Document:

Schedule listing 2006 base salary rates and 2005 cash bonus

 Exhibit 10.1 
 2006 Base Salary Rates; 2005 Cash Bonus Amounts 
 The following table lists the 2006 base
salary rate and 2005 cash bonus amount approved on February 21, 2006, for each of our named executive officers. 
  

							
	 Name and Title
	  	 2006
 Base Salary
 Rate
	  	 2005
 Cash Bonus
 Amount

	 Arthur H. Keeney III
 President and Chief Executive Officer
	  	$	245,000	  	$	73,209
			
	 J. Dorson White
 Executive Vice President and Chief Operating Officer
	  	 	145,000	  	 	30,438
			
	 William F. Plyler, II
 Senior Vice President and Chief Credit Officer
	  	 	115,500	  	 	24,748
			
	 Gary M. Adams
 Senior Vice President and Chief Financial Officer
	  	 	100,000	  	 	22,004Schedule listing number of shares of our common stock

 Exhibit 10.2 
 February 2006 Stock Option Grants 
 The following table lists the number of shares of our
common stock for which a purchase option was granted on February 21, 2006, to each of our named executive officers pursuant to the terms of our Omnibus Stock Ownership and Long Term Incentive Plan, together with the exercise price, term and
vesting schedule of each option. 
  

										
	 Name and Title
	  	 Number
 of Shares
	  	 Exercise
 Price
 Per Share
	  	 Option
 Term
	  	 Vesting Schedule

	 Arthur H. Keeney III
 President and Chief Executive Officer
	  	8,954	  	$	28.52	  	10 years	  	Becomes exercisable as to one-third of the shares each February 21, beginning 02/21/07
					
	 J. Dorson White
 Executive Vice President and Chief Operating Officer
	  	4,952	  	$	28.52	  	10 years	  	Becomes exercisable as to one-third of the shares each February 21, beginning 02/21/09
					
	 William F. Plyler, II
 Senior Vice President and Chief Credit Officer
	  	2,562	  	$	28.52	  	10 years	  	Becomes exercisable as to one-third of the shares each February 21, beginning 02/21/09
					
	 Gary M. Adams
 Senior Vice President and Chief Financial Officer
	  	1,619	  	$	28.52	  	10 years	  	Becomes exercisable as to one-third of the shares each February 21, beginning 02/21/09SUMMARY OF DIRECTOR COMPENSATION

 Exhibit 10.27 
  
 Summary of Director Compensation 
  
 During 2005, all non-employee directors received compensation as set forth below, in accordance with the compensation guidelines for non-employee directors approved by the Board of
Directors on November 20, 2003, effective January 1, 2004: 
  

										
	 	  	Annual
Payment	  	Per In-person
Meeting	  	Per Telephonic
Meeting
	 Board Meetings
	  	 	 	  	 	 	  	 	 
	 Vice Chairman of the Board and Lead Independent Director
	  	$	45,000	  	$	2,500	  	$	1,250
	 Directors
	  	 	30,000	  	 	1,500	  	 	750
				
	 Audit Committee Meetings
	  	 	 	  	 	 	  	 	 
	 Committee Chair
	  	$	10,000	  	$	2,000	  	$	1,000
	 Committee Members
	  	 	—	  	 	1,500	  	 	1,000
				
	 Other Committee Meetings
	  	 	 	  	 	 	  	 	 
	 Committee Chair
	  	$	5,000	  	$	1,000	  	$	650
	 Committee Members
	  	 	—	  	 	1,000	  	 	650

  
 Patrick J. Sullivan and Daniel J. Levangie,
employee directors of our company, do not receive any compensation for services rendered as a director. 
  
 Our non-employee directors are also eligible to participate in our 2004 Omnibus Stock Plan. Under the 2004 Omnibus Stock Plan, each non-employee director may be granted stock options and opportunities to make direct purchases
of stock and other equity interests in our company. 
  
 Historically, upon commencement of
service as a director, each non-employee director receives an option to purchase up to 90,000 shares of our common stock, one-twelfth of which vests each calendar quarter for three years. In addition, each non-employee director is entitled, under
our Amended and Restated Director Compensation Method Plan, to receive payment of the annual retainer fees for any calendar year either in cash or in shares of our common stock. Each non-employee director is also entitled to receive an annual stock
award of 1,000 shares of our common stock, which is earned monthly based on service, and an annual grant of options. Lastly, each non-employee director is paid a cash fee for every meeting attended as set forth above. Each non-employee director may
elect to defer the payment of the annual retainer, annual stock award and meeting attendance fees.Amendment No. 1 to Registration Rights Abreement

 Exhibit 4.3(b) 
  
 AMENDMENT NO. 1 TO REGISTRATION RIGHTS AGREEMENT 
  
 This is Amendment No. 1, dated as of December 27, 2005 (this “Amendment No. 1”) to the
Registration Rights Agreement, dated as of September 7, 2001 (the “Registration Rights Agreement”), by and between ON Semiconductor Corporation, a Delaware corporation (the “Company”), and
TPG ON Holdings LLC, a Delaware limited liability company (“TPG” or the “Investor”). 
  
 RECITALS 
  
 WHEREAS, the Company and the Investor are parties to a Conversion and Termination Agreement, dated as of November 10, 2005 (the
“Conversion and Termination Agreement”), pursuant to which the Investor converted 10,000 shares of the Company’s Series A Cumulative Convertible Preferred Stock (the “Preferred Stock”) into
49,364,080 shares of Common Stock (the “Conversion Shares”) on and as of November 10, 2005; 
  
 WHEREAS, as an inducement to the Investor agreeing to the conversion of the Preferred Stock, the Company issued to the Investor an additional 3,949,126
shares of Common Stock on November 18, 2005 (the “Inducement Shares”); and 
  
 WHEREAS, pursuant to the Conversion and Termination Agreement, the Company and the Investor agreed to amend the Registration Rights Agreement to provide
for the registration of the Inducement Shares together with the Conversion Shares. 
  
 NOW, THEREFORE, in consideration of the foregoing, the mutual promises contained herein, and other good and valuable consideration, the sufficiency of which is hereby acknowledged, intending to be legally bound
hereby, the parties agree as follows: 
  
 Section 1.1.
Capitalized terms used but not otherwise defined herein have the meanings assigned thereto in the Registration Rights Agreement. 
  
 Section 2.1. Section 1.2 of the Registration Rights Agreement shall be amended to include the following definitions: 
  
 “Conversion and Termination Agreement” means the Conversion
and Termination Agreement by and between the Company and the Investor dated November 10, 2005. 
  
 “Inducement Shares” means 3,949,126 shares of Common Stock issued by the Company to Investor on November 18, 2005 pursuant to the
Conversion and Termination Agreement. 
  
 “Additional
Effectiveness Date” means the 180th day following the date of the Conversion and Termination Agreement. 
  
 “Additional Registrable Securities” means the Inducement Shares and any securities issued or issuable in respect of any Additional
Registrable Securities upon any stock dividend, stock split, or other distribution, merger, consolidation, exchange, recapitalization or reclassification or similar transaction provided, however, that any such Additional Registrable
Securities shall cease to be Additional Registrable Securities to the extent (i) a Registration Statement with respect to the sale of such Additional Registrable Securities has been declared effective under the Securities Act and such 

 
Additional Registrable Securities have been disposed of in accordance with the plan of distribution set forth in such Registration Statement, (ii) such
Additional Registrable Securities have been distributed pursuant to Rule 144 (or any similar provision then in force) under the Securities Act or (iii) such Additional Registrable Securities shall have been otherwise transferred and new
certificates for them not bearing a legend restricting transfer under the Securities Act shall have been delivered by the Company and such securities may be publicly resold without Registration under the Securities Act. 
  
 “Additional Filing Date” means the 120th day following the
date hereof. 
  
 “Additional Registration
Statement” means a Shelf Registration Statement covering the Additional Registrable Securities and any other Registrable Securities not already covered by an existing Registration Statement. 
  
 Section 2.2. Section 2.1 shall be amended by adding the
following at the end of subsection (a): 
  
 “On or
before the Additional Filing Date, the Company shall file with the SEC an Additional Shelf Registration Statement and, thereafter, shall use its reasonable best efforts to cause such Additional Shelf Registration Statement to be declared effective
under the Securities Act by the Additional Effectiveness Date.” 
  
 Section 2.3. Subsection (b) of Section 2.1 shall be amended and restated in its entirety as follows: 
  
 (b) Continued Effectiveness. The Company shall use its reasonable best efforts, subject to Section 2.1(c), to keep such Shelf
Registration Statement and Additional Registration Statement continuously effective under the Securities Act in order to permit the Prospectus forming a part thereof to be usable by holders until the earlier of the date upon which (i) a
Registration Statement(s) with respect to the sale of such Registrable Securities and Additional Registrable Securities has been declared effective under the Securities Act and such Registrable Securities and Additional Registrable Securities have
been disposed of in accordance with the plan of distribution set forth in such Registration Statements, (ii) such Registrable Securities and Additional Registrable Securities have been distributed pursuant to Rule 144 (or any similar provision
then in force) under the Securities Act or (iii) such Registrable Securities and Additional Registrable Securities shall have been otherwise transferred and new certificates for them not bearing a legend restricting transfer under the
Securities Act shall have been delivered by the Company and such securities may be publicly resold without Registration under the Securities Act (such period of effectiveness, the “Shelf Period”). 
  
 Section 2.4. Section 2.1 shall be amended by adding the
following at the end of subsection (c): 
  
 “The
Company’s rights granted under this subsection (c), with respect to a Shelf Suspension, shall be fully applicable to any Additional Registration Statement.” 
  

 2 

 Section 2.5. Section 2.1 shall be amended by adding the following new
subsection (e): 
  
 “For purposes of determining the
amount of Registrable Securities making a request or an election under this Agreement, as amended, the Additional Registrable Securities shall be counted as Registrable Securities and shall be able to participate in any Underwritten Offering, Demand
Registration or Piggyback Registration to the fullest extent permitted of the Registrable Securities.” 
  
 Section 2.6 For purposes of Sections 2.4, 2.5, 2.6, 2.7, 2.8, 2.9, 2.10, 3.5 and 3.9 of the Registration Rights Agreement, as amended, the
term Registrable Securities shall hereby be deemed to include the Additional Registrable Securities. 
  
 Section 3.1. The last sentence of Section 3.11 shall be deleted. 
  
 Section 3.2. Except as specifically amended pursuant to the terms of this Amendment No. 1, the terms and
provisions of the Registration Rights Agreement shall remain in full force and effect. 
  
 Section 3.3. This Amendment No. 1 may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have
been signed by each of the parties and delivered to the other party, it being understood that all parties need not sign the same counterpart. 
  
 [signatures on following page] 
  

 3 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be executed by their duly
authorized representatives as of the date first written above. 
  

					
	ON SEMICONDUCTOR CORPORATION
		
	 By:
	 	 /s/ KEITH D. JACKSON

	 	 	 Name:
	 	 Keith D. Jackson

	 	 	 Title:
	 	 President and Chief Executive Officer

	
	TPG ON HOLDINGS LLC
		
	 By:
	 	 /s/ DAVID A. SPURIA

	 	 	 Name:
	 	 David A. Spuria

	 	 	 Title:
	 	 Vice President

  

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