Document:

Exhibit 10.12

 

No.: 0380300008-2017
N (N. E.) Z. No. 00083

 

Execution
Copy

 

 

 

 

 

 

 

 

 

 

Online
Revolving Loan Contract

  

(Enterprise
Edition) (2016 Version)

 

 

 

 

 

 

 

 

 

 

 

Special
note: This Contract is concluded and entered into by and between lending and borrowing parties per consultation pursuant to law
on the basis of equality and voluntariness, and all contract terms and conditions are demonstrating the genuine intention of both
parties. In order to safeguard legal rights and interests of the Borrower, the Lender hereby reminds the Borrower to pay adequate
attention to all terms and conditions regarding the rights and obligations of both parties, especially the contents in bold.

 

    	 	1	 

     

    

  

	Lender:	Industrial
    and Commercial Bank of China Limited Qingdao Shinan Second Sub-branch
	 	 
	Domicile
    (address):	No.
    12, Hong Kong Middle Road, Shinan District, Qingdao City
	 	 
	Borrower:	Qingdao
    Tiandihui Foodstuffs Co., Ltd.
	 	 
	Legal
    representative:	Cui
    Rongfeng
	 	 
	Domicile
(address):
	No.
2521, Tiejueshan Road, Huangdao District, Qingdao City 

  

Through
equal consultation, the Lender and Borrower has reached an agreement regarding the matter of issuing a loan by Lender to Borrower,
and hereby conclude and enter into this Contract.

 

Part
1 Basic Agreement

 

	Article 1:	Purpose
of borrowing

 

The
borrowing hereunder is used for purchasing raw materials. Without written consent of the Lender, the Borrower shall not
use the borrowing for other purpose, and the Lender is entitled to supervise the use of borrowing.

 

	Article 2:	Revolving
line of credit and service life

 

	 	2.1	The
    revolving line of credit hereunder is RMB2.8 Million (in words: Two Million Eight Hundred Thousand) (in case
    of discrepancy between the amount in words and in figures, the amount in words shall prevail).

 

	 	2.2	The
    service life of revolving line of credit hereunder is as of the effective date hereof till July 10, 2018. Within such
    period, the Borrower may use the foregoing line of credit on a revolving basis, provided the amount of withdrawal each time
    must not be less than RMB50 Thousand, and the borrowing balance at any time within such period must not exceed the
    revolving line of credit. As agreed by the lending and borrowing parties per consultation, the service life of revolving line
    of credit may be extended, and both parties shall otherwise sign the “Online Revolving Loan Contract Elements Modification
    Agreement”.

 

	 	2.3	The
    term of borrowing for each withdrawal by the Borrower starts from the actual withdrawal date until the agreed repayment date,
    subject to the record in receipt for a loan, but the term of borrowing for each withdrawal shall be 7 days at least and 1
    year at most.

 

    	 	2	 

     

    

 

	 	2.4	The
    withdrawal within the service life of revolving line of credit hereunder is carried out according to the following Subparagraph:

 

Committed
withdrawal, namely under the precondition of conforming to contract agreement, within the revolving line of credit and its service
life, the Borrower may make withdrawal and repayment at any time. (Except for the circumstances caused by factors such as adjustment
of national policy etc.)

 

	Article 3:	Interest
rate and interest

 

	 	3.1	Method
    of determining borrowing rate

 

The
borrowing rate is determined according to the following method:

 

The
interest rate for every borrowing is determined by the benchmark interest rate plus floating range, among them, the benchmark
interest rate is the Loan Prime Rate (LPR) of year term published by National Interbank Funding Center on the working day
before the date of issuing every borrowing, the floating range is plus 92 base point(s) (one base point represents 0.01%).
The borrowing rate after the withdrawal of every borrowing will be determined according to the following method:

 

It
takes 3 month(s) as a period and will be adjusted at every one period to calculate the interest by stage. The date of determining
the interest rate for the second period and each period thereafter will be corresponding date after the expiry of one period after
the withdrawal of every borrowing, the Lender will adjust the borrowing rate according to the floating range and Loan Prime Rate
published by National Interbank Funding Center for the term mentioned above on the working day before such day. If the date corresponding
to withdrawal date is not available in the month of adjustment, then the corresponding date will be the last day of such month.
If National Interbank Funding Center has not published the loan prime rate for corresponding term on the working day before the
date of determining interest rate, then it shall be subject to the loan prime rate published by National Interbank Funding Center
on the previous working day, and so on.

 

	 	3.2	Interest will be calculated
    on daily basis for the borrowing hereunder starting from the actual withdrawal date, and will be settled on monthly basis.
    Upon borrowing maturity, the interest shall be paid off together with the principal. Among them, daily interest rate=annual
    interest rate/360.

 

	 	3.3	The
    overdue punitive interest rate hereunder is determined by charging extra 50% based on the original borrowing rate,
    and the punitive interest rate for misappropriation of borrowing is determined by charging extra 100% based on the
    original borrowing rate.

 

    	 	3	 

     

    

 

	 	3.4	Apart
    from interest, the Lender may charge the Borrower the commitment fee, which will be charged from Borrower in a lump sum or
    by installments according to the balance between the amount of this Contract and the amount already withdrawn by the Borrower
    (average daily balance within charging period), the rate will be determined according to 3%-5% annual rate, or may be charged
    according to agreement.

 

	 	3.5	For
    charging related inquiry (complaint), please call 95588 or contact the Lender’s banking office.

 

	Article 4:	Withdrawal

 

The
Borrower may withdraw the borrowing hereunder through the following method:

 

	 	(1)	Withdraw
    the borrowing directly from the banking office designated by the Lender.

 

	 	(2)	Self-help
    withdraw the borrowing through the online banking of ICBC.

 

	Article 5:	Repayment

 

The
Borrower shall make bullet repayment of the borrowing hereunder upon the maturity date of borrowing.

 

	Article 6: 	Account

 

The
Borrower shall open an account at place of Lender or designate the following account as the special account for withdrawal and
repayment: 3803021619200172322.

 

	Article 7:	Guarantee

 

If
the borrowing hereunder is a maximum guaranteed loan, the corresponding maximum guarantee contracts are as follows:

 

Name
of the Maximum Guarantee Contract: 1 Maximum Mortgage Contract (No.: 0380300008-2014 N N. E. (D) Z. No. 00134;
0380300008-2015 N N. E. (D) Z. No. 0064)

 

The
Mortgagor: Cui Rongfeng

 

Name
of the Maximum Guarantee Contract: 2 Maximum Guarantee Contract (No.: 0380300008-2016 N N. E. (B) Z. No. 0810)

 

The
Guarantor: Cui Rongfeng, Wang Yanjuan

 

	 	Article 8:	Dispute
settlement

 

The
conclusion, effectiveness, interpretation, performance and dispute settlement of this Contract will be governed by the laws of
the People’s Republic of China. During contract performance, for all disputes arising herefrom or related hereto, the interested
parties shall first settle through consultation. If consultation fails, a lawsuit may be filed to the competent court at the place
of Lender for settlement.

 

    	 	4	 

     

    

 

	Article 9:	Miscellaneous

 

This
Contract is made in duplicate, the Borrower and Lender holds one copy respectively, and both of them shall have
the same legal effect.

 

	Article 10:	Other
matters agreed by both parties

 

Without
written consent of the Lender, the Borrower shall not provide assured guarantee externally, otherwise it will be deemed as breach
of contract, and the Lender is entitled to early announce the maturity of financing and recover the financing.

 

Part
2 Specific Terms and Conditions

 

	Article 1:	Interest
rate and interest

 

	 	1.1	If
    the borrowing rate hereunder adopts floating interest rate, the rules for interest rate adjustment after the borrowing becomes
    overdue will still be executed according to the original method.

 

	 	1.2	The
    expiry date for interest is the 20th day of every calendar month if the interest on borrowing is settled on monthly basis;
    and the 20th day of the last calender month of every quarter if settled on quarterly basis; and on June 20 and December 20
    every year if settled on semi-annually basis.

 

	 	1.3	The
    first interest period starts from the Borrower’s actual withdrawal date till the first expiry date for interest; the last
    interest period starts from the next day after end of previous interest period till the final repayment date; and the rest
    interest periods start from the next day after the end of previous interest period till the next expiry date for interest.

 

	 	1.4	Interest
    of the loan = the borrowing principal * daily interest rate * actual days used. If to repay average principal plus interest,
    the calculating formula is as follows:

 

Total
principal plus interest per period = the borrowing principal * interest rate per period * (1+ interest rate per period) number
of repaying period / (1+ interest rate per period) number of repaying period - 1

 

	 	1.5	In
    case of adjustment of measures by the People’s Bank of China for determining the loan interest rate, then relevant regulations
    of the People’s Bank of China shall apply for handling, and the Lender will not serve any further notice to the Borrower.

 

	 	1.6	When
    signing this Contract, if it is determined that the borrowing rate is executed by floating a certain percentage downwards
    from relevant loan benchmark interest rate published by the People’s Bank of China or the Loan Prime Rate (LPR) published
    by National Interbank Funding Center, the Lender is entitled to conduct reassessment every year on the preferential interest
    rate offered to the Borrower, voluntarily decide to cancel, in whole or in part, the preferential interest rate offered to
    the Borrower according to national policy, Borrower’s credit status and changes in loan guarantee etc., and inform the Borrower
    timely.

 

    	 	5	 

     

    

 

	Article 2:	Withdrawal
of borrowing and payment

 

	 	2.1	Borrower’s
    withdrawal of borrowing must satisfy the following preconditions, otherwise the Lender has no obligation to issue any amount
    to the Borrower, except for the Lender agrees upon advance lending:

 

	 	(1)	Upon
    every withdrawal, the statement and guarantee made by the Borrower hereunder are still authentic, accurate and complete, and
    no default circumstance has occurred hereunder or under other contracts signed by and between the Lender and Borrower;

 

	 	(2)	Apart
    from fiduciary loan, the Borrower has provided corresponding guarantee as required by the Lender, and relevant guarantee formalities
    have been gone through, there is no change adverse to the Lender occurs, and the guarantee quota is adequate.

 

	 	(3)	If
    the Borrower withdraws the borrowing through online banking of ICBC, the “Industrial and Commercial Bank of China Online
    Banking Enterprise Customer Service Agreement” signed by and between the Borrower and Lender is always valid.

 

	 	(4)	For
    conditional revolving withdrawal, the Lender has sufficient allocatable credit fund. For committed revolving withdrawal, the
    Lender has sufficient allocatable credit fund at the last day of the month. The allocatable credit fund means the credit scale
    formulated by the Lender and disbursable to a specific domain within a certain period according to the relevant credit policy
    of the country.

 

	 	2.2	If
    the Borrower withdraws the borrowing through the banking office designated by the Lender, the Borrower shall fill in and submit
    corresponding receipt for a loan to the Lender at least five banking days in advance. Once the receipt for a loan has been
    submitted, it cannot be revoked without written consent of the Lender.

 

	 	2.3	If
    the Borrower withdraws the borrowing through online banking of ICBC, the Borrower shall sign the “Industrial and Commercial
    Bank of China Online Banking Enterprise Customer Service Agreement” with the Lender, commit to comply with “Industrial
    and Commercial Bank of China Online Banking Regulations” and relevant transaction rules, and operate according to relevant
    transaction rules. The withdrawal instruction submitted by the Borrower through online banking of ICBC and confirmed by the
    Lender is deemed as the receipt for a loan.

 

	 	2.4	After
    the Borrower has satisfied the preconditions, when the Lender has transferred the borrowing into the account designated by
    the Borrower, it will be deemed as the Lender has released the borrowing as agreed in this Contract.

 

    	 	6	 

     

    

 

	 	2.5	Pursuant
    to relevant regulatory provisions and Lender’s management requirements, for the borrowing withdrawn and used by adopting Lender’s
    entrusted payment, according to the Borrower’s withdrawal request and payment entrustment, the Lender will pay the borrowing
    fund to the payment object conforming to the purpose agreed in this Contract.

 

	 	2.6	When
    handling entrusted payment, upon withdrawal, the Lender shall provide Borrower the account information of its payment object
    and supporting documents proving that the withdrawal meets the agreed purpose. The Borrower shall guarantee that all materials
    provided to the Lender are authentic, complete and effective.

 

	 	2.7	When
    handling entrusted payment, the Lender only carries out formal examination on relevant materials such as information of payment
    object, supporting documents on borrowing usage etc. provided by the Borrower, if the Lender fails to complete the entrusted
    payment in due time due to relevant materials provided by the Borrower are not authentic, accurate and complete, the Lender
    will not bear any responsibility therefor.

 

	 	2.8	If
    per examination the Lender finds that relevant materials such as usage supporting documents etc. provided by the Borrower
    are inconsistent or have other defects, the Lender is entitled to ask the Borrower to supplement, replace, explain or resubmit
    relevant materials, before the Borrower has submitted materials satisfactory to the Lender, the Lender is entitled to refuse
    to release and pay relevant amounts.

 

	 	2.9	According
    to the Borrower’s different purposes of borrowing, the Lender is entitled to ask the Borrower, independent intermediary agency
    and other related party to issue relevant supporting documents such as joint certification form etc., and the Borrower will
    issue and pay the financing amounts according to such supporting documents.

 

	 	2.10	If per
    examination the Lender thinks the materials provided by the Borrower is consistent with the purpose of borrowing agreed and
    the withdrawal is conforming to the agreement hereof, the Lender will first transfer the borrowing into the account
    designated     by the Borrower, and then transfer the corresponding amount into the account of Borrower’s payment object
    according to the     needs and relevant business vouchers submitted by the Borrower.

 

	 	2.11	In case
    of any one of the following circumstances, the Lender is entitled to confirm the issuing and payment conditions of borrowing
    again, or stop issuing and paying the borrowing:

 

	 	(1)	The
    Borrower provides false or invalid materials to the Lender to acquire the borrowing;

 

	 	(2)	The
    Borrower encounters material adverse change in production and management, derating of credit status, or default under this
    Contract;

 

    	 	7	 

     

    

 

	 	(3)	The
    Borrower fails to withdraw and pay the borrowing amount as agreed herein, and abnormality occurs in the use of borrowing amount;

 

	 	(4)	The
    Borrower violates the agreement hereof or relevant regulatory provisions, and evades the entrusted payment by breaking up
    the whole into parts;

 

	 	(5)	The
    loan account designated by the Borrower or the account of payment object is frozen or stopped of payment by competent authority.

 

	 	2.12	If the
    loan account designated by the Borrower or the account of its payment object is frozen or stopped of payment by competent
    authority, resulting in the Lender is unable to complete the entrusted payment in due time as entrusted by the Borrower, the
    Lender will not bear any responsibility therefor, and also it will not affect the Borrower’s repayment obligation already
    incurred hereunder.

 

	 	2.13	If the
    borrowing hereunder is self-paid by the Borrower, the Borrower commits to accept and actively cooperate with the Lender’s
    examination and supervision on the use condition including the purpose of financing amount by means of account analysis,
    voucher     checking and onsite investigation etc., and regularly propose summary report on the use condition of borrowing as
    required     by the Lender.

 

	 	2.14	If the
    Lender suffers loss due to the materials provided by the Borrower to the Lender are unauthentic, incomplete or invalid, the
    Borrower shall compensate.

 

	 	2.15	Where
    the Lender fails to issue and pay the borrowing in due time as agreed herein, the Lender shall
    bear the corresponding responsibility for breach of contract, except for otherwise agreed herein.

 

	 	2.16	If due
    to war, natural disaster and other unforeseeable, unavoidable and insurmountable force majeure events, or the Lender’s
    system     failure, communication failure and other accidents, and thereby causing the Lender fail to pay corresponding
    amounts in due     time, the Lender will not bear any responsibility therefor, but the Lender shall promptly inform the
    Borrower by phone or     written notice.

 

	 	Article 3:	Repayment

 

	 	3.1	The
    Borrower shall repay in full the borrowing principal, interest and other payables in due time as agreed herein. On repayment
    date and previous banking day before every expiry date for interest, the Borrower shall deposit the interest payable, principal
    and other payables in current period in full into the repayment account opened in or designated by the Lender, the Lender
    is entitled to initiatively collect by transfer on such repayment date or expiry date for interest, or ask the Borrower to
    cooperate to go through relevant transfer formalities. If the amounts in repayment account is not sufficient to pay the Lender
    all due payables, the Lender is entitled to decide the satisfaction order thereof.

 

    	 	8	 

     

    

 

	 	3.2	When
    applying for early repayment of borrowing in whole or in part, the Borrower shall propose written application to the Lender,
    or submit the early repayment instruction to the Lender through online banking of Industrial and Commercial Bank of China.

 

	 	3.3	If
    the Lender agrees upon early repayment, on the date of early repayment, the Borrower shall also pay off the due and payable
    borrowing principal, interest and other payables as agreed herein till the date of early repayment at the same time.

 

	 	3.4	If
    the actual term of borrowing is shortened due to the Borrower’s early repayment or the Lender early recovers the borrowing
    according to the agreement hereof, the corresponding grade of interest rate will not be adjusted, and the original borrowing
    rate shall still apply.

 

	Article 4:	Guarantee

 

	 	4.1	Apart
    from fiduciary borrowing, the Borrower shall provide legal and effective guarantee approved by the Lender for performance
    of its obligations hereunder. And the guarantee contract will be signed otherwise.

 

	 	4.2	If
    the collateral hereunder suffers damage, depreciation, ownership dispute, is sealed up or detained, or the mortgagor arbitrarily
    disposes the collateral, or adverse change occurs in financial condition of the guarantor of assured guarantee, or other changes
    adverse to the creditor’s rights of the Lender occur, the Borrower shall promptly inform the Lender and otherwise provide
    other guarantee approved by the Lender.

 

	 	4.3	The
    Lender is entitled to reappraise the value of the collateral and the guaranty ability of the guarantor regularly or irregularly.
    If the appraised value of the collateral is decreased, or the appraised guaranty ability of the guarantor is reduced, the
    Borrower shall provide additional guarantee which shall be equivalent to the value decreased or ability reduced, or shall
    provide other guarantee with which the Lender is recognized.

 

	 	4.4	With
    the consent of the Lender, if pledge guarantee is provided by means of account receivable for the borrowing hereunder, within
    the validity period of this Contract, in case of any one of the following circumstances, the Lender is entitled to declare
    early maturity of the borrowing; ask the Borrower to immediately repay, in whole or in part, the borrowing principal and interest;
    or add the legal, effective and adequate guarantee approved by the Lender:

 

	 	(1)	The
    bad debt rate of the pledger of account receivable to the payer’s account receivable rises for 2 consecutive months;

 

	 	(2)	The
    matured but unrecovered account receivable from the payer to the pledger of account receivable is accounting for over 5% of
    the payer’s balance of account receivable;

 

	 	(3)	Trade
    dispute (including but not limited to dispute in the aspects of quality, technology and service) arises between the pledger
    of account receivable and payer or other third party, causing the account receivable cannot be repaid on time upon maturity.

 

    	 	9	 

     

    

 

	Article 5:	Representations
and warranties

 

The
Borrower makes the following representation and warranties to the Lender, and such representations and warranties are always valid
within the validity period hereof:

 

	 	5.1	Possess
    the Borrower subject qualification pursuant to law, eligible and capable of signing and performing this Contract.

 

	 	5.2	The
    signing of this Contract has acquired all necessary authorizations or approvals, the signing and performance of this Contract
    do not violate the provisions of articles of association, shareholders’ capital contribution agreement, association agreement,
    partnership agreement and relevant laws and regulations; nor contradict with the due obligations under other contracts.

 

	 	5.3	Other
    debts payable have been repaid on time, and there is no malicious default on bank loan principal and interest.

 

	 	5.4	There
    is no significant lawbreaking behavior in the course of production and management within the last year, and current senior
    managerial staffs have no major adverse record.

 

	 	5.5	All
    documents and materials provided to the Lender are authentic, accurate, complete and effective, and there is no false record,
    major omission or misleading statement.

 

	 	5.6	The
    litigation, arbitration or claim event involved in by the Borrower is not concealed from the Lender.

 

	 	5.7	Has
    learned and fully understood all kinds of transaction rules of the e-banking system of ICBC online banking related to this
    Contract.

 

	Article 6:	Borrower’s
commitment

 

	 	6.1	Withdraw
    and use the borrowing according to the term and purpose agreed herein, the borrowing amount will not be used for repaying
    the principal and interest of loan, nor in any way flow into securities market, futures market or real estate market; nor
    be used for other purpose prohibited or restricted by relevant laws and regulations.

 

	 	6.2	Repay
    the borrowing principal, interest and other payables as agreed herein.

 

	 	6.3	Accept
    and actively cooperate with the Lender’s examination and supervision on the use condition including the purpose of borrowing
    fund by means of account analysis, voucher checking and onsite investigation etc., and regularly propose summary report on
    the use condition of borrowing fund as required by the Lender.

 

    	 	10	 

     

    

 

	 	6.4	Accept
    the Lender’s credit checks, promptly provide authentic, accurate and complete financial materials and other materials reflecting
    the Borrower’s debt paying ability as required by the Lender, including all banks of deposit, bank accounts, balance of deposits
    etc., and actively assist and cooperate with the Lender for the investigation, understanding and supervision of its production,
    management and financial conditions.

 

	 	6.5	When
    proceeding merger, separation, capital reduction, changes in equity, joining in partnership, withdrawal from partnership,
    significant assets and creditor’s rights transfer, major foreign investment, substantial increase of debt financing and other
    actions might cause adverse impact on the Lender’s rights and interests, the Borrower shall ask for the Lender’s written consent
    in advance.

 

	 	6.6	In
    case of any one of the following circumstances, inform the Lender promptly:

 

	 	(1)	Change
    of name, official seal, articles of association, domicile, legal representative or responsible person, contact address etc.

 

	 	(2)	Discontinuation
    of business, dissolution, liquidation, suspension of business for rectification, being revoked of the business license, being
    deregistered or filing (being filed) for bankruptcy;

 

	 	(3)	Involve
    in or might involve in major economic dispute, litigation, arbitration; or assets are sealed up, detained or under compulsory
    execution; or being filed a case for investigation or taken punishment measures pursuant to law by competent authority such
    as judicial authority, tax authority, industry and commerce organ etc.

 

	 	(4)	Shareholder,
    director and current senior managerial staff or partner and contributor are suspected of being involved in important case
    or economic dispute.

 

	 	6.7	Promptly,
    comprehensively and accurately disclose related party relations and related transaction to the Lender.

 

	 	6.8	Promptly
    sign to receive all kinds of notices sent or served by other means by the Lender.

 

	 	6.9	Do
    not dispose own assets by means of reducing the debt paying ability; the guarantee provided to the third party does not damage
    the Lender’s rights and interests.

 

	 	6.10	Bear
    the costs incurred to the Lender in realizing the creditor’s rights hereunder, include but not
    limited to attorney fee, assessment fee, auction fee etc.

 

	 	6.11	The
    satisfaction order of Borrower’s debt hereunder is superior to the debt of Borrower owed to
    its shareholder, legal representative or responsible person, partner, major contributor or key management personnel, and shall
    be at least under equal status as similar debts owed to other creditors of the Borrower.

 

    	 	11	 

     

    

 

	 	6.12	Has
    learned and fully understood all kinds of transaction rules of the e-banking system of ICBC
    online banking related to this Contract; properly safekeeps customer certificate and password, all operations by using the
    Borrower’s customer number (card number), password or customer certificate will be deemed as the action of Borrower, and electronic
    information records generated therefrom will be taken as the proof and the voucher for handling the debtor-creditor relationship
    hereunder.

 

	 	6.13	If
    the borrowing hereunder is issued by means of credit, the Borrower commits to regularly report
    the situation of external guarantee to the Lender completely, authentically and accurately. If the guarantee provided externally
    might affect the performance of obligations hereunder, the written consent of the Lender is required.

 

	 	6.14	Strengthen
    environmental and social risks management, and accept the Lender’s supervision and examination
    for that. If the Lender requests, the Borrower shall submit environmental and social risks report to the Lender.

 

	Article 7:	Lender’s
commitment

 

	 	7.1	Issue
    the borrowing to the Borrower as agreed herein.

 

	 	7.2	Keep
    the private materials and information provided by the Borrower related to the aspects of finance, operation and management
    confidential, except for otherwise prescribed by laws and regulations and otherwise agreed herein.

 

	Article 8:	Breach
of contract

 

	 	8.1	In
    case of any one of the following circumstances, it constitutes the Borrower’s breach of contract:

 

	 	(1)	The
    Borrower fails to repay the borrowing principal and interest and other payables hereunder as agreed, or fails to perform any
    other obligations hereunder, or violates any representation, warranty or commitment hereunder;

 

	 	(2)	Change
    adverse to the Lender’s creditor’s rights occurs in the guarantee hereunder, and the Borrower fails to otherwise provide other
    guarantee approved by the Lender;

 

	 	(3)	The
    Borrower fails to repay any other debts after the maturity (including being declared immediate maturity), or fails to perform
    or violates the obligations under other agreements, which already or might affect the performance of its obligations hereunder:

 

	 	(4)	The
    Borrower’s financial indexes such as profitability, debt paying ability, operation capability and cash flow etc. break through
    the arranged standard, or deteriorate and already or might affect the performance of its obligations hereunder;

 

    	 	12	 

     

    

 

	 	(5)	Material
    adverse change occurs in the Borrower’s production, management and foreign investment, which already or might affect the performance
    of its obligations hereunder;

 

	 	(6)	The
    Borrower or its shareholder, legal representative or responsible person, partner, main individual investor or key management
    personnel involves in or might involve in major economic dispute, litigation, arbitration; or assets are sealed up, detained
    or under compulsory execution; or being filed a case for investigation or taken punishment measures pursuant to law by judicial
    authority or administrative agency; or being exposed by media due to violation of relevant national regulations or policies,
    which already or might affect the performance of its obligations hereunder;

 

	 	(7)	The
    Borrower’s change in equity or change of holding relations, partnership, association relations; abnormal change of partner,
    main individual investor or key management personnel; or such personnel are missing or under investigation or restriction
    of personal liberty by judicial authority pursuant to law, which already or might affect the performance of its obligations
    hereunder;

 

	 	(8)	The
    Borrower utilizes the false contract with the related party, and fraudulently obtains capital or credit from the Lender by
    utilizing transactions without actual transaction background; or the Borrower intentionally evades from the creditor’s rights
    of Lender through related transaction;

 

	 	(9)	The
    Borrower already has been or might be under discontinuation of business, dissolution, liquidation, suspension of business
    for rectification, be revoked of the business license, be deregistered or filing (being filed) for bankruptcy;

 

	 	(10)	The
    Borrower causes liability accident, significant environmental and social risks events due to violation of laws and regulations,
    regulatory provisions or industry standard related to food safety, safety production, environmental protection and other environmental
    and social risks management, which already or might affect the performance of its obligations hereunder;

 

	 	(11)	The
    Borrower’s legal representative or responsible person, partner, main individual investor or key management personnel involves
    in illegal acts such as underworld activities, drug taking, gambling, smuggling etc.;

 

	 	(12)	The
    Borrower owes taxes, money or regularly delays to pay the wages to employees;

 

	 	(13)	Default
    occurs in personal loan or credit card of the Borrower’s legal representative or responsible person, partner, main individual
    investor or key management personnel;

 

    	 	13	 

     

    

 

	 	(14)	Other
    circumstances might cause adverse impact on the Lender’s realization of creditor’s rights hereunder.

 

	 	8.2	In
    case of breach of contract by the Borrower, the Lender is entitled to take one or several of the following measures:

 

	 	(1)	Ask
    the Borrower to correct the noncompliance within a time limit;

 

	 	(2)	Stop
    issuing the borrowing and other financing amounts to the Borrower according to this Contract and other contracts between the
    Lender and Borrower, cancel in whole or in part the borrowing and other financing amounts not withdrawn by the Borrower;

 

	 	(3)	Declare
    immediate maturity of the outstanding borrowing and other financial amounts under this Contract and other contracts between
    the Lender and Borrower, and immediately recover the outstanding amounts;

 

	 	(4)	Ask
    the Borrower to compensate other losses caused to the Lender due to its breach of contract;

 

	 	(5)	Other
    measures stipulated in laws and regulations, agreed herein or the Lender thinks necessary.

 

	 	8.3	If
    the Borrower fails to repay upon the maturity of borrowing (including being declared immediate maturity), the Lender is entitled
    to charge the penalty interest according to the overdue punitive interest rate agreed herein as of the overdue date. If the
    Borrower fails to pay the interest on time, the compound interest will be charged according to the overdue punitive interest
    rate.

 

	 	8.4	If
    the Borrower fails to use the borrowing according to the purpose agreed herein, the Lender is entitled to charge penalty interest
    according to the punitive interest rate for misappropriation of borrowing for the part of misappropriation starting from the
    date on which the borrowing is misappropriated; if the interest is not paid on time during the period of misappropriation
    of borrowing, the compound interest will be charged according to the punitive interest rate for misappropriation of borrowing.

 

	 	8.5	If
    the Borrower involves in the circumstances as mentioned in preceding Paragraph 8.3 and 8.4, the punitive interest rate will
    be determined according to the higher one, such punishments shall not be imposed concurrently.

 

	 	8.6	If
    the Borrower fails to repay the borrowing principal, interest (including penalty interest and compound interest) or other
    payables on time, the Lender is entitled to make an announcement via media for collection.

 

	 	8.7	If
    changes occur in the controlling or controlled relations between the Borrower’s related party and the Lender, or the Borrower’s
    related party involves in other circumstances other than those mentioned in Subparagraph (1) and (2), Paragraph 8.1, which
    already or might affect the performance of the Borrower’s obligations hereunder, the Lender is entitled to take all measures
    as agreed herein.

 

    	 	14	 

     

    

 

	Article 9:	Deduction

 

	 	9.1	If
    the Borrower fails to repay the matured (including being declared immediate maturity) debts hereunder as agreed, the Lender
    is entitled to deduct corresponding amounts from all local and foreign currency accounts opened by the Borrower in the Lender
    or other branch of Industrial and Commercial Bank of China for repayment, until the Borrower has repaid in full all the debts
    hereunder.

 

	 	9.2	If
    the currency of deduction amount is different from the currency herein, it will be converted according to the exchange rate
    applied by the Lender on deduction date. Interest and other expenses incurred during the deduction date and repayment date
    (the date on which the Lender converts the deduction amount into contract currency and actually repays the debts hereunder
    according to national foreign exchange management policy), and the balance generated from the exchange rate fluctuation during
    such period will be borne by the Borrower.

 

	 	9.3	If
    the Borrower’s deduction amount is not sufficient for repaying all debts to the Lender, the Lender is entitled to decide the
    satisfaction order.

 

	Article 10:	Transfer
of rights and obligations

 

	 	10.1	The
    Lender is entitled to transfer, in whole or in part, all its rights hereunder to the third party,
    and such transfer action of the Lender can be conducted without the consent of Borrower. Without written consent of the Lender,
    the Borrower shall not transfer any of its rights and obligations hereunder.

 

	 	10.2	The
    Lender or Industrial and Commercial Bank of China Limited (“ICBC”) may authorize or
    entrust other branches of ICBC to perform the rights and obligations hereunder according to the needs of operation and management,
    or put the creditor’s rights of loan hereunder under the undertaking and management by other branches of ICBC, the Borrower
    hereby agrees upon that, the Lender’s preceding actions can be conducted without further consent of Borrower. Other branch
    of ICBC undertaking the Lender’s rights and obligations is entitled to exercise all rights hereunder, and is entitled to file
    a lawsuit, recourse to arbitration or apply for compulsory execution in the name of such branch regarding the dispute hereunder.

 

	Article 11:	Effectiveness,
modification and rescission

 

	 	11.1	This
    Contract becomes effective as of the date of signature, until the Borrower’s obligations hereunder
    all have been performed.

 

	 	11.2	Any
    modification to this Contract shall be made in writing (including electronic data form) by consensus
    of each party. The modified clause or agreement constitute a part of this Contract and has the same legal effect as this Contract.
    Apart from the modified part, the rest parts of this Contract are still effective, and the original clause still remains effective
    before the effectiveness of modified part becomes.

 

    	 	15	 

     

    

 

	 	11.3	The
    modification and rescission of this Contract do not affect the rights of contracting parties
    to ask for loss compensation. The rescission of this Contract does not affect the effect of clauses related to dispute settlement.

 

	Article 12:	Governing
law and dispute settlement

 

	 	12.1	The
    conclusion, effectiveness, interpretation, performance and dispute settlement of this Contract
    will be governed by the laws of the People’s Republic of China.

 

	 	12.2	For
    all disputes arising herefrom or related hereto, both parties shall first settle them through
    consultation; if consultation cannot be carried out or consultation fails, disputes will be settled according to the method
    agreed herein.

 

	Article 13:	Confirmation
of address for delivery of the litigation documents

 

	 	13.1	The
    Borrower confirmed that the address on the first page of this contract shall be the address for delivery of the litigation
    documents hereunder. Litigation documents including but not limited to summons, notice of court session, judgment, ruling,
    mediation document, notice of fulfillment within a time limit, etc.

 

	 	13.2	The
    Borrower agree that the fax and Email on the first page of this contract could be used by the court to deliver the litigation
    documents, except for judgment, ruling and mediation document.

 

	 	13.3	The
    above provisions are applicable at each stage of the litigation procedures including first trial, second trial, retrial and
    execution. The court may mail to the above mentioned address directly upon delivery.

 

	 	13.4	The
    Borrower shall confirm the authenticity and effectiveness of the information written on this contract including address, contact
    person, fax and Email. If there is any alteration, the Borrower shall give written notice to the Lender in time, or the delivery
    to the original address shall be deemed effective, and the Borrower shall undertake the liabilities that may arise on his
    own.

 

	Article 14:	Entire
contract

 

Part
1 “Basic Agreement” and Part 2 “Specific Terms and Conditions” herein jointly constitute an entire “Online
Revolving Loan Contract”, and the same word in these two parts shall have the same meaning. The Borrower’s borrowing is bound
by the preceding two parties jointly.

 

	Article 15:	Notice

 

	 	14.1	All
    notices hereunder shall be sent in writing (including electronic data form). Unless otherwise
    agree, both parties designate the domicile specified herein as the communication and contact address. In case of change of
    communication address or other contact methods, either party shall promptly inform the other party in writing.

 

    	 	16	 

     

    

 

	 	14.2	If
    either party hereto refuses to sign to receive or in case of other undeliverable circumstances,
    the notifying party may deliver through notarization and announcement.

 

	Article 16:	Special
agreement on value added tax

 

	 	15.1	The
    interests and expenses paid by the Borrower to the Lender under this Contract are the price
    including tax.

 

	 	15.2	If
    the Borrower asks the Lender to issue value added tax invoice, the Borrower shall first carry
    out information registration in the place of Lender, registered information include the Borrower’s full name, taxpayer identification
    number or social credit code, address, phone number, bank of deposit and account number. The Borrower shall ensure to provide
    relevant authentic, accurate and complete information to the Lender, and provide relevant supporting documents as required
    by the Lender, and specific requirements will be published by the Lender through branch notice or website announcement.

 

	 	15.3	If
    the Borrower voluntarily receives value added tax invoice, the Borrower shall provide the Lender
    the power of attorney affixed with official seal to designate the receiver and specify the receiver’s ID card number information,
    and the designated receiver will receive the value added tax invoice with the original ID card; in case of change of designated
    receiver, the Borrower needs to issue the power of attorney affixed with official seal to the Lender again. If the Borrower
    chooses to collect value added tax invoice by mail, the Borrower shall also provide correct and accurate and deliverable mailing
    information; in case of change of mailing information, the Borrower shall promptly inform the Lender in writing.

 

	 	15.4	If
    the Lender is unable to promptly issue value added tax invoice due to natural disaster, act
    of government, abnormal social events and other force majeure events or the reason of tax authority, the Lender is entitled
    to postpone issuing invoice and will not bear any responsibility therefor.

 

	 	15.5	After
    the value added tax invoice has been received by the Borrower or the Lender has delivered it
    to the third party for mailing, in case of lost, damaged or overdue invoice or other reasons not attributable to the Lender,
    and thereby causes the Borrower unable to receive corresponding page of value added tax invoice or unable to make deduction
    in due time, the Lender will not be responsible for compensating relevant economic losses of the Borrower.

 

	 	15.6	If
    due to the occurrence of sales return, suspension of taxable service or incorrect invoicing,
    both deduction page and invoice page cannot be identified etc., and value added tax special credit note needs to be issued,
    if pursuant to the provisions in relevant laws, regulations and policy documents, the Borrower needs to submit the “Information
    Form for Issuing Value Added Tax Special Credit Note” to the tax authority, then the Borrower shall submit the “Information
    Form for Issuing Value Added Tax Special Credit Note” to the tax authority, after tax authority has examined and approved
    it and informed the Lender, the Lender will issue the value added tax special credit note.

 

    	 	17	 

     

    

 

	 	15.7	During
    the contract performance, in case of adjustment of national tax rate, the Lender is entitled
    to adjust the price agreed herein according to the changes in national tax rate.

 

	Article 17:	Miscellaneous

 

	 	16.1	The
    Lender’s failure to exercise, or partial exercise of, or delay in exercising any rights hereunder
    will not constitute the waiver or change of such rights or other rights, nor affect its further exercise of such rights and
    other rights.

 

	 	16.2	Any
    clause of this Contract becomes invalid or unenforceable will not affect the validity and enforceability
    of other clauses, nor affect the effectiveness of entire contract.

 

	 	16.3	Pursuant
    to the provisions of relevant laws and regulations or requirements of financial supervisory
    authority, the Lender is entitled to provide the information related to this Contract and other relevant information of the
    Borrower to the credit information system of People’s Bank of China and other credit information database established pursuant
    to law, for the inquiry and use by eligible organization or individual. The Lender is also entitled to inquire about relevant
    information of the Borrower through the credit information system of People’s Bank of China and credit information database
    established pursuant to law for the purpose of concluding and performing this Contract.

 

	 	16.4	The
    words such as “related party”, “related party relations”, “related
    party transaction”, “main individual investor”, “key management personnel” etc. stated herein and
    the same words in the “Accounting Standards for Business Enterprises No. 36 -- Related Party Disclosure” (C. H.
    [2006] No. 3) promulgated by Ministry of Finance and the modification of such Standards thereafter shall have the same meaning.

 

	 	16.5	The
    environmental and social risks stated herein mean the hazards and relevant risks might be brought
    to the environment and society from the construction, production and operation activities of the Borrower and its important
    related parties, including environmental and social issues related to energy consumption, pollution, land, health, safety,
    resettlement of inhabitant, ecological protection, and climate change etc.

 

	 	16.6	The
    receipts and vouchers prepared and kept by the Lender according to its business rules for the
    borrowing hereunder constitute the effective evidence proving the debtor-creditor relationship between lending and borrowing
    parties, and have binding effect on the Borrower.

  

    	 	18	 

     

    

 

	 	16.7	The
    Borrower has learned and fully understood all kinds of transaction rules of the e-banking system
    of ICBC online banking related to this Contract; properly safekeeps customer certificate and password, all operations by using
    the Borrower’s customer number (card number), password or customer certificate will be deemed as the action of Borrower, and
    electronic information records generated therefrom will be taken as the proof and the voucher for handling the financing relationship
    hereunder.

 

	 	16.8	In
    this Contract,

 

	 	(1)	The
    mention of this Contract shall include the modification or supplement to this Contract;

 

	 	(2)	Headings
    of articles are used for reference only, and do not constitute any interpretation of this Contract, nor constitute any limitation
    to the contents under the heading and the scope thereof.

  

Both
parties hereby confirm that: the lending and borrowing parties have carried out sufficient consultation regarding all terms and
conditions of this Contract. The Lender has reminded the Borrower to pay special attention to all terms and conditions regarding
the rights and obligations of both parties, and have comprehensive and accurate understanding of them; and the Lender has made
interpretation and explanation on relevant terms and conditions as requested by the Borrower. The Borrower has carefully read
and fully understood all contract terms and conditions (including Part 1 “Basic Agreement” and Part 2 “Specific
Terms and Conditions”), the lending and borrowing parties have completely the same understanding in all terms and conditions
of this Contract, and have no disagreement upon the contract contents.

  

Lender
(Seal):

 

/s/
Industrial and Commercial Bank of China Limited

 

Qingdao
Shinan Second Sub-branch (Seal)

 

Responsible
person/authorized agent: /s/ Li Juan

  

Borrower
(Seal):

 

/s/
Qingdao Tiandihui Foodstuffs Co., Ltd. (Seal)

 

Responsible
person/authorized agent: /s/ Cui Rongfeng

  

Date
of contract: July 12, 2017

 

 

19Exhibit

Exhibit 10.2
LINEAR TECHNOLOGY CORPORATION CHANGE OF CONTROL SEVERANCE AGREEMENT
This Change of Control Severance Agreement (the "Agreement") is made and entered into by and  between    Steve  M.  Pietkiewicz    ("Executive") and Linear  Technology  Corporation  (the "Company"), effective as of  June 23, 2016 (the "Effective Date").

RECITALS

1.     The Compensation  Committee  (the "Committee")  of the Board  of Directors  of the Company (the "Board')  believes that it is in the best interests of the Company and its stockholders (i) to  assure  that  the Company  will  have the  continued  dedication  and  objectivity  of Executive, notwithstanding  the  possibility,  threat,  or occurrence  of a Change  of Control  and (ii) to  provide Executive with an incentive to continue Executive's employment prior to a Change of Control and to motivate Executive to maximize the value of the Company upon a Change of Control for the benefit of its stockholders.

2.     The  Committee  believes  that  it  is  imperative  to  provide  Executive  with  certain severance benefits upon Executive's termination of employment under certain circumstances.   These benefits will provide Executive with enhanced financial security and incentive and encouragement to remain with the Company notwithstanding the possibility of a Change of Control.

3.      Certain capitalized terms used in the Agreement are defined in Section 6 below.

AGREEMENT

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

1.       Term of Agreement.  This Agreement will have a term of three (3) years commencing on the Effective Date (the "Term") and any obligations of the Company hereunder will lapse upon the completion of the Term.   Notwithstanding  the foregoing  provisions  of this paragraph,  (a) if a Change of Control occurs when there are fewer than twenty-four (24) months remaining during the Term, the term of this Agreement will extend automatically through the date that is twenty-four (24) months following the effective date of the Change of Control, or (b) if an initial occurrence of an act or  omission  by  the  Company  constituting  the  grounds  for  "Good  Reason"  in  accordance  with Section 6(i) hereof has occurred (the "Initial Grounds"), and the expiration date of the Cure Period (as such term is used in Section 6(i)) with respect to such Initial Grounds could occur following the expiration of the Term, the term of this Agreement will extend automatically through the date that is ninety (90) days following the expiration of the Cure Period, but such extension of the term will only apply with respect to the Initial Grounds.   If Executive becomes entitled to benefits under Section 3 during the term of this Agreement, the Agreement will not terminate until all of the obligations of the parties hereto with respect to this Agreement have been satisfied.

2.      At-Will Employment.  The Company and Executive acknowledge that Executive's employment is and will continue to be at-will, as defined under applicable law.   As an at-will employee, either the Company or Executive may terminate the employment relationship at any time, with or without Cause.

3.    Severance Benefits.

(a)       Termination without Cause or Resignation for Good Reason During the Change of Control Period.  If the Company terminates Executive's employment with the Company without Cause (and not by reason of Executive's death or Disability) or if Executive resigns from such employment for Good Reason, and, in either case, such termination occurs during the Change of Control Period, then subject to Section 4, Executive will receive the following:

(i)     Accrued Compensation. The Company will pay Executive all accrued but unpaid vacation, expense reimbursements, wages, and other benefits due to Executive under any Company-provided plans, policies, and arrangements when legally required.

(ii)      Severance Payment. Executive will receive a lump-sum payment (less applicable withholding taxes) equal to one hundred percent (100%) of Executive's annual base salary as in effect immediately prior to Executive's termination date (or if the termination is due to a resignation for Good Reason based on a material reduction in base compensation, then Executive's annual base salary in effect immediately prior to such reduction) or, if greater, at the level in effect immediately prior to the Change of Control.

(iii)     Bonus Payment.   Executive will receive a lump-sum payment (less applicable withholding taxes) equal to one hundred percent (100%) of the Bonus Amount.

(iv)     COBRA Payment. If Executive elects continuation coverage pursuant to COBRA within the time period prescribed pursuant to COBRA for Executive and Executive's eligible dependents, the Company will reimburse Executive for the premiums necessary to continue group health insurance benefits under COBRA for Executive and Executive's eligible dependents until the earlier of (A) a period of twelve (12) months from the date of Executive's termination of employment, (B) the date upon which Executive and/or Executive's eligible dependents becomes covered under similar plans or (C) the date upon which Executive ceases to be eligible for coverage under COBRA  (such  reimbursements, the "COBRA Premiums").   However,  if  the Company determines in its sole discretion that it cannot pay the COBRA Premiums without potentially violating applicable law (including, without limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable lump-sum payment in an amount equal to the monthly COBRA premium that Executive would be required to pay to continue Executive's group health coverage in effect on the date of Executive's termination of employment (which amount will be based on the premium for the first month of COBRA coverage), multiplied by twelve (12), which payment will be made regardless of whether Executive elects COBRA continuation coverage.   For the avoidance of doubt, the taxable payments in lieu of COBRA Premiums may be used for any purpose, including, 

but not limited to continuation coverage under COBRA, and will be subject to all applicable tax withholdings.

(v)     Accelerated Vesting of Equity Awards. Seventy-five percent (75%) of Executive's then unvested Equity Awards will become vested in full and in the case of stock options and stock appreciation rights, will become exercisable.   In the case of Equity Awards with performance-based vesting, all performance goals and other vesting criteria will be treated as set forth in Executive's Equity Award agreement governing such Equity Award.

(b)       Termination Outside of the Change of Control Period; Voluntary Resignation; Termination for Cause.  If Executive's employment with the Company terminates (i) for any reason outside of the Change of Control Period; (ii) voluntarily by Executive (other than for Good Reason during the Change of Control Period); or (iii) for Cause by the Company, then Executive will not be entitled to receive severance or other benefits, except for those (if any) as may then be established under the Company's then existing severance and benefits plans and practices or pursuant to other written agreements with the Company.

(c)       Disability; Death.  If the Company terminates Executive's employment as a result of Executive's Disability, or Executive's employment terminates due to Executive's death, then Executive will not be entitled to receive severance or other benefits except for those (if any) as may then be established under the Company's then existing written severance and benefits plans and practices or pursuant to other written agreements with the Company.

(d)       Exclusive Remedy. In the event of a termination of Executive employment as set forth in Section 3(a) of this Agreement, the provisions of Section 3 are intended to be and are exclusive and in lieu of any other rights or remedies to which Executive or the Company otherwise may be entitled, whether at law, tort or contract, in equity, or under this Agreement (other than the payment of accrued but unpaid wages, as required by law, and any unreimbursed reimbursable expenses). Executive will be entitled to no benefits, compensation or other payments or rights upon a termination of employment other than those benefits expressly set forth in Section 3 of this Agreement.

4.     Conditions to Receipt of Severance; No Duty to Mitigate

(a)       Release of Claims Agreement.   The receipt of any severance payments or benefits (other than the accrued compensation set forth in Section 3(a)(i)) pursuant to this Agreement is subject to Executive executing and not revoking the separation agreement and release of claims set forth as Exhibit A hereto (the "Release" and such requirement, the "Release Requirement"), which must  become  effective  and  irrevocable  no  later  than  sixty  (60) days  following  Executive's termination of employment (the "Release  Deadline").  Any severance payments or benefits under this Agreement will be paid on, or, in the case of installments, will not commence until the first regularly scheduled payroll date following the date the Release becomes effective and irrevocable (the "Release  Effective  Date"),  or,  if  later, such  time  as  required  by  Section  4(c)(iii).    Any installment payments that would have been made to Executive prior to the Release Effective Date but for the preceding sentence will be paid to Executive on the first regularly scheduled payroll date following the Release Effective Date and the remaining payments will be made as provided in this Agreement.   If the Release does not become effective and irrevocable by the Release Deadline, Executive will forfeit any right to 

severance payments or benefits under this Agreement. In no event will severance payments or benefits be paid or provided until the Release actually becomes effective and irrevocable.

(b)       Confidential Information and Invention Assignment Agreements. Executive's receipt of any payments or benefits under Section 3 (other than the accrued compensation set forth in Section 3(a)(i)) will be subject to Executive continuing to comply with the terms of the Confidential Information and Invention Assignment Agreement previously entered into between the Company and Executive, as such agreement may be amended from time to time.

(c)     Section 409A.

(i)     Notwithstanding  anything  to  the  contrary  in this  Agreement,  no severance pay or benefits to be paid or provided to Executive, if any, pursuant to this Agreement that, when considered together with any other severance payments or separation benefits, are considered deferred compensation under Section 409A of the Code, and the final regulations and any guidance   promulgated   thereunder   ("Section 409A") (together,   the   "Deferred  Compensation Separation Benefits") will be paid or otherwise provided until Executive has a "separation from service" within the meaning of Section 409A.  Similarly, no severance payable to Executive, if any, pursuant to this Agreement that otherwise would be exempt from Section 409A pursuant to Treasury Regulation Section 1.409A-l (b)(9) will be payable until Executive has a "separation from service" within the meaning of Section 409A.  In no event will Executive have discretion to determine the taxable year of payment of any Deferred Compensation Separation Benefits.

(ii)     It  is  intended  that  none  of  the  severance  payments  under  this Agreement will constitute Deferred Compensation Separation Benefits but rather will be exempt from Section 409A as a payment that would fall within the "short-term deferral period" as described in Section 4(c)(iv) below or resulting from an involuntary separation from service as described in Section 4(c)(v) below.

(iii)     Notwithstanding  anything  to  the  contrary  in this  Agreement,  if Executive is a "specified employee" within the meaning of Section 409A at the time of Executive's separation from service (other than due to death), then the Deferred Compensation Separation Benefits, if any, that are payable within the first six (6) months following Executive's  separation from service, will become payable on the first payroll date that occurs on or after the date six (6) months  and  one  (1) day  following  the  date  of  Executive's   separation  from  service.  All subsequent Deferred Payments, if any, will be payable in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive's separation from service, but before the six (6) month anniversary of the separation from service, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of Executive's death and all other Deferred Payments will be payable in accordance with the payment schedule applicable to each payment or benefit.  Each payment and benefit payable under this Agreement is intended to constitute a separate payment under Section 1.409A-2(b)(2) of the Treasury Regulations.

(iv)     Any amount paid under this Agreement that satisfies the requirements of the "short-term deferral" rule set forth in Section 1.409A-l(b)(4) of the Treasury Regulations will not constitute Deferred Payments for purposes of clause (i) above.

(v)     Any amount paid under this Agreement that qualifies as a payment made as a result of an involuntary separation from service pursuant to Section 1.409A-l(b)(9)(iii) of the Treasury Regulations that does not exceed the Section 409A Limit (as defined below) will not constitute Deferred Payments for purposes of clause (i) above.

(vi)   The foregoing provisions are intended to comply with or be exempt from the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted to be exempt or so comply. The Company and Executive agree to  work  together  in  good faith to  consider amendments to  this  Agreement and  to  take  such reasonable  actions  which  are  necessary,  appropriate  or  desirable  to  avoid  imposition  of  any additional tax or income recognition before actual payment to Executive under Section 409A.  In no event will the Company reimburse Executive for any taxes that may be imposed on Executive as a result of Section 409A.

5.        Limitation on Payments. In the event that the severance and other benefits provided for in this Agreement or otherwise payable to Executive (i) constitute "parachute payments" within the meaning of Section 280G of the Code, and (ii) but for this Section 5, would be subject to the excise tax imposed by Section 4999 of the Code, then Executive's benefits under Section 3 will be either:

(a)     delivered in full, or

(b)     delivered as to such lesser extent which would result in no portion of such benefits being subject to excise tax under Section 4999 of the Code,

whichever of the foregoing amounts, taking into account the applicable federal, state and local income taxes and the excise tax imposed by Section 4999, results in the receipt by Executive on an after-tax basis, of the greatest amount of benefits, notwithstanding that all or some portion of such benefits may be taxable under Section 4999 of the Code.   If a reduction in severance and other benefits constituting "parachute payments" is necessary so that benefits are delivered to a lesser extent, reduction will occur in the following order: reduction of cash payments; cancellation of Equity Awards granted "contingent on a change in ownership or control" within the meaning of Code  Section  280G;  cancellation of  accelerated  vesting  of  Equity  Awards;  and  reduction  of employee benefits.  In the event that acceleration of vesting of Equity Award compensation is to be reduced, such acceleration of vesting will be cancelled in the reverse order of the date of grant of Executive's Equity Awards. In no event will the Executive have any discretion with respect to the ordering of payment reductions.

Unless the Company and Executive otherwise agree in writing, any determination required under this Section 5 will be made in writing by the Company's independent public accountants immediately prior to  a Change of Control or such other person or entity to  which the parties mutually agree (the "Firm"), whose determination will be conclusive and binding upon Executive and the Company. For purposes of making the calculations required by this Section 5, the Firm may make reasonable assumptions and approximations concerning applicable taxes and may rely on reasonable, good faith 

interpretations concerning the application of Sections 280G and 4999 of the Code.  The Company and Executive will furnish to the Firm such information and documents as the Firm may reasonably request in order to make a determination under this Section.  The Company will bear all costs the Firm may incur in connection with any calculations contemplated by this Section 5.

6.    Definition of Terms.  The following terms referred to in this Agreement will have the following meanings:

(a)    Bonus Amount. "Bonus Amount" means the greatest of:

(i)     the average Performance Bonus earned by Executive for the bonus periods ending during the twenty-four (24)-month period ending on the Termination Bonus Period End Date, with such average determined on an annualized basis,

(ii)     the average Performance Bonus earned by Executive for the bonus periods ending during the twenty-four (24)-month period ending on the COC Bonus Period End Date, with such average determined on an annualized basis, and

(iii)    Executive's annualized target Performance Bonus opportunity for the bonus period in effect at the time of Executive's termination (or if the termination is due to a resignation for Good Reason based on a material reduction in base compensation, then Executive's annualized target Performance Bonus opportunity as of immediately prior to such reduction).

Notwithstanding the foregoing, if Executive has not held the position in the Company that he or she holds as of the Effective Date (the "Reference Position") or a higher position in the Company assumed after the Effective Date for the entire duration of the twenty-four (24)-month period ending on the Termination Bonus Period End Date, references in the definition of "Bonus Amount" to:

(x)       the "twenty-four (24)-month period ending on the Termination Bonus Period End Date" will instead refer to the shorter period of time ending on the Termination Bonus Period End Date in which the Executive held the Reference Position (or a higher position in the Company assumed after the Effective Date), and

(y)       the "twenty-four (24)-month period ending on the COC Bonus Period End Date" will instead refer to such twenty-four (24)-month period or, if shorter, the period of time ending on the COC Bonus Period End Date in which the Executive held the Reference Position (or a higher position in the Company assumed after the Effective Date).

(b)       Cause. "Cause” means (i) an act of personal dishonesty taken by Executive in connection with his or her responsibilities as an employee and intended to result in substantial personal enrichment of Executive; (ii) Executive being convicted of, or entering a plea of nolo contendere or guilty to, a felony; (iii) a willful act by Executive which constitutes gross misconduct and which is injurious to the Company; or (iv) following delivery to Executive of a written demand for performance from the Company which describes the basis for the Company's reasonable belief that Executive has 

not substantially performed his or her duties, continued violations by Executive of Executive's   obligations  to  the  Company  which  are  demonstrably  willful  and  deliberate  on Executive's part

(c)       Change of Control. "Change of Control' means the occurrence of any of the following events:

(i)     Change in Ownership of the Company. A change in the ownership of the Company, which is deemed to occur on the date that any one person, or more than one person acting as a group ("Person"), acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent (50%) of the total voting power of the stock of the Company; or

(ii)     Change in  Effective Control  of  the  Company.    A  change  in  the effective control of the Company, which is deemed to occur on the date that a majority of members of the Board is replaced during any twelve (12)-month period by directors whose appointment or election was not endorsed by a majority of the members of the Board prior to the date of the appointment or election.   For purposes of this clause (ii), if any Person is considered to be in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered a Change of Control; or

(iii)       Change  in  Ownership of  a  Substantial Portion  of  the  Company's Assets.   A change in the ownership of a substantial portion of the Company's  assets, which is deemed to occur on the date that any Person acquires (either is one transaction or in multiple transactions over the twelve (12)-month period ending on the date of the most recent acquisition by such person or persons) assets from the Company that have a total gross fair market value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. For purposes of this subsection (iii), gross fair market value means the value of the assets of the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

For purposes of the above sections, persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase or acquisition of stock, or similar business transaction with the Company.

Notwithstanding the foregoing provisions of this definition, a transaction will not be deemed a Change of Control unless the transaction qualifies as a "change in control event" within the meaning of Section 409A.

(d)       Change of Control Period.   "Change  of Control  Period'' means the period ending twenty-four (24) months following the first Change of Control to occur after the Effective Date.

(e)     COBRA.  "COBRA" means the Consolidated Omnibus Budget Reconciliation
Act of 1985, as amended.

(f)       COC Bonus Period End Date. "COC Bonus Period End Date" means the last day of the last bonus period completed on or prior to the Change of Control.

(g)     Code.  "Code" means the Internal Revenue Code of 1986, as amended.

(h)      Disability.    "Disability"  means  that  Executive  is  unable  to  engage  in  any substantial  gainful activity by reason of any medically determinable physical or mental impairment that can be expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months.

(i)       Equity  Awards.     "Equity  Awards"  means  Executive's  outstanding  stock options,  stock  appreciation  rights,  restricted  stock,  restricted  stock  units,  performance  shares, performance stock units and any other Company equity compensation awards.

G)        Good   Reason.       "Good   Reason"   means    Executive's   termination    of employment within ninety (90) days following the expiration of any Cure Period (as defined below) following the occurrence of one or more of the following without Executive's express consent:

(i)     the assignment to Executive of any duties, authority or responsibilities, or the reduction of Executive's duties, authority or responsibilities, either of which results in a material reduction of Executive's duties, authority or  responsibilities relative to Executive's duties, authority or responsibilities as in effect immediately prior to such reduction, provided that any determination as to whether a material reduction has occurred will relate to changes from, and as compared to, Executive's duties, authority or responsibilities with the acquiring company immediately following the Change of Control, and, for the avoidance of doubt, Executive will not be entitled to claim Good Reason solely on account of his or her new position, duties, authority or responsibilities immediately following the Change of Control;

(ii)     if a target bonus opportunity has been set for Executive for the bonus period then in effect, a material reduction in the aggregate of Executive's (A) annualized base salary and (B) the annualized target Performance Bonus opportunity, in each case as in effect immediately prior to such reduction;

(iii)     if no target bonus opportunity has been set for Executive for the bonus period then in effect, a material reduction in the aggregate of Executive's (A) annualized base salary as in effect immediately prior to such reduction and (B) annualized Performance Bonus payment; provided, however, a reduction in Executive's annualized Performance Bonus payment for a given year or bonus period will be deemed to have been materially reduced for purposes of this clause (iii) only if and to the extent it represents a material reduction of such Performance Bonus payment as a percentage of Executive's annualized base salary as compared to the Perf01mance Bonus payments as a percentage of annualized base salary paid (or payable) to similarly situated executives of the combined entity following the Change in Control (by way of example, if Executive's base salary remains the same but Executive's Performance Bonus payment is reduced by an amount representing 10% of Executive's annualized base salary, and the Performance Bonus payments to similarly situated executives of the combined entity were also reduced by an amount representing 10% of such executives' respective base salaries, Executive would not have grounds for a resignation for "Good Reason" under this clause (iii));

(iv)     if a target bonus opportunity is established following a bonus period in which no target bonus opportunity had been set, Executive shall have Good Reason if the sum of Executive's (A) then-current annualized base salary plus (B) new target bonus opportunity
represents a material reduction as compared to the sum of Executive's (1) annualized base salary as in effect immediately prior to setting such target bonus opportunity and (2) average Performance Bonus earned by Executive for the bonus periods ending during the twenty-four  (24)-month period (or shorter period during which Executive held the Reference Position or a higher position in the Company) ending on the last day of the last bonus period ending on or prior to such establishment of the new target bonus opportunity, with such average determined on an annualized basis;

(v)     a material change in the geographic location at which Executive must perform services (in other words, the relocation of Executive to a facility or a location more than thirty-five (35) miles from Executive's then present location); or

(vi)     any other action or inaction that constitutes a material breach of the terms of the Agreement.

Executive will not resign for Good Reason without first providing the Company with written notice within ninety (90) days of the event that Executive believe constitutes "Good Reason" specifically  identifying  the  acts  or  omissions  constituting  the  grounds  for  Good  Reason  and  a reasonable cure period of not less than ninety (90) days (the "Cure Period").

(k)       Performance   Bonus.      "Performance  Bonus"  means   the   cash  incentive determined  based on Company and/or individual performance over a specified period (which may, but is not required to be, semi-annual or annual), but excluding a pure profit sharing program, sign­ on bonuses, transaction bonuses, or retention bonuses.

(I)        Section 409A Limit. "Section 409A Limit" will mean two (2) times the lesser of: (i) Executive's annualized  compensation  based  upon the annual rate of pay paid to Executive during Executive's taxable year preceding the Executive's taxable year of Executive's termination of employment as determined under, and with such adjustments as are set forth in, Treasury Regulation 1.409A-l(b)(9)(iii)(A)(l) and any Internal Revenue Service guidance issued with respect thereto; or (ii) the maximum amount that may be taken into account under a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which Executive's employment is terminated.

(m)      Termination Bonus Period End Date. "Termination Bonus Period End Date" means the last day of the last bonus period completed on or prior to the Executive's termination of employment.

7.     Successors.

(a)       The Company's Successors.  Any successor to the Company (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise) to all or substantially all of the Company's business and/or assets will assume the obligations under this Agreement and agree 

expressly to perform the obligations under this Agreement in the same manner and to the same extent as the Company would be required to perform such obligations in the absence of a succession.   For all purposes under this Agreement, the term "Company"  will include any successor to the Company's  business and/or assets which executes and delivers the assumption agreement described in this Section 7(a) or which becomes bound by the terms of this Agreement by operation of law.

(b)       Executive's Successors.    The terms of this Agreement and all rights of Executive hereunder will inure to the benefit of, and be enforceable by, Executive's personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.

8.     Notice.

(a)       General.    Notices and all other communications contemplated by this Agreement will be in writing and will be deemed to have been duly given when sent electronically or personally delivered when mailed by U.S. registered or certified mail, return receipt requested and postage prepaid or when delivered by a private courier service such as UPS, DHL or Federal Express that has tracking capability.  In the case of Executive, notices will be sent to the e-mail address or addressed to Executive at the home address, in either case which Executive most recently communicated to the Company in writing.  In the case of the Company, electronic notices will be sent to the e-mail address of the Chief Executive Officer and mailed notices will be addressed to its corporate headquarters, and all notices will be directed to the attention of its Chief Executive Officer.

(b)      Notice of Termination.   Any termination by the Company for Cause or by Executive for Good Reason will be communicated by a notice of termination to the other party hereto given in accordance with Section 8(a) of this Agreement.   Such notice will indicate the specific termination provision in this Agreement relied upon, will set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination under the provision so indicated, and will specify the termination date (which will be not more than ninety (90) days after the giving of such notice).

9.        Resignation.   Upon the termination of Executive's employment for any reason, Executive will be deemed to have resigned from all officer and/or director positions held at the Company and its affiliates voluntarily, without any further required action by Executive, as of the end of Executive's employment and Executive, at the Board's request, will execute any documents reasonably necessary to reflect Executive's resignation.

10.     Arbitration.

(a)       The Company and Executive each agree that any and all disputes arising out of the terms of this Agreement, Executive's employment by the Company, Executive's service as an officer or director of the Company, or Executive's compensation and benefits, their interpretation and any of the matters herein released, will be subject to binding arbitration under the arbitration rules set forth in California Code of  Civil Procedure Sections 1280 through 1294.2, including Section 1281.8 (the "Act"), and pursuant to California law.   Disputes that the Company and Executive agree to arbitrate, and thereby agree to waive any right to a trial by jury, include any statutory claims under local, state, or federal law, including, but not limited to, claims under Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age Discrimination  in  Employment Act  of  1967,  the  Older  Workers  Benefit  Protection  Act,  the Sarbanes-Oxley Act, the Worker Adjustment and Retraining Notification 

Act, the California Fair Employment and Housing Act, the Family and Medical Leave Act, the California Family Rights Act, the California Labor Code, claims of harassment, discrimination, and wrongful termination, and any statutory or common law claims.   The Company and Executive further understand that this agreement to arbitrate also applies to any disputes that the Company may have with Executive.

(b)       Procedure.   The Company and Executive agree that any arbitration will be administered by Judicial Arbitration & Mediation Services, Inc. ("JAMS"), pursuant to its Employment Arbitration Rules & Procedures (the "JAMS Rules").   The Arbitrator will have the power to decide any motions brought by any party to the arbitration, including motions for summary judgment and/or adjudication, motions to dismiss and demurrers, and motions for class certification, prior to any arbitration hearing. The Arbitrator will have the power to award any remedies available under applicable law, and the Arbitrator will award attorneys' fees and costs to the prevailing party, except as prohibited by law.  The Company will pay for any administrative or hearing fees charged by the Arbitrator or JAMS except that Executive will pay any filing fees associated with any arbitration that Executive initiates, but only so much of the filing fees as Executive would have instead paid had he filed a complaint in a court of law.  The Arbitrator will administer and conduct any arbitration in accordance with California law, including the California Code of Civil Procedure, and the Arbitrator will apply substantive and procedural California law to any dispute or claim, without reference to rules of conflict of law.   To the extent that the JAMS Rules conflict with California law, California law will take precedence.   The decision of the Arbitrator will be in writing. Any arbitration under this Agreement will be conducted in Santa Clara County, California.

(c)       Remedy.  Except as provided by the Act and this Agreement, arbitration will be the sole, exclusive, and final remedy for any dispute between Executive and the Company. Accordingly, except as provided for by the Act and this Agreement, neither Executive nor the Company will be permitted to pursue court action regarding claims that are subject to arbitration.

(d)        Administrative Relief.   Executive understand that this Agreement does not prohibit  him  or  her  from pursuing  any  administrative  claim  with  a  local,  state,  or  federal administrative body or government agency that is authorized to enforce or administer laws related to employment, including, but not limited to, the Department of Fair Employment and Housing, the Equal Employment Opportunity Commission, the National Labor Relations Board, or the Workers' Compensation Board.     This Agreement does, however, preclude Executive from pursuing court action regarding any such claim, except as permitted by law.

(e)      Voluntary Nature of Agreement.   Each of the Company and Executive acknowledges and agrees that such party is executing this Agreement voluntarily and without any duress or undue influence by anyone.  Executive further acknowledges and agrees that he or she has carefully read this Agreement and has asked any questions needed for him or her to understand the terms, consequences, and binding effect of this Agreement and fully understand it, including that Executive is waiving his or her right to a jury trial.  Finally, Executive agrees that he or she has been provided an opportunity to seek the advice of an attorney of his or her choice before signing this Agreement.

11.     Miscellaneous Provisions.

(a)       No Duty to Mitigate.  Executive will not be required to mitigate the amount of any  payment  contemplated   by this  Agreement,  nor  will  any  such  payment  be  reduced  by  any earnings that Executive may receive from any other source.

(b)       Waiver.     No  provision   of  this  Agreement   will  be  modified,  waived  or discharged  unless  the  modification,  waiver  or  discharge  is  agreed  to  in  writing  and  signed  by Executive and by an authorized officer of the Company (other than Executive).   No waiver by either party of any breach of, or of compliance with, any condition or provision of this Agreement by the other party will be considered a waiver of any other condition or provision or of the same condition or provision at another time.

(c)    Headings.  All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement.

(d)        Entire Agreement.    This Agreement constitutes the entire agreement of the parties hereto and supersedes in their entirety all prior representations, understandings, undertakings or agreements (whether oral or written and whether expressed or implied) of the parties with respect to the subject matter hereof.  No waiver, alteration, or modification of any of the provisions of this Agreement will be binding unless in writing and signed by duly authorized representatives of the parties hereto and which specifically mention this Agreement.

(e)        Choice of Law.  The validity, interpretation, construction and performance of this Agreement will be governed by the laws of the State of California (with the exception of its conflict of laws provisions).  Any claims or legal actions by one party against the other arising out of the  relationship   between  the  parties  contemplated   herein  (whether   or  not  arising  under  this Agreement) will be commenced or maintained in any state or federal court located in the jurisdiction where Executive  resides,  and Executive  and the  Company  hereby  submit  to the  jurisdiction  and venue of any such court.

(f)        Severability.  The invalidity or unenforceability of any provision or provisions of this Agreement will not affect the validity or enforceability of any other provision hereof, which will remain in full force and effect.

(g)       Withholding. All payments made pursuant to this Agreement will be subject to withholding of applicable income, employment and other taxes.

(h)       Counterparts.   This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

[Signature Page to Follow]

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by its duly authorized officer, as of the day and year set forth below.

	
				
	COMPANY
	 
	LINEAR TECHNOLOGY CORPORATION

	 
	 
	By:
	/s/ Lothar Maier

	 
	 
	Title:
	Chief Executive Officer

	 
	 
	 
	 

	EXECUTIVE
	 
	By:
	/s/ Steve Pietkiewicz

	 
	 
	Title:
	Vice President

[Signature page of the Change of Control Severance Agreement]

EXHIBIT A

    
AGREEMENT AND RELEASE OF ALL CLAIMS

_______________________("Employee")     and    Linear    Technology    Corporation     (the "Company")  desire  to  settle  fully and  finally all differences  between  them  based  on  any actions  or  omissions  to  date, whether  known  or  unknown,  including  but  not  limited  to disputes or potential disputes regarding the termination of Employee's employment and his alleged entitlement  to additional pay, bonuses or benefits.

In consideration  of the mutual  covenants  and  promises herein  contained  described  below, and other  good  and valuable consideration,  receipt of which is hereby acknowledged, it is hereby agreed by and between the parties as follows:

1.     This  Agreement  and  Release of All Claims ("Agreement")  and  compliance with  this  Agreement   shall  not  be  construed   as  an  admission  by  the  Company,  or  its employees or agents, or by Employee of any liability or wrongdoing whatsoever.

2.  Employee and the Company entered into a Change of Control Severance Agreement, effective as of [DATE] (the "Severance Agreement").

3.     In consideration   of the mutual covenants and promises set forth below, Employee will release all claims against the Company and the Company will release certain claims against Employee.

4.       Employee’s last date of employment [is/was] [DATE] (the "Termination Date”)

5.     In  accordance  with  the  terms  and  conditions  set  forth  in  the  Severance Agreement,  the  Company  will  provide  the  severance  payments  and  benefits  set  forth  in Section 3(a) of  the  Severance Agreement,  including: (a) 100%  of  Employee's  annual  base salary, in an aggregate amount  equal to $[amount], (b) 100% of Employee's  Bonus Amount (as such  term  is defined  in  the  Severance Agreement),  in  an  aggregate amount  equal  to $[amount],  (c) if  Employee   elects  continuation   coverage  pursuant   to  the  Consolidated Omnibus  Budget  Reconciliation  Act  of  1985,  as amended   ("COBRA")  within  the  time period  prescribed  pursuant  to COBRA for Employee and his eligible dependents, reimbursements  to  Employee   for   the   premiums   necessary  to  continue   group   health insurance  benefits  for Employee and his eligible dependents  under COBRA  as set forth  in the  Severance Agreement,  and  (d) accelerated vesting of  75%  of  the unvested  portion  of Employee's   Equity   Awards   (as  such   term   is  defined   in   the   Severance   Agreement) (collectively, the "Severance Benefits").  All Severance Benefits are subject to any applicable tax and other required withholdings and will be paid in 

accordance with the payment timing and other requirements as set forth in the Severance Agreement.  Except as set forth herein, each  Equity  Award  remains  subject   to  the  Company   equity  plan  and  Equity  Award agreement under which it was granted.

6.       Employee agrees that payment of the Severance Benefits is subject to the terms and conditions of the Severance Agreement, including but not limited to Section 4(a) ("Release of Claims Agreement") and Section 4(b) ("Confidential Information  and Invention Assignment Agreements")  (collectively, the "Employee  Obligations").   Employee agrees to comply with the Employee Obligations.   Employee agrees that he will not disclose the Company's trade secrets and confidential and proprietary information.   Employee's signature below  constitutes  Employee's  certification  under  penalty  of  perjury  that  Employee  has returned  all documents  and other items provided to Employee by the Company, developed or obtained by Employee in connection with Employee's  employment with the Company, or otherwise belonging to the Company.

7.      Employee may be eligible to apply for unemployment benefits with the State of California.  If Employee submits accurate information to the State, the Company agrees not to protest his unemployment claim.

8.     Employee agrees that he will not seek or accept employment with or at the Company, or where  work is required on Company  premises, whether  he is working as an employee of the Company or any other Company or as independent  contractor.   Employee also agrees that the Company is entitled to reject without cause any such application made by Employee or on his behalf or on behalf of any other person or entity.

9.      Employee  and the Company agree that both  parties will keep the terms and amounts  contained in this Agreement completely confidential and that both parties will not hereafter  disclose  any information   concerning  this Agreement  or  matters  covered  by it, provided  that  both  parties may make such  disclosures are as required  by law and  as are necessary   for   legitimate   law  enforcement    or   tax   compliance   purposes.       Employee understands that nothing in this Agreement will in any way limit or prohibit Employee from engaging for a lawful purpose in any Protected Activity.  For  purposes  of this Agreement, "Protected Activity" will mean filing a charge or complaint, or otherwise  communicating, cooperating, or participating with, any state, federal, or other governmental  agency, including the  Securities  and  Exchange  Commission,  the  Equal  Employment   Opportunity Commission, and the National Labor Relations Board.  Notwithstanding any restrictions set forth in this Agreement, Employee understands  that Employee is not required to obtain authorization  from the Company prior to disclosing information  to, or communicating with, such agencies, nor is Employee obligated to advise the Company as to any such disclosures or communications.   Notwithstanding,  in making any such disclosures or communications, Employee  agrees  to  take all reasonable  precautions  to  prevent  any unauthorized  use or disclosure of any information  that may constitute Company confidential info11nation to any parties other than the relevant government agencies.  Employee further understands that "Protected  Activity"  does  not  include  the  disclosure  

of  any  Company  attorney-client privileged communications,  and  that  any such  disclosure without  the  Company's  written consent will constitute a material breach of this Agreement.

10.     Employee understands that the settlement terms set forth in this Agreement are in lieu of any rights or claims that he may have against the Company, are in full accord, satisfaction and discharge of doubtful and disputed claims, and that he expressly intends to waive all rights under Section 1542 of the California Civil Code, which section has been fully explained to him and is fully understood by him, and which reads as follows:
A general release does not extend to claims which the creditor  does not  know  or  suspect  to  exist in  his  or  her  favor  at  the  time  of executing  the  release, which  if  known  by  him  or  her  must  have materially affected his or her settlement with the debtor.

11.     Notwithstanding the provisions of section 1542 above, Employee hereby irrevocably and unconditionally  releases and forever discharges the Company  and each and all of its officers, agents, directors, supervisors, employees, representatives, insurers, counsel and their successors and assigns, and all person action by, through, under, or in concert with any of them  from  any and all charges, complaints, claims, grievances, and liabilities of any kind  or  nature  whatsoever,  known  or  unknown,   suspected  or  unsuspected   (hereinafter referred to as "claim" or "claims") which Employee at any time heretofore  had or claimed to have or which Employee may have or claim to have regarding events that have occurred as of the date Employee signs this Agreement.

The  claims released  herein  include  without  limitation,  any and  all claims, whether  based on contract, personal injury, statute, tort, common  law or any other  basis or theory, including, without limitation, discrimination, harassment and retaliation claims under Title   VII   of   the   Civic  Rights   Act,   the   Americans   with   Disabilities   Act,   the   Age Discrimination in Employment Act, or any statutory and common  law claims in any manner incidental to Employee's employment with or at the Company or the te1mination of that employment.  This release extends to all claims, whether included in the list or not.

12.       Employee understands that this Agreement is in full accord, satisfaction and discharge of disputed claims.

13.      If any provision of this Agreement is deemed to be invalid or unenforceable by  any  court  or  administrative  agency  of  competent   jurisdiction,  the  remainder   of  the Agreement shall be enforceable.

14.Employee understands and agrees that he:

(a)    Has twenty one (21) calendar days within which to consider this
Agreement if he so chooses before executing it.

(b)    Has carefully read and understood all of the provisions of this Agreement.    
(c)    Is, through this Agreement, releasing the Company from any and all claims he may have against the Company.

(d)     Knowingly and voluntarily agrees to all of the terms set forth herein.

(e)     Knowingly and voluntarily intends to be legally bound by the same.

(f)    Was advised and hereby is advised in writing to consider the terms of this Agreement and to consult with an attorney of his or her choice prior to executing the Agreement.

(g)    Has a full seven (7) days following the execution of it to revoke it. Any such revocation must  be in writing and received by the head of the Human  Resources Department by the close of business (5:00 p.m.) on the seventh (7th) calendar day following execution.

(h)     Understands that rights or claims under the Age Discrimination in Employment Act of 1967, 29 U.S.C. 621 et seq., that may arise after the date this Agreement is executed are not waived.

15.       It is intended  that this Agreement  comply with, or be exempt  from, Code Section  409A and  the final regulations  and  official guidance  thereunder  ("Section  409A") and any ambiguities herein will be interpreted  to so comply and/or be exempt from Section 409A. Each payment and benefit to be paid or provided under this Agreement is intended to constitute a series of separate payments for purposes of Section 1.409A-2(b)(2) of the Treasury  Regulations.  In the event that it is necessary to avoid subjecting Employee  to an additional  tax  under  Section  409A, payment  of  all or  a portion  of  the  separation-related payments   or  benefits  payable  under   this  Agreement   and  any  other   separation-related deferred  compensation  (within the meaning of Section 409A) payable to Employee  will be delayed until the date that is six (6) months  and one (1) day following Employee's  separation from service (within the meaning of Section 409A), except that in the event of Employee's death,  any  such  delayed payments  will be  paid  as  soon  as practicable  after  the  date  of Employee's  death.  To the extent subject to Section 409A, any reimbursements  set forth in Section 5 will be subject to the following conditions:  (i) the reimbursements  provided in a taxable year of Employee  will not affect expenses eligible for reimbursement  in any other taxable  year  of  Employee,   (ii) no  reimbursement   will  be  made  after   the  last  day  of Employee's   taxable  year  immediately  following  Employee's   taxable  year  in  which   the expense  was  incurred,   and  (iii) Employee's   right   to  reimbursement   is  not   subject  to liquidation  or  exchange  for  another  benefit.    In  no  event  will the  Company  reimburse Employee  for any taxes that  may be imposed  on  Employee  or other  costs incurred  as a result of Section 409A.

16.       Employee represents and warrants  that he has the mental capacity to enter into this Agreement.   The  parties understand  and agree that this Agreement  sets forth  the entire  agreement   between   the  parties  hereto   and   fully  supersedes   any  and  all  prior agreements or understandings, written or oral, pertaining to the subject matter hereof.  This Agreement shall be construed under applicable laws. Any disputes over the interpretation of the terms of the Agreement shall be resolved through binding arbitration  before a mutually agreeable arbitrator.

[Remainder of Page Intentionally Left Blank]

PLEASE   READ   CAREFULLY.     THIS   SETTLEMENT AGREEMENT AND GENERAL RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

By signature  below,  the  parties  and  each  of  them  assent  to  each  of  the  terms  of  this
Agreement.

	
				
	Dated:
	 
	 
	 

	 
	 
	 
	 

	 
	 
	 
	 

	Dated:
	 
	 
	 

	 
	 
	 
	Linear Technology Corporation

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