Document:

Form of Executive Severance Policy Designation and Agreement

 Exhibit 10.04 
  

					
	

	 		 	

 Executive Severance Policy Designation and Agreement 
 [Date] 
 [Name] 
 [Address] 
 Dear
                        : 
 I am pleased to inform you that you have been designated as a participant in Fairchild Semiconductor’s Executive Severance Policy. A copy of the policy is attached. The policy provides significantly enhanced
severance benefits in the event your employment is terminated by the company for any reason other than for “Cause” (as defined in the policy). To participate in the Executive Severance Policy, you must agree to be bound by its terms and
conditions, including all of the restrictions applicable to you under the policy. 
 Please sign against your name where indicated below and
initial a copy of Exhibit 1, which is attached and is a part of this letter agreement, and return this letter to me. By signing this letter agreement you will be entitled to the benefits under the policy, and agree to be bound by the terms and
conditions of the policy, including the restrictions set forth in Exhibit 1. 
 Yours very truly, 
  

			
	FAIRCHILD SEMICONDUCTOR CORPORATION
		
	By:	 	 /s/    KEVIN B.
LONDON        

		 	Kevin B. London
		 	Senior Vice President., Human Resources

 AGREED: 

	
	  

	[Name of Executive]

 Attachments: 
 Executive Severance Policy 
 Exhibit 1 

					
	

	 		 	

 EXHIBIT 1 — Agreement Not to Solicit 
 This Exhibit 1 is a attached to and made a part of the Letter Agreement pursuant to which the executive who subject to this Exhibit 1 (the
“Executive”) has been designated to participate in the Fairchild Executive Severance Policy (the “Policy”). In consideration for Fairchild Semiconductor Corporation’s (the “Company’s”) agreement to provide the
benefits under the Policy, the receipt and sufficiency of which consideration is acknowledged and agreed, the Executive agrees as follows: 
 (1) The Executive is employed in a key management capacity with the Company, that the Company is engaged in a highly competitive business and that the success of the Company’s business in the marketplace depends upon its goodwill and
reputation for quality and dependability. As a result, reasonable limits may be placed on the Executive as provided in this Exhibit 1 so as to protect and preserve the Company’s legitimate business interests and goodwill. 
 (3) During the Restricted Period (as defined below), the Executive will not, directly or indirectly, through any other entity, hire or attempt to hire,
any officer, director, consultant, executive or employee of the Company or any of its affiliates during his or her engagement with the Company or such affiliate. During the Restricted Period, the Executive will not call upon, solicit, divert or
attempt to solicit or divert from the Company or any of its affiliates any of their customers or suppliers or potential customers or suppliers of whose names he was aware during his term of employment (other than customers or suppliers or potential
customers or suppliers contacted by the Executive solely in connection with a business that is not Competitive with the Company). 
 (4) The
“RESTRICTED PERIOD” means the period during which Executive is employed by the Company and the following 12 months. 
 (5) The
validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Maine, irrespective of Maine’s choice-of-law principles. 
  

			
	 Company Initial                                   
   
	 	 Executive InitialPost Resignation Consulting Agreement with Izak Bencuya

 Exhibit 10.49 
  

					
	

	 	207 775 8100 Tel	 	 Fairchild Semiconductor
 82 Running Hill Road
 South Portland, ME 04106
  
 www.fairchildsemi.com

 24 October 2007 
 To Izak Bencuya 
 Re: Post-resignation consulting 
 Dear Izak: 
 Further to our discussions, this letter sets forth an agreement between you and Fairchild Semiconductor Corporation
(the “Company”) regarding the terms of the consulting arrangement between you and the Company following your resignation which became effective on 19 October 2007 (your “Resignation Date”). Accordingly, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, you and the Company agree as follows: 
 1. Consulting Arrangement. 
 For nine months after your Resignation Date (the “Consulting
Period”), you will serve as a non-employee consultant for the Company, acting as an advisor to the President and Chief Executive Officer and/or his designees in connection with specific strategic matters identified to you by the President and
CEO in writing at or before the signing of this letter agreement. To the extent those matters are resolved to the Company’s satisfaction before the end of the Consulting Period, your consulting obligations under this letter agreement will be
deemed to have been satisfied in full, no additional consulting services will be required from you, and you will continue to receive the full consulting compensation subject to the other terms and conditions of this letter agreement. 
 2. Compensation; Conditions. 
 (a) Consulting Compensation. In exchange for the consulting services to be provided under this agreement, the Company will pay you a total of $125,000 in cash, payable in one lump sum within ten business days following your
Resignation Date, without conditions (other than the providing the consulting services). 
 (b) Additional Financial
Incentive. The Company will pay you an additional $75,000, in one lump sum, within five business days following the first anniversary of your Resignation Date, if 
 (i) you perform your consulting duties diligently and in good faith, in accordance with the terms of this letter and to the reasonable
satisfaction of the Company; and 
 (ii) until the end of such one-year period, you are not employed by any of the entities
identified in writing to you by the President and CEO before this letter agreement is executed. The phrase “employed by” means all forms of direct or indirect employment or service, and includes service as a regular employee or officer,
contractor, consultant, principal, agent, advisor, stockholder, investor, creditor, partner or in another capacity, whether for the specified company or one of its affiliated companies. 
 If any of the above conditions is not satisfied at the time the second payment is due (or has failed to be satisfied before the time that payment is due),
then the Company will not be required to pay you the second installment. For the avoidance of doubt, this agreement does not require you not to be employed by the specified companies; however, if you are so employed, then the company’s payment
obligation will be cancelled. 

 Izak Bencuya 
 24 October 2007 
 Page 2 of 2 
 (c) Taxes. You will be solely responsible for any and all income, payroll, Social Security, Medicare, unemployment or other tax obligations under this agreement, and the Company will make any required
withholdings. 
 3. Acknowledgements and Other Agreements; Miscellaneous 
 This letter agreement is the only agreement between you and the Company governing the subject matter hereof. Both parties acknowledge that your
resignation from the company was made voluntarily and that the compensation under this agreement is consulting compensation and is not required to be paid to you under any other agreement or company policy. Neither you nor the Company has relied on
any representations or statements by the other party which are not specifically set forth in this agreement in entering into this agreement. Any modification of this letter agreement can be made only in a writing signed by you and the Company. This
agreement will be governed by and construed in accordance with the laws of the State of Maine, as applied to agreements entered into between residents of Maine and to be performed entirely within Maine, without regard to principles of conflict of
laws. Any dispute or controversy arising out of this agreement will be addressed exclusively by the state and federal courts sitting in Portland, Maine, and both parties agree to be subject to the jurisdiction of those courts and to the venue of
those courts. This agreement may be executed in counterparts, and each counterpart will have the same force and effect as an original and will constitute an effective, binding agreement on the part of each of the undersigned. Executed copies of this
agreement delivered by fax or electronic transmission will be effective for all purposes. 
 Please indicate your agreement to the above
terms and conditions by signing where indicated below and returning the signed copy to the undersigned officer of the Company. 
 Yours truly, 
  

			
	FAIRCHILD SEMICONDUCTOR CORPORATION
		
	By:	 	 /s/    PAUL D.
DELVA        

		 	Paul D. Delva
		 	Sr. Vice President and General Counsel

 AGREED: 
  

	
	 /s/    IZAK
BENCUYA        

	Izak BencuyaAgreement between Fairchild Semiconductor Corporation and Thomas A. Beaver

 Exhibit 10.50 
  

					
	

	 	207.775.8100 Tel	 	 Fairchild Semiconductor
 82 Running Hill Road
 South Portland, ME 04106
  
 www.fairchildsemi.com

 December 3, 2007 
 Mr. Thomas A. Beaver 
 Dear Tom: 
 As we have discussed in connection with your planned retirement, given the importance to the company of your position and to assist in the transition of the sales organization, Mark Thompson and I feel it is important to agree in writing to
the consulting and transitional arrangements described below. We believe they are consistent with the ideas you and I have discussed, in order to sustain the quality of the sales organization you have worked to build over the years. 
 Accordingly, this letter sets forth a binding agreement between you and Fairchild Semiconductor Corporation (the “company”) regarding
consulting services you will provide to the company following your retirement. You and the company agree as follows: 
 1. Existing
Employment. You will continue as an Executive Vice President, up to and including December 31, 2007, at which date you will retire as an employee and officer of the company. During this period, you will remain a regular, full-time, employee
at will, eligible for and subject to all of the company’s employment benefits and policies. 
 2. Consulting Arrangement. For the
period from January 1, 2008 to December 31, 2008, inclusively (the “consulting period”), you will serve as an advisor and consultant to the company and will provide consulting services for up to [20] hours per week, as may be
requested by the president and CEO or others he may designate. Such services may but need not necessarily consist of advice regarding sales and marketing management, actions and policies, visits to and/or communications with customers or other
persons, and other projects as may be reasonably determined by or in consultation with the president and chief executive officer. All actions undertaken by you during the consulting period will be subject to the direction of and continuing approval
of the president and CEO, in his sole discretion. 
 3. Fees. In exchange for the consulting services that may be requested under this
agreement, the company will pay you a total of $100,000. Of this amount, $50,000 will be due and payable on or before July 15, 2008, and the remaining $50,000 will be due and payable on or before December 15, 2008, provided, in each case,
that you have performed your obligations under this agreement. These amounts reflect the total amount due and payable to you in consideration for the consulting services and other agreements provided by you under this agreement. For the avoidance of
doubt, you and the company agree that, in respect of the consulting period, you will not be entitled to receive any incentive or other bonus, or equity compensation or other compensation or benefits except for the cash payments specified above. You
will be solely responsible for all federal and state self-employment, income or other taxes incurred by you as a result of the payment or other terms in this agreement. 
 4. Other. During the consulting period, the company will maintain your email account commensurate with the consulting services you are asked to provide, subject to the continuing approval and direction of the
president and CEO. 

 Thomas A. Beaver 
 December
3, 2007 
 Page 2 
 5. Status as Independent
Contractor. Notwithstanding anything to the contrary in this agreement, your relationship with the company during the consulting period will be that of an independent contractor and nothing in this agreement will be construed to create any
employment agreement or employment relationship, or any agency agreement or relationship, between you and the company after the period of your employment with the company ends on December 31, 2007. Accordingly, after that date, you will no
longer be an employee or officer of the company and will have no authority to act on behalf of or to bind the company or to act on behalf of any officer, employee, director, committee or board of the company, except as may be expressly and
specifically authorized by the president and CEO. 
 6. Termination. This agreement cannot be terminated except in the case of a
material breach of this agreement by the non-terminating party, or in the case of the non-terminating party’s bankruptcy, or with the written consent of you and company. 
 7. Covenant not to compete. You acknowledge that you are currently subject to the non-competition provisions of the company’s Executive
Severance Policy. In partial consideration for the payments and other agreements of the company provided to you under this agreement, and in addition to the obligations previously agreed by you under the Executive Severance Policy, you agree that
you will continue to be bound by the same non-competition provisions under that policy during the consulting period and for a period of 12 months thereafter, that is, up to and including December 31, 2009. The terms and conditions of the
company’s Executive Severance Plan are incorporated herein by reference and shall apply as if fully set forth in this agreement. 
 For
the avoidance of doubt, you will be permitted to serve on boards of directors of companies or other organizations, provided such service does not fall within the scope of the non-compete covenant described above. 
 8. Effect on Employment Status and Other Arrangements. Except as provided in Section 7 of this agreement with respect to your obligations not
to compete against the company, this agreement does not modify in any way the terms and conditions of your current employment relationship with the company, or those of any prior employment agreement between you and the company that may continue to
exist presently or during the consulting period or thereafter. This agreement does not give you the right to remain an employee of the company. This agreement cannot be modified except in a writing signed by you and an authorized representative of
the company. 
 Disputes under this agreement will be resolved by binding arbitration in Portland, Maine, under the applicable rules of the
American Arbitration Association. 
 Your signature below indicates your agreement to the above terms and conditions. 
 Yours truly, 
  

			
	FAIRCHILD SEMICONDUCTOR CORPORATION
		
	By:	 	 /s/    KEVIN B.
LONDON        

		 	Kevin B. London
		 	Sr. V.P., Human Resources

 Agreed: 
  

			
	 /s/    THOMAS A.
BEAVER        
	  	 12/20/2007

	Thomas A. Beaver	  	Date

 Thomas A. Beaver 
 December
3, 2007 
 Page 3 
 Tom Beaver Consulting
Agreement 
 Scope of Work 
  

			
	 Activity
	 	 Executive interface

	At the request of the CEO be available to provide consulting services on customer issues and other activities as may arise.	 	Mark Thompson
		
	At the request of the EVP of Sales and Marketing be available for advice on customer issues and other activities necessary for a smooth transition. If needed attend customer events and
activities in support of the EVP of Sales and Marketing	 	Allan Lam
		
	At the request of the SVP of Human Resources be available to mentor up to ten Fairchild employees as identified by Fairchild management.	 	Kevin London

 Travel and other expenses are to be approved in advance by the responsible executive and charged
to his/her dept.

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