Document:

exv10w21

 

Exhibit 10.21

Amendment No. 4 to the 2000 Employee Stock Purchase Plan

       It is proposed that Section 13(a) of the 2000 Employee Stock Purchase Plan shall be restated
in its entirety as follows:

13. STOCK

(a) Subject to adjustment as provided in Section 19, the maximum number of Shares which
shall be made available for sale under the Plan shall be 2,500,000 Shares or such lesser
number of Shares as is determined by the Board. If the Board determines that, on a given
Purchase Date, the number of shares with respect to which options are to be exercised may
exceed (i) the number of shares of Common Stock that were available for sale under the Plan
on the Offering Date of the applicable Offering Period, or (ii) the number of shares
available for sale under the Plan on such Purchase Date, the Board may in its sole
discretion provide (x) that the company shall make a pro rata allocation of the Shares of
Common Stock available for purchase on such Offering Date or Purchase Date, as applicable,
in as uniform a manner as shall be practicable and as it shall determine in its sole
discretion to be equitable among all participants exercising options to purchase Common
Stock on such Purchase Date, and continue all Offering Periods then in effect, or (y) that
the company shall make a pro rata allocation of the shares available for purchase on such
Offering Date or Purchase Date, as applicable, in as uniform a manner as shall be
practicable and as it shall determine in its sole discretion to be equitable among all
participants exercising options to purchase Common Stock on such Purchase Date, and
terminate any or all Offering Periods then in effect pursuant to Section 20 below. The
company may make pro rata allocation of the Shares available on the Offering Date of any
applicable Offering Period pursuant to the preceding sentence, notwithstanding any
authorization of additional Shares for issuance under the Plan by the company’s stockholders
subsequent to such Offering Date.

       Capitalized terms not defined herein have the meaning set forth in the 2000 Employee Stock
Purchase Plan.

       To record the due adoption of the foregoing amendment, Therma-Wave, Inc. has caused the
execution hereof by its duly authorized officer.

Therma-Wave, Inc.

/s/ L. Ray Christie

By: L. Ray Christie

Title: Senior Vice President, Chief Financial Officer and Secretaryexv10w36

 

Exhibit 10.36

COMPENSATION FOR OUTSIDE BOARD MEMBERS

(As approved by the Compensation Committee & Board 3/25/04)

Proposed

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Attend in	 	 	Attend by	 
	 	 	Now	 	 	Person	 	 	Phone	 
	Annual Retainer (Base)
	 	$	15,000	 	 	$	15,000	 	 	 	 	 
	Committee Chairman (extra)
	 	 	 	 	 	 	2,500	 	 	 	 	 
	Committee Secretary (extra)
	 	 	 	 	 	 	2,500	 	 	 	 	 
	Regular Meeting Fee
	 	$	1,000	 	 	 	2,500	 	 	$	1,500	 
	Spec. Committee or Board mtg
	 	 	 	 	 	 	 	 	 	 	 	 
	(if separate from regular BOD mtg)
	 	 	 	 	 	 	1,500	 	 	 	500	 

	 	 	 	 	 
	Options Granted Upon Joining BOD
	 	 	20,000	 
	Option Grants yearly thereafter
	 	 	10,000	 

Total likely Board Compensation (calculated)

	 	 	 	 	 	 	 	 	 
	 	 	Min	 	 	Max	 
	Base Retainer
	 	$	15,000	 	 	$	15,000	 
	Committee Chairman or Secretary (extra)
	 	 	0	 	 	 	2,500	 
	Meeting fees (4 to 6 x $2,500)
	 	 	10,000	 	 	 	15,000	 
	Committee meetings (1 to 4 x $1,500)
	 	 	1,500	 	 	 	6,000	 
	Special BOD or Committee Meetings (2)
	 	 	1,000	 	 	 	3,000	 
	 
	 	 	 	 	 	 
	 
	 	$	27,500	 	 	$	41,500exv10w37

 

Exhibit 10.37

Employment Arrangements of Named Executive Officers

     We have no current employment agreements with Messrs. Opsal, Renner or Shiau, three of
our named executive officers for fiscal year 2005. Mr. Shiau’s employment with the company
ended in April 2005.

     Under their respective employment arrangements, the named executive officers currently
receive:

	 	•	 	An annual base salary subject to review by the board and our president or chief
executive officer. Their base salaries as of May 1, 2005 were as follows:

	 	 	 	 	 
	Name	 	Base Salary	 
	Jon Opsal
	 	$	254,592	 
	Brian Renner
	 	$	190,000	 

	 	•	 	An annual bonus based upon our achievement of operating targets and the attainment
of individual goals by each named executive, each to be determined by the board and our
president or chief executive officer on an annual basis;
	 
	 	•	 	Customary fringe benefits including automobile allowances, life insurance and a
cafeteria benefits plan; and
	 
	 	•	 	Stock options as determined from time to time by our board of directors.

Due to a restructuring of our management in April 2005, Mr. Renner is no longer an executive
officers of the company although he continues to be an employee.

     Certain of the stock option agreements with our named executive officers provide that in the
event of a change of control, the executive may be entitled to immediate vesting of his otherwise
unvested stock options.

Employment Arrangement of Papken Der Torossian

     Papken Der Torossian is an employee of the company and receives $200,000 a year for his
services as Chairman of the Board. In lieu of providing Mr. Der Torossian medical insurance
benefits, the company reimburses him for the medical insurance premiums he pays. This amount
totaled $10,160 for the 2005 fiscal year.

     Our non-employee directors generally receive an initial stock option grant of 20,000 shares
and yearly grants of 10,000 shares, but Mr. Der Torossian received an initial stock option grant in
2003 of 400,000 shares and a stock option grant in fiscal year 2005 of 100,000 shares.exv10w38

 

Exhibit 10.38

Therma-Wave, Inc.

JOSEPH PASSARELLO EMPLOYMENT AGREEMENT

     This Agreement is entered into as of April l1, 2005, (the “Effective Date”) by and between
Therma-Wave, Inc. (the “Company”), and Joseph Passarello (“Executive”).

     1. Duties and Scope of Employment.

          (a) Position and Duties. As of the Effective Date, Executive will serve as Senior
Vice President and Chief Financial Officer of the Company. Executive will render such business and
professional services in the performance of his duties, consistent with Executive’s position within
the Company, as shall reasonably be assigned to him by the President and CEO and/or as are
contemplated by the Company’s bylaws. The period of Executive’s employment under this Agreement is
referred to herein as the “Employment Term.”

          (b) Obligations. During the Employment Term, Executive will perform his duties
faithfully and to the best of his ability and will devote his full business efforts and time to the
Company. For the duration of the Employment Term, Executive agrees not to actively engage in any
other employment, occupation or consulting activity for any direct or indirect remuneration without
the prior approval of the Board.

     2. At-Will Employment. The parties agree that Executive’s employment with the Company
will be “at-will” employment and may be terminated at any time with or without cause or notice,
subject to the provisions of paragraph 9 of this Agreement below. Executive understands and agrees
that neither his job performance nor promotions, commendations, bonuses or the like from the
Company give rise to or in any way serve as the basis for modification, amendment, or extension, by
implication or otherwise, of his employment with the Company.

     3. Place of Employment. The Executive’s services shall be performed at the Company’s
principal executive offices in Fremont, California. The parties acknowledge, however, that the
Executive may be required to travel in connection with the performance of his duties hereunder.

     4. Compensation.

          (a) Base Salary. For all services to be rendered by the Executive pursuant to this
Agreement, the Company agrees to pay the Executive during the Employment Period a base salary (the
“Base Salary”) at a rate of $4,517.00 per week. The Base Salary shall be paid in periodic
installments in accordance with the Company’s regular payroll practices. The Company agrees to
review the Executives job performance and Base Salary ninety (90) days after the effective date of
this Agreement. Thereafter, the Company agrees to review the Executive’s job performance and Base
Salary at least annually as of the payroll payment date nearest each anniversary of the Effective

 

 

Date (beginning in 2006) and to make such changes therein as deemed appropriate by the
President and CEO, and as the Board of Directors may approve.

          (b) Bonus. Beginning with the Company’s 2005 fiscal year and for each fiscal year
thereafter during the Employment Period, the Executive will be eligible to receive an annual bonus
(the “Bonus”) of up to 35% of the Executive’s Base Salary for such fiscal year based upon certain
financial and individual performance criteria to be determined by the President and CEO and the
Board of Directors including revenue and profitability targets and other organizational milestones.

     The Bonus payable hereunder shall be payable quarterly in accordance with the Company’s normal
practices and policies and shall be determined with respect to the first three quarters of each
fiscal year on the basis of unaudited quarterly financial statements and, with respect to the
fourth quarter, on the basis of audited financial statements. The earned Bonus shall be paid
within 30 days after such statements have been finally delivered to the Board of Directors or as
otherwise agreed by the Board of Directors and the Executive.

          (c) Stock Option.

               (i) Initial Option. Effective as of the Effective Date, the Company shall grant the
Executive an option (the “Initial Option”) to purchase 150,000 shares of the Company’s common stock
(the “Initial Option Shares”) at the closing price per share the day prior to the Board of
Directors meeting. The Initial Option shall vest as described in paragraph 4(c)(ii) below.

               (ii) Vesting. Subject to the accelerated vesting provisions set forth herein, the
Option Shares will vest as to 25% of the shares subject to the Option one year after the date of
grant, and as to 1/48th of the shares subject to the Option monthly thereafter, so that the Option
will be fully vested and exercisable four (4) years from the date of grant, subject to Executive’s
continued service to the Company on the relevant vesting dates. In addition, in the event that
Executive’s employment is terminated by the Company without Cause (as defined below) or Employee
terminates his employment for Good Reason (as defined below), or Executive is assigned to a
position, without his consent, that is not equivalent to his current position as Vice President and
Chief Financial Officer, within six months after a Change in Control (as defined below), the
unvested portion of the Initial Option and additional options if any, shall automatically
accelerate and the Executive shall have the right to exercise all or any portion of such Options,
in addition to any portion of the Option(s) exercisable prior to such event.

     For purposes of this Agreement, the term “Change of Control” shall mean the occurrence of any
of the following events:

                    (1) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange
Act of 1934, as amended (the “Exchange Act”)) is or becomes the “beneficial owner” (as defined in
Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company
representing forty percent (40%) or more of the total voting power represented by the Company’s
then outstanding voting securities; provided, however, that a Change in Control shall be deemed to
occur in the event any one individual becomes the “beneficial owner” (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the

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Company representing thirty percent (30%) or more of the voting power represented by the
Company’s then outstanding voting securities; or

                    (2) A change in the composition of the Board of Directors of the Company occurring within a
two-year period, as a result of which fewer than a majority of the directors are Incumbent
Directors. “Incumbent Directors” shall mean directors who either (A) are directors of the Company
as of the date hereof, or (B) are elected, or nominated for election, to the Board of Directors of
the Company with the affirmative votes of at least a majority of the Incumbent Directors at the
time of such election or nomination (but shall not include an individual whose election or
nomination is in connection with an actual or threatened proxy contest relating to the election of
directors to the Company); or

                    (3) A merger or consolidation of the Company with any other corporation, other than a merger
or consolidation which would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by being converted into
voting securities of the surviving entity) at least seventy percent (70%) of the total voting power
represented by the voting securities of the Company or such surviving entity outstanding
immediately after such merger or consolidation, or the stockholders of the Company approve a plan
of complete liquidation of the Company or an agreement for the sale or disposition by the Company
of all or substantially all the Company’s assets.

               (iii) Option Provisions. The Initial Option and each additional option, if any, shall
be granted under the Company’s 2000 Equity Incentive Plan Stock Option Plan (the “Stock Plan”) and,
except as expressly provided otherwise in this paragraph 4, shall be subject to the terms and
conditions of the Stock Plan and form of option agreement; provided, however, that the Company’s
Board of Directors may, in its discretion, grant the Initial Option and/or the additional
option(s), if any, outside of the Stock Plan, and any such Options shall include such other terms
as the Board of Directors may specify that are not inconsistent with the terms hereof.

          (d) Car Allowance. During the Employment Period, the Executive shall receive a car
allowance in the amount of $900.00 per month. This payment shall be made to employee on the first
payroll check of each month.

     5. Employee Benefits. During the Employment Period, the Executive shall be entitled to
participate in employee benefit plans or programs of the Company, if any, to the extent that his
position, tenure, salary, age, health and other qualifications make him eligible to participate,
subject to the rules and regulations applicable thereto. The Company reserves the right to cancel
or change the benefit plans and programs it offers to its employees at any time.

     6. Vacation. Executive will be entitled to accrue PTO at the rate of 120 hours per
year in accordance with the Company’s vacation policy, with the timing and duration of specific
vacations mutually and reasonably agreed to by the parties hereto.

     7. Expenses. The Executive shall be entitled to prompt reimbursement by the Company
for all reasonable ordinary and necessary travel, entertainment, and other expenses incurred by the
Executive during the Employment Period (in accordance with the policies and procedures established
by the Company for its senior executive officers) in the performance of his duties and

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responsibilities under this Agreement; provided, that the Executive shall properly account for
such expenses in accordance with Company policies and procedures. The parties agree that for
purposes of this paragraph, the Executive’s air travel shall be coach class domestically and
business class internationally.

     8. Other Activities. The Executive shall devote substantially all of his working time
and efforts during the Company’s normal business hours to the business and affairs of the Company
and its subsidiaries and to the diligent and faithful performance of the duties and
responsibilities duly assigned to him pursuant to this Agreement, except for vacations, holidays
and sickness. However, the Executive may devote a reasonable amount of his time to civic,
community, or charitable activities and, with the prior written approval of the Board of Directors,
to serve as a director of other corporations and to other types of business or public activities
not expressly mentioned in this paragraph.

     9. Severance.

          (a) Involuntary Termination Not for Cause. If Executive’s employment with the Company
terminates other than voluntarily, without Good Reason (as defined herein) or for Cause (as defined
herein), and Executive signs and does not revoke the Company’s severance and release agreement,
then, subject to paragraph 11 of this Agreement, Executive shall be entitled to continuing
payments of severance pay (less applicable withholding taxes) at a rate equal to his Base Salary
rate, as then in effect, for a period of six (6) months from the date of such termination, to be
paid periodically in accordance with the Company’s normal payroll policies; and (ii) any unvested
portion of the Option shall immediately vest and become exercisable.

          (b) Voluntary Termination; Termination for Cause. If Executive’s employment with the
Company terminates voluntarily by Executive, without Good Reason or for Cause by the Company, then
(i) all vesting of the Option will terminate immediately and all payments of compensation by the
Company to Executive hereunder will terminate immediately (except as to amounts already earned),
and (ii) Executive will only be eligible for severance benefits in accordance with the Company’s
established policies as then in effect.

          (c) Involuntary Termination Not for Cause within Six (6) Months after Change of
Control. If, within six (6) months following a Change of Control, Executive’s employment with
the Company terminates other than voluntarily, without Good Reason (as defined herein) or for Cause
(as defined herein), or because there is no position available in the new company equivalent to
Executive’s current position of Vice President and Chief Financial Officer, and Executive signs and
does not revoke the Company’s severance and release agreement, then, subject to paragraph 11,
Executive shall be entitled to continuing payments of severance pay (less applicable withholding
taxes) at a rate equal to his Base Salary rate, as then in effect, for a period of twelve (12)
months from the date of such termination, to be paid periodically in accordance with the Company’s
normal payroll policies; and (ii) any unvested portion of the Option shall immediately vest and
become exercisable.

          (d) Cause. For all purposes under this Agreement, “Cause” shall mean (i) willful
failure by the Executive to substantially perform his duties hereunder, other than a failure
resulting from the Executive’s complete or partial incapacity due to physical or mental illness or
impairment,

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(ii) a willful act by the Executive which constitutes gross misconduct and which is injurious
to the Company, (iii) a willful breach by the Executive of a material provision of this Agreement,
or (iv) a material and willful violation of a federal or state law or regulation applicable to the
business of the Company. No act, or failure to act, by the Executive shall be considered “willful”
unless committed without good faith without a reasonable belief that the act or omission was in the
Company’s best interest. No compensation or benefits will be paid or provided to the Executive
under this Agreement on account of a termination for Cause, or for periods following the date when
such a termination of employment is effective. The Executive’s rights under the benefit plans of
the Company shall be determined under the provisions of those plans.

          (e) Good Reason. For purposes of this Agreement “Good Reason” shall mean the
occurrence (without Executive’s consent) of any one of the following acts by the Company, or
failure by the Company to act: (i) the assignment to Executive of duties that represent a
substantial and material adverse alteration in the nature or status of his responsibilities as a
senior executive officer of the Company, except in the event Executive is unable to or fails to
perform his normal full-time duties and responsibilities with the Company as a result of incapacity
due to physical or mental illness or incapacity; (ii) a reduction in the Base Salary as in effect
on the date hereof; (iii) the relocation of the Company’s principal executive offices to a location
outside of the San Francisco Bay Area (which includes the counties of San Francisco, Alameda, Santa
Clara, Contra Costa, San Mateo and Marin) or the Company’s requiring Executive to be based anywhere
other than the Company’s principal executive offices (but not including required travel on Company
business); or (iv) the wrongful failure by the Company to pay Executive any portion of the Base
Salary, Bonus or Benefits, or to pay to deferred compensation or benefits program of the Company,
within 45 days of the date such Base Salary, Bonus, compensation or Benefit is due.

     10. Proprietary Information. During the Employment Period and thereafter, the
Executive shall not, without the prior written consent of the Board of Directors, disclose or use
for any purpose (except in the course of his employment under this Agreement and in furtherance of
the business of the Company or any of its affiliates or subsidiaries) any confidential information
or proprietary data of the Company. As an express condition of the Executive’s employment with the
Company, the Executive agrees to execute confidentiality agreements as requested by the Company,
including but not limited to the Company’s standard Proprietary Information and Employee Inventions
Agreement (the “Confidentiality Agreement”), which is attached hereto as Exhibit A and incorporated
herein by reference.

     11. Non-Solicitation.

          (a) Non-Solicitation. During the twelve (12) months after the termination of
Executive’s employment with the Company for any reason, Executive agrees and acknowledges that
Executive will not either directly or indirectly solicit, induce, attempt to hire, recruit,
encourage, take away, hire any employee of the Company or cause an employee to leave his or her
employment either for Executive or for any other entity or person.

          (b) Conditional Nature of Severance Payments. Executive agrees and acknowledges that
Executive’s right to receive the severance payments set forth in paragraph 9 (to the extent
Executive is otherwise entitled to such payments) shall be conditioned upon compliance with the
restriction in this paragraph 11.

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     12. Right to Advice of Counsel. The Executive acknowledges that he has consulted with
counsel and is fully aware of his rights and obligations under this Agreement.

     13. Successors. The Company will require any successor (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of the Company to expressly assume and agree to perform this Agreement in the same manner
and to the same extent that the Company would be required to perform it if no such succession had
taken place. Failure of the Company to obtain such assumption agreement prior to the effectiveness
of any such succession shall entitle the Executive to the benefits described in paragraph 9 of this
Agreement, subject to the terms and conditions therein.

     14. Assignment. This Agreement and all rights under this Agreement shall be binding
upon and inure to the benefit of and be enforceable by the parties hereto and their respective
personal or legal representatives, executors, administrators, heirs, distributees, devisees,
legatees, successors and assigns. This Agreement is personal in nature, and neither of the parties
to this Agreement shall, without the written consent of the other, assign or transfer this
Agreement or any right or obligation under this Agreement to any other person or entity; except
that the Company may assign this Agreement to any of its affiliates or wholly-owned subsidiaries,
provided, that such assignment will not relieve the Company of its obligations hereunder.
If the Executive should die while any amounts are still payable to the Executive hereunder, all
such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of this
Agreement to the Executive’s devisee, legatee, or other designee or, if there be no such designee,
to the Executive’s estate.

     15. Absence of Conflict. The Executive represents and warrants that his employment by
the Company as described herein shall not conflict with and will not be constrained by any prior
employment or consulting agreement or relationship.

     16. Notices. All notices, requests, demands and other communications called for
hereunder shall be in writing and shall be deemed given (i) on the date of delivery, or, if
earlier, (ii) one (1) day after being sent by a well established commercial overnight service, or
(iii) three (3) days after being mailed by registered or certified mail, return receipt requested,
prepaid and addressed to the parties or their successors at the following addresses, or at such
other addresses as the parties may later designate in writing:

	 	 	 	 	 
	 

	 	If to the Executive:
	 	Joseph J. Passarello
	 

	 	 	 	63 Morton Street
	 

	 	 	 	Palo Alto, CA 94303
	 
	 	 	 	 
	 

	 	If to the Company:
	 	Boris Lipkin
	 

	 	 	 	c/o Therma-Wave
	 

	 	 	 	1250 Reliance Way
	 

	 	 	 	Fremont, CA 94539-6100

or to such other address or the attention of such other person as the recipient party has
previously furnished to the other party in writing in accordance with this paragraph.

     17. Waiver. Failure or delay on the part of either party hereto to enforce any right,
power, or privilege hereunder shall not be deemed to constitute a waiver thereof. Additionally, a

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waiver by either party or a breach of any promise hereof by the other party shall not operate
as or be construed to constitute a waiver of any subsequent waiver by such other party.

     18. Severability. Whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid, illegal or unenforceable in any respect under any
applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will
not affect any other provision or any other jurisdiction, but this Agreement will be reformed,
construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision
had never been contained herein.

     19. Arbitration.

          (a) Arbitration. In consideration of Executive’s employment with the “Company”, its
promise to arbitrate all employment-related disputes and Executive’s receipt of the compensation,
pay raises and other benefits paid to Executive by the Company, at present and in the future,
Executive agrees that any and all controversies, claims, or disputes with anyone (including the
Company and any employee, officer, director, shareholder or benefit plan of the Company in their
capacity as such or otherwise) arising out of, relating to, or resulting from Executive’s
employment with the Company or the termination of Executive’s employment with the Company,
including any breach of this agreement, shall be subject to binding arbitration under the
arbitration rules set forth in California Code of Civil Procedure Section 1280 through 1294.2,
including Section 1283.05 (the “Rules”) and pursuant to California law. Disputes which Executive
agrees to arbitrate, and thereby agrees to waive any right to a trial by jury, include any
statutory claims under 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 California
Fair Employment and Housing Act, the California Labor Code, claims of harassment, discrimination or
wrongful termination and any statutory claims. Executive further understands that this agreement
to arbitrate also applies to any disputes that the Company may have with employee.

          (b) Procedure. Executive agrees that any arbitration will be administered by the
American Arbitration Association (“AAA”) and that a neutral arbitrator will be selected in a manner
consistent with its national rules for the resolution of employment disputes. The arbitration
proceedings will allow for discovery according to the rules set forth in the National Rules for the
Resolution of Employment Disputes. Executive agrees that the arbitrator shall have the power to
decide any motions brought by any party to the arbitration, including motions for summary judgment
and/or adjudication and motions to dismiss and demurrers, prior to any arbitration hearing.
Executive agrees that the arbitrator shall issue a written decision on the merits. Executive also
agrees that the arbitrator shall have the power to award any remedies, including attorneys’ fees
and costs, available under applicable law. Executive understands the Company will pay for any
administrative or hearing fees charged by the arbitrator or AAA except that Executive shall pay the
first $200.00 of any filing fees associated with any arbitration Executive initiates. Executive
agrees that the arbitrator shall administer and conduct any arbitration in a manner consistent with
the rules and that to the extent that the AAA’s National Rules for the Resolution of Employment
Disputes conflict with the rules, the rules shall take precedence.

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          (c) Remedy. Except as provided by the rules, arbitration shall be the sole, exclusive
and final remedy for any dispute between Executive and the Company. Accordingly, except as
provided for by the rules, neither Executive nor the Company will be permitted to pursue court
action regarding claims that are subject to arbitration. Notwithstanding, the arbitrator will not
have the authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator
shall not order or require the Company to adopt a policy not otherwise required by law which the
Company has not adopted.

          (d) Availability of injunctive relief. In accordance with Rule 1281.8 of the
California Code of Civil Procedure, Executive agrees that any party may also petition the court for
injunctive relief where either party alleges or claims a violation of the employment, confidential
information, invention assignment agreement between Executive and the Company or any other
agreement regarding trade secrets, confidential information, nonsolicitation or Labor Code §2870.
In the event either party seeks injunctive relief, the prevailing party shall be entitled to
recover reasonable costs and attorneys fees.

          (e) Administrative relief. Executive understands that this agreement does not
prohibit Executive from pursuing an administrative claim with a local, state or federal
administrative body such as the department of fair employment and housing, the equal employment
opportunity commission or the workers’ compensation board. This agreement does, however, preclude
Executive from pursuing court action regarding any such claim.

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

     20. Integration. This Agreement, together with the Option Plan, Option Agreement and
the Proprietary Information and Employee Inventions Agreement represents the entire agreement and
understanding between the parties as to the subject matter herein and supersedes all prior or
contemporaneous agreements whether written or oral. No waiver, alteration, or modification of any
of the provisions of this Agreement will be binding unless in writing and signed by the Company.

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

     22. Applicable Law. This Agreement shall be governed by and construed in accordance
with the internal substantive laws, and not the choice of law rules, of the State of California.
Executive hereby consents to the exclusive personal jurisdiction and venue of the courts of the
federal and state courts in the State of California.

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     23. Counterparts. This Agreement may be executed in one or more counterparts, none of
which need contain the signature of more than one party hereto, and each of which shall be deemed
to be an original, and all of which together shall constitute a single agreement.

     24. Tax Withholding. All payments made pursuant to this Agreement will be subject to
withholding of applicable taxes.

     25. Acknowledgment. Executive acknowledges that he has had the opportunity to discuss
this matter with and obtain advice from his private attorney, has had sufficient time to, and has
carefully read and fully understands all the provisions of this Agreement, and is knowingly and
voluntarily entering into this Agreement.

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     IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the
Company by their duly authorized officers, as of the day and year first above written.

	 	 	 	 	 	 	 
	Therma-Wave, Inc.:	 	 	 	 
	Boris Lipkin	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Boris Lipkin
	 	 	 	Date: 6/21/05
	 

	 	 	 	 	 	 
	 
	Title:

	 	President & CEO	 	 	 	 
	 
	 	 	 	 	 	 
	EXECUTIVE:	 	 	 	 
	 
	 	 	 	 	 	 
	     /s/ Joseph J. Passarello	 	 	 	Date: 6/20/05
	 	 	 	 	 
	Joseph J. Passarello	 	 	 	 

-10-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}]]