Document:

Letter to David G. Franz, Jr. dated March 28, 2007

 Exhibit 10.30 
 [Semtech letterhead] 
 March 28, 2007 
 David G. Franz, Jr. 
 [home address] 
  

	 	Re:	Stock Options 

 Dear David: 
 As I believe you are aware, the Board of Directors constituted a Special Litigation Committee (the “SLC”) which has been charged with looking into various
matters in connection with the Company’s stock option investigation. Specifically, the SLC was asked to determine what actions, if any, should be taken relative to certain former officers of the Company who were found by the Special Committee
of the Board (the “Special Committee”) to have engaged in culpable conduct. 
 The SLC, pursuant to the authority vested in it by the Board, has
made a determination with respect to stock options that were granted to you. In light of your conduct, as determined by the Special Committee, the SLC has directed that one of your grants be cancelled and that your remaining options that are vested
and outstanding be repriced using the market price on the revised measurement dates determined by the Company. 
 Accordingly, as of this date 
  

	 	1.	the 140,000 split-adjusted options referenced in your October 14, 1998 award agreement are cancelled (although we note they have already lapsed), and 

 

	 	2.	the 240,000 split-adjusted options referenced in your November 13, 1997 award agreement are repriced as follows. 

 You are aware from our prior correspondence to you that all of your options would lapse 30 days after your January 22, 2007 resignation of
employment. However, options granted under Semtech’s 1994 Long-Term Incentive Plan are subject to a 90 day post-termination exercise period. Consequently, the options referenced in your November 13, 1997 award agreement will not lapse
until April 22, 2007. 
 Instead of the stated split-adjusted exercise price of $5.31 per share, the exercise price of the 240,000
options (split-adjusted) outstanding under your November 13, 1997 award agreement is adjusted to $6.59 per share. 
 All
other options granted to you by Semtech have either expired or lapsed. 
 Any inquiry on this matter should be directed by your counsel to Tom Zaccaro of
Paul, Hastings, counsel to the Company, at (213) 683-6285. 
 Very truly yours, 
 /s/    MOHAN MAHESWARAN 
 Mohan Maheswaran 
 President & CEOForm of Long-Term Stock Incentive Plan

 Exhibit 10.1 
 [Semtech logo] 
 FORM OF 
 LONG-TERM STOCK INCENTIVE PLAN 
 AWARD CERTIFICATE 
 THIS AWARD is made this [Date] by Semtech Corporation, a Delaware Corporation (the “Company”), to [Name] (the “Optionee”).

 R E C I T A L S 
 A. The Company has established the Company’s Long-Term Stock Incentive Plan (the “Plan”) in order to provide employees of the Company with an opportunity to acquire shares of the Company’s common stock
(“Stock”). 
 B. The Plan Administrator has determined that it would be in the best interests of the Company and its stockholders
to grant the option described in this Award Certificate to the Optionee as compensation, as an inducement to remain in the service of the Company, and as an incentive for increasing efforts during such service. 
 NOW, THEREFORE, this Award is made on the following terms and conditions: 
 1. Definitions and Incorporation. The terms used in this Award Certificate shall have the meanings given to such terms in the Plan. The Plan is hereby incorporated in and made a part of this Award Certificate
as if fully set forth herein. 
 2. Grant of Option. Pursuant to the Plan, the Company hereby grants to the Optionee as of the date
hereof the option to purchase all or any part of an aggregate of [Amount] shares of Stock (the “Option”), subject to adjustment in accordance with Section 3(d) of the Plan. The Option is not intended to qualify as an incentive
stock option under Section 422A of the Internal Revenue Code of 1986, as amended. 
 3. Option Price. The price to be paid for
Stock upon exercise of the Option or any part thereof shall be $[Market Price] per share, which equals the last trading price (in regular trading) of a share of Stock on the Nasdaq stock market on the date of grant of the Award, or if the Stock is
not traded on such date, such price on the next succeeding business day. 
 4. Right to Exercise. Subject to the conditions set forth
in this Award Certificate and the Plan, the right to exercise the Option shall accrue as follows, with no portion of the right to exercise accruing on any other date (e.g. no pro-ration) except as specifically set forth in this Award
Certificate or the Plan: 
  

			
	 Date
	  	Number of
Shares
	 [First year anniversary of grant]
	  	[25% of grant]
	 [Second year anniversary of grant]
	  	[25% of grant]
	 [Third year anniversary of grant]
	  	[25% of grant]
	 [Fourth year anniversary of grant]
	  	[25% of grant]

 5. Securities Law Requirements. No part of the Option shall be exercised if counsel to the
Company determines that any applicable registration requirement under the Securities Act of 1933, as amended (the “Securities Act”) or any other applicable requirement of Federal or State law has not been met. 
  

 6. Term of Option. The Option shall terminate in any event on the earliest of (a) the [day
before 6 year anniversary of grant] at 11:59 PM, (b) the expiration of the period described in Paragraph 7 below, (c) the expiration of the period described in Paragraph 8 below, or, (d) the expiration of the period described in
Paragraph 9 below. 
 7. Exercise Following Termination of Service. If the Optionee’s service with the Company terminates for any
reason, or no reason, whether voluntarily or involuntarily, with or without cause, other than death, disability or retirement, any portion of the Option granted hereunder held by such person which is not then exercisable shall terminate and any
portion of the Option which is then exercisable may be exercised within thirty (30) consecutive days after the date of such cessation. 
 8. Exercise Following Death or Disability. If the Optionee’s service with the Company terminates by reason of the Optionee’s death or disability (as defined below), the Option (to the extent it has not previously been
exercised and is then exercisable) may be exercised within one year after the date of the Optionee’s death or termination by reason of disability. In the case of death, the exercise may be made by his or her representative or by the person
entitled thereto under the Optionee’s will or the laws of descent and distribution, provided however, that such representative or such person consents in writing to abide by and be subject to the terms of the Plan and this Award Certificate and
such writing is delivered to the President of the Company. For purposes hereof, “disability” shall mean a medically determinable physical or mental impairment which has made an individual incapable of engaging in any substantial gainful
activity. A condition shall be considered a disability only if (i) it can be expected to result in death or has lasted or can be expected to last for a continuous period of not less than twelve (12) months, and (ii) the Plan
Administrator, based on medical evidence, has expressly determined that a disability exists. 
 9. Exercise Following Retirement. If
the Optionee’s service with the Company terminates by reason of retirement (as defined below) the Option (to the extent it has not previously been exercised and is then exercisable) may be exercised within ninety (90) days after the date
of the Optionee’s retirement. For purposes hereof, “retirement” shall mean the voluntary cessation of employment by an individual upon the attainment of age sixty-five (65) and the completion of not less than twenty
(20) years of service with the Company or a subsidiary. 
 10. Exercise Following Change of Control. Notwithstanding any other
provision to the contrary contained herein, subject to the provisions of Section 3(d) of the Plan, if within one year of a Change in Control (as defined below), the Optionee is terminated without cause or a Constructive Termination (as defined
below) occurs with respect to the Optionee, any outstanding Options shall automatically become fully vested and exercisable as of the date of the Change in Control, whether or not then exercisable, without any further action on the part of the Board
of Directors of the Company (“Board”), the stockholders or any committee established by the Board to administer the Plan. 
 For purposes hereof, a
“Change in Control” shall mean (i) a merger or consolidation in which the stockholders of the Company immediately prior to such merger or consolidation do not hold, immediately after such merger or consolidation, more than 50% of the
combined voting power of the surviving or acquiring entity (or parent corporation thereof), or (ii) the sale of substantially all of the assets of the Company or assets representing over 50% of the operating revenues of the Company or
(iii) any person shall become the beneficial owner of over 50% of the Company’s outstanding Stock or the combined voting power of the Company’s then outstanding voting securities entitled to vote generally, or become a controlling
person as defined in Rule 405 promulgated under the Securities Act. 
 For purposes hereof, “Constructive Termination” shall mean Optionee’s
voluntary termination within one year of Optionee’s knowledge of the occurrence of (i) a reduction in the Optionee’s base salary after a Change in Control from that in effect immediately prior to the Change in Control; or (ii) a
material or substantial reduction or change in job duties, responsibilities, and requirements after a Change in Control 

  

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from Optionee’s duties, responsibilities, and requirements immediately prior to the Change in Control. A termination shall not be treated as a
Constructive Termination if the Optionee shall have specifically consented in writing to the occurrence of the event giving rise to the claim of Constructive Termination. 
 11. Nontransferability. The Option shall be exercisable during the Optionee’s lifetime only by the Optionee or the Optionee’s guardian or legal representative and shall be nontransferable, except that
the Optionee may transfer all or any part of the Option by will or by the laws of descent and distribution. Except as otherwise provided herein, any attempted alienation, assignment, pledge, hypothecation, attachment, execution or similar process,
whether voluntary or involuntary, with respect to all or any part of the Option or any right thereunder, shall be null and void and, at the Company’s option, shall cause all of the Optionee’s rights under this Award Certificate to
terminate. 
 12. Effect of Exercise. Upon exercise of all or any part of the Option, the number of shares of Stock subject to option
under this Award Certificate shall be reduced by the number of shares with respect to which such exercise is made. 
 13. Exercise of
Option. The Option may be exercised by delivering to the Company (a) a written notice of exercise in substantially the form prescribed from time to time by the Plan Administrator and (b) full payment of the option price for each share
of Stock purchased under the Option. Such notice shall specify the number of shares of Stock with respect to which the Option is exercised and shall be signed by the person exercising the Option. If the Option is exercised by a person other than the
Optionee, such notice shall be accompanied by proof, satisfactory to the Company, of such person’s right to exercise the Option. The Option price shall be payable (a) in U.S. dollars in cash (by check), (b) by delivery of shares of
stock registered in the name of the Optionee having a fair market value at the time of exercise equal to the amount of the purchase price, (c) any combination of the payment of cash and the delivery of stock, or (d) as otherwise approved
by the Plan Administrator in its sole and absolute discretion. 
 14. Withholding Taxes. If the Optionee is an employee or former
employee of the Company when all or part of the Option is exercised, the Company may require the Optionee to deliver payment of any withholding taxes (in addition to the option price) in cash with respect to the difference between the Option price
and the fair market value of the Stock acquired upon exercise. 
 15. Issuance of Shares. Subject to the foregoing conditions, the
Company, as soon as reasonably practicable after receipt of a proper notice of exercise and without transfer or issue tax or other incidental expense to the person exercising the Option, shall deliver to such person at the principal office of the
Company, or such other location as may be acceptable to the Company and such person, one or more certificates for the shares of Stock with respect to which the Option is exercised. Such shares shall be fully paid and nonassessable and shall be
issued in the name of such person. However, at the request of the Optionee, such shares may be issued in the names of the Optionee and his or her spouse as (a) joint tenants with right of survivorship, (b) community property, or
(c) tenants in common without right of survivorship. 
 16. Rights as a Stockholder. Neither the Optionee nor any other person
entitled to exercise the Option shall have any rights as a stockholder of the Company with respect to the stock subject to the Option until a certificate for such shares has been issued to him or her upon exercise of the Option. 
 17. Notices. Any notice to the Company contemplated by this Award Certificate shall be addressed to it in care of its President; and any notice to
the Optionee shall be addressed to him or her at the address on file with the Company on the date hereof or at such other address as he or she may hereafter designate in writing. 
 18. Not a Contract of Employment. Nothing in this Award Certificate gives Optionee the right to remain in the employ of the Company or any
subsidiary or to affect the absolute and unqualified 
  

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 right of the Company and any of its subsidiaries to terminate Optionee’s employment at any time for any reason or no
reason and with or without cause or prior notice. Except to the extent explicitly provided otherwise in a then effective written employment contract executed by Optionee and the Company, Optionee is an at will employee whose employment may be
terminated without liability at any time for any reason. By accepting this Award, Optionee acknowledges and agrees that (a) a person whose employment is terminated before full vesting of an award, such as the one granted by this Award
Certificate, could attempt to argue that he or she was terminated to preclude vesting of the award, (b) that Optionee agrees never to make such a claim, and (c) in any event, Optionee has no right to pro-rated vesting with respect to the
Award if his or her employment terminates before any applicable vesting date with respect to the Award (regardless of the portion of the vesting period the Optionee was actually employed by the Company and/or any of its subsidiaries). 
 19. Interpretation. The interpretation, construction, performance and enforcement of the terms and conditions of this Award Certificate and the
Plan shall lie within the sole discretion of the Plan Administrator, and the Plan Administrator’s determinations shall be conclusive and binding on all interested persons. 
 20. Choice of Law—Binding Arbitration. This Award Certificate shall be governed by and construed in accordance with the internal substantive
laws (not the law of choice of laws) of the State of California. Any dispute or disagreement regarding the Optionee’s rights under this Award Certificate shall be settled solely by binding arbitration in accordance with the applicable rules of
the American Arbitration Association. 
  

			
	 SEMTECH CORPORATION,

	 a Delaware corporation

		
	 By
	 	  

		 	 [an authorized officer]

  

	Rev:	Oct 2001 

	Rev	2006 - 6 year term 

	Rev	2007 - Unilateral 

  

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