Document:

RESTRICTED STOCK AWARD AGREEMENT

 Exhibit 10.33 
  
 Gideon Argov 
 Name of Employee (“Employee”) 
  
 MYRKOLIS
CORPORATION 
 2001 EQUITY INCENTIVE PLAN 
  
 Restricted Stock Award Agreement 
  
 Mykrolis Corporation 
 129 Concord Road 
 Billerica, MA 018211 
  
 Attn: Ms. Sharon Pinto, V.P. Human Resources 
  
 Ladies and Gentlemen: 
  
 In consideration of services
rendered by Employee to Mykrolis Corporation (the “Company”) the undersigned Employee: (i) acknowledges that Employee has received an award (the “Award”) of restricted stock from the Company under the 2001 Equity Incentive Plan
(the “Plan”), subject to the terms set forth below and to the terms of the Plan; (ii) further acknowledges receipt of a copy of the Plan as in effect on the effective date hereof; and (iii) agrees with the Company as follows: 

 

	 	1.	Effective Date. This Agreement shall take effect as of November 21, 2004, which is the date of grant of the Award. 

  

	 	2.	Shares Subject to Award. The Award consists of 50,000 shares (the “Shares”) of the Common Stock, $0.01 par value, of the Company (“Stock”). The
undersigned’s rights to the Shares are subject to the restrictions described in this Agreement and in the Plan (which is incorporated herein by reference with the same effect as if set forth herein in full) in addition to such other
restrictions, if any, as may be imposed by law. 

  

	 	3.	Meaning of Certain Terms. Except as otherwise expressly provided, all terms used herein shall have the same meaning as in the Plan. The term “vest” as used
herein with respect to any Share means the lapsing of the restrictions described herein with respect to such Share. 

  

	 	4.	Nontransferability of Shares. The Shares acquired by the undersigned pursuant to this Agreement shall not be sold, transferred, pledged, assigned or otherwise
encumbered or disposed of except as provided below and in the Plan. 

  

	 	5.	Forfeiture Risk. If the undersigned ceases to be employed by the Company and its subsidiaries for any reason, including death, any then outstanding and unvested Shares
acquired by the undersigned hereunder shall be automatically and immediately forfeited. The undersigned hereby: (i) appoints the Company as the attorney-in-fact of the undersigned to take such actions as may be necessary or appropriate to effectuate
a transfer of the record ownership of any such shares that are unvested and forfeited hereunder; (ii) agrees to deliver to the Company, as a precondition to the issuance of any certificate or certificates with respect to unvested Shares hereunder,
one or more stock powers, endorsed in blank, with respect to such Shares; and (iii) agrees to sign such other powers and take such other actions as the Company may reasonably request to accomplish the transfer or forfeiture of any unvested Shares
that are forfeited hereunder. 

  

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	 	6.	Retention of Certificates. Any certificates representing unvested Shares shall be held by the Company. If unvested Shares are held in book entry form, the undersigned
agrees that the Company may give stop transfer instructions to the depository to ensure compliance with the provisions hereof. 

  

	 	7.	Vesting of Shares. The Shares acquired hereunder shall vest in accordance with the provisions of this Paragraph 7 and applicable provisions of the Plan, as follows:

  
 12,500 Shares on and after November 21, 2005;

  
 an additional 12,500 Shares on and after November 21, 2006;

  
 an additional 12,500 Shares on and after November 21, 2007;
and. 
  
 the final 12,500 Shares on and after November 21, 2008.

  
 Notwithstanding the foregoing, no Shares shall vest on any
vesting date specified above unless the undersigned is then, and since the date of grant has continuously been, employed by the Company or its subsidiaries. In the event of a Covered Transaction, the Administrator may require that any amounts
delivered, exchanged or otherwise paid in respect of outstanding and then unvested Shares be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent of the Plan. References in
this Agreement to the Shares shall refer, mutatis mutandis, to any such restricted amounts. 
  

	 	8.	Legend. Any certificates representing unvested Shares shall be held by the Company, and any such certificate shall contain a legend substantially in the following
form: 

  
 THE TRANSFERABILITY OF THIS CERTIFICATE AND THE SHARES OF
STOCK REPRESENTED HEREBY ARE SUBJECT TO THE TERMS AND CONDITIONS (INCLUDING FORFEITURE) OF THE MYKROLIS CORPORATION 2001 EQUITY INCENTIVE PLAN AND A RESTRICTED STOCK AWARD AGREEMENT ENTERED INTO BETWEEN THE REGISTERED OWNER AND MYKROLIS CORPORATION.
COPIES OF SUCH PLAN AND AGREEMENT ARE ON FILE IN THE OFFICES OF MYKROLIS CORPORATION. 
  
 As soon as practicable following the vesting of any such Shares the Company shall cause a certificate or certificates covering such Shares, without the aforesaid legend, to be issued and delivered to the undersigned.
If any Shares are held in book-entry form, the Company may take such steps as it deems necessary or appropriate to record and manifest the restrictions applicable to such Shares. 
  

	 	9.	Dividends, etc. The undersigned shall be entitled to (i) receive any and all dividends or other distributions paid with respect to those Shares of which Employee is
the record owner on the record date for such dividend or other distribution, and (ii) vote any Shares of which Employee is the record owner on the record date for such vote; provided, however, that any property or right (other than cash)
distributed with respect to a share of Stock (the “associated share”) acquired hereunder, including without limitation a distribution of Stock by reason of a stock dividend, stock split or otherwise, or a distribution of other securities
with respect to an associated share, shall be subject to the restrictions of this Agreement in the same manner and for so long as the associated share remains subject to such restrictions, and shall be 

  

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 promptly forfeited if and when the associated share is so forfeited; and further provided, that
the Administrator may require that any cash distribution with respect to the Shares other than a normal cash dividend be placed in escrow or otherwise made subject to such restrictions as the Administrator deems appropriate to carry out the intent
of the Plan. References in this Agreement to the Shares shall refer, mutatis mutandis, to any such restricted amounts. 
  

	 	10.	Sale of Vested Shares. The undersigned understands that Employee will be free to sell any Share once it has vested, subject to (i) satisfaction of any applicable tax
withholding requirements with respect to the vesting or transfer of such Share; (ii) the completion of any administrative steps (for example, but without limitation, the transfer of certificates) that the Company may reasonably impose; and (iii)
applicable requirements of federal and state securities laws. 

  

	 	11.	Certain Tax Matters. The undersigned expressly acknowledges the following: 

  

	 	a.	The undersigned has been advised to confer promptly with a professional tax advisor to consider whether the undersigned should make a so-called “83(b) election” with
respect to the Shares. Any such election, to be effective, must be made in accordance with applicable regulations and within thirty (30) days following the date of this Award. The Company has made no recommendation to the undersigned with respect to
the advisability of making such an election. 

  

	 	b.	The award or vesting of the Shares acquired hereunder, and the payment of dividends with respect to such Shares, may give rise to “wages” subject to withholding. The
undersigned expressly acknowledges and agrees that Employee’s rights hereunder are subject to Employee promptly paying to the Company in cash (or by such other means as may be acceptable to the Company in its discretion, including, if the
Administrator so determines, by the delivery of previously acquired Stock or shares of Stock acquired hereunder in accordance with the Plan or by the withholding of amounts from any payment hereunder) all taxes required to be withheld in connection
with such award, vesting or payment. 

  

	
	Very truly yours,
	
	 /s/ Gideon Argov

	(Signature of Employee)

  
 Dated: November 21, 2004

  
 The foregoing Restricted Stock 
 Award Agreement is hereby accepted: 
 MYKROLIS CORPORATION 
  

			
	By	 	 /s/ Sharon Pinto

	 	 	V.P. Human Resources

  

 Exhibit Volume Page 11 of 84LETTER AGREEMENT, DATED NOVEMBER 19, 2004

 Exhibit 10.34 
  
 November 19, 2004 
  

Mr. C. William Zadel 
 9 North Bay Road 
 Osterville, MA 02655 
  
 Dear Bill: 
  
 You have advised the Board of Directors of Mykrolis Corporation (“Mykrolis”) that you plan to retire as Chief Executive Officer and Chairman of
the Board of Directors. The Mykrolis Board of Directors wishes to clarify the timing of your retirement and to assure your successor that you will be available to advise and consult with him as well as with the Board when and as needed. This letter
is to specify the terms and conditions surrounding your retirement from those positions and of your continued employment by Mykrolis. 
  
 1. Retirement from Current Positions. You will retire as Chief Executive Officer of Mykrolis immediately prior to the election of your
successor by the Board of Directors. You will continue to serve as a Class III Director and as Chairman of the Board until December 31, 2004 on which date you will resign from both positions. You agree that, effective January 1, 2005, the Executive
Termination Agreement, dated October 19, 2001 and the Indemnification Agreement, dated April 1, 2001, in each case between you and Mykrolis shall terminate and shall be of no further force or effect with respect to periods after that date. You agree
to resign from all positions that you hold with Mykrolis subsidiaries. 
  
 2. Current Compensation. Your current base salary will continue through December 31, 2004, at which time it will terminate. As an employee at year end, you will be eligible to receive an award under the Mykrolis Incentive Plan
(“MIP”) for fiscal year 2004, based on your 2004 compensation in accordance with the terms of the MIP and the discretion of the Board. You will also be eligible under the Mykrolis Savings and Investment Plan to participate in employer
matching contributions through December 31, 2004 as well as to share in the allocation of the employer discretionary profit sharing contribution for 2004 in accordance with the terms of that plan. 
  
 3. Stock Options. Effective December 31, 2004, you agree to
forfeit the options to purchase Mykrolis Common Stock covering an aggregate of 176,603 shares which remain unvested as of that date. You shall retain all options to purchase Mykrolis Common Stock which are vested as of that date. Upon your
retirement from employment in the position described in paragraph 4 below at age 62 or greater and 10 years of service, you will be entitled to the special exercise period specified in the grant agreements with respect to your vested options.

  
 4. Continued Employment; Duties. Mykrolis agrees
to continue to employ you as C.E.O. Emeritus and you agree to accept this position. In this new position your duties shall be to provide such consultation and advice with respect to past business strategies and future strategic
direction of Mykrolis as the Chief Executive Officer and the Chairman of the Board of Directors may, from time to time, direct and to perform such other duties consistent with your status as a former chief executive officer of Mykrolis as either of
them may specify. In the performance of your duties hereunder, 
  

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 you will report to and will serve under the direction and control of the Chairman of the Board and will be subject to all
of the employment policies, rules and regulations of Mykrolis as from time to time in effect. As an employee you agree to comply with the Mykrolis Code of Conduct in the performance of your duties hereunder. You agree to travel to Mykrolis’s
headquarters or other location as necessary to perform services hereunder requested by the Chief Executive Officer or the Chairman of the Board. You agree to address matters assigned to you hereunder in the priority with which they are assigned and
to submit oral or written reports concerning your work on a routine basis. For the duration of the new employment period specified in paragraph 5 below: (i) your Mykrolis email box and access through the Mykrolis firewall to MYKONLINETM shall be continued; and (ii) you shall be
entitled to continue to use your Mykrolis laptop computer for the performance of your duties for Mykrolis. At the termination of your employment under this Agreement, you agree to return the laptop computer in good condition, normal wear and tear
excepted. In addition Mykrolis will provide you with an office in its Billerica Headquarters when and as needed and will hire such assistants as may be necessary and appropriate to support the performance of your duties hereunder. You shall have the
right, without affecting your compensation or status as an employee hereunder, to accept employment with any other person or corporation, so long as: (A) such employment does not interfere with the performance of your duties hereunder or
otherwise give rise to a conflict of interest; and (B) such employment is not in a business competitive with the business of Mykrolis and will not cause you to violate the provisions of paragraphs 8 or 9 below. 
  
 5. New Employment Period. Your employment as C.E.O. Emeritus
will commence January 1, 2005 and will continue through April 30, 2006, unless extended by mutual agreement. 
  
 6. Compensation in New Position; Expenses. As C.E.O. Emeritus you will be paid a base salary at the rate of Forty Thousand Dollars
($40,000.00) per year, payable bi-weekly. Federal and State taxes will, of course, be withheld from your bi-weekly payments and you will be issued a Form W-2 each year. During your employment hereunder you shall be authorized to incur necessary and
reasonable travel and other business expenses in connection with your duties hereunder. Mykrolis shall reimburse you for such expenses upon presentation of an itemized account and appropriate supporting documentation, all in accordance with
Mykrolis’s travel reimbursement policies as from time to time in effect. 
  
 7. Benefits. Through December 31, 2004, you shall continue to be eligible for those benefits provided by Mykrolis to its regular full time employees. From and after January 1, 2005, it is anticipated
that you will be a limited part time employee and, as such, not eligible to continue participation in the Mykrolis benefit plans other than at your cost through COBRA. You shall be eligible to continue to participate in the Mykrolis Savings and
Investment Plan to the extent that you meet the annual service threshold requirements. Your participation in the Mykrolis Incentive Plan shall be at a 20% level at target performance and shall be prorated in accordance with the procedures applicable
to part time employees; as is the case with all senior executive participants, awards to you under the MIP shall be at the discretion of the Mykrolis Board of Directors. To the extent that you meet the eligibility requirements specified in the
respective Mykrolis benefit plans, you shall be entitled to participate in those benefit plans on the same basis as other part time employees with comparable hours of work. 
  

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 8. Covenant not to Compete. During the employment period specified above, you agree that
you will not promote, participate or engage in any business on behalf of any Direct Competitor of Mykrolis, whether you are acting as owner, partner, stockholder, employee, broker, agent, principal, trustee, corporate officer, director, consultant
or in any other capacity whatsoever; provided, however, that this will not prevent you from holding for investment up to 1% of any class of stock or other securities quoted or dealt in on a recognized stock exchange. For
purposes of this paragraph, a “Direct Competitor of Mykrolis” means any person engaged in the sale of: (i) liquid and gas delivery subsystems, components and consumable products used to measure, deliver, control and purify the
process liquids, gases and chemicals, as well as the deionized water and photoresists that are used in the semiconductor manufacturing process; or (ii) other related products, such as flat panel displays, high purity chemicals, photoresists,
solar cells, gas lasers, optical and magnetic storage devices and fiber optic cables. You also agree that during the employment period specified above you will not take any action to interfere, directly or indirectly, with the goodwill of Mykrolis,
or (iii) induce or attempt to induce any person doing business with Mykrolis to cease doing business with Mykrolis; or (iv) solicit or entice away any director, officer or employee of Mykrolis. 
  
 9. Disclosure of Information. You acknowledge that as a result
of your employment by Mykrolis, you have been and will continue to make use of, acquire, and/or add to confidential information of special and unique nature and value relating to such matters as Mykrolis’s trade secrets, systems, procedures,
manuals, product formulas, cost information and price determination procedures, confidential reports and lists of customers, long and mid range strategic plans, acquisition targets, and other confidential and proprietary information. You hereby
covenant and agree that you shall not, at any time during or following the term of your employment by Mykrolis, directly or indirectly, divulge or disclose, for any purpose whatsoever, any of such confidential information which has been obtained by
or disclosed to you as a result of your employment by Mykrolis and that you will use such information only for the benefit of Mykrolis in connection with the performance of your duties hereunder. 
  
 10. Special Relief. In the event of a breach or threatened
breach by you of any of the provisions of Paragraphs 8 or 9, Mykrolis, in addition to and not in limitation of any other rights, remedies, or damages available to it at law or in equity, shall be entitled to preliminary and permanent injunctive
relief in order to prevent or to restrain any such breach by you. 
  
 11. Termination. Mykrolis shall be entitled to terminate your employment hereunder by written notice in the event of: (i) your death; (ii) the breach by you of any material provision of this agreement;
(iii) your willful misconduct in connection with your duties hereunder; (iv) the commission by you of any act of fraud against Mykrolis or your conviction of a felony (other than a felony related to motor vehicle laws). You shall be
entitled to terminate your employment hereunder at any time, with or without cause, by written notice to Mykrolis. 
  

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 12. Miscellaneous. This Agreement: (i) shall be governed by and construed in
accordance with the laws (other than the laws governing conflict of law questions) of the Commonwealth of Massachusetts; (ii) may be amended or modified only by written instrument signed by the party against whom enforcement is sought;
(iii) shall be binding upon and inure to the benefit of you, your heirs and distributees, and Mykrolis, its successors and assigns. (iv) sets forth the entire agreement between the parties hereto with respect to the subject matter
hereof and supersedes all prior agreements and understandings; (v) is a contract for personal services and may not be assigned or transferred by you. 
  
 Bill, on behalf of the Mykrolis Board of Directors, I would like to thank you for your service to the Board and to Mykrolis. We look forward to working
with you in your new position. If the terms and conditions specified in this letter are acceptable to you, kindly countersign the enclosed copy of this letter and deliver it to Mykrolis’s General Counsel, Peter W. Walcott. 
  
 Very truly yours, 
  

	
	 /s/ Michael P.C. Carns

	MICHAEL P.C. CARNS
	CHAIRMAN
	MANAGEMENT DEVELOPMENT & COMPENSATION COMMITTEE

  

	
	Agreed and Accepted:
	
	 /s/ C. William Zadel

	C. William Zadel

  

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