Document:

exv10w59

Exhibit 10.59

Amendment to Immediately Exercisable Non-Qualified Stock Option Agreement

     THIS AMENDMENT TO IMMEDIATELY EXERCISABLE NON-QUALIFIED STOCK OPTION AGREEMENT (the
"Amendment”) is entered into as of February 2, 2009, by and between Power Integrations, Inc. (the
"Company”) and Balu Balakrishnan (the “Optionee”). Pursuant to that certain Stipulation of
Compromise and Settlement approved by the United States District Court, Northern District of
California on July 18, 2008, effective January 26, 2009, this Amendment amends that certain
Immediately Exercisable Non-Qualified Stock Option Agreement (the “Original Agreement”) for option
grant # 002078, granted on February 21, 2002 only as expressly set forth herein. All terms not
defined herein shall have the meanings as set forth in the Original Agreement.

     The Company has granted to the Optionee pursuant to the Power Integrations, Inc. 1997 Stock
Option Plan (the “Plan”) an option to purchase certain shares of Stock, upon the terms and
conditions set forth in the Original Agreement (the “Option”). The Option shall in all respects be
subject to the terms and conditions of the Plan and the Original Agreement, as amended pursuant to
this Amendment.

     The exercise price for 50,000 shares subject to the Option is hereby amended from $14.82 to
$21.20. In connection with this amendment, the Option will be treated as a nonstatutory stock
option. As of February 2, 2009, the Option remains exercisable for the number of shares (less any
shares as to which the Option was exercised after January 28, 2009) and at the exercise prices as
set forth below.

	 	 	 	 	 
	Number of Shares	Exercise Price
	86,887
	 	$	14.82	 
	50,000
	 	$	21.20	 

     This Amendment, and the Original Agreement, as modified herein, together constitute the entire
understanding and agreement of the Optionee and the Company with respect to the subject matter
contained herein and there are no agreements, understandings, restrictions, representations, or
warranties among the Optionee and the Company with respect to such subject matter other than those
as set forth or provided for herein.

 

 

     This Amendment shall be governed by the laws of the State of California as such laws are
applied to agreements between California residents entered into and to be performed entirely within
the State of California.

	 	 	 	 	 	 
	 	 	POWER INTEGRATIONS, INC.
	 
	 	 	 	 
	 	 	/s/ Bill Roeschlein
	 	 	 
	 	 	Bill Roeschlein
	 	 	Chief Financial Officer
	 
	 	 	 	 
	 

	 	Address:
	 	5245 Hellyer Avenue
	 

	 	 	 	San Jose, CA 95138

Accepted and Agreed:

	 	 	 
	 

	 	Balu Balakrishnan

	 	 	 	 	 
	 	 	 
	Date:   2/2/09 	/s/ Balu Balakrishnanexv10w60

Exhibit 10.60

     Beginning in 2009, initial and annual grants will be made to outside directors primarily under
the Power Integrations 2007 Equity Incentive Plan (the “2007 Plan”) as follows (the “Directors
Equity Compensation Program”):

     1. Each current participant and each individual who would be eligible to participate in the
1997 Outside Directors Stock Option Plan shall be a participant in the Directors Equity
Compensation Program;

     2. There will be no change to the vesting schedules or exercise prices of outstanding options;

     3. On the first trading day of July in each year (the “Regular Grant Date”), if a continuing
eligible director (other than a new director) holds options pursuant to which 8,000 or more shares
would vest during the period commencing with the 25th month and ending with the
36th month following the Regular Grant Date (the “Third Year”), he/she would not receive
a new option grant under the 2007 Plan on that day;

     4. On the Regular Grant Date of each year, if a continuing eligible director (other than a new
director) holds options pursuant to which less than 8,000 shares (or no shares) would vest during
the Third Year, he/she would receive an option under the 2007 Plan to purchase 8,000 shares less
the number of such shares. Such shares would vest monthly during the Third Year;

     5. A new eligible director would receive under the 2007 Plan (or, if determined by the
Committee, under the 1997 Outside Directors Stock Option Plan):

(a) On the first trading day of the month following commencement of service, an option to
purchase the number of shares of common stock equal to: the fraction of a year (determined by
reference to the number of months) between the date of the director’s appointment to the Board of
Directors and the next July 1, multiplied by 8,000. The number of shares of common stock subject
to such option would be rounded down to the next whole share. Such shares would vest on such next
July 1.

(b) On the first trading day of July following commencement of service, an option to purchase
24,000 shares vesting monthly over the three year period commencing on the Regular Grant Date.

     6. The exercise price per share for the options to be granted under the Directors Equity
Compensation Program shall be the Fair Market Value of a share of the Company’s Common Stock on the
grant date as determined in accordance with the Option Agreements; and

     7. The Directors Equity Compensation Program shall remain in effect at the discretion of the
Board or the Compensation Committee.exv10w61

Exhibit 10.61

AMENDMENT NUMBER FIVE

TO

AMENDED AND RESTATED WAFER SUPPLY AGREEMENT

This Amendment Number Five (the “Amendment”), effective as of October 13, 2008 (the “Amendment
Effective Date”), amends the Amended and Restated Wafer Supply Agreement effective as of April 1,
2003 (as further amended by Amendment Number One, effective August 11, 2004, Amendment Number Two,
effective April 1, 2008, Amendment Number Three, effective June 9, 2008, and Amendment Number Four,
effective June 13, 2008) (the “Agreement”), by and between OKI Semiconductor Co., Ltd. (“OKI Semi”)
(successor in interest to OKI Electric Industry Co., Ltd under the Agreement), a Japanese
corporation having its registered head office at 550-1 Higashiasakawa-cho,

Hachioji-shi, Tokyo, 193-8550, Japan, and Power Integrations International, Ltd. (“PI”) a Cayman
Islands corporation having its principal place of business at 4th Floor, Century Yard, Cricket
Square, Elgin Avenue, P.O. Box 32322, Grand Cayman KY1-1209. Unless specifically designated
otherwise, capitalized terms used herein shall have the same meanings given them in the Agreement.

RECITALS

     WHEREAS, pursuant to the terms of the Agreement, PI grants to OKI Semi licenses of certain of
PI’s intellectual property for the sole purpose of PI acquiring from OKI Semi the fabrication and
supply of wafers of certain power IC products; and

     WHEREAS, PI and OKI Semi desire to amend the terms of the Agreement; and

     WHEREAS, in accordance with Section 18.10 of the Agreement, the Agreement may be amended only
by an instrument in writing duly executed by authorized officers of OKI Semi and PI.

     Now, Therefore, in consideration of the mutual promises contained herein and other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the
parties hereby amend the Agreement as follows:

AGREEMENT

	1.	 	Section 13.1 is deleted in its entirety and replaced with the following:
	 
	 	 	This Agreement shall continue in full force and effect from the Effective Date until April 1,
2018, unless earlier terminated as provided herein (“Term”).

 

 

	2.	 	Effective as of the Amendment Effective Date, all references in the Agreement to the
“Agreement” or “this Agreement” shall mean the Agreement as amended by this Amendment.
Except as expressly amended herein, the terms of the Agreement continue unchanged and shall
remain in full force and effect. This Amendment may be executed in one or more counterparts,
each of which shall be considered an original, but all of which counterparts together shall
constitute one and the same instrument.

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized
representatives, effective as of the Amendment Effective Date.

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	OKI SEMICONDUCTOR CO., LTD.	 	 	 	POWER INTEGRATIONS
	 	 	 	 	 	 	INTERNATIONAL, LTD.
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	By:

	 	/s/ Hiroshi Enomoto
	 	 	 	By:
	 	/s/ John L. Tomlin	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Name:

	 	Hiroshi Enomoto
	 	 	 	Name:
	 	John L. Tomlin	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Title:

	 	President
	 	 	 	Title:
	 	President	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	11/14/08
	 	 	 	 	 	11/14/08exv10w62

Exhibit 10.62

AMENDMENT NO. 1 TO THE

POWER INTEGRATIONS, INC.

1997 OUTSIDE DIRECTORS STOCK OPTION PLAN

          POWER INTEGRATIONS, INC. (the “Company”), having established the 1997 Outside
Directors Stock Option Plan, as amended through June 6, 2000, (the “Plan”), amended the
Plan on January 27, 2009, as follows:

     1. Section 6.1(b) of the Plan was amended and restated in its entirety to read as follows:

     ”(b) Annual Option. Each Outside Director (including any Director
who previously did not qualify as an Outside Director but who subsequently
becomes an Outside Director) shall be granted an Option to purchase ten
thousand (10,000) shares of Stock on each of his or her “Anniversary Dates”,
provided such person remains an Outside Director on such Anniversary Date
(an “Annual Option”) and provided that no Annual Option shall be granted
from January 27, 2009 to December 31, 2009. The Anniversary Date for an
Outside Director who was serving on the Board on the Effective Date shall be
the date which is twelve (12) months after the Effective Date and successive
anniversaries thereof. The Anniversary Date for an Outside Director who is
elected or appointed to the Board after the Effective Date shall be the date
which is twelve (12) months after such election or appointment and
successive anniversaries thereof.”

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