Document:

ppbi_8k-salary2008ex103.htm

    
      

      

    

     

    
      

      

    

    Exhibit
      10.3

    
      

      EMPLOYMENT
        AGREEMENT

      

      EMPLOYMENT
        AGREEMENT (“Agreement”) dated this 19th
        day of December
        2007, by and between Edward Wilcox (the “Executive”) and Pacific Premier Bank
        (the “Bank” or the “Employer”).

       

      WITNESSETH

      

      WHEREAS,
        the Employer desires to assure themselves of the services of the
        Executive for the period provided in this Agreement, and the Executive is
        willing to serve in the employ of the Employer for such period, all in
        accordance with the terms and conditions contained in this
        Agreement.

       

      NOW,
        THEREFORE, in consideration of the mutual covenants herein set forth,
        Executive and the Employer do agree to the terms of employment as
        follows:

       

      1.           Definitions.  The
        following words and terms shall have the meanings set forth below for the
        purposes of this Agreement:

       

      (a)           Affiliate.  Affiliate
        of any person or entity means any stockholder or person or entity controlling,
        controlled by or under common control with such person or entity, or any
        director, officer or key executive of such entity or any of their respective
        relatives. For purposes of this definition, “control,” when used with respect to
        any person or entity, means the power to direct the management and policies
        of
        such person or entity, directly or indirectly, whether through ownership
        of
        voting securities, by contracting or otherwise; and the terms “controlling” and
“controlled” have meanings that correspond to the foregoing.

       

      (b)           Base
        Salary.  “Base Salary” shall have the meaning set forth in
        Section 3 (a) hereof.

       

      (c)           Cause.
        Termination of the Executive’s employment for “Cause” shall mean
        termination because of personal dishonesty or incompetence, willful misconduct,
        breach of fiduciary duty involving personal profit, intentional failure to
        perform stated duties, willful violation of any law, rule or regulation (other
        than traffic violations or other misdemeanor offenses) or final cease-and-desist
        order or material breach of any provision of this Agreement.

       

      (d)           Change
        in Control.  “Change in Control” shall mean the occurrence of
        any of the following events subsequent to the date of this Agreement: (i)
        the
        acquisition of control of Pacific Premier Bancorp, Inc. (the “Company”) or the
        Bank as defined in the rules and regulations of the applicable banking
        regulators on the date hereof (provided that in applying the definition of
        Change in Control as set forth under the rules and regulations of the applicable
        banking regulators, the Board of Directors of Employer shall substitute its
        judgment for that of the applicable banking regulators); (ii) an event that
        would be required to be reported in response to Item 5.01(a) of the Current
        Report on Form 8-K pursuant to Sections 13 or 15(d) of the Securities Exchange
        Act of 1934, as amended (“Exchange Act”), or any successor thereto, whether or
        not any class of securities of the Company is registered under the Exchange
        Act;
        (iii) any “person” (as such term is used in Sections 13(d) and 14(d) of the
        Exchange Act), after the date hereof, other than a trustee or other fiduciary
        holding securities under an employee benefit plan of the Company or any
        Affiliate 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 25% or more of the combined voting power of the Company’s
        or the Bank’s then outstanding securities; (iv) the sale or other disposition of
        all or substantially all of the assets of the Company or the Bank or the
        transfer by the Company or the Bank of greater than 25% of the voting securities
        of the Company or the Bank; or (v) during any period of three consecutive
        years,
        individuals who at the beginning of such period constitute the Board of
        Directors of the Company or the Bank cease for any reason to constitute at
        least
        a majority thereof, unless the election, or the nomination for election by
        stockholders, of each new director was approved by a vote of at least two-thirds
        of the directors then still in office who were directors at the beginning
        of the
        period.

       

      (e)           Code.  “Code”
        shall mean the Internal Revenue Code of 1986, as amended.

       

      (f)           Confidential
        and Proprietary Information. “Confidential and Proprietary Information”
shall mean any and all (i) confidential or proprietary information
        or material
        not in the public domain about or relating to the business, operations, assets
        or financial condition of the Employer or any Affiliate of the Employer or
        any
        of the Employer’s or any such Affiliate’s trade secrets; and (ii) information,
        documentation or material not in the public domain by virtue of any action
        by or
        on the part of the Executive, the knowledge of which gives or may give the
        Employer or any Affiliate of the Employer an advantage over any person not
        possessing such information. For purposes hereof, the term Confidential and
        Proprietary Information shall not include any information or material (i)
        that
        is known to the general public other than due to a breach of this Agreement
        by
        the Executive or (ii) was disclosed to the Executive by a person who the
        Executive did not reasonably believe was bound to a confidentiality or similar
        agreement with the Employer.

       

      (g)           Date
        of Termination. “Date of Termination” shall mean (i) if the Executive’s
        employment is terminated for Cause or for Disability, the date specified
        in the
        Notice of Termination, and (ii) if the Executive’s employment is terminated for
        any other reason, the date on which a Notice of Termination is given or as
        specified in such Notice.

       

      (h)           Disability.
        Termination by the Employer of the Executive’s employment based on
“Disability” shall mean termination because of any physical or mental impairment
        which qualifies the Executive for disability benefits under the applicable
        long-term disability plan maintained by the Bank or, if no such plan applies,
        which would qualify the Executive for disability benefits under the Federal
        Social Security System.

       

      (i)           Good
        Reason. Termination by the Executive of the Executive’s employment for
“Good Reason” shall mean termination by the Executive following a Change in
        Control based on:

       

      
        	
                 

              	
                (i)

              	
                Without
                  the Executive’s express written consent, a material adverse change made by
                  the Employer which would reduce the Executive’s functions, duties or
                  responsibilities as Executive Vice President and Chief Banking
                  Officer of
                  the Bank.

              

      

       

      
        	
                 

              	
                (ii)

              	
                Without
                  the Executive’s express written consent, a material reduction by the
                  Employer in the Executive’s Base Salary as the same may be increased from
                  time to time; or

              

      

       

      
        	
                 

              	
                (iii)

              	
                Without
                  the Executive’s express written consent, the Employer requires the
                  Executive to be based at a location more than 50 miles from Costa
                  Mesa,
                  California (which requirement shall be deemed to be a material
                  change in
                  the geographic location at which the Executive must perform services
                  for
                  the Bank), except for required travel on business of the Employer
                  to an
                  extent substantially consistent with the Executive’s present business
                  travel obligations.

              

      

       

      (j)           IRS.  IRS
        shall mean the Internal Revenue Service.

       

      (k)           Notice
        of Termination. Any purported termination of the Executive’s employment
        by the Employer for any reason including, without limitation, for Cause or
        Disability, or by the Executive for any reason including, without limitation,
        for Good Reason, shall be communicated by written “Notice of Termination” to the
        other party or parties hereto. For purposes of this Agreement, a “Notice of
        Termination” shall mean a dated notice which (i) indicates the specific
        termination provision in this Agreement relied upon, (ii) sets forth in
        reasonable detail the facts and circumstances claimed to provide a basis
        for
        termination of Executive’s employment under the provision so indicated, (iii)
        specifies a Date of Termination, which shall be not less than thirty (30)
        nor
        more than ninety (90) days after such Notice of Termination is given, except
        in
        the case of the Bank’s termination of Executive’s employment for Cause, which
        shall be effective immediately; and (iv) is given in the manner specified
        in
        Section 14 hereof.

       

      (l)           Separation
        from Service.  Whether a Separation from Service takes place
        is determined based on the facts and circumstances surrounding the termination
        of the Executive’s employment and whether the Employer and the Executive
        intended for the Executive to provide significant services for the Employer
        following such termination.  A termination of employment will not be
        considered a Separation from Service if:

       

      
        	
                 

              	
                (i)

              	
                the
                  Executive continues to provide services as an employee of the Employer
                  at
                  an annual rate that is twenty percent or more of the services rendered,
                  on
                  average, during the immediately preceding three full calendar years
                  of
                  employment and the annual remuneration for such services is twenty
                  percent
                  (20%) or more of the average annual remuneration earned during
                  the final
                  three full calendar years of employment,
                  or

              

      

       

      
        	
                 

              	
                (ii)

              	
                the
                  Executive continues to provide services to the Employer in a capacity
                  other than as an employee of the Employer at an annual rate that
                  is twenty
                  percent or more of the services rendered, on average, during the
                  immediately preceding three full calendar years of employment and
                  the
                  average annual remuneration earned during the final three full
                  calendar
                  years of employment.

              

      

       

      (m)           Specified
        Employee.  Pursuant to Code Section 409A, a Specified
        Employee shall mean a key employee (as defined in Section 416(i) of the Code
        without regard to paragraph 5 thereof) of the Employer if any stock of the
        Company is publicly traded on an established securities market or
        otherwise.

       

      2.           Term
        of Employment.

       

      (a)           The
        Bank hereby employs the Executive as Executive Vice President and Chief Banking
        Officer of the Bank, and the Executive hereby accepts said employment and
        agrees
        to render such services to the Employer, on the terms and conditions set
        forth
        in this Agreement.  The term of employment under this Agreement shall
        be for a term of three years, commencing on the date of this Agreement, unless
        such term is extended as provided in this Section 2.  On the annual
        anniversary of the date first above written and each annual anniversary
        thereafter, the term of this Agreement shall automatically be extended for
        an
        additional one-year without the need for notification to be given by the
        Board
        of Directors of the Employer of its approval of such extension.  If
        either the Executive on the one hand, or the Bank on the other hand, gives
        written notice to the other party or parties hereto of such party’s or parties’
election not to extend the term, with such notice to be given not less than
        ninety (90) days prior to any such anniversary date, then this Agreement
        shall
        terminate at the conclusion of its remaining term. References herein to the
        “Term of Employment” shall refer both to the initial term and successive
        terms.

       

      (b)           During
        the Term of Employment, the Executive shall perform such executive services
        for
        the Employer as may be consistent with Executive’s titles and such executive
        services which are from time to time assigned to Executive by the Employer’s
        Board of Directors.  The Executive shall devote Executive’s entire
        business time, attention, skill and energy exclusively to the business of
        the
        Employer.  The Executive shall not engage or prepare to engage in any
        other business activity, whether or not such business activity is pursued
        for
        gain, profit or other economic or financial advantage; provided, however,
        that
        the Executive may engage in appropriate civic, charitable or religious
        activities and devote a reasonable amount of time to private investments
        or
        boards or other activities provided that such activities do not interfere
        or
        conflict with the Executive’s responsibilities and are not or not likely to be
        contrary to the Employer interests

       

      3.           Compensation
        and Benefits.

       

      (a)           The
        Employer shall compensate and pay the Executive for services during the term
        of
        this Agreement at a minimum base salary of $215,000 per
        year (“Base Salary”), which may be increased from time to time in such amounts
        as may be determined by the Board of Directors of the Employer and may not
        be
        decreased without the Executive’s express written consent.  The
        Executive’s Base Salary shall be paid in periodic installments (not less than
        monthly) in accordance with the general payroll practices of the Employer,
        as in
        effect from time-to-time.

       

      (b)           During
        the term of this Agreement, the Executive shall be entitled to participate
        in
        and receive the benefits of any pension or other retirement benefit plan,
        profit
        sharing, stock option, employee stock ownership, or other plans, benefits
        and
        privileges given to employees and executives of the Bank (or the Company
        to the
        extent it pertains to the Company’s common stock or options to acquire its
        common stock), to the extent commensurate with Executive’s then duties and
        responsibilities as fixed by the Board of Directors of the
        Employer.

       

      (c)           Executive
        shall be entitled to receive all benefits and conditions of employment generally
        available to other executives of Employer, including, without limitation,
        sick
        leave, disability, accident, life, hospitalization, medical and dental
        insurance, paid holidays, and participation in any pension, profit sharing
        or
        other retirement plan pursuant to the terms of said plans.

       

      (d)           Executive
        shall accrue paid vacation at the rate of three weeks per year and paid sick
        leave at the rate of two hours per pay period.  Except as stated
        herein, the terms and conditions of Executive’s vacation and sick pay shall be
        governed by Employer’s Employee Handbook, as amended from
        time-to-time.  The Executive shall not be entitled to receive any
        additional compensation from the Employer for failure to take a vacation,
        nor
        shall the Executive be able to accumulate unused vacation time from one year
        to
        the next, except to the extent authorized by the Board of Directors of the
        Employer.

       

      (e)           Executive
        shall be eligible for a discretionary performance bonus not to exceed 100%
        of
        Executive’s Base Salary, based on individual performance and overall performance
        of the Employer.  The criteria for determining eligibility and the
        amount of any bonus shall be in the discretion of the Compensation Committee
        of
        the Employer’s Board of Directors.  Such bonus, if any, shall be paid
        between January 1 and March 15 following the year during which performance
        is
        measured.

       

      (f)           During
        the term of this Agreement.  Executive shall receive a monthly car
        allowance of $500.

       

      (g)           The
        Executive shall be required to obtain a physical examination not less than
        annually during the Term of Employment which shall be paid for by
        Employer.

       

      4.           Expenses.
        The Employer shall reimburse the Executive or otherwise provide for or pay
        for
        all reasonable expenses incurred by the Executive in furtherance of or in
        connection with the business of the Employer, including, but not by way of
        limitation, traveling expenses, subject to such reasonable documentation
        and
        other limitations as may be established by the Board of Directors of the
        Employer. If such expenses are paid in the first instance by the Executive,
        the
        Employer shall reimburse the Executive therefore.

       

      5.           Termination.

       

      (a)           The
        Employer shall have the right, at any time upon prior Notice of Termination,
        to
        terminate the Executive’s employment hereunder for any reason, including,
        without limitation, termination for Cause or Disability, and the Executive
        shall
        have the right, upon prior Notice of Termination, to terminate Executive’s
        employment hereunder for any reason.

       

      (b)           In
        the event that (i) the Executive’s employment is terminated by the Bank for
        Cause, (ii) the Executive dies or (iii) the Executive terminates his employment
        hereunder other than for Disability or Good Reason, the Executive shall have
        no
        right pursuant to this Agreement to compensation or other benefits for any
        period after the applicable Date of Termination or death other than for Base
        Salary accrued through the Date of Termination or death.

       

      (c)           In
        the event that the Executive’s employment is terminated as a result of
        Disability during the term of this Agreement, the Executive shall receive
        the
        lesser of (i) Executive’s existing Base Salary as in effect as of the Date of
        Termination, multiplied by one year or (ii) Executive’s Base Salary for the
        duration of the Term of Employment.  In the event of the Executive’s
        death during the term of this Agreement, the Executive’s estate shall receive
        the lesser of (i) Executive’s existing Base Salary as in effect as of the date
        of Executive’s death, multiplied by one year or (ii) Executive’s Base Salary
        through the end of the Term of Employment.  Payment pursuant to this
        Subsection (c) shall be paid to the Executive or Executive’s estate within sixty
        (60) days after the Date of Termination.

       

      (d)           In
        the event that the Executive’s employment is terminated (i) by the Employer for
        other than Cause, Disability, or the Executive’s death or (ii) by the Executive
        (a) due to a material breach of this Agreement by the Employer, or (b) for
        Good
        Reason, then the Employer shall, subject to Section 6 hereof, if applicable,
        provide the benefits described in subparagraph (A) of this Section
        6(d).  Such a termination shall be deemed an involuntary termination
        if the breach or Good Reason basis for termination has not been cured within
        thirty (30) business days after a written notice of non-compliance has been
        given by the Executive to the Employer, such written notice has been given
        no
        more than ninety (90) days after the initial occurrence of the breach or
        the
        Good Reason basis for termination, and the termination occurs within two
        (2)
        years following the initial occurrence of the breach or the Good Reason basis
        for termination.

       

      (A)           Pay
        to the Executive a cash severance amount equal to the Executive’s Base Salary as
        in effect immediately prior to the Date of
        Termination, plus his incentive bonus for the previous
        year, less taxes and other required withholding (“Severance
        Pay”).  Such Severance Pay shall be paid in a lump sum on the first
        business day of the month following the Date of
        Termination.  Nothwithstanding the foregoing, no such Severance Pay
        will be paid to Executive unless the Executive has undergone a Separation
        from
        Service.

       

      (e)           In
        receiving any payments pursuant to this Section 5, the Executive shall not
        be
        obligated to seek other employment or take any other action by way of mitigation
        of the amounts payable to the Executive hereunder, and such amounts shall
        not be
        reduced or terminated whether or not the Executive obtains other
        employment.

       

      (f)           Restrictions
        on Timing of Distribution.  Notwithstanding
        any provision of this Agreement to the contrary, if Executive is a Specified
        Employee on the Date of Termination and, as a result thereof, Section 409A
        of
        the Code and the rules promulgated thereunder would so require, payments
        pursuant to Subsection (d) of this Section 5 may not commence earlier than
        six
        (6) months after the Date of Termination.  Therefore, in the event
        this Subsection (f) is applicable, the payment required pursuant to Subsection
        (d) of this Section 5 shall be paid in a lump sum on the first day of the
        seventh month following the Date of Termination.

       

      6.           Limitation
        of Benefits under Certain Circumstances. If the payments and benefits
        pursuant to Section 5 hereof, either alone or together with other payments
        and
        benefits which the Executive has the right to receive from the Employer,
        would
        constitute a “parachute payment” under Section 280G of the Code, the payments
        and benefits payable by the Employer pursuant to Section 5 hereof shall be
        reduced, in the manner determined by the Executive, by the amount, if any,
        which
        is the minimum necessary to result in no portion of the payments and benefits
        payable by the Employer under Section 5 being non-deductible to the Employer
        pursuant to Section 280G of the Code and subject to the excise tax imposed
        under
        Section 4999 of the Code. The determination of any reduction in the payments
        and
        benefits to be made pursuant to Section 5 shall be based upon the opinion
        of
        independent counsel selected by the Employer’s independent public accountants
        and paid by the Employer. Such counsel shall be reasonably acceptable to
        the
        Employer and the Executive; shall promptly prepare the foregoing opinion,
        but in
        no event later than thirty (30) days from the Date of Termination; and may
        use
        such actuaries as such counsel deems necessary or advisable for the purpose.
        Nothing contained herein shall result in a reduction of any payments or benefits
        to which the Executive may be entitled upon termination of employment under
        any
        circumstances other than as specified in this Section 6, or a reduction in
        the
        payments and benefits specified in Section 5 below zero.

       

      7.           Restrictions
        Respecting Confidential Information and Non-Solicitation

       

      (a)           The
        Executive acknowledges and agrees that by virtue of the Executive’s position and
        involvement with the business and affairs of the Employer, the Executive
        will
        develop substantial expertise and knowledge with respect to all aspects of
        the
        Employer’s business, affairs and operations and will have access to all
        significant aspects of the business and operations of the Employer and to
        Confidential and Proprietary Information.

       

      (b)           The
        Executive hereby covenants and agrees that, during the term of employment
        and
        thereafter, unless otherwise authorized by the Employer in writing, the
        Executive shall not, directly or indirectly, under any circumstance: (i)
        disclose to any other person or entity (other than in the regular course
        of
        business of the Employer) any Confidential and Proprietary Information, other
        than pursuant to applicable law, regulation or subpoena or with the prior
        written consent of the Employer; (ii) act or fail to act so as to impair
        the
        confidential or proprietary nature of any Confidential and Proprietary
        Information; (iii) use any Confidential and Proprietary Information other
        than
        for the sole and exclusive benefit of the Employer; or (iv) offer or agree
        to,
        or cause or assist in the inception or continuation of, any such disclosure,
        impairment or use of any Confidential and Proprietary Information. Following
        the
        term of employment, the Executive shall return all documents, records and
        other
        items containing any Confidential and Proprietary Information to the Employer
        (regardless of the medium in which maintained or stored).

       

      (c)           While
        the Executive is employed by the Employer and for one (1) year after the
        Date of
        Termination, the Executive shall not hire or solicit or attempt to solicit
        for
        hire a Covered Employee, encourage another person to hire a Covered Employee,
        or
        otherwise seek to adversely influence or alter such Covered Employee’s
        relationship with the Employer or any of the Employer’s Affiliates (except
        during the Executive’s employment with the Employer, when acting on the good
        faith belief that ending the Covered Employee’s employment would be in the
        Employer’s best interest). A “Covered Employee” shall be any person who has been
        employed by the Employer or any of the Employer’s Affiliates in which Executive
        was directly involved or had access to Confidential and Proprietary Information
        at any time within the twelve (12) months prior to the date of any action
        prohibited by the preceding sentence occurs.

       

      (d)           The
        Executive acknowledges that as a result of Executive’s employment with the
        Employer, Executive has held and will continue to hold a position of the
        highest
        trust in which Executive comes to know the Employer’s employees, its customers
        and its Confidential and Proprietary Information.  The Executive
        agrees that the provisions of Section 7 (c) are necessary to protect the
        Employer’s legitimate business interests.  The Executive warrants that
        these provisions will not unreasonably interfere with Executive’s ability to
        earn a living or to pursue Executive’s occupation after Executive’s employment
        ends for any reason.  Executive agrees to promptly notify the Employer
        of the name and address of any Person or entity to which Executive provides
        services during the Covered Period and authorizes the Employer, after
        consultation with Executive as to the form and content of any such notice,
        to
        notify that entity of Executive’s obligations under this Agreement.

       

      (e)           The
        parties agree that nothing in this Agreement shall be construed to limit
        or
        negate the common law of torts, confidentiality, trade secrets, fiduciary
        duty
        and obligations where such laws provide the Employer with any broader, further
        or other remedy or protection than those provided herein.

       

      (f)           Because
        the breach of any of the provisions of this Section 7 will result in immediate
        and irreparable injury to the Employer for which the Employer will not have
        an
        adequate remedy at law, the Employer shall be entitled, in addition to all
        other
        rights and remedies, to seek a degree of specific performance of the restrictive
        covenants contained in this Section 7 and to a temporary and permanent
        injunction enjoining such breach, without posting bond or furnishing similar
        security.

       

      8.           Cooperation
        in Legal
        Proceedings.                                                                            After
        the Date of Termination, the Executive agrees to reasonably cooperate with
        the
        Employer and any of their Affiliates in the defense or prosecution of any
        claims
        or actions that may be brought against or on behalf of the Employer or its
        Affiliates, which relate to events or occurrences that transpired while the
        Executive was employed by the Employer.  The Executive’s reasonable
        cooperation in connection with such claims or actions shall include, but
        not be
        limited to, being available to meet with counsel to prepare for discovery
        or
        trial and to act as a witness on behalf of the Employer or any of their
        Affiliates.  The Executive also agrees to reasonably cooperate with
        the Employer and any of their Affiliates in connection with any investigation
        or
        review of any federal, state, or local regulatory authority as any such
        investigation or review relates to any acts or omissions that transpired
        while
        the Executive was employed by the Employer.  The Executive understands
        that in any legal action, investigation, or review covered by this Section
        8
        that the Employer expects the Executive to provide only accurate and truthful
        information or testimony.  The Employer will pay expenses necessarily
        and reasonably incurred by the Executive in complying with this
        Section.

       

      9.           Work
        Product.  The Executive acknowledges that all inventions
        innovations, improvements, developments, methods, designs, analyses, drawings,
        reports and all similar or related information (whether or not patentable)
        which
        relate to the Employer or its Affiliates, research and development or existing
        or future products or services and which are conceived, developed or made
        by the
        Executive while employed by the Employer and its Affiliates (“Work Product”)
        belong to the Employer or such Affiliates (as applicable).  The
        Executive shall promptly disclose such Work Product to the Board of Directors
        of
        the Employer and perform all actions reasonably requested by such Board of
        Directors (whether during or after the Executive’s employment) to establish and
        confirm such ownership (including, without limitation, executing assignments,
        consents, powers of attorney and other instruments).

       

      10.           Return
        of
        Property.                                                      On
        and after the Date of Termination for any reason, or at any time during the
        Executive’s employment, on the request or direction of the Employer, the
        Executive will immediately deliver to the Employer any or all equipment,
        property, material, Confidential and Proprietary Information, Work Product
        or
        copies thereof which are owned by the Employer and are in the Executive’s
        possession or control.  This includes documents or other information
        prepared by the Executive, on Executive’s behalf or provided to the Executive in
        connection with the Executive’s duties while employed by the Employer,
        regardless of the form in which such document or information are maintained
        or
        stored, including computer, typed, written, electronic, audio, video,
        micro-fiche, imaged, drawn or any other means of recording or storing documents
        or other information.  The Executive hereby warrants that the
        Executive will not retain in any form such documents, Confidential and
        Proprietary Information, Work Product or other information or copies
        thereof.  The Executive may retain a copy of this Agreement and any
        other document or information describing any rights the Executive may have
        after
        the termination of the Executive’s employment.

       

      11.           Dispute
        Resolution.                                           
The Executive and the Employer agree that arbitration in accordance
        with the
        Federal Arbitration Act and the Dispute Resolution Procedures set forth in
        Attachment A to this Agreement shall be the exclusive means for final resolution
        of any dispute between the parties arising out of or relating to the Executive’s
        employment or this Agreement, except (1) for workers’ compensation and
        unemployment claims; (2) when injunctive relief is necessary to preserve
        the
        status quo or to prevent irreparable injury; and (3) any claims arising from
        or
        relating to Section 7 of this Agreement.  Injunctive relief may be
        sought only from any court of competent jurisdiction located in Orange County,
        California and the Executive consents to venue and personal jurisdiction
        in any
        such court.  The parties hereto agree that the arbitration provided
        for hereunder shall be conducted by the Judicial Arbitration and Mediation
        Services, Inc. (“JAMS”), presently located in Orange County,
        California.  In the event JAMS is unable or unwilling to conduct the
        arbitration provided for under the terms of this Section, or has discounted
        its
        business, the parties agree that the American Arbitration Association, presently
        located in Orange County, California, shall conduct the binding arbitration
        referred to in this Section.  If any part of this Agreement is held by
        an arbitrator or court of competent jurisdiction to be void or unenforceable,
        the remaining provisions shall continue with full force and
        effect.  If this Agreement shall be determined by any court or an
        arbitrator to be unenforceable because of its duration, or the scope of
        activities, information or geographic area covered, the parties agree that
        this
        Agreement shall be interpreted to extend to the maximum period of time or
        range
        of activities, information or geographic area that would be
        enforceable.

       

      12.           Withholding.  All
        payments required to be made by the Employer hereunder to the Executive shall
        be
        subject to the withholding of such amounts, if any, relating to tax and other
        payroll deductions as the Employer may reasonably determine should be withheld
        pursuant to any applicable law or regulation.

       

      13.           Assignability.  The
        Employer may assign this Agreement and its rights and obligations hereunder
        in
        whole, but not in part, to any corporation or other entity with or into which
        the Employer may hereafter merge or consolidate or to which the Employer
        may
        transfer all or substantially all of its respective assets, if in any such
        case
        said corporation or other entity shall by operation of law or expressly in
        writing assume all obligations of the Employer hereunder as fully as if it
        had
        been originally made a party hereto, but may not otherwise assign this Agreement
        or its rights and obligations hereunder. The Executive may not assign or
        transfer this Agreement or any rights or obligations hereunder.

       

      14.           Notice.  For
        the purposes of this Agreement, notices and all other communications provided
        for in this Agreement shall be in writing and shall be deemed to have been
        duly
        given when delivered or mailed by certified or registered mail, return receipt
        requested, postage prepaid, addressed to the respective addresses set forth
        on
        the signature page hereto. Any notice, request, demand or other communication
        delivered or sent in the manner aforesaid shall be deemed given or made (as
        the
        case may be) upon the earliest of (a) the date it is actually received, (b)
        the
        business day after the day on which it is delivered by hand, (c) the business
        day after the day on which it is properly delivered to Federal Express (or
        a
        comparable overnight delivery service), or (d) the third business day after
        the
        day on which it is deposited in the United States mail. The Employer or the
        Executive may change their respective addresses by notifying the other party
        or
        parties of the new addresses in any manner permitted by this Section
        14.

       

      15.           Amendment;
        Waiver.  No provisions of this Agreement may be modified,
        waived or discharged unless such waiver, modification or discharge is agreed
        to
        in writing and signed by the Executive and such officer or officers as may
        be
        specifically designated by the Board of Directors of the Employer to sign
        on
        their behalf. No waiver by any party hereto at any time of any breach by
        any
        other party hereto of, or compliance with, any condition or provision of
        this
        Agreement to be performed by such other party shall be deemed a waiver of
        similar or dissimilar provisions or conditions at the same or at any prior
        or
        subsequent time.

       

      16.           Governing
        Law. The validity, interpretation, construction and performance of this
        Agreement shall be governed by the laws of the United States where applicable
        and otherwise by the substantive laws of the California, without regard to
        any
        conflicts of laws provisions thereof.

       

      17.           Nature
        of Obligations. Nothing contained herein shall create or require the
        Employer to create a trust of any kind to fund any benefits which may be
        payable
        hereunder, and to the extent that the Executive acquires a right to receive
        benefits from the Employer hereunder, such right shall be no greater than
        the
        right of any unsecured general creditor of the Employer.

       

      18.           Headings.
        The section headings contained in this Agreement are for reference
        purposes only and shall not affect in any way the meaning or interpretation
        of
        this Agreement.

       

      19.           Validity.
        The invalidity, illegality or unenforceability of any provision
        of this
        Agreement, in whole or in part, shall not affect the validity, legality or
        enforceability of any other provisions of this Agreement, which shall remain
        in
        full force and effect.

       

      20.           Counterparts.
        This Agreement may be executed in one or more counterparts, each
        of
        which shall be deemed to be an original but all of which together will
        constitute one and the same instrument.

       

      21.           Regulatory
        Prohibition and Required Provisions.

       

      (a)           Notwithstanding
        any other provision of this Agreement to the contrary, any payments made
        to the
        Executive pursuant to this Agreement, or otherwise, are subject to and
        conditioned upon their compliance with Section 18(k) of the Federal Deposit
        Insurance Act (“FDIA”) (12 U.S.C. §1828(k), and the regulations promulgated
        thereunder, including 12 C.F.R. Part 359. Furthermore, following such
        termination for Cause, the Executive will not, directly or indirectly,
        participate in the affairs or the operations of the Employer.

       

      (b)           If
        Executive is suspended from office and/or temporarily prohibited from
        participating in the conduct of the Bank’s affairs by a notice served under
        Section 8(e)(3) or 8(g)(1) of the FDIA, 12 U.S.C. § 1818(e)(3) or (g)(1), the
        Bank’s obligations under this contract shall be suspended as of the date of
        service, unless stayed by appropriate proceedings.  If the charges in
        the notice are dismissed, the Bank may in its discretion (i) pay Executive
        all
        or part of the compensation withheld while their contract obligations were
        suspended; and (ii) reinstate (in whole or in part) any of the obligations
        which
        were suspended.

       

      (c)           If
        Executive is removed and/or permanently prohibited from participating in
        the
        conduct of the Bank’s affairs by an order issued under Section 8(e)(4) or
        8(g)(l) of the FDIA, 12 U.S.C. § 1818(e)(4) or (g)(l), all obligations of the
        Bank under this contract shall terminate as of the effective date of the
        order,
        but vested rights of the contracting parties shall not be affected.

       

      (d)           If
        the Bank is in default as defined in Section 3(x)(l) of the FDIA, 12 U.S.C.
§
1813(x)(l) all obligations of the Bank under this contract shall terminate
        as of
        the date of default, but this paragraph shall not affect any vested rights
        of
        the contracting parties.

       

      (e)           All
        obligations of the Bank under this contract shall be terminated, except to
        the
        extent determined that continuation of the contract is necessary for the
        continued operation of the institution, by the Federal Deposit Insurance
        Corporation (“FDIC”), at the time the FDIC enters into an agreement to provide
        assistance to or on behalf of the Bank under the authority contained in Section
        13(c) of the FDIA, 12 U.S.C. § 1823(c).

       

      22.           Entire
        Agreement. This Agreement embodies the entire agreement between the
        Employer and the Executive with respect to the matters agreed to herein.
        All
        prior agreements between the Employer and the Executive with respect to the
        matters agreed to herein are hereby superseded and shall have no force or
        effect.

       

      [Signature
        page follows]

       

      IN
        WITNESS WHEREOF, this Agreement has been executed as of the date first
        above written.

       

      PACIFIC
        PREMIER BANK

      

      

      By:                                                                

            Name:

      Title:

      Address:

      1600
        Sunflower Avenue

      2nd
        Floor

      Costa
        Mesa, CA  92626

      

      

      EXECUTIVE

      

      

      By:                                                                

            Name:  Edward
        Wilcox

        Address:

      13221
        Sussex Place

      Santa
        Ana, CA  92705

      
        
          

        

      

       

      Attachment
        A

       

      DISPUTE
        RESOLUTION PROCEDURES

       

      The
        parties agree to make a good faith effort to informally resolve any dispute
        before submitting the dispute to be resolved in accordance with the following
        procedures (“Procedures”):

       

      
        	
                A.  

              	
                The
                  party claiming to be aggrieved (“Claimant”) shall furnish to the other a
                  written statement of the grievance, all Persons whose testimony
                  would
                  support the grievance, and the relief requested or
                  proposed.  The written statements must be delivered to the other
                  party within the time limits for bringing an administrative or
                  court
                  action based on that claim.

              

      

       

      
        	
                B.  

              	
                If
                  the other party does not agree to furnish the relief requested
                  or
                  proposed, or otherwise does not satisfy the demand of the Claimant
                  within
                  30 days and the Claimant wishes to pursue the issue, the Claimant
                  shall
                  give notice to the other of the Claimant’s demand that the dispute be
                  submitted to non-binding mediation before a mediator jointly selected
                  by
                  the parties or the parties cannot agree on a mediator selected
                  from a list
                  provided by the American Arbitration Association.  Such
                  mediation should occur within 90 days of the demand for
                  mediation.

              

      

       

      
        	
                C.  

              	
                If
                  the dispute is not resolved in mediation, the Claimant shall request
                  arbitration of the dispute by giving written notice to the other
                  party
                  within 30 days after mediation. The parties will attempt to agree
                  on a
                  mutually acceptable arbitrator and, if no agreement is reached,
                  the
                  parties will request a list of nine arbitrators from the American
                  Arbitration Association or such other arbitration firms as agreed
                  and
                  select by alternatively striking names.  The arbitration will be
                  conducted consistent with American Arbitration Association’s National
                  Rules for Resolution of Employment Disputes (“Rules”) that are in effect
                  at the time of the arbitration.  If there is any conflict
                  between those Rules and the Procedures, the Procedures will
                  govern.  The arbitrator shall have authority to decide whether
                  the conduct complained of under Section A above violates the legal
                  rights
                  of the parties.  In any such arbitration proceeding, any hearing
                  must be supported by written findings of fact and conclusions of
                  law.  The arbitrator’s findings of fact must be supported by
                  substantial evidence on the record as a whole, and the conclusions
                  of law
                  and any remedy must be provided for by and consistent with the
                  laws of
                  California and federal law.  The arbitrator shall have no
                  authority to add to, modify, change or disregard any lawful term
                  of the
                  Agreement. The Employer will pay the arbitrator’s fee.  Any
                  award that may result from such arbitration, may be confirmed into
                  a
                  judgment from a court and enforced in accordance with applicable
                  law.QuickLinks
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Exhibit 10.2.14    
    

 
 

VERIGY LTD. 2006 EQUITY INCENTIVE PLAN
  NOTICE OF SHARE OPTION AWARD
  (FOUR TRANCHE)    
    

        You have been granted the following option to purchase Verigy Ltd. (the "Company") ordinary shares as
follows: 

	 	Name of Optionee:	 	«Name»
	

 	

Total Number of Shares:	
 	

«TotalShares»
	

 	

Type of Option:	
 	

Nonstatutory Stock Option
	

 	

Date of Award:	
 	

«AwardDate»
	

 	

Expiration Date:	
 	

«ExpDate». This option may expire earlier if your Service terminates earlier, as described in the Stock Option Agreement.

        The
Option shall be divided into four tranches of «1/4shares» each, with exercise prices1 and vesting as follows: 

	 	Exercise Prices	 	 
	 	Exercise Price Per Share, 1st Tranche:	 	$«PricePerShare1st» (the last sale price of Verigy ordinary shares on «AwardDate»);
	

 	

Exercise Price Per Share, 2nd Tranche:	
 	

The last sale price of Verigy ordinary shares on the third business day following Verigy's announcement of financial results for the fiscal quarter ending «2PricingDate»;
	

 	

Exercise Price Per Share, 3rd Tranche:	
 	

The last sale price of Verigy ordinary shares on the third business day following Verigy's announcement of financial results for the fiscal quarter ending «3PricingDate»; and
	

 	

Exercise Price Per Share, 4th Tranche:	
 	

The last sale price of Verigy ordinary shares on the third business day following Verigy's announcement of financial results for the fiscal quarter ending «4PricingDate».
	 	 	 	 

	

 	
Vesting Schedule	
 	

 
	 	1st Tranche («1/4shares»):	 	The first tranche of shares subject to this option vests and becomes exercisable in 16 equal quarterly installments with the first installment vesting on «1Vest Date», provided that you continue to be an
Awardee Eligible to Vest as of the applicable vesting date.
	

 	

2nd Tranche («1/4shares»):	
 	

The second tranche of shares subject to this option vests and becomes exercisable in 15 equal quarterly installments2 with the first installment vesting on «2VestDate», provided that you continue to be an Awardee Eligible to
Vest as of the applicable vesting date.
	

 	

3rd Tranche («1/4shares»):	
 	

The third tranche of shares subject to this option vests and becomes exercisable in 14 equal quarterly installments2 with the first installment vesting on «3VestDate», provided that you continue to be an Awardee Eligible to
Vest as of the applicable vesting date.
	

 	

4th Tranche (1/4shares):	
 	

The fourth tranche of shares subject to this option vests and becomes exercisable in 13 equal quarterly installments,2 with the first installment vesting on «4VestDate», provided that you continue to be an Awardee Eligible to
Vest as of the applicable vesting date.

	1
	Except
as set forth in the accompanying Option Agreement, the exercise prices for the 2nd through 4th tranches shall be equal to the closing
price of Verigy ordinary shares on the pricing dates indicated above. Such prices shall be set automatically and without any further action on the part of the Company or the optionee.

	2
	No
fractional shares shall be issuable. The number of shares exercisable at each vesting event other than the last shall be rounded down to the nearest whole share and the
last vesting event shall cover all shares not previously vested. 

        You
and the Company agree that this option is granted under and governed by the terms and conditions of the Verigy Ltd. 2006 Equity Incentive Plan (the "Plan") and the Stock
Option Agreement, both of which are made a part of this document. 

        You
further agree that the Company shall cause the shares issued upon exercise of this option to be deposited in your Smith Barney Account and, further, that the Company may deliver
electronically all documents relating to the Plan or this option (including, without limitation, prospectuses required by the Securities and Exchange Commission) and all other documents that the
Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements). You also agree that the Company may deliver these documents by posting them
on a web site maintained by the Company or by a third party under contract with the Company. If the Company posts these documents on a web site, it will notify you regarding such posting. 

	OPTIONEE:	 	VERIGY LTD.
	

    
	
 	

BY:	

    

	 	 	TITLE:	    

 
 
 

VERIGY LTD. 2006 EQUITY INCENTIVE PLAN
  SHARE OPTION AGREEMENT
  (Four Tranche)    

	Tax Treatment	This option is intended to be a nonstatutory stock option.
	

Vesting	

This option becomes exercisable in installments, during the Option term as shown in the Notice of Stock Option Award, as long as you remain an Awardee Eligible to Vest (as defined in the Plan). This option will in no event become exercisable for
additional shares after your Service has terminated for any reason, except as otherwise provided in the Plan and this agreement.
	

Term	

This option expires in any event at the close of business at Company headquarters on the day before the 7th anniversary of the Date of Award, as shown in the Notice of Stock Option Award. (It may expire earlier if your Service terminates,
as described below.)
	

Regular Termination	

Unless otherwise provided in an agreement between you and the Company, if your Service terminates for any reason except death, total and permanent disability, or retirement due to age, in accordance with the Company's or a Subsidiary's or Affiliate's
retirement policy, then this option will expire at the close of business at Company headquarters on the date three months after your termination date, or, if earlier, the expiration of the term of this option. The Company determines when your Service
terminates for this purpose.
	

Termination as a result of Death, Disability or Retirement	

If you die before your Service terminates, or if your Service terminates because of your total and permanent disability or in connection with your retirement due to age, then (i) the vested portion of each tranche of this option will be determined by
adding 12 months to your length of service and (ii) you will be entitled to exercise this option until the close of business at Company headquarters on the one year anniversary of the date of death, disability or retirement, or, if earlier, until the
expiration of the term of this option, as provided in the Plan.
	

 	

For all purposes under this Agreement, "total and permanent disability" means that you are unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in
death or which has lasted, or can be expected to last for a continuous period of not less than one year.
	

Special Provisions for Accelerated Pricing of Unpriced Tranches	

Notwithstanding the establishment of pricing dates for the 2nd, 3rd and 4th tranches of the award as set forth in the Notice of Stock Option Award, the exercise price of any previusly unpriced tranche shall be
established in accordance with the following in the following circumstances:
	

 	
Change of Control.    In the event that prior to any pricing date the Company or any third party publicly announces any transaction or event which, as announced or if
consummated, would constitute a Change of Control (as defind in the Plan) of the Company, the per-share exercise price for each tranche of this option not already priced as of the date of such announcement shall become fixed at an amount equal to the
closing price of Verigy ordinary shares on the last trading day immediately preceding such announcement.
	 	 	 

2

 

	

 	
Termination of Employment.    In the event that prior to any pricing date your Service (as defined in the Plan) with the Company and its affiliates shall terminate for any
reason, then the per-share exercise price for each tranche of this option not already priced as of the date of such termination of Service shall become fixed at an amount equal to the closing price of Verigy ordinary shares on the last trading day
immediately preceding your last day of Service.
	

 	
No Affect On Vesting.    The Vesting provisions applicable to any tranche shall not be affected by a change in the timing of establishing the exercise price in accordance
with the preceding paragraphs.
	

Leaves of Absence and Part-Time Work	

For purposes of this option, your Service does not terminate when you go on a military leave, a sick leave or another Company approved leave of absence, and if continued crediting of Service is required by the terms of the leave or by applicable law.
But your Service terminates when the approved leave ends, unless you immediately return to active work.
	

 	

Your status as an Awardee Eligible to Vest (as defined in the Plan) will always cease upon termination of employment with the Company or a Subsidiary or Affiliate except as provided in Article 5 of the Plan.
	

 	

If you commence working on a part-time basis, then the vesting schedule specified in the Notice of Stock Option Award may be adjusted in accordance with the Company's part-time work policy or the terms of an agreement between you and the Company
pertaining to your part-time schedule.
	

Restrictions on Exercise	

The Company will not permit you to exercise this option if the issuance of shares at that time would violate any law or regulation.
	

Notice of Exercise	

You may exercise this option from time to time for any number of shares for which the option is then exercisable, by notice in writing, electronically or by other means to, and as prescribed by, the Company's equity incentive administration service
provider (the "administration service provider"). Your exercise notice will be effective and irrevocable at such time as your notice, method of payment (whether by cash, check, proceeds from the immediate sale of the option shares, or as otherwise
provided in the Plan) and such other documentation as the administration service provider may require have been received by the administration service provider. Your exercise notice must specify which tranche(s) of this option you are
exercising.
	

 	

If someone else wants to exercise this option after your death, that person must prove to the Company's satisfaction that he or she is entitled to do so.
	

Form of Payment	

When you exercise this option, you must provide for payment of the option exercise price for the shares that you are purchasing. To the extent permitted by applicable law, payment may be made in one (or a combination of two or more) of the forms set
forth in Sections 5.7 (a), (c) and (d) of the Plan.
	 	 	 

3

 

	

Withholding Taxes and Stock Withholding	

Regardless of any action the Company or your employer (the "Employer") takes with respect to any or all income tax, social insurance, payroll tax, payment on account or other tax-related withholding ("Tax-Related Items"), you acknowledge that the
ultimate liability for all Tax-Related Items legally due by you is and remains your responsibility and that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection
with any aspect of the option grant, including the grant, vesting or exercise of the option, the subsequent sale of shares acquired pursuant to such exercise and the receipt of any dividends; and (2) do not commit to structure the terms of the grant
or any aspect of the option to reduce or eliminate your liability for Tax-Related Items.
	

 	

Prior to exercise of the option, you will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding and payment on account obligations of the Company and/or the Employer. In this regard, you
authorize the Company and/or the Employer to withhold all applicable Tax-Related Items legally payable by you from your wages or other cash compensation paid to you by the Company and/or the Employer or from proceeds of the sale of shares.
Alternatively, or in addition, if permissible under local law, the Company may (1) sell or arrange for the sale of shares that you acquire to meet the withholding obligation for Tax- Related Items, and/or (2) withhold in shares, provided that the
Company only withholds the amount of shares necessary to satisfy the minimum withholding amount. Finally, you will pay to the Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a
result of your participation in the Plan or your purchase of shares that cannot be satisfied by the means previously described. The Company may refuse to honor the exercise and refuse to deliver the shares if you fail to comply with your obligations
in connection with the Tax-Related Items as described in this section.
	

Restrictions on Resale	

You agree not to sell any option shares at a time when applicable laws, Company policies or an agreement between the Company and its underwriters prohibit a sale. This restriction will apply as long as your Service continues and for such period of
time after the termination of your Service as the Company may specify.
	

Transfer of Option	

Unless determined otherwise by the Committee, this option may not be sold, pledged, assigned, hypothecated, transferred, or disposed of in any manner other than by the beneficiary designation, will or by the laws of descent or distribution and may be
exercised, during your lifetime, only by you. If the Committee makes this option transferable, it shall contain such additional terms and conditions as the Committee deems appropriate.
	

Retention Rights	

Your option or this Agreement does not give you the right to be retained by the Company or a subsidiary of the Company in any capacity. The Company and its subsidiaries reserve the right to terminate your Service at any time, with or without
cause.
	 	 	 

4

 

	

Stockholder Rights	

You, or your estate or heirs, have no rights as a stockholder of the Company until you have exercised this option by submitting the required notice in accordance with the provisions under "Notice of Exercise" set forth above and paying the exercise
price and any applicable withholding taxes. No adjustments are made for dividends or other rights if the applicable record date occurs before you exercise this option, except as described in the Plan.
	

Adjustments	

In the event of a stock split, a stock dividend or a similar change in Company stock, the number of shares covered by this option and the exercise price per share may be adjusted pursuant to the Plan.
	

Nature of the Grant	

In accepting the grant, you acknowledge that:
	

 	

(a)	

the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Plan and this Share Option Agreement;
	

 	

(b)	

the grant of the option is voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits in lieu of options, even if options have been granted repeatedly in the past;
	

 	

(c)	

all decisions with respect to future option grants, if any, will be at the sole discretion of the Company;
	

 	

(d)	

you are voluntarily participating in the Plan;
	

 	

(e)	

the option is an extraordinary item that does not constitute compensation of any kind for services of any kind rendered to the Company or the Employer, and which is outside the scope of your employment contract, if any;
	

 	

(f)	

the option is not part of normal or expected compensation or salary for any purposes, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long-service awards, pension or
retirement benefits or similar payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Employer;
	

 	

(g)	

in the event that you are not an employee of the Company, the option grant will not be interpreted to form an employment contract or relationship with the Company; and furthermore, the option grant will not be interpreted to form an employment
contract with the Employer or any subsidiary or affiliate of the Company;
	

 	

(h)	

the future value of the underlying shares is unknown and cannot be predicted with certainty;
	

 	

(i)	

if the underlying shares do not increase in value, the option will have no value;
	

 	

(j)	

if you exercise your option and obtain shares, the value of those shares acquired upon exercise may increase or decrease in value, even below the exercise price;
	 	 	 

5

 

	

 	

(k)	

in consideration of the grant of the option, no claim or entitlement to compensation or damages shall arise from termination of the option or diminution in value of the option or shares purchased through exercise of the option resulting from
termination of your employment by the Company or the Employer (for any reason whatsoever and whether or not in breach of local labor laws) and you irrevocably release the Company and the Employer from any such claim that may arise; if,
notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing this Share Option Agreement, you shall be deemed irrevocably to have waived your entitlement to pursue such claim;
and
	

 	

(l)	

in the event of termination of your employment (whether or not in breach of local labor laws), your right to receive the option and vest in the option under the Plan, if any, will terminate effective as of the date that you are no longer actively
employed and will not be extended by any notice period mandated under local law (e.g., active employment would not include a period of "garden leave" or similar period pursuant to local law); furthermore, in the event of termination of employment
(whether or not in breach of local labor laws), your right to exercise the option after termination of employment, if any, will be measured by the date of termination of your active employment and will not be extended by any notice period mandated
under local law; the Company shall have the exclusive discretion to determine when you are no longer actively employed for purposes of your option grant.
	

Data Privacy Notice and Consent	
You hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of your personal data as described in this Share Option Agreement by and among, as applicable, your
employer, the Company, its subsidiaries and its affiliates for the exclusive purpose of implementing, administering and managing your participation in the Plan.
	 	 	 

6

 

	

 	
You understand that the Company and your employer may hold certain personal information about you, including, but not limited to, your name, home address and telephone number, date of birth, social insurance
number or other identification number, salary, nationality, job title, any shares of stock or directorships held in the Company, details of all options or any other entitlement to shares awarded, canceled, vested, unvested or outstanding in your
favor, for the purpose of implementing, administering and managing the Plan ("Data"). You understand that Data may be transferred to any third parties assisting in the implementation, administration and management of the Plan, that these recipients
may be located in your country, or elsewhere, and that the recipient's country may have different data privacy laws and protections than your country. You understand that you may request a list with the names and addresses of any potential recipients
of the Data by contacting your local human resources representative. You authorize the recipients to receive, possess, use, retain and transfer the Data, in electronic or other form, for the purposes of implementing, administering and managing your
participation in the Plan, including any requisite transfer of such Data as may be required to a broker, escrow agent or other third party with whom the shares received upon exercise of the option may be deposited. You understand that Data will be
held only as long as is necessary to implement, administer and manage your participation in the Plan. You understand that you may, upon request, view Data, request additional information about the storage and processing of Data, correct Data or
refuse or withdraw the consents herein, in any case without cost, by contacting in writing your local human resources representative. You understand that refusal or withdrawal of consent may affect your ability to participate in the Plan. For more
information on the consequences of your refusal to consent or withdrawal of consent, You understand that You may contact your local human resources representative.
	

Language	

If you have received this Share Option Agreement or any other document related to the Plan translated into a language other than English and if the translated version is different than the English version, the English version will
control.
	

Applicable Law	

This Agreement shall be governed by, and construed in accordance with, the laws of the Republic of Singapore (except its choice-of-law provisions).
	

The Plan and Other Agreements	

The text of the Plan is incorporated in this Agreement by reference.
	

 	

This Agreement and the Plan constitute the entire understanding between you and the Company regarding this option. Any prior agreements, commitments or negotiations concerning this option are superseded. This Agreement may be amended only by another
written agreement between the parties.
	 	 	 

7

 

	

 	

If one or more of the provisions of this Share Option Agreement shall be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby
and the invalid, illegal or unenforceable provisions shall be deemed null and void; however, to the extent permissible by law, any provisions which could be deemed null and void shall first be construed, interpreted or revised retroactively to permit
this Share Option Agreement to be construed so as to foster the intent of this Share Option Agreement and the Plan

YOUR ELECTRONIC SIGNATURE TO THIS NOTICE AND AGREEMENT IS YOUR AGREEMENT TO ALL OF THE TERMS AND CONDITIONS DESCRIBED ABOVE AND IN THE PLAN.  

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Exhibit 10.2.14

VERIGY LTD. 2006 EQUITY INCENTIVE PLAN NOTICE OF SHARE OPTION AWARD (FOUR TRANCHE)

VERIGY LTD. 2006 EQUITY INCENTIVE PLAN SHARE OPTION AGREEMENT (Four Tranche)

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