Document:

Amendment No. 1 to Credit Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 AMENDMENT NO. 1 

Dated as of June 28, 2012 
 to 
 CREDIT AGREEMENT 

Dated as of December 23, 2011 
 THIS AMENDMENT NO. 1 (this “Amendment”) is made as of June 28, 2012 by and among Semiconductor Components Industries, LLC (the “Borrower”), ON Semiconductor
Corporation (“Holdings”), the financial institutions listed on the signature pages hereof (the “Lenders”) and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative Agent”), under
that certain Credit Agreement dated as of December 23, 2011 by and among the Borrower, Holdings, the Lenders and the Administrative Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. 
 WHEREAS, the Borrower and Holdings have requested that the requisite Lenders and the Administrative Agent agree to an amendment to the Credit Agreement; 

WHEREAS, the Borrower, Holdings, the Lenders party hereto and the Administrative Agent have so agreed on the terms and conditions set
forth herein; 
 NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein,
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrower, Holdings, the Lenders party hereto and the Administrative Agent hereby agree to enter into this Amendment. 

1. Amendment to the Credit Agreement. Effective as of the date of satisfaction of the conditions precedent set forth in
Section 2 below, the parties hereto agree that Section 6.06 of the Credit Agreement is hereby amended to (i) delete the word “and” appearing immediately preceding clause (c) thereof and (ii) insert the
phrase “and (d) Swap Agreements in respect of Equity Interests of Holdings, the Borrower or any Restricted Subsidiaries entered into in connection with share repurchase transactions” at the end thereof. 

2. Conditions of Effectiveness. The effectiveness of this Amendment is subject to the conditions precedent that the Administrative
Agent shall have received (i) counterparts of this Amendment duly executed by the Borrower, Holdings, the Required Lenders and the Administrative Agent, (ii) counterparts of the Consent and Reaffirmation attached as Exhibit A hereto
duly executed by the Subsidiary Guarantors and (iii) payment and/or reimbursement of the Administrative Agent’s and its affiliates’ fees and expenses (including, to the extent invoiced, fees and expenses of counsel for the
Administrative Agent) in connection with the Loan Documents. 

 3. Representations and Warranties of the Borrower and Holdings. Each of the Borrower
and Holdings hereby represents and warrants as follows: 
 (a) This Amendment and the Credit Agreement as modified hereby
constitute legal, valid and binding obligations of such Person and are enforceable against such Person in accordance with their terms subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’
rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 (b) As of the date hereof and after giving effect to the terms of this Amendment, (i) no Default or Event of Default shall have occurred and be continuing, and (ii) the representations and
warranties of the Borrower and Holdings set forth in the Credit Agreement are true and correct (i) in the case of the representations and warranties qualified by materiality or Material Adverse Effect, in all respects and (ii) otherwise,
in all material respects as of the date hereof, except in the case of any such representation and warranty that expressly relates to a prior date, in which case such representation and warranty shall be so true and correct on and as of such prior
date. 
 4. Reference to and Effect on the Credit Agreement. 

(a) Upon the effectiveness hereof, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean
and be a reference to the Credit Agreement as amended hereby. 
 (b) Each Loan Document and all other documents, instruments and
agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 
 (c) Except with respect to the subject matter hereof, the execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or
the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the Loan Documents or any other documents, instruments and agreements executed and/or delivered in connection therewith. 

5. Governing Law. This Amendment shall be construed in accordance with and governed by the law of the State of New York.

 6. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose. 
 7. Counterparts. This Amendment may be executed by one or
more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF shall have the same force and effect
as manual signatures delivered in person. 
 [Signature Pages Follow] 

  
 2 

 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written. 
  

			
	 SEMICONDUCTOR COMPONENTS INDUSTRIES, LLC,
 as the Borrower

		
	By:	 	 /s/ DONALD COLVIN

	Name:	 	Donald Colvin
	Title:	 	 Executive Vice President and Chief
 Financial Officer

	
	 ON SEMICONDUCTOR CORPORATION,
 as Holdings

		
	By:	 	 /s/ DONALD COLVIN

	Name:	 	Donald Colvin
	Title:	 	 Executive Vice President and Chief
 Financial Officer

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 JPMORGAN CHASE BANK, N.A.,
 individually as a Lender, as the Swingline Lender, as the Issuing Bank and as Administrative Agent

		
	By:	 	 /s/ GREGORY T. MARTIN

	Name:	 	Gregory T. Martin
	Title:	 	Vice President

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 BANK OF AMERICA, N.A.,
 as a Lender

		
	By:	 	 /s/ DEBRA DELVECCHIO

	Name:	 	Debra Delvecchio
	Title:	 	Managing Director

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 THE ROYAL BANK OF SCOTLAND plc,
 as a Lender

		
	By:	 	 /s/ PATRICIA BOUSSAROQUE

	Name:	 	Patricia Boussaroque
	Title:	 	Vice President

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 SUMITOMO MITSUI BANKING CORPORATION,
 as a Lender

		
	By:	 	 /s/ DAVID W. KEE

	Name:	 	David W. Kee
	Title:	 	Managing Director

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 BOKF, NA d/b/a BANK OF ARIZONA,
 as a Lender

		
	By:	 	 /s/ CHRISTINE NOWACZYK

	Name:	 	Christine Nowaczyk
	Title:	 	Senior Vice President

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 HSBC BANK USA, NATIONAL ASSOCIATION,
 as a Lender

		
	By:	 	 /s/ MIN CHO

	Name:	 	Min Cho
	Title:	 	Assistant Vice President

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 BANK OF MONTREAL,

as a Lender

		
	By:	 	 /s/ MARK MITAL

	Name:	 	Mark Mital
	Title:	 	Sr. Vice President

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 MORGAN STANLEY BANK, N.A.,
 as a Lender

		
	By:	 	 /s/ DANIEL SWEENEY

	Name:	 	Daniel Sweeney
	Title:	 	Authorized Signatory

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

			
	 UBS LOAN FINANCE LLC,
 as a Lender

		
	By:	 	 /s/ MARY E. EVANS

	Name:	 	Mary E. Evans
	Title:	 	Associate Director
		
	By:	 	 /s/ IRJA R. OTSA

	Name:	 	Irja R. Otsa
	Title:	 	Associate Director

  
 Signature
Page to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor Corporation 

 EXHIBIT A 
 Consent and Reaffirmation 
 Each of the undersigned hereby acknowledges
receipt of a copy of the foregoing Amendment No. 1 to the Credit Agreement (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”) by and among Semiconductor
Components Industries, LLC (the “Borrower”), ON Semiconductor Corporation (“Holdings”), the financial institutions listed on the signature pages thereof and JPMorgan Chase Bank, N.A., as Administrative Agent (the
“Administrative Agent”), which Amendment No. 1 is dated as of June 28, 2012 and is by and among the Borrower, Holdings, the financial institutions listed on the signature pages thereof and the Administrative Agent (the
“Amendment”). Capitalized terms used in this Consent and Reaffirmation and not defined herein shall have the meanings given to them in the Credit Agreement. Without in any way establishing a course of dealing by the Administrative
Agent or any Lender, each of the undersigned consents to the Amendment and reaffirms the terms and conditions of the Subsidiary Guaranty and any other Loan Document executed by it and acknowledges and agrees that the Subsidiary Guaranty and each and
every such Loan Document executed by the undersigned in connection with the Credit Agreement remains in full force and effect and is hereby reaffirmed, ratified and confirmed. All references to the Credit Agreement contained in the above-referenced
documents shall be a reference to the Credit Agreement as so modified by the Amendment and as the same may from time to time hereafter be amended, modified or restated. 
 Dated    June 28, 2012 
 [Signature Page Follows]

 IN WITNESS WHEREOF, this Consent and Reaffirmation has been duly executed as of the day and
year above written. 
  

			
	 SCG (CHINA) HOLDING CORPORATION,
 SCG (CZECH) HOLDING CORPORATION,

SCG (MALAYSIA SMP) HOLDING CORPORATION,
 SCG INTERNATIONAL DEVELOPMENT LLC,
 SEMICONDUCTOR COMPONENTS INDUSTRIES

PUERTO RICO, INC.,
 SEMICONDUCTOR COMPONENTS
INDUSTRIES
 OF RHODE ISLAND, INC., and

SEMICONDUCTOR COMPONENTS INDUSTRIES

INTERNATIONAL OF RHODE ISLAND, INC.

		
	By:	 	 /s/ DONALD COLVIN

	Name:	 	Donald Colvin
	Title:	 	Executive Vice President and Chief Financial Officer

  
 Signature
Page to Consent and Reaffirmation to Amendment No. 1 to 
 Credit Agreement dated as of December 23, 2011 

Semiconductor Components Industries, LLC and ON Semiconductor CorporationFirst Amendment to Amended and Restated Stock Incentive Plan

 Exhibit 10.2 
 FIRST AMENDMENT TO THE 
 ON SEMICONDUCTOR CORPORATION 

AMENDED AND RESTATED 
 STOCK INCENTIVE PLAN 
 ON Semiconductor Corporation, a Delaware corporation
(the “Company”), previously established the ON Semiconductor Corporation 2000 Stock Incentive Plan, which was most recently amended and restated in its entirety effective as of March 23, 2010 by the adoption of the On Semiconductor
Corporation Amended and Restated Stock Incentive Plan (the “Plan”). The Plan was approved by the Company’s shareholders at the Company’s 2010 Annual Meeting. By adoption of this instrument, the Company desires to amend the Plan
to increase the total number of shares of stock available for grant under the Plan by 33,000,000. 
 1. This First Amendment
shall be effective as of the date on which it is approved by the Company’s shareholders at the Company’s 2012 Annual Meeting. 
 2. The first sentence of Section 5.1 (Stock Subject to the Plan – Number of Shares) of the Plan is hereby amended and restated in its entirety to read as follows: 

5.1 Number of Shares. Subject to Section 5.2 and 5.3, the total number of shares of Stock subject to
all Awards under the Plan shall be fifty nine million one hundred thousand (59,100,000), plus the number of shares of Stock subject to Awards that were previously granted pursuant to the 2000 Plan that again become available for the grant of an
Award pursuant to Section 5.2 after February 17, 2010, less the number of shares of Stock subject to outstanding Awards made under the Plan since March 23, 2010 that have not terminated, expired, lapsed or been paid in cash.

 3. The last sentence of Section 5.1 (Stock Subject to the Plan – Number of Shares) of the Plan is hereby
amended and restated in its entirety to read as follows: 
 The difference between such number and the basic award pool of twenty
six million one hundred thousand (26,100,000) that was initially approved by the Company’s shareholders at the Company’s 2010 Annual Meeting was cancelled and never became available for grant pursuant to the Plan. 

 4. This First Amendment shall supersede the provisions of the Plan to the extent those
provisions are inconsistent with the provisions and intent of this First Amendment. 
 IN WITNESS WHEREOF, the Company has
caused this First Amendment to be executed as of this 15th day of May, 2012. 
  

			
	ON SEMICONDUCTOR CORPORATION
		
	By:	 	 /s/ JUDITH A. BOYLE

		 	Judith A. Boyle
	Its:	 	Assistant Secretary

  
 2

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