Document:

Exhibit 10.1

 

August 28,
2008

 

Dear
Peter:

 

On
behalf of Acme Packet, Inc. it is with great pleasure that we offer you
the position of Chief Financial Officer and Treasurer reporting to me, the
undersigned, in my capacity as the Chief Executive Officer of the Company.  We believe you will make a major contribution
to Acme Packet, Inc. and we are pleased to formally offer you this
position.

 

Compensation: Your base salary will be $250,000 annually,
earned and paid at the rate of $9,615.39 bi-weekly. In addition, beginning January 1,
2009 you will be eligible to participate in our 2009 Management Bonus Plan that
will provide you with an annualized bonus opportunity equal to 50% of your base
salary.

 

Stock
Options: The Company
is offering you options to purchase shares of the Company, as governed by the Acme
Packet 2006 Equity Incentive Plan.  You
will receive 300,000 Non-statutory stock options, vesting over 4 years, with
the first installment vesting on the first anniversary of your start date and
on a quarterly basis thereafter, until all of the Shares are fully vested. The
exercise price per share of your options will be equal to the fair market value
of the shares as of the close of business on the date the Board of Directors
designates as the pricing date of your grant.

 

Acceleration of Vesting: In the event a Sale of the Company
Transaction occurs, then the vesting of an appropriate number of those options
that are outstanding immediately prior to such Sale of the Company Transaction
and that have not already previously vested shall be accelerated such that
fifty percent (50%) of such Unvested options shall be fully vested upon the
occurrence of such Sale of the Company Transaction.

 

In
the event that, at any time following a Sale of the Company Transaction, (i) you
voluntarily terminate your employment with the Company following any relocation
(without your written consent) by the Company to a location that increases your
commute prior to such relocation by more than fifty miles, (ii) you suffer
any material adverse change in authorities, duties or responsibilities or (iii) the
Company terminates your employment with the Company for any reason or no reason
(other than Cause), then the vesting of all options that are then outstanding
and that have not already previously vested shall be accelerated such that all
of such options shall be fully vested on the effective date of such termination
by the Company or you, as the case may be.

 

Vacation: You will be entitled to three weeks paid
vacation annually accrued at a rate of 4.616 hours bi-weekly.

 

 

Benefits:
We are pleased to offer you medical insurance provided by Blue Cross Blue
Shield and dental insurance provided by Benedent.  In addition, we are offering Life Insurance, Short-Term
Disability, Long-Term Disability, and Accidental Death and Dismemberment.  We also offer a 401(k) plan through ADP
Retirement Services and JP Morgan Chase Bank. 
These benefits are subject to revision and change at the Company’s
discretion.

 

Prior to commencing your
employment with the Company, you agree to sign a copy of the Company’s standard
Employee Confidentiality, Inventions and Non-Competition Agreement, as well as an
Employment Eligibility form (I-9 form) and any other legal documents that the
Company requires its employees to sign.

 

You acknowledge that the
employment relationship between the Company and you is at-will, meaning that
the employment relationship may be terminated by the Company or you for any
reason or for no reason.  In making this
offer, the Company understands that you are not under any obligation to any
former employer or any other person, firm or corporation which would prevent,
limit or impair in any way the performance by you of your duties as an employee
of the Company.

 

This offer can be accepted by
countersigning the letter where indicated and faxing it to Human Resources at
the confidential efax number               .

 

Peter, I am very excited to
have you join us, and I look forward to a mutually beneficial relationship.  Your knowledge and previous experience will
bring a significant contribution to Acme Packet at this stage of its growth.

 

Sincerely,

 

 

	
  /S/ Andrew
  Ory

  	
   

  

Andrew Ory

Chief Executive Officer

Acme Packet, Inc.

 

I hereby acknowledge that I
have had a full and adequate opportunity to read, understand and discuss the
terms and conditions contained in this letter agreement prior to signing
hereunder.

 

 

	
    /S/
  Peter Minihane

  	
   

  	
  8/29/08

  
	
  Peter
  Minihane

  	
   

  	
  DateExhibit 10.1

 

INDEMNIFICATION AGREEMENT

 

This
INDEMNIFICATION AGREEMENT (“Agreement”) is made on
                      ,
20    , between MICROSEMI CORPORATION, a Delaware
corporation (the “Company”), and
                                
(“Indemnitee”), an officer and/or member of the Board of Directors of the
Company.

 

WHEREAS,
Indemnitee has been selected to serve or is currently serving as a director or
officer of the Company and in such capacity is expected to render or has
rendered valuable services to the Company;

 

WHEREAS,
the Company has investigated the availability and sufficiency of liability
insurance and Delaware statutory indemnification provisions to provide its
directors and officers with adequate protection against various legal risks and
potential liabilities to which directors and officers are subject due to their
position with the Company and has concluded that insurance and statutory
provisions may provide inadequate and unacceptable protection to certain
individuals requested to serve as its directors and officers; and

 

WHEREAS,
in recognition of past services and in order to induce and encourage highly
experienced and capable persons such as Indemnitee to serve as directors or
officers of the Company, the Board of Directors has determined, after due
consideration and investigation of the terms and provisions of this Agreement
and the various other options available to the Company and Indemnitee in lieu
of this Agreement, that this Agreement is not only reasonable and prudent, but
necessary to promote and ensure the best interests of the Company and its
stockholders.

 

NOW,
THEREFORE, in consideration of the mutual agreements herein contained, the
parties agree as follows:

 

1.                                       Definitions.  As used
in this Agreement:

 

(a)           A “Change
in Control” shall be deemed to have occurred if (i) any “person” (as that
term is used in Sections 13(d) and 14(d) of the Exchange Act), other
than a trustee or other fiduciary holding securities under an employee benefit
plan of the Company or a corporation owned directly or indirectly by the
stockholders of the Company in substantially the same proportions as their
ownership of shares of the Company, is or becomes the “beneficial owner” (as
defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of
securities of the Company representing twenty percent (20%) or more of the
total voting power represented by the Company’s then outstanding voting
securities, or (ii) during any period of two consecutive years,
individuals (“Continuing Directors”) who at the beginning of the two year
period constitute the Board of Directors of the Company or whose election by
the Board of Directors or nomination for election by the Company’s stockholders
was approved by a vote of at least two-thirds (2/3) of the directors then still
in office who either were directors at the beginning of the period or whose
election or nomination for election was previously so approved, cease for any
reason to constitute a majority of the Board of Directors, or (iii) the
stockholders of the Company approve a merger or consolidation of the Company
with any other 

 

1

 

company, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately
prior to such a merger or consolidation continuing to represent (either by
remaining outstanding or by being converted into voting securities of the
surviving entity) at least eighty percent (80%) of the total voting power
represented by the voting securities of the Company or the surviving entity
outstanding immediately after the merger or consolidation, or (iv) the
stockholders of the Company approve a plan of complete liquidation of the
Company or an agreement for the sale or disposition by the Company (in one
transaction or a series of transactions) of all or substantially all the
Company’s assets.

 

(b)           “Corporate
Status” describes the status of a person who is or was a director, officer,
employee or agent of the Company or of any other corporation, partnership or
joint venture, trust, employee benefit plan or other enterprise which such
person is or was serving at the request of the Company.

 

(c)           “Disinterested
Director” means a director of the Company who is not and was not a party to the
Proceeding in respect of which indemnification is sought by Indemnitee.

 

(d)           “Enterprise”
shall mean the Company and any other corporation, partnership, joint venture,
trust, employee benefit plan or other enterprise of which Indemnitee is or was
serving at the express written request of the Company as a director, officer,
employee, agent or fiduciary.

 

(e)           “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(f)            “Indemnifiable
Expenses” shall include all reasonable attorneys’ fees, retainers, court costs,
transcript costs, fees of experts, witness fees, travel expenses, duplicating
costs, printing and binding costs, telephone charges, postage, delivery service
fees, and all other disbursements or expenses of the types customarily incurred
in connection with prosecuting, defending, preparing to prosecute or defend,
investigating, being or preparing to be a witness in, or otherwise
participating in, a Proceeding. 
Indemnifiable Expenses shall also include any of the foregoing expenses
incurred in connection with any appeal resulting from any Proceeding, including
without limitation the premium, security for, and other costs relating to any
cost, bond, supersedes bond, or other appeal bond or its equivalent.  Indemnifiable Expenses, however, shall not
include amounts paid in settlement by Indemnitee or the amounts of judgments,
penalties or fines against Indemnitee.

 

(g)           “Independent
Legal Counsel” means a law firm, or a member of a law firm, that is experienced
in the matters of corporation law and neither presently is, nor in the past
five years has been, retained to represent: 
(i) the Company or Indemnitee in any matter material to either such
party (other than with respect to matters concerning Indemnitee under this
Agreement, or of other indemnitees under similar indemnification agreements);
or (ii) any other party to the Proceeding giving rise to a claim for
indemnification hereunder. 
Notwithstanding the foregoing, the term “Independent Legal Counsel”
shall not include any person who, under the applicable standards of
professional conduct then prevailing, would have a conflict of interest in
representing either the Company or Indemnitee in an action to determine
Indemnitee’s rights under this Agreement. 
The Company agrees to pay the reasonable fees and expenses of the
Independent Legal Counsel referred to above and to fully indemnify such counsel
against any 

 

2

 

and all Indemnifiable Expenses, claims, liabilities
and damages arising out of or relating to this Agreement or its engagement
pursuant thereto.

 

(h)           “Proceeding”
shall include any threatened, pending or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative
hearing or any other actual, threatened or completed proceeding, whether
brought in the right of the Company or otherwise and whether of a civil,
criminal, administrative or investigative nature, in which Indemnitee was, is
or will be involved as a party or otherwise by reason of the fact that
Indemnitee is or was a director or officer of the Company, by reason of any
action taken by Indemnitee or of any action on Indemnitee’s part while acting
as a director or officer of the Company, or by reason of the fact that
Indemnitee is or was serving at the request of the Company as a director,
officer, employee or agent of another corporation, partnership, joint venture,
trust or other enterprise, in each case whether or not serving in such capacity
at the time any liability or expense is incurred for which indemnification,
reimbursement or advancement of expenses can be provided under this Agreement;
except one initiated by Indemnitee to enforce Indemnitee’s rights under this
Agreement.

 

(i)            References
to “other enterprise” shall include employee benefits plans; references to “fines”
shall include any excise tax assessed with respect to any employee benefit
plan; references to “serving at the request of the Company” shall include any
service as a director, officer, employee or agent of the Company which imposes
duties on, or involves services by, such director, officer, employee or agent
with respect to an employee benefit plan, its participants or beneficiaries;
and a person who acted in good faith and in a manner he or she reasonably
believed to be in the best interests of the participants and beneficiaries of
an employee benefit plan shall be deemed to have acted in a manner “not opposed
to the best interests of the Company” as referred to in this Agreement.

 

2.                                       Indemnification. 
Indemnitee shall be indemnified and held harmless by the Company to the
fullest extent permitted by its Certificate of Incorporation, Bylaws, the
Delaware General Corporation Law (the “DGCL”) and other applicable law.  In furtherance of the foregoing
indemnification, and without limiting the generality thereof:

 

(a)           Proceedings
Other than Proceedings by or in the Right of the Company.  The Company shall indemnify Indemnitee in
accordance with the provisions of this Section 2(a) if, by reason of
Indemnitee’s Corporate Status, Indemnitee is, or is threatened to be made, a
party to or a participant in any Proceeding, other than a Proceeding by or in
the right of the Company.  Pursuant to
this Section 2(a), Indemnitee shall be indemnified against all
Indemnifiable Expenses, judgments, penalties, fines and amounts paid in
settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf in connection with such Proceeding or any claim, issue or matter
therein, if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the bests interests of the
Company and, in the case of a criminal proceeding, had no reasonable cause to
believe such conduct was unlawful.

 

(b)           Proceedings
by or in the Right of the Company. 
The Company shall indemnify Indemnitee in accordance with the provisions
of this Section 2(b) if, by reason of Indemnitee’s Corporate Status,
Indemnitee is, or is threatened to be made, a party to or a participant in any
Proceeding brought by or in the right of the Company.  Pursuant to this Section 2(b),

 

3

 

Indemnitee shall be indemnified against all
Indemnifiable Expenses actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection with such Proceeding or any claim, issue or
matter therein, if Indemnitee acted in good faith and in a manner Indemnitee
reasonably believed to be in or not opposed to the best interests of the
Company.  No indemnification against such
Indemnifiable Expenses shall be made under this Section 2(b) in
respect of any claim, issue or matter as to which Indemnitee shall have been
finally adjudged by a court to be liable to the Company, unless and only to the
extent that the Delaware Court of Chancery or any court in which the Proceeding
was brought shall determine upon application that, despite the adjudication of
liability but in view of all the circumstances of the case, Indemnitee is
fairly and reasonably entitled to indemnification.

 

3.                                       Exclusions. 
Notwithstanding any provision in this Agreement, the Company shall not
be obligated to make any indemnity or advancement of Indemnifiable Expenses
under this Agreement with respect to:

 

(a)           expenses
and the payment of profits arising from the purchase and sale (or sale and purchase)
by Indemnitee of securities in violation of Section 16(b) of the
Exchange Act, or similar provisions of state statutory law or common law; or

 

(b)           any
Proceeding (or any part of any Proceeding) initiated by Indemnitee, including
any Proceeding (or any part of any Proceeding) initiated by Indemnitee against
the Company or its directors, officers, employees or other indemnitees but
excluding any Proceeding brought to establish or enforce a right to
indemnification under this Agreement (which shall be governed by the provisions
of Section 17 of this Agreement), unless the Board of Directors authorized
the Proceeding (or any part of the Proceeding) prior to its initiation.

 

4.                                       Partial Indemnity; Successful Defense.  If Indemnitee is entitled under any provision
of this Agreement to indemnification by the Company for some portion of the
Indemnifiable Expenses, judgments, fines, penalties and amounts paid in
settlement actually and reasonably incurred by Indemnitee in the investigation,
defense, appeal or settlement of any Proceeding, but not, however, for the
total amount thereof, the Company shall nevertheless indemnify Indemnitee for
the portion of such Indemnifiable Expenses, judgments, fines, penalties and
amounts paid in settlement to which Indemnitee is entitled.  Moreover, notwithstanding any other provision
of this Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s
Corporate Status, a party to (or a participant in) and is successful, on the
merits or otherwise, in any Proceeding or in defense of any claim, issue or
matter therein, in whole or in part, the Company shall indemnify Indemnitee
against all Indemnifiable Expenses actually and reasonably incurred by
Indemnitee in connection therewith.  If
Indemnitee is not wholly successful in such Proceeding but is successful, on
the merits or otherwise, as to one or more but less than all claims, issues or
matters in such Proceeding, the Company shall indemnify Indemnitee against all
Indemnifiable Expenses actually and reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection with each successfully resolved claim, issue
or matter.  For purposes of this Section and
without limitation, the termination of any claims, issue or matter in such a
Proceeding by dismissal, with or without prejudice, shall be deemed to be a
successful result as to such claim, issue or matter.

 

4

 

5.                                       Indemnification for Indemnifiable Expenses of a Witness.  Notwithstanding any other provisions of this
Agreement, to the extent that Indemnitee is, by reason of Indemnitee’s
Corporate Status, a witness in any Proceeding to which Indemnitee is not a
party, Indemnitee shall be indemnified against all Indemnifiable Expenses
actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in
connection therewith.

 

6.                                       Advancement of Expenses. 
The Company agrees to pay Indemnifiable Expenses incurred by Indemnitee
in connection with any Proceeding in advance of the final disposition thereof,
provided that the Company has received an undertaking by or on behalf of
Indemnitee to repay the amount so paid to the extent that it is ultimately
determined that Indemnitee is not entitled to be indemnified by the Company
under this Agreement or otherwise, and provided further that the Company shall
not be required to make any such payment to the extent expressly prohibited by
law.  The expenses to be paid by the
Company hereunder shall be paid by the Company as soon as practicable and
within thirty (30) days following delivery of a written request therefor by
Indemnitee to the Company.

 

7.                                       Procedure for Making Demand.

 

(a)           To
obtain indemnification under this Agreement, Indemnitee shall give the Company
notice in writing as soon as practicable of any claim for which indemnification
is sought under this Agreement, including therein or therewith such
documentation and information as is reasonably available to Indemnitee and is
reasonably necessary to determine whether and to what extent Indemnitee is
entitled to indemnification.  The
omission to so notify the Company will not relieve the Company from any
liability which it may have to Indemnitee otherwise than under this
Agreement.  The Secretary of the Company
shall, promptly upon receipt of such request for indemnification, advise the
Board of Directors in writing that Indemnitee has requested indemnification.

 

(b)           No
later than twenty-five (25) days after receipt of the written request of
Indemnitee, the Company shall determine whether indemnification is proper under
this Agreement and applicable law as follows: (i) if a Change in Control
shall have occurred, by Independent Legal Counsel in a written opinion to the
Board of Directors, a copy of which shall be delivered to Indemnitee; or (ii) if
a Change in Control shall not have occurred, (A) by a majority vote of the
members of the Disinterested Directors, even though less than a quorum, or (B) by
a committee of such Disinterested Directors designated by majority vote of such
Disinterested Directors, even though less than a quorum, or (C) if there
are no such Disinterested Directors, or if such Disinterested Directors so
direct, by Independent Legal Counsel in a written opinion to the Board of
Directors, a copy of which shall be delivered to Indemnitee, or (D) if so
directed by the Board of Directors, by the stockholders of the Company, and if
it is determined that indemnification is proper then indemnification shall be
made within five (5) days after such determination.  Indemnitee shall cooperate with the person,
persons or entity making such determination with respect to Indemnitee’s
entitlement to indemnification, including providing to such person, persons or
entity upon reasonable advance request any documentation or information which
is not privileged or otherwise protected from disclosure and which is
reasonably available to Indemnitee and reasonably necessary to such
determination.  Any costs or expenses
(including attorneys’ fees and disbursements) incurred by Indemnitee in so
cooperating with the person, persons or entity making such determination shall
be borne by the 

 

5

 

Company (irrespective of the determination as to
Indemnitee’s entitlement to indemnification) and the Company hereby indemnifies
and agrees to hold Indemnitee harmless therefrom.

 

(c)           In
the event the determination of entitlement to indemnification is to be made by
Independent Legal Counsel pursuant to Section 7(b) hereof, the
Independent Legal Counsel shall be selected as provided in this Section 7(c).  If a Change in Control shall not have
occurred, the Independent Legal Counsel shall be selected by the Board of
Directors, and the Company shall give written notice to Indemnitee advising him
or her of the identity of the Independent Legal Counsel so selected.  If a Change in Control shall have occurred,
the Independent Legal Counsel shall be selected by Indemnitee (unless
Indemnitee shall request that such selection be made by the Board of Directors,
in which event the preceding sentence shall apply), and Indemnitee shall give
written notice to the Company advising it of the identity of the Independent
Legal Counsel so selected.  In either
event, the Indemnitee or the Company, as the case may be, may, within seven (7) days
after such written notice of selection shall have been given, deliver to the
Company or to Indemnitee, as the case may be, a written objection to such
selection.  Such objection may be
asserted only on the ground that the Independent Legal Counsel so selected does
not meet the requirements of “Independent Legal Counsel” as defined in Section 1
of this Agreement, and the objection shall set forth with particularity the
factual basis of such assertion.  Absent
a proper and timely objection, the person so selected shall act as Independent
Legal Counsel.  If such written objection
is made, the Independent Legal Counsel so selected may not serve as Independent
Legal Counsel unless and until such objection is withdrawn or the Court of
Chancery of the State of Delaware or other court of competent jurisdiction has
determined that such objection is without merit.  If, within 20 days after the later of the
submission by Indemnitee of a written request for indemnification pursuant to Section 7(a) hereof
and the disposition of the Proceeding, including any appeal therein, no
Independent Legal Counsel shall have been selected and not objected to, either
the Company or Indemnitee may petition the Court of Chancery of the State of
Delaware or other court of competent jurisdiction for resolution of any objection
which shall have been made by the Company or Indemnitee to the other’s
selection of Independent Legal Counsel and/or for the appointment as
Independent Legal Counsel of a person selected by the Court or by such other
person as the Court shall designate, and the person with respect to whom an
objection is so resolved or the person so appointed shall act as Independent
Legal Counsel under Section 7(b) hereof.  The Company shall pay any and all reasonable
fees and expenses of Independent Legal Counsel incurred by such Independent
Legal Counsel in connection with acting pursuant to Section 7(b) hereof,
and the Company shall pay all reasonable fees and expenses incident to the
procedures of this Section 7(c), regardless of the manner in which such
Independent Legal Counsel was selected or appointed.  Upon the due commencement of any judicial
proceeding pursuant to Section 9(b) of this Agreement, Independent
Legal Counsel shall be discharged and relieved of any further responsibility in
such capacity (subject to the applicable standards of professional conduct then
prevailing).

 

8.                                       Presumptions and Effect of Certain Proceedings.

 

(a)           In
making a determination with respect to entitlement to indemnification
hereunder, the person or persons or entity making such determination shall
presume that Indemnitee is entitled to indemnification under this Agreement if
Indemnitee has submitted a request for indemnification in accordance with Section 7(a) of
this Agreement, and the Company shall have the burden of proof to overcome that
presumption in connection with the making by 

 

6

 

any person, persons or entity of any determination
contrary to that presumption.  Neither
the failure of the Company (including by its directors, Independent Legal
Counsel or its stockholders) to have made a determination prior to the
commencement of any action pursuant to this Agreement that indemnification is
proper in the circumstances because Indemnitee has met the applicable standard
of conduct, nor an actual determination by the Company (including by its
directors, Independent Legal Counsel or its stockholders) that Indemnitee has
not met such applicable standard of conduct, shall be a defense to the action
or create a presumption that Indemnitee has not met the applicable standard of
conduct.

 

(b)           The
termination of any Proceeding or of any claim, issue or matter therein, by
judgment, order, settlement or conviction, or upon a plea of nolo contendere or
its equivalent, shall not (except as otherwise expressly provided in this
Agreement) of itself adversely affect the right of Indemnitee to
indemnification or create a presumption that Indemnitee did not act in good
faith and in a manner which Indemnitee reasonably believed to be in or not opposed
to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that his or her
conduct was unlawful.

 

(c)           For
purposes of any determination of good faith, Indemnitee shall be deemed to have
acted in good faith if Indemnitee’s action is based on the records or books of
account of the Enterprise, including financial statements, or on information
supplied to Indemnitee by the officers of the Enterprise in the course of their
duties, or on the advice of legal counsel for the Enterprise or on information
or records given or reports made to the Enterprise by an independent certified
public accountant or by an appraiser or other expert selected with reasonable
care by the Enterprise.  The provisions
in this Section 8(c) shall not be deemed to be exclusive or to limit
in any way the other circumstances in which Indemnitee may be deemed to have
met the applicable standard of conduct set forth in this Agreement.

 

(d)           The
knowledge and/or actions, or failure to act, of any director, officer, agent or
employee of the Enterprise shall not be imputed to Indemnitee for purposes of
determining the right to indemnification under this Agreement.

 

(e)           The
Company acknowledges that a settlement or other disposition short of final
judgment may be successful if it permits a party to avoid expense, delay,
distraction, disruption and uncertainty. 
In the event that any Proceeding to which Indemnitee is a party is
resolved in any manner other than by adverse judgment against Indemnitee
(including, without limitation, settlement of such Proceeding with or without
payment of money or other consideration), it shall be presumed that Indemnitee
has been successful on the merits or otherwise in such Proceeding.  Anyone seeking to overcome this presumption
shall have the burden of proof.

 

9.                                       Failure to Indemnify.

 

(a)           If
the person, persons or entity empowered or selected under Section 7 to
determine whether Indemnitee is entitled to indemnification shall not have made
a determination within twenty-five (25) days after receipt by the Company of
the request therefor, the requisite determination of entitlement to
indemnification shall be deemed to have been made and Indemnitee shall be
entitled to such indemnification, absent (i) a misstatement by Indemnitee
of 

 

7

 

a material fact, or an omission of a material fact
necessary to make Indemnitee’s statement not materially misleading, in
connection with the request for indemnification, or (ii) a prohibition of
such indemnification under applicable law; provided, however, that the
foregoing provisions of this Section 9(a) shall not apply if (i) the
determination of entitlement to indemnification is to be made by the
stockholders pursuant to Section 7(b) of this Agreement and if (A) within
fifteen (15) days after receipt by the Company of the request for such
determination, the Board of Directors or the Disinterested Directors, if
appropriate, resolve to submit such determination to the stockholders for their
consideration at an annual meeting thereof to be held within seventy five (75)
days after such receipt and such determination is made thereat, or (B) a
special meeting of stockholders is called within fifteen (15) days after such
receipt for the purpose of making such determination and such meeting is held
for such purpose within sixty (60) days after having been so called and such
determination is made thereat, or (ii) if the determination of entitlement
to indemnification is to be made by Independent Legal Counsel pursuant to Section 7(b) of
this Agreement and such determination is made by Independent Legal Counsel
within twenty-five (25) days of the selection of such Independent Legal Counsel
pursuant to Section 7(c) of this Agreement.

 

(b)           In
the event that (i) a determination is made pursuant to Section 7 of
this Agreement that Indemnitee is not entitled to indemnification under this
Agreement, (ii) advancement of Indemnifiable Expenses is not timely made
pursuant to Section 6 of this Agreement, (iii) no determination of
entitlement to indemnification shall have been made pursuant to Section 7(b) of
this Agreement within twenty-five (25) days after receipt by the Company of the
request for indemnification (or such longer period as is permitted by Section 9(a) if
the determination is to be made by the stockholders of the Company or by
Independent Legal Counsel), (iv) payment of indemnification is not made
pursuant to Section 5 or the last sentence of Section 7(b) within
five (5) days after receipt by the Company of a written request therefor,
or (v) payment of indemnification is not made pursuant to Sections 2 and 4
of this Agreement within five (5) days after a determination has been made
that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to
an adjudication by a court in the State of Delaware, or in any other court of
competent jurisdiction, of Indemnitee’s entitlement to such indemnification or
advancement of Indemnifiable Expenses. 
Indemnitee shall commence such proceeding seeking an adjudication within
180 days following the date on which Indemnitee first has the right to commence
such proceeding pursuant to this Section 9(b).  The Company shall not oppose Indemnitee’s
right to seek any such adjudication.

 

(c)           In
the event that a determination shall have been made pursuant to Section 7(b) of
this Agreement that Indemnitee is not entitled to indemnification, any judicial
proceeding commenced pursuant to this Section 9 shall be conducted in all
respects as a de novo trial on the merits and Indemnitee shall not be
prejudiced by reason of that adverse determination.  In any judicial proceeding commenced pursuant
to this Section 9, the Company shall have the burden of proving Indemnitee
is not entitled to indemnification or advancement of Indemnifiable Expenses, as
the case may be.

 

(d)           If
a determination shall have been made pursuant to Section 7(b) of this
Agreement that Indemnitee is entitled to indemnification, the Company shall be
bound by such determination in any judicial proceeding commenced pursuant to
this Section 9, absent (i) a misstatement by Indemnitee of a material
fact, or an omission of a material fact necessary to 

 

8

 

make Indemnitee’s statement not materially misleading,
in connection with the request for indemnification, or (ii) a prohibition
of such indemnification under applicable law.

 

(e)           The
Company shall be precluded from asserting in any judicial proceeding commenced
pursuant to this Section 9 that the procedures and presumptions of this
Agreement are not valid, binding and enforceable and shall stipulate in any
such court that the Company is bound by all the provisions of this Agreement.

 

10.                                 Notice to Insurers; Subrogation.  If, at the time of the receipt of a notice of
a claim pursuant to Section 7 hereof, the Company has director and/or
officer liability insurance in effect, the Company shall give prompt notice of
the commencement of such Proceeding to the insurers in accordance with the procedures
set forth in the respective policies. 
The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a
result of such Proceeding in accordance with the terms of such policies.  Any other provision herein to the contrary
notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement to indemnify Indemnitee for Indemnifiable Expenses or advance
any Indemnifiable Expenses to the extent such expenses or liabilities have been
actually received by Indemnitee by an insurance carrier under a policy of
officers’ and directors’ or similar liability insurance maintained by the
Company, contract, agreement or otherwise. 
In addition, in the event of any payment under this Agreement, the
Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who shall execute all papers required and take all
action necessary to secure such rights, including execution of such documents
as are necessary to enable the Company to bring suit to enforce such rights.

 

11.                                 Retention of Counsel. 
In the event that the Company shall be obligated to pay Indemnifiable
Expenses as a result of any Proceeding against Indemnitee, the Company, if
appropriate, shall be entitled to assume the defense of such Proceeding, with
counsel approved by Indemnitee, which approval shall not be unreasonably
withheld, upon the delivery to Indemnitee of written notice of its election to
do so.  After delivery of such notice,
approval of such counsel by Indemnitee and the retention of such counsel by the
Company, the Company will not be liable to Indemnitee under this Agreement for
any fees of counsel subsequently incurred by that Indemnitee with respect to
that same Proceeding, provided that (i) Indemnitee shall have the right to
employ Indemnitee’s own counsel in any such Proceeding at Indemnitee’s expense,
and (ii) if (A) the employment of counsel by Indemnitee has been
previously authorized by the Company, (B) Indemnitee shall have reasonably
concluded that there may be a conflict of interest between the Company and
Indemnitee in the conduct of any such defense, or (C) the Company shall
not, in fact, have employed counsel to assume defense of such Proceeding, then
the fees and expenses of Indemnitee’s counsel shall be at the expense of the
Company.  The Company shall not be
entitled to assume the defense of any Proceeding as to which Indemnitee shall
have reasonably made the conclusion provided for in (B) above.  The Company shall not be liable to indemnify
Indemnitee under this Agreement for any amounts paid in settlement of any
action or claim effected without its prior written consent.  Neither the Company nor Indemnitee will
unreasonably withhold its or his or her consent to any proposed
settlement.  The Company shall not be
obligated pursuant to the provisions of this Agreement to provide counsel,
indemnify or advance expenses to Indemnitee with respect to proceedings or
other claims initiated or brought voluntarily by Indemnitee and not by way of
defense, except with respect to proceedings 

 

9

 

brought to establish or enforce a right to
indemnification under this Agreement or any other statute or law or otherwise
as required under Section 145 of the DGCL.

 

12.                                 Survival; Successors. 
This Agreement establishes contract rights which shall continue
indefinitely as to Indemnitee during the entire period Indemnitee is an officer
or director of the Company (or is or was serving at the request of the Company
as a director, officer, employee or agent of another Enterprise) and continuing
after Indemnitee ceases to be a director, officer, employee or agent of the
Company whether or not Indemnitee was then subject to any Proceeding. This
Agreement shall be binding upon, and shall inure to the benefit of, the
successors, assigns, heirs and legal representatives of the parties
hereto.  The Company shall require and
cause any successor (whether direct or indirect by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company, by written agreement in form and substance reasonably
satisfactory to Indemnitee, expressly to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be
required to perform if no such succession had taken place.

 

13.                                 Mutual Acknowledgment. 
Both the Company and Indemnitee acknowledge that in certain instances,
Federal or Delaware law or applicable public policy may prohibit the Company
from indemnifying its directors and officers under this Agreement or
otherwise.  Indemnitee understands and
acknowledges that the Company may be required in the future to undertake to the
Securities and Exchange Commission to submit the question of indemnification to
a court in certain circumstances for a determination of the Company’s right
under public policy to indemnify Indemnitee, and, in that event, the Indemnitee’s
rights and the Company’s obligations hereunder shall be subject to that
determination.

 

14.                                 Additional Indemnification Rights; Contract Rights Not Exclusive.  The contract rights conferred by this
Agreement shall be in addition to, but not exclusive of, any other right which
Indemnitee may have or may hereafter acquire under any statute, provision of
the Company’s Certificate of Incorporation or Bylaws, agreement, vote of
stockholders or Disinterested Directors, or otherwise.  Notwithstanding any other provision of this
Agreement, the Company hereby agrees to indemnify Indemnitee against all
Indemnifiable Expenses, judgments, penalties, fines and amounts paid in
settlement actually and reasonably incurred by Indemnitee or on Indemnitee’s
behalf if, by reason of Indemnitee’s Corporate Status, Indemnitee is, or is
threatened to be made, a party to or participant in any Proceeding (including a
Proceeding by or in the right of the Company), including, without limitation,
all liability arising out of the negligence or active or passive wrongdoing of
Indemnitee.  The only limitation that
shall exist upon the Company’s obligations pursuant to this Agreement shall be
that the Company shall not be obligated to make any payment to Indemnitee that
is finally determined (under the procedures, and subject to the presumptions,
set forth in Sections 7 and 8 hereof) to be unlawful under Delaware law.  No amendment, alteration or repeal of this
Agreement or of any provision hereof shall limit or restrict any right of
Indemnitee under this Agreement in respect of any action taken or omitted by
such Indemnitee in his Corporate Status prior to such amendment, alteration or
repeal.  No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every
other right or remedy hereunder, or otherwise, shall be cumulative and in
addition to every other right or remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. 
The assertion of employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any
other right or remedy.

 

10

 

15.                                 Indemnitee’s Obligations. 
The Indemnitee shall reasonably promptly advise the Company in writing
of the institution of any Proceeding which is or may be subject to this
Agreement and keep the Company generally informed of, and consult with the
Company with respect to, the status of any such Proceeding, including by
promptly notifying the Company in writing upon being served with any summons,
citation, subpoena, complaint, indictment, information or other document
relating to any Proceeding or matter which may be subject to indemnification or
advancement of Indemnifiable Expenses covered hereunder.  The failure of Indemnitee to so notify the
Company shall not relieve the Company of any obligation which it may have to
Indemnitee under this Agreement.

 

16.                                 Notices.  All notices,
requests, demands and other communications under this Agreement shall be in
writing and shall be deemed to have been duly given (i) if delivered by
hand and receipted for by the party to whom said notice or other communication
shall have been directed, or (ii) mailed by certified or registered mail
with postage prepaid on the third business day after the date on which it is so
mailed:

 

(a)           If
to Indemnitee, to the address set forth below Indemnitee’s signature hereto.

 

(b)           If
to the Company, to Microsemi Corporation, 2381 Morse Avenue, Irvine, California
92614, Attn: Chief Executive Officer.

 

or to
such other address as the Company or Indemnitee shall designate in writing to
Indemnitee or the Company, as the case may be.

 

17.                                 Attorneys’ Fees.  In
the event that any action is instituted by Indemnitee under Section 9 of
this Agreement to seek a judicial adjudication to enforce or interpret any of
the terms hereof, or to recover damages for breach of, this Agreement,
Indemnitee shall be entitled to be paid all court costs and expenses, including
reasonable attorneys’ fees, incurred by Indemnitee with respect to such action,
unless as a part of such action, a court of competent jurisdiction determines
that each of the material assertions made by Indemnitee as a basis for such
action were not made in good faith or were frivolous.

 

18.                                 Supersedes Prior Agreements. 
This Agreement supersedes any Indemnification Agreement of similar scope
and content previously entered into between the Company and Indemnitee (the “Prior
Agreement”), and any such Prior Agreement is hereby cancelled and
extinguished.  Notwithstanding anything
to the contrary herein, the protections afforded by this Agreement shall be
deemed to be effective as of the first date of service of Indemnitee as a
director or officer of the Company.

 

19.                                 Severability.  Should
any provision of this Agreement, or any clause hereof, be held to be invalid,
illegal or unenforceable, in whole or in part, the remaining provisions and
clauses of this Agreement shall remain fully enforceable and binding on the
parties.

 

20.                                 Modification and Waiver. 
No supplement, modification or amendment of this Agreement shall be
binding unless executed in writing by both of the parties hereto.  No waiver of any of the provisions of this
Agreement shall be deemed or shall constitute a waiver of any 

 

11

 

other provisions hereof (whether of not similar) nor
shall such waiver constitute a continuing waiver.

 

21.                                 Choice of Law.  The
validity, interpretation, performance and enforcement of this Agreement shall
be governed by and construed in accordance with the laws of the State of
Delaware.  In the event of any change,
after the date of this Agreement, in any applicable law, statute, or rule that
expands the right of a Delaware corporation to indemnify a member of its board
of directors or an officer, such changes shall be deemed to be within the
purview of Indemnitee’s rights and the Company’s obligations under this
Agreement.  In the event of any change in
any applicable law, statute or rule which narrows the right of a Delaware
corporation to indemnify a member of its board of directors or an officer, such
changes, to the extent not otherwise required by such law, statute or rule to
be applied to this Agreement, shall have no effect on this Agreement or the
parties’ rights and obligations hereunder.

 

22.                                 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. 
Only one such counterpart signed by the party against whom
enforceability is sought needs to be produced to evidence the existence of this
Agreement.

 

[Signature
page follows.]

 

12

 

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

 

	
   

  	
  MICROSEMI CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
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  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  INDEMNITEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Address:

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
					

 

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