Document:

EXHIBIT 10.4

YzApp International Inc.
6584 Willoughby Way
Langley BC V2Y 1K4

July 31, 2004

I, Brian Jaggard, waive any and all accrued compensation due to me from YzApp
International Inc. I specifically waive my annual compensation of $48,000 (US
dollars) and the sums of $15,394 and $44,260 for the fiscal years ended July 31,
2003 and 2004.

Signed,

Brian Jaggard
President
YzApp International Inc.Exhibit 10.1

 

SEPARATION AGREEMENT

 

This Separation Agreement (“Agreement”)
is between Daniel A. Artusi (“Executive”)
and Silicon Laboratories Inc. (the “Company”),
and is entered into as of April 25, 2005, and shall become effective on
the eighth day following Executive’s execution of this Agreement (the “Effective Date”).  The Company and the Executive are sometimes
referred to herein as the “parties”.

 

WHEREAS, Executive has been employed by the Company as
its President and Chief Executive Officer and has served as a member of its
Board of Directors;

 

WHEREAS, Executive and the Company entered into that
certain Confidentiality, Proprietary Information and Inventions Agreement dated
as of August 27, 2001 (“Confidentiality Agreement”)
that contains restrictions on Executive’s actions following the termination of
his employment with the Company and requires that he maintain as confidential
all of the Company’s intellectual property rights, trade secrets, confidential
knowledge, data or proprietary information;

 

WHEREAS, Executive and the Company are parties to
several Stock Option Agreements (collectively the “Option
Agreements”) which grant Executive the right to purchase shares
of the Company’s Common Stock subject to the vesting schedules and other
restrictions on exercise as set forth in the Option Agreements and the Silicon
Laboratories Inc. 2000 Stock Incentive Plan (the “Stock
Plan”);

 

WHEREAS, Executive has voluntarily resigned his
employment with the Company and his seat on its Board of Directors effective as
of April 25, 2005 (the “Resignation Date”);
and,

 

WHEREAS, the parties desire to settle fully and
finally, in the manner set forth herein, any and all differences between them
which have arisen, or which may arise, prior to, or at the time of, the execution
of this Agreement, including, but in no way limited to, any and all claims and
controversies arising out of the employment relationship between Executive and
the Company, and the termination thereof.

 

NOW, THEREFORE, in consideration of these recitals and
the promises and agreements set forth in this Agreement, the receipt and
sufficiency of which are hereby acknowledged, the parties, intending to be
legally bound, hereby agree as follows:

 

1.             General Releases:  (a) Executive for himself and on behalf
of his attorneys, heirs, assigns, successors, executors, and administrators
IRREVOCABLY AND UNCONDITIONALLY RELEASES, ACQUITS AND FOREVER DISCHARGES the
Company, the Company’s current and former parent, subsidiary, affiliated, and
related corporations, firms, associations, partnerships, limited liability
companies and entities, their

 

1

 

successors and assigns, and the current and former
owners, stockholders, directors, officers, employees, agents, attorneys,
representatives, and insurers of the Company and said corporations, firms,
associations, partnerships, limited liability companies and entities, and their
successors, assigns, heirs, executors, guardians, and administrators (including
the Company, “Company Released Parties”),
of and from any and all claims, liabilities, obligations, agreements, damages,
causes of action, costs, losses, damages, and attorneys’ fees and expenses
whatsoever (collectively, “claims”),
whether known or unknown or whether connected with Executive’s employment by
the Company or not, including, but not limited to, any claims arising under Title VII of the Civil Rights Act of 1964, as amended, 42
U.S.C. § 2000e, et seq., the Texas Commission on Human Rights Act, the Age Discrimination in
Employment Act, 29 U.S.C. § 621, et. seq.,
the Americans With Disabilities Act,
and any other municipal, local, state, or federal law, common or statutory,
which may have arisen, or which may arise, prior to, or at the time of, the
execution of this Agreement. 
Notwithstanding the foregoing, Executive shall have all rights of
indemnification for his acts or omissions as a director or officer of the
Company that he may have under any applicable statute, the certificate of
incorporation or by-laws of the Company, or pursuant to the Indemnification
Agreement dated August 27, 2001 between Executive and the Company.

 

(b)                                 The
Company, for itself and on behalf of its attorneys, heirs, assigns, successors,
executors, administrators, current and former parent, subsidiary, affiliated,
and related corporations, firms, associations, partnerships, limited liability
companies and entities, its respective successors and assigns, and the current
and former owners, shareholders, directors, officers, employees, agents,
attorneys, representatives and insurers of the Company and said corporations,
firms, associations, partnerships, and entities and their guardians,
successors, assigns, heirs, executors, and administrators, IRREVOCABLY AND
UNCONDITIONALLY RELEASES, ACQUITS, AND FOREVER DISCHARGES Executive and his
attorneys, heirs, assigns, successors, executors, and administrators (“Executive Released Parties”), of and
from any and all claims whatsoever, whether known or unknown or whether
connected with Executive’s employment by the Company or not, which may have
arisen, or which may arise, prior to, or at the time of, the execution of this
Agreement.  Notwithstanding the
foregoing, nothing contained herein shall release the Executive Released
Parties from any claim relating to: (i) a breach by Executive of any
provision of the Confidentiality Agreement; (ii) Executive’s obligations
pursuant to this Agreement; or (iii) Executive’s fraud, willful
misconduct, gross negligence or illegal act.

 

2.             Covenant Not to Sue:

 

(a)                                  Executive
COVENANTS NOT TO SUE, OR OTHERWISE PARTICIPATE IN ANY ACTION OR CLASS ACTION
against, any Company Released Party based upon any of the claims released in
this Agreement.

 

(b)                                 Company
COVENANTS NOT TO SUE, OR OTHERWISE PARTICIPATE IN ANY ACTION OR CLASS ACTION
against, any Executive Released Party based upon any of the claims released in
this Agreement.

 

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3.             Severance Package:  On the Effective Date, Company shall provide
Executive with the following payments and benefits (“Severance
Package”) to which Executive is not otherwise entitled.  Executive acknowledges and agrees that this
Severance Package constitutes adequate legal consideration for the promises and
representations made by Executive in this Agreement.

 

3.1                               Severance Payments.  Company agrees to pay Executive an amount
equal to his current base salary of $31,250 per month, less all applicable
withholding and authorized deductions (“Severance Payments”)
in equal, regular installments in accordance with the Company’s regular payroll
schedule, from April 25, 2005 until the earlier of (a) April 25,
2007 or (b) such time as Executive becomes engaged as a consultant or
contractor for more than 25 hours per week or becomes otherwise employed (the “Severance Period”); provided that neither (i) serving as
a manager, partner, general partner, trustee, board member, employee,
consultant or contractor for Executive’s estate planning entities (which do not
provide any services to third parties) or charitable organizations nor (ii) serving
on the board of directors of any company other than as an executive chairman of
the board or a similar role, shall constitute employment, consulting or
contracting for purposes of this Section 3.1.  On the first payday of the Company following
the expiration of six months from the Resignation Date (such six month period,
the “Waiting Period”),
the Company will pay to the Executive the Severance Payments that would have
been made to the Executive during such Waiting Period in accordance with the
Company’s regular payroll schedule but for the Waiting Period.  Any further Severance Payments will be paid
in accordance with the regular payroll schedule of the Company during the
remainder of the Severance Period. 
Executive shall promptly report to the Company his employment or his
engagement as a consultant or contractor during the Severance Period.

 

3.2                               Lump Sum.  Company agrees to pay Executive $100,000 on
the first payday of the Company following the end of the Waiting Period, less
all applicable withholding.  Such amount
will be payable notwithstanding the lapse of the Severance Period.

 

3.3                               Benefits.  During the continuation coverage period
specified in section 4980B of the Internal Revenue Code of 1986, as
amended (“Code”),
and Part 6 of Title 1 of the Employee Retirement Income Security Act of
1986, as amended, Executive hereby elects to continue to participate in any
medical, prescription drug, dental, vision, health care spending account and
any other “group health plan” (as such term is used in section 4980B of
the Code) for the continued benefit of the Executive (and the Executive’s
spouse and minor children) in which such person(s) were participating
immediately prior to the Resignation Date or, if such arrangements are altered
by the Company, which is provided to similarly

 

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situated beneficiaries under the plans with respect to which a
qualifying event has not occurred (“COBRA Coverage”).  During the Waiting Period, the Company will
pay on the Executive’s behalf the premium the Executive will be required to pay
to maintain such coverage for such person(s) during the Waiting Period; provided that the Company shall not be obligated to make any
payment following the end of the Severance Period.  In addition, during any remaining Severance
Period following the Waiting Period, the Company will pay to the Executive an
amount equal to the premium the Executive will be required to pay during the
period of COBRA Coverage to maintain such coverage for such person(s), less
applicable withholding.  Such payments
shall be made in equal, regular installments in accordance with the Company’s
regular payroll schedule.

 

3.4                               Restricted Stock
Vesting.  Company agrees to waive its
right of repurchase with respect to 64,286 unvested shares (“Accelerated Shares”) of Common Stock
acquired by Executive pursuant to that certain Silicon Laboratories Inc. Stock
Issuance Agreement between the Company and Executive dated as of August 27,
2001 (the “Issuance Agreement”),
including waiving all Repurchase Rights (as defined in the Issuance Agreement)
and transferee obligations with respect to the Accelerated Shares.  On the Effective Date, Executive shall
deliver to the Company by wire transfer cash equal to the Company’s required
withholding amount with respect to the Accelerated Shares.  In addition to any other remedies available
to the Company, the Company shall have the right of offset and may reduce any
other payments due to Executive hereunder to the extent Executive has not paid
the full amount required by the preceding sentence.  The Company will remove all legends and other
indications of restriction from the certificates representing Accelerated
Shares following receipt of such withholding amount.  From the date hereof until the eighth day
following Executive’s execution of this Agreement, the Company shall not
exercise its Repurchase Rights with respect to the Accelerated Shares.  The Company shall exercise its Repurchase
Right with respect to the remaining 21,428 unvested shares subject to such
Issuance Agreement and shall deliver the Purchase Price of $2.14 to Executive
promptly following the Effective Date.

 

3.5                               Stock Option Vesting.  Except as explicitly set forth in this Section 3.5,
Executive shall not vest any further with respect to any of the Option
Agreements following the Resignation Date. 
Notwithstanding Section 5(iv) of each Option Agreement,
Company agrees to accelerate Executive’s vesting and exercisability with
respect to the Option Agreements, such that the number of shares of Company’s
Common Stock indicated below shall be purchasable under each such Option
Agreement, as follows:

 

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3.5.1        With
respect to Option Grant 2000536 with an exercise price of $20.24 per share, the
Company will accelerate Executive’s vesting and exercisability with respect to
1,542 shares of the Company’s Common Stock (resulting in an aggregate of 14,800
shares of the Company’s Common Stock being vested and exercisable thereunder,
including any shares previously purchased thereunder);

 

3.5.2        With
respect to Option Grant 2000537 with an exercise price of $20.24 per share, the
Company will accelerate Executive’s vesting and exercisability with respect to
31,792 shares of the Company’s Common Stock (resulting in an aggregate of
305,200 shares of the Company’s Common Stock being vested and exercisable
thereunder, including any shares previously purchased thereunder);

 

3.5.3        With
respect to Option Grant 2000708 with an exercise price of $24.30 per share, the
Company will accelerate Executive’s vesting and exercisability with respect to
1,635 shares of the Company’s Common Stock (resulting in an aggregate of 1,635
shares of the Company’s Common Stock being vested and exercisable thereunder,
including any shares previously purchased thereunder);

 

3.5.4        With
respect to Option Grant 2000709 with an exercise price of $24.30 per share, the
Company will accelerate Executive’s vesting and exercisability with respect to
77,531 shares of the Company’s Common Stock (resulting in an aggregate of
77,531 shares of the Company’s Common Stock being vested and exercisable
thereunder, including any shares previously purchased thereunder);

 

3.5.5        With
respect to Option Grant 2001061 with an exercise price of $38.50 per share, the
Company will accelerate Executive’s vesting and exercisability with respect to
4,167 shares of the Company’s Common Stock (resulting in an aggregate of 25,000
shares of the Company’s Common Stock being vested and exercisable thereunder,
including any shares previously purchased thereunder);

 

3.5.6        With
respect to Option Grant 2001354 with an exercise price of $45.41 per share, the
Company will accelerate Executive’s vesting and exercisability with respect to 6,666
shares of the Company’s Common Stock (resulting in an aggregate of 31,666
shares of the Company’s Common Stock being vested and exercisable thereunder,
including any shares previously purchased thereunder);

 

3.5.7        With
respect to Option Grant 2001530 with an exercise price of $33.17 per share, the
Company will accelerate Executive’s vesting and exercisability with respect to
12,500 shares of the Company’s Common Stock (resulting in an aggregate of
12,500 shares of the

 

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Company’s Common Stock
being vested and exercisable thereunder, including any shares previously
purchased thereunder);

 

3.5.8        With
respect to all Option Agreements, Section 5(i) of each Option
Agreement shall be amended and restated to read as follows:  “(i) Should Optionee cease to remain in
Service for any reason (other than death, Permanent Disability or Misconduct)
while this option is outstanding, then this option shall remain exercisable
until the earlier of (i) March 15, 2006 or (ii) the
Expiration Date.”

 

4.             Acknowledgement.  Executive acknowledges and agrees that: (A) except
as provided by this Agreement, no additional consideration, including salary,
wages, bonuses, stock or stock options, is to be paid to him by the Company; (B) except
as provided by this Agreement, he has no contractual right or claim to the
Severance Package described herein; and (C) payments and benefits pursuant
to this Agreement shall terminate immediately if Executive materially breaches
any of the provisions of this Agreement or the Confidentiality Agreement.

 

5.             Right to Revoke:  Executive may revoke this Agreement by notice
to the Company, in writing, received within seven days of the date of execution
of this Agreement by Executive (the “Revocation Period”).  The Company may not revoke this
Agreement.  Executive agrees that he will
not receive the Severance Package provided by this Agreement if he revokes this
Agreement.  Executive also acknowledges
and agrees that if the Company has not received notice from Executive of his
revocation of this Agreement prior to the expiration of the Revocation Period,
Executive will have forever waived his right to revoke this Agreement and this
Agreement shall thereafter be enforceable and have full force and effect.  Notice under this Agreement shall be deemed
delivered to the Company only upon confirmed facsimile transmission addressed
to Russell Brennan at (512) 428-1666.

 

6.             Stock and Stock Options:  Except as expressly provided for in Section 3
of this Agreement, the terms and conditions of the Issuance Agreement and the
Option Agreements shall remain in full force and effect.

 

7.             Waiver of Reemployment/Reelection
to the Board of Directors: Executive waives and releases forever any right
or rights he might have to employment, reemployment, or reinstatement with any
Company Released Party at any time in the future.  Executive also waives and releases forever
any right or rights he might have to seek election or reelection to the Board
of Directors of the Company or any of the Company Released Parties at any time
in the future.  Executive agrees that he
shall not to seek or make application for employment with, nor will he seek or
accept election or reelection to the Board of Directors of, any of the Company
Released Parties at any time in the future.

 

8.             Confidentiality:  Until this Agreement is publicly filed by
Company, Executive agrees not to directly or indirectly disclose the terms,
amount or fact of this Agreement to anyone other than by Executive to his immediate
family, counsel, accountant or tax advisor, except as such disclosure may be
required for accounting or tax reporting purposes or as otherwise may be
required by law.

 

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9.             Acknowledgement of Restrictions;
Non-Competition; Confidential Information: 
Executive acknowledges and agrees that he has continuing
non-competition, non-solicitation and non-disclosure obligations pursuant to
the Confidentiality Agreement between Executive and the Company.  Executive acknowledges and agrees that the
non-competition, non-solicitation and non-disclosure provisions of the
Confidentiality Agreement are valid, binding and enforceable, and Executive
reaffirms his obligation to continue to abide fully and completely with all
provisions of the Confidentiality Agreement, including without limitation the
non-competition, non-solicitation and non-disclosure provisions, and agrees
that nothing in this Agreement shall operate to excuse or otherwise relieve
Executive of such obligation.

 

10.           Return of Company Property.  Executive confirms that Executive has
returned all of the Company’s property to the Company, including but not
limited to, Company files, notes, drawings, records, business plans and
forecasts, financial information, specifications, computer-recorded
information, tangible property, including computers, keys, access cards,
identification badges, credit cards, cell phones and PDAs issued to Executive,
and any proprietary or confidential information of the Company (and all
reproductions thereof).

 

11.           Expense Reimbursement.  Executive confirms that Executive has
submitted his final documented expense reimbursement statement reflecting all
business expenses incurred through the Resignation Date, if any, for which
Executive shall seek reimbursement.  The
Company agrees to pay the amount of all such expenses to Executive promptly to
the extent such expenses are in compliance with the Company’s reimbursement
policies.  In addition, the Company
agrees to reimburse Executive up to an aggregate of $17,500 for the fees and
expenses of Vinson & Elkins L.L.P., special counsel to Executive,
incurred in the course of negotiating this Agreement.

 

12.           Nondisparagement:  Each party agrees that it will not make (and
the Company agrees to prevent any executive officer or member of the board of
directors of the Company or the Company’s current and former parent,
subsidiary, affiliated, and related corporations, firms, associations,
partnerships, limited liability companies and entities from making) any
statements, written or verbal, or cause or encourage others to make any
statements, written or verbal, that defame or disparage the personal or
business reputation, practices, prospects or conduct of the other including, in
the case of the Company, its employees, directors, stockholders, and other
related parties included in the definition of Company Released Parties; provided that both Executive and the Company will respond
accurately to any question, inquiry or request for information to the extent
required by law.

 

13.           Cooperation:  Executive agrees that from time to time
following the Resignation Date he will, at the Company’s written request,
voluntarily assist the Company with respect to on-going or contemplated
litigation, audits by government agencies or any other similar matters.  The Company will reimburse Executive for
reasonable out-of-pocket expenses incurred with respect to any such requested
matters; provided that such expenses shall not
exceed $500 without the Company’s written approval.  Executive acknowledges and agrees that his
activities under this Section shall be performed as an independent
contractor and not as an employee of the Company.  The Company agrees to provide Executive with
as much advance notice of its requests as may be reasonable under the
circumstances.

 

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14.           Severability:  If any provision of this Agreement is held to
be illegal, invalid, or unenforceable, such provision shall be fully severable
and/or construed in remaining part to the full extent allowed by law, with the
remaining provisions of this Agreement continuing in full force and effect.

 

15.           Entire Agreement: This
Agreement, the Indemnification Agreement, the Issuance Agreement, the Option
Agreements (and any ancillary documents relating to the Option Agreements), the
Stock Plan and the Confidentiality Agreement, which are incorporated herein by
reference, constitute the entire agreement between the Executive and the
Company, and supersede all prior and contemporaneous negotiations and
agreements, oral or written.  This
Agreement cannot be changed or terminated except pursuant to a written
agreement executed by the parties.

 

16.           Governing Law; Venue:  This Agreement shall be governed by and
construed in accordance with the laws of the State of Texas, except where
preempted by federal law.  The parties
hereby agree that Travis County shall be the exclusive venue for any disputes
under this Agreement and irrevocably submit to such jurisdiction.

 

[Signature
page follows]

 

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17.           Statement of Understanding:  By executing this Agreement, Executive
acknowledges that (a) he has had at least 21 days to consider the terms of
this Agreement and has considered its terms for such a period of time or has
knowingly and voluntarily waived his right to do so; (b) he has been
advised by the Company to consult with an attorney regarding the terms of this
Agreement; (c) he has consulted with an attorney of his own choosing
regarding the terms of this Agreement; (d) he has consulted with his own
tax and financial advisors regarding the terms of this Agreement and is not
relying on the Company with respect to any matters related to this Agreement; (e) any
and all questions regarding the terms of this Agreement have been asked and
answered to his complete satisfaction by his advisors; (f) he has read
this Agreement and fully understands its terms and their import; (g) except
as provided by this Agreement, he has no contractual right or claim to the
Severance Package described herein; (h) the consideration provided for
herein is good and valuable; and (i) he is entering into this
Agreement voluntarily, of his own free will, and without any coercion, undue
influence, threat, or intimidation of any kind or type whatsoever.

 

 

	
  EXECUTED in Austin, Texas, this 25th day
  of April, 2005.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  EXECUTIVE

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Daniel A.
  Artusi

  	
   

  
	
   

  	
  Daniel A. Artusi

  
	
   

  	
   

  
	
   

  	
   

  
	
  EXECUTED in Austin, Texas, this 25th day
  of April, 2005.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Silicon
  Laboratories Inc. 

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Navdeep S.
  Sooch

  	
   

  
	
   

  	
   

  	
  Navdeep S.
  Sooch, 

  
	
   

  	
   

  	
  Interim Chief
  Executive Officer

  
					

 

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