if and to the extent the Award is either assumed or
otherwise continued in full force and effect or a substitution is made for the
Award with a substantially equivalent award by the successor corporation (or
parent thereof) pursuant to the terms of the Change in Control.  The Award shall be settled in accordance with
Section 6 immediately prior to the Change in Control to the extent that
the Award is neither assumed nor continued in connection with the Change in Control.

 

9.             ADJUSTMENTS FOR CHANGES IN
CAPITAL STRUCTURE.

 

Subject to any
required action by the stockholders of the Corporation, in the event of any
change in the Common Stock effected without receipt of consideration by the Corporation,
whether through merger, consolidation, reorganization, reincorporation,
recapitalization, reclassification, stock dividend, stock split, reverse stock
split, split-up, split-off, spin-off, combination of shares, exchange of
shares, or similar change in the capital structure of the Corporation, or in
the event of payment of a dividend or distribution to the stockholders of the Corporation
in a form other than Common Stock (excepting normal cash dividends) that has a
material effect on the Fair Market Value of shares of Common Stock, appropriate
and proportionate adjustments shall be made in the number of Restricted Stock Units
subject to the Award and/or the number and kind of shares to be issued in
settlement of the Award, in order to prevent dilution or enlargement of the Participant’s
rights under the Award.  For purposes of
the foregoing, conversion of any convertible securities of the Corporation
shall not be treated as “effected without receipt of consideration by the Corporation.”  Any fractional share resulting from an
adjustment pursuant to this Section shall be rounded down to the nearest whole
number.  Such adjustments shall be
determined by the Plan Administrator, and its determination shall be final,
binding and conclusive.

 

10.          RIGHTS AS A STOCKHOLDER, BOARD MEMBER,
EMPLOYEE OR CONSULTANT.

 

The Participant
shall have no rights as a stockholder with respect to any shares which may be
issued in settlement of this Award until the date of the issuance of a
certificate for such shares (as evidenced by the appropriate entry on the books
of the Corporation or of a duly

 

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authorized transfer agent
of the Corporation).  No adjustment shall
be made for dividends, distributions or other rights for which the record date
is prior to the date such certificate is issued, except as provided in
Section 9.  If the Participant is an
Employee, the Participant understands and acknowledges that, except as
otherwise provided in a separate, written employment agreement between the
Corporation and the Participant, the Participant’s employment is “at will” and
is for no specified term.  Nothing in
this Agreement shall confer upon the Participant any right to continue in the
Service of the Corporation or interfere in any way with any right of the Corporation
to terminate the Participant’s Service at any time.

 

11.          LEGENDS.

 

The Corporation
may at any time place legends referencing any applicable federal, state or
foreign securities law restrictions on all certificates representing shares of
stock issued pursuant to this Agreement. 
The Participant shall, at the request of the Corporation, promptly
present to the Corporation any and all certificates representing shares
acquired pursuant to this Award in the possession of the Participant in order
to carry out the provisions of this Section.

 

12.          MISCELLANEOUS PROVISIONS.

 

12.1        Amendment. 
The Plan Administrator may amend this Agreement at any time; provided,
however, that no such amendment may adversely affect the Participant’s rights
under this Agreement without the consent of the Participant, except to the
extent such amendment is necessary to comply with applicable law, including,
but not limited to, Section 409A of the Code. 
No amendment or addition to this Agreement shall be effective unless in writing.

 

12.2        Nontransferability
of the Award.  Prior to
the issuance of shares of Common Stock on the applicable Settlement Date,
neither this Award nor any Restricted Stock Units subject to this Award shall
be subject in any manner to anticipation, alienation, sale, exchange, transfer,
assignment, pledge, encumbrance, or garnishment by creditors of the Participant
or the Participant’s beneficiary, except transfer by will or by the laws of
descent and distribution.  All rights
with respect to the Award shall be exercisable during the Participant’s
lifetime only by the Participant or the Participant’s guardian or legal
representative.

 

12.3        Further
Instruments.  The
parties hereto agree to execute such further instruments and to take such
further action as may reasonably be necessary to carry out the intent of this
Agreement.

 

12.4        Binding Effect.  This Agreement shall inure to the benefit of
the successors and assigns of the Corporation and, subject to the restrictions
on transfer set forth herein, be binding upon the Participant and the
Participant’s heirs, executors, administrators, successors and assigns.

 

12.5        Notices. 
Any notice required to be given or delivered to the Corporation under
the terms of this Agreement shall be in writing and addressed to the
Corporation at its 

 

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principal
corporate offices.  Any notice required
to be given or delivered to the Participant shall be in writing and addressed
to the Participant at the address indicated below the Participant’s signature
line on the Grant Notice.  All notices
shall be deemed effective upon personal delivery or upon deposit in the U.S.
mail, postage prepaid and properly addressed to the party to be notified.

 

12.6        Integrated Agreement.  The Grant Notice, the Addendum, if any, this
Agreement and the Plan constitute the entire understanding and agreement of the
Participant and the Corporation with respect to the subject matter contained
herein or therein and supersedes any prior agreements, understandings,
restrictions, representations, or warranties among the Participant and the Corporation
with respect to such subject matter other than those as set forth or provided
for herein or therein.  To the extent
contemplated herein or therein, the provisions of the Grant Notice, the
Addendum, if any, and the Agreement shall survive any settlement of the Award
and shall remain in full force and effect.

 

12.7        Applicable Law.  This Agreement shall be governed by the laws
of the State of Texas as such laws are applied to agreements between Texas
residents entered into and to be performed entirely within the State of Texas.

 

12.8        Counterparts.  The Grant Notice may be executed in
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

 

6Exhibit
10.3

 

ADDENDUM

TO

NOTICE OF GRANT OF RESTRICTED STOCK UNITS

AND

RESTRICTED STOCK UNITS AGREEMENT

 

	
  The following provisions are hereby incorporated
  into, and are hereby made a part of, that certain Notice of Grant of 

  
	
  Restricted Stock Units
  (the “Grant Notice”)
  and Restricted Stock Units Agreement (the “Agreement”)
  by and between Silicon 

  
	
  Laboratories Inc. (the“Corporation”) and
  __________ (“Participant”)
  evidencing the Award granted to Participant on ____

  	
   , 

  	
  20 

  	
  ___

  
	
  under the terms of the
  Corporation’s 2000 Stock Incentive Plan (the “Plan”), and such provisions shall be 

  
	
  effective
  immediately. All capitalized terms in this Addendum, to the extent not
  otherwise defined herein, shall have the meanings 

  
	
  assigned
  to them in the Grant Notice, the Agreement or the Plan.

  

 

INVOLUNTARY
TERMINATION FOLLOWING CHANGE IN CONTROL

 

1.             To the extent that the vesting of Restricted Stock Units
subject to the Award is not accelerated effective as of the date of a Change in
Control pursuant to Section 8 of the Agreement, such Restricted Stock Units shall
continue, over Participant’s period of Service after the Change in Control, to vest
and become Vested Units in one or more installments in accordance with the
provisions of the Grant Notice.  However,
immediately upon an Involuntary Termination of Participant’s Service within
eighteen (18) months following such Change in Control, the Award (or any
replacement award), to the extent outstanding at the time but not otherwise
fully vested, shall automatically become vested in full and all Restricted
Stock Units subject to the Award shall be deemed Vested Units.

 

2.             The Award, as accelerated under Paragraph 1 above, shall
be settled in accordance with Section 6 of the Agreement.

 

3.             For purposes of this Addendum, an Involuntary
Termination shall mean the termination of Participant’s Service by
reason of:

 

(i)            Participant’s
involuntary dismissal or discharge by the Corporation for reasons other than
Misconduct, or

 

(ii)           Participant’s
voluntary resignation following (A) a change in Participant’s position with the
Corporation (or Parent or Subsidiary employing Participant) which materially
reduces Participant’s duties and responsibilities or the level of management to
which Participant reports, (B) a reduction in Participant’s level of
compensation (including base salary, fringe benefits and target bonus under any
corporate-performance based bonus or incentive programs) by more than fifteen
percent (15%) or (C) a relocation of Participant’s place of employment by more
than fifty (50) miles, provided and only if such change, reduction or
relocation is effected by the Corporation without Participant’s consent.

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