Document:

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                                                                   Exhibit 10.17

                          AMERICAN MICROSYSTEMS, INC.

             2000 CHANGE IN CONTROL EMPLOYEE SEVERANCE BENEFIT PLAN

SECTION 1.   PURPOSE.

     The American Microsystems, Inc. 2000 Change in Control Employee Severance
Benefit Plan (the "Plan") is designed to provide separation pay and benefits to
Eligible Employees (as defined herein) of AMI Spinco, Inc., a Delaware
corporation doing business as "American Microsystems, Inc." (the "Company"),
pursuant to the terms and conditions set forth in this Plan. This document shall
serve as both a plan document and summary plan description for purposes of Title
I of ERISA.

SECTION 2.   EFFECTIVE DATE.

     Any and all of the Company's plans, programs, policies and practices
regarding severance benefits or similar payments upon employment termination or
position elimination with respect to the Eligible Employees either adopted or
executed prior to the effective date of this plan, and any and all written
employment or individual separation agreements with the Company that provide
severance benefits with respect to the Eligible Employees either adopted or
executed prior to the effective date of this Plan and any provision of any other
written agreement between an Eligible Employee and the Company if such provision
provides greater benefits than those provided herein, are hereby superseded by
this Plan. This Plan was approved by the Board of Directors of the Company
effective July 25, 2000.

SECTION 3.   DEFINITIONS.

     (a)  "ACCOUNTANTS" means the Company's independent certified public
accountants.

     (b)  "BOARD" means the Board of Directors of the Company.

     (c)  "CAUSE" as to any Eligible Employee means that, in the reasonable
determination of the Board, such Eligible Employee has: (i) committed an
intentional act that materially injures the business of the Company; (ii)
willfully refused to follow lawful and reasonable directions of the Board or the
appropriate individual to whom such Eligible Employee reports; (iii) willfully
neglected such Eligible Employee's duties for the Company which has had a
material adverse effect on the Company; (iv) been convicted of a felony
involving moral turpitude that is directly related to such Eligible Employee's
duties and responsibilities and is either likely to inflict or has inflicted
material injury on the business of the Company; or (v) knowingly and willfully
violated a material provision of an agreement between such Eligible Employee and
the Company. Notwithstanding the foregoing, Cause shall not exist based on the
conduct described in clauses (ii), (iii) or (v) unless the conduct described in
such clause has not been cured within fifteen (15) days following such Eligible
Employee's receipt of written notice from the Company or the Board, as the case
may be, specifying the particulars of the conduct constituting Cause.
Notwithstanding the foregoing, termination of such Eligible Employee's
employment due to death or disability shall not be considered termination for
Cause.

                                       1.

<PAGE>
     (d)  "CHANGE IN CONTROL" means the occurrence of any of the following:

          (i)       the acquisition by any "person" (as such term is used in
Sections 13(d) and 14(d) of the Securities and Exchange Act of 1934, as amended
from time to time, and any successor statute (the "Exchange Act")) (other than
the Company or a Company employee benefit plan, including any trustee of such
plan acting as trustee) of the "beneficial ownership" (as defined in Rule 13d-3
under the Exchange Act), directly or indirectly, of securities of the Company
representing fifty percent (50%) or more of the combined voting power of the
Company's then outstanding securities;

          (ii)      a sale, lease or other disposition of all or substantially
all of the assets of the Company;

          (iii)     a merger or consolidation in which the Company is not the
surviving corporation, other than a merger or consolidation which would result
in the voting securities of the Company outstanding immediately prior thereto
continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity) at least fifty percent (50%) of
the total voting power represented by the voting securities of the Company or
such surviving entity outstanding immediately after such merger or
consolidation; or

          (iv)      a reverse merger in which the Company is the surviving
corporation but the shares of Common Stock outstanding immediately preceding the
merger are converted by virtue of the merger into other property, whether in the
form of securities, cash or otherwise, other than a merger which would result in
the voting securities of the Company outstanding immediately prior thereto
continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity) at least fifty percent (50%) of
the total voting power represented by the voting securities of the Company or
such surviving entity outstanding immediately after such merger or
consolidation.

     (e)  "CODE" means the Internal Revenue Code of 1986, as amended.

     (f)  "COMPANY" means AMI Spinco, Inc., a Delaware corporation doing
business as "American Microsystems, Inc.," and any successor.

     (g)  "COMPENSATION" means as to any Eligible Employee one twelfth (1/12th)
multiplied by the sum of such Eligible Employee's annual base salary (determined
as of the date immediately prior to the date of such Eligible Employee's
Constructive or Involuntary Termination Without Cause and, if such Eligible
Employee receives commissions, including the average monthly commissions to
which such Eligible Employee was entitled over the three month period preceding
such Eligible Employee's Constructive or Involuntary Termination), plus 100% of
such Eligible Employee's target bonus as determined under the Key Managers
Incentive Program.

     (h)  "CONSTRUCTIVE TERMINATION" as to any Eligible Employee means, without
the consent of such Eligible Employee, the occurrence of any of the following
events or conditions for reasons other than Cause:

                                       2.

<PAGE>
          (i)       any reduction by the Company in the annual base salary of
such Eligible Employee;

          (ii)      any failure to pay such Eligible Employee any compensation
or benefits to which such Eligible Employee is entitled within five (5) days of
the date due;

          (iii)     the failure by the Company to continue in effect (without
reduction in benefit level) any material employee benefit or material
compensation bonus plan or program for which such Eligible Employee was eligible
or in which such Eligible Employee was participating, unless such benefit plan
or program is replaced with a benefit plan or program that provides either (a)
substantially equivalent compensation or benefits to such Eligible Employee or
(b) compensation and benefits which, in the aggregate, are at least equal (in
terms of benefit levels) in all material respects to those provided for under
each other material employee benefit plan, program and practice for which such
Eligible Employee was eligible or in which such Eligible Employee was
participating;

          (iv)      any change in such Eligible Employee's status, title,
position or material responsibilities (including reporting responsibilities)
which represents an adverse change from the Participant's status, title,
position or material responsibilities;

          (v)       the assignment to such Eligible Employee of any material
duties or responsibilities which are substantially inconsistent with such
Eligible Employee's status, title, position or material responsibilities;

          (vi)      any removal of such Eligible Employee from or failure to
reappoint or reelect such Eligible Employee to any title or position;

          (vii)     the relocation of such Eligible Employee or the relocation
of the Company's principal executive offices if such Eligible Employee's
principal office is at such offices to a location more than fifty (50) miles
from the location at which such Eligible Employee was performing his or her
duties as of the date immediately prior to such relocation, except for required
travel on the Company's business to the extent substantially consistent with
such Eligible Employee's business travel obligations as of the date immediately
prior to such change in business travel obligations;

          (viii)    a material breach by the Company of any material provision
of any plan or agreement between the Company and such Eligible Employee, whether
pursuant to this Plan or otherwise, other than a breach which is cured by the
Company within fifteen (15) days following notice by such Eligible Employee of
such breach; provided, however, that the Company's failure to cure any alleged
material breach within such fifteen (15) day notice period shall itself
constitute a material breach as set forth herein to which the fifteen (15) day
notice and cure period shall not apply and such Eligible Employee shall be
immediately entitled to the severance benefits provided herein; and

          (ix)      any failure by the Company to obtain the assumption of, or
any failure by any Successor to assume, this Plan.

                                       3.

<PAGE>
     (i)  "ELIGIBLE EMPLOYEE" means those employees identified on Schedule A
attached hereto, and as amended from time to time with the approval of the
Board.

     (j)  "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended.

     (k)  "INVOLUNTARY TERMINATION WITHOUT CAUSE" as to any Eligible Employee
means such Eligible Employee's dismissal or discharge by the Company for a
reason other than for Cause. The termination of such Eligible Employee's
employment will not be deemed to be an "Involuntary Termination Without Cause"
if such termination occurs as a result of such Eligible Employee's death or
disability.

     (l)  "PARTICIPANT" means an Eligible Employee who has fulfilled the
requirements of Section 4.

     (m)  "PLAN" means the American Microsystems, Inc. 2000 Change in Control
Employee Severance Benefit Plan as set forth in this document, as amended from
time to time.

     (n)  "SEVERANCE COMMITTEE" means the Committee of the Board (and any
delegatee(s) of such Committee) established as of the effective date of this
Plan to administer this Plan in accordance with its terms.

     (o)  "SUCCESSOR" means any surviving entity existing after, or resulting
from, a Change in Control and any other person or entity who is a successor by
merger, acquisition, consolidation or otherwise to the business formerly carried
on by the Company.

SECTION 4.   ELIGIBILITY AND PARTICIPATION.

     Any Eligible Employee shall become a Participant in the Plan if each
Eligible Employee's employment with the Company terminates due to either an
Involuntary Termination Without Cause or a Constructive Termination, in either
case at any time during the period beginning ninety (90) days before and ending
twelve (12) months following the effective date of a Change in Control.

SECTION 5.   BENEFITS.

     (a)  SALARY CONTINUATION.  Each Participant shall receive a lump sum
payment in an amount equal to the product of his or her Compensation multiplied
by the number of months to which he is entitled to such Compensation continuance
as set forth in Schedule A attached hereto, to be paid as soon as practicable,
but in no event later than ten (10) days following the date of the Participant's
Involuntary Termination Without Cause or Constructive Termination.

     (b)  HEALTH BENEFITS.  The Company shall make the applicable health
insurance premium payment for the Participant and the Participant's
dependent(s), pursuant to COBRA or otherwise, through the end of the last month
for which the Participant receives Compensation continuance as set forth in
Schedule A attached hereto.

                                       4.
<PAGE>
     (c)  RESTRICTED STOCK / STOCK OPTION VESTING.  The vesting of each option
to purchase shares of the Company's stock (the "Option") and any restricted
stock subject to a right of repurchase on behalf of the Company held by a
Participant which has not expired as of the date of the Participant's
Involuntary Termination Without Cause or Constructive Termination shall be
accelerated in full and the terms of each such Option and/or stock purchase
agreement, as applicable, shall be amended to reflect the vesting provisions set
forth in this Subsection 5(c).

     (d)  FUTURE OPTION GRANTS.  To the extent that, on or before the effective
date of this plan, a Participant first became contractually entitled to the
grant of any option(s) to purchase shares of the Company's stock based upon a
grant date which has not yet occurred but which is contingent upon achievement
of a specified milestone (for example, being actively employed on the
Participant's employment anniversary date) (the "Future Option"), the grant of
any and all such Future Options shall be accelerated such that the grant(s)
shall occur immediately (with the exercise price applicable to such grants being
equal to the fair market value per share as of the date such Eligible Employee
becomes a Participant as determined in good faith by the Board) and such Future
Options shall be fully vested upon grant and the terms of such Future Option(s)
shall reflect the provisions set forth in this Subsection 5(d).

     (e)  401(k) FORFEITURES.  Each Participant shall receive a lump sum payment
in an amount equal to the Participant's unvested account balance in any 401(k),
profit sharing, or comparable plan maintained by the Company that such
Participant shall forfeit as a result of such Participant's Constructive
Termination or Involuntary Termination Without Cause which results in the
Eligible Employee's separation of employment with the Company, to be paid as
soon as practicable, but in no event later than ten (10) days following the
Participant's termination of employment.

     (f)  MAXIMUM POTENTIAL TARGET BONUS.  Notwithstanding any requirement under
the Key Managers Incentive Program that an Eligible Employee be employed by the
Company as of the date on which target bonuses are paid under such incentive
program, each Participant shall receive the maximum potential target bonus as
determined under the Key Managers Incentive Program that the Participant would
have received if the Participant and the Company had continued to perform at the
level at which the Participant and the Company were performing as of the date
immediately prior to the Participant's Constructive Termination or Involuntary
Termination Without Cause and if the Participant had been employed on the date
such target bonus was paid. Such bonus payment shall be a lump sum payment to be
paid as soon as practicable, but in no event later than ten (10) days following
the date of the Participant's Involuntary Termination Without Cause or
Constructive Termination.

     (g)  NO DUPLICATION OF BENEFITS.  To the extent that an Eligible Employee
becomes a Participant pursuant to Section 4 herein and receives benefits in
accordance with this Section 5 herein, such Participant shall not be entitled to
receive any benefits under this Plan which are in any way duplicative of those
previously received under this Plan.

SECTION 6.   ADMINISTRATION AND OPERATION OF THE PLAN.

     (a)  PLAN SPONSOR AND ADMINISTRATOR.  The Company is the "Plan Sponsor" and
the "Plan Administrator" of the Plan (as such terms are defined in ERISA) and
shall have

                                       5.

<PAGE>

responsibility for complying with any reporting and disclosure rules applicable
to the Plan under ERISA; provided, however, that in all other respects, except
as provided herein, the Plan shall be administered and operated by the
Severance Committee and its delegatee(s). The Severance Committee is empowered
to construe and interpret the provisions of the Plan and to decide all
questions of eligibility for benefits under this Plan and shall make such
determinations in its sole and absolute discretion which shall be conclusive
and binding upon all persons. The Severance Committee may at any time delegate
to any other named person or body, or reassume therefrom, any of its fiduciary
responsibilities or administrative duties with respect to this Plan.

     (b)  The members of the Severance Committee shall be the named fiduciaries
with respect to this Plan for purposes of Section 402 of ERISA.

     (c)  The Severance Committee may contract with one or more persons
including, but without limitation, actuaries, attorneys, accountants and
consultants to render advice with regard to any responsibility it has under the
Plan.

     (d)  Subject to the limitations of this Plan, the Severance Committee
shall from time to time establish such rules for the administration of this
Plan as it may deem desirable.

     (e)  The Company shall, to the extent permitted by law, by the purchase of
insurance or otherwise, indemnify and hold harmless the members of the
Severance Committee and each other fiduciary with respect to this Plan for
liabilities or expenses they and each of them incur in carrying out their
respective duties under the Plan, other than for any liabilities or expenses
arising out of such fiduciary's gross negligence or willful misconduct. A
fiduciary shall not be responsible for any breach of responsibility of any
other fiduciary except to the extent provided in Section 405 of ERISA.

SECTION 7.     CLAIMS, INQUIRIES AND APPEALS.

     (a)  APPLICATIONS FOR BENEFITS AND INQUIRIES.  No application for benefits
is required under this Plan and payment of benefits shall be in accordance with
Sections 4 and 5 herein. If an Eligible Employee or any other individual
(collectively "claimant") believes that benefits under this Plan are being
wrongfully denied, that the Plan is not being operated in accordance with its
terms, or that the claimants legal rights are being violated with respect to
the Plan, the claimant must file a formal claim in writing within one (1) year
of the date upon which the claimant knew or should have known the facts upon
which the claim is based. Any claim for benefits under this Plan shall be in
writing, signed and submitted to: Severance Committee, American Microsystems,
Inc., 16644 West Bernardo Drive, Suite 301, San Diego, California 92127.

     (b)  DENIAL OF CLAIMS.  If any benefits are denied in whole or in part,
the Severance Committee must notify the claimant, in writing, of such denial,
and of the claimant's right to review of the denial. The written notice of
denial will be set forth in a manner designed to be understood by the claimant,
and will include specific reasons for the denial, specific references to the
Plan provision upon which the denial is based, a description of any information
or material that the Severance Committee needs to complete the review and an
explanation of the Plan's review procedure. This written notice will be
provided to the claimant within thirty (30) days

                                       6.
<PAGE>

after the first date as of which any benefits would otherwise have been paid or
payable under Section 5. If such written notice of denial is not furnished
within such thirty (30) day period, such benefits may not be denied. The
claimant may appeal any denial in accordance with the review procedure
described below.

     (c)  REQUEST FOR REVIEW.  The claimant (or the claimant's authorized
representative) may appeal a denied benefit by submitting a written request for
a review to: Severance Committee, American Microsystems, Inc., 16644 West
Bernardo Drive, Suite 301, San Diego, California 92127.

          (i)  Any appeal must be submitted within sixty (60) days after
receipt of notice of denial. The Severance Committee will give the claimant (or
the claimant's representative) an opportunity to review pertinent documents in
preparing a request for a review.

          (ii)  A request for review must set forth all of the grounds on which
it is based, all facts in support of the request and any other matters that the
claimant or the claimant's representative feel are pertinent. The Severance
Committee may require the claimant or the claimant's representative to submit
additional facts, documents or other material as it may reasonably find
necessary or appropriate in making its review.

          (iii)  If the claimant wishes to submit additional information in
connection with an appeal from the denial of benefits, the claimant may be
required to do so at the claimant's own expense.

     (d)  DECISION ON REVIEW.  The Severance Committee will act on each request
for review within thirty (30) days after receipt of the request. The Severance
Committee will give written notice of its decision to the applicant. In the
event that the Severance Committee confirms the denial of benefits in whole or
in part, the notice will outline the specific Plan provisions upon which the
decision is based. If written notice of the Severance Committee's decision is
not given within the thirty (30) day period prescribed in this Subsection 7(d),
the denial of the benefits will be deemed reversed, and such benefits shall be
paid within ten (10) days of such deemed reversal.

     (e)  PAYMENT OF INTEREST.  In the event that the Severance Committee (or
its delegatee(s)) reverses the denial of any benefits, the claimant shall
receive, in addition to the benefits to which he or she is entitled pursuant to
Sections 4 and 5 herein, interest in an amount equal to eight (8%) per annum
compounded monthly from the date of the Participant's Constructive Termination
or Involuntary Termination Without Cause to the date on which such benefits are
paid.

     (f)  EXHAUSTION OF REMEDIES.  No legal action for benefits under the Plan
may be brought until (i) notification of the denial of such benefits by the
Severance Committee is received or such benefits have not been paid within the
thirty (30) day period specified in Section 7(b), (ii) a written request for
review of the denial has been submitted in accordance with the appeal procedure
described above and (iii) the person appealing the denial has been notified in
writing that the Severance Committee has denied the appeal or such benefits
have not been paid in accordance with Section 7(d) within ten (10) days of any
such deemed reversal.

                                       7.
<PAGE>
SECTION 8. BASIS OF PAYMENTS TO AND FROM THE PLAN.

     All benefits under the Plan shall be paid by the Company. The Plan shall
be unfunded and benefits hereunder shall be paid only from the general assets
of the Company.

SECTION 9. PARACHUTE PAYMENTS.

     In the event that the benefits provided in Section 5 herein and benefits
otherwise payable to a Participant (i) constitute "parachute payments" within
the meaning of Section 280G of the Code, or any comparable successor
provisions, and (ii) but for this Section would be subject to the excise tax
imposed by Section 4999 of the Code, or any comparable successor provisions
(the "Excise Tax"), then such Participant's benefits hereunder shall be either

          (i)  provided to such Participant in full, or

          (ii) provided to such Participant as to such lesser extent which
would result in no portion of such benefits being subject to the Excise Tax,

whichever of the foregoing amounts, when taking into account applicable
federal, state, local and foreign income and employment taxes, the Excise Tax,
and any other applicable taxes, results in the receipt by such Participant, on
an after-tax basis, of the greatest amount of benefits, notwithstanding that
all or some portion of such benefits may be taxable under the Excise Tax.
Unless the Company and such Participant otherwise agree in writing, any
determination required under this Section 9 shall be made in writing in good
faith by the Accountants. In the event of a reduction of benefits hereunder,
the Participant shall be given the choice of which benefits to reduce. For
purposes of making the calculations required by this Section 9, the Accountants
may make reasonable assumptions and approximations concerning applicable taxes
and may rely on reasonable, good faith interpretations concerning the
application of the Code, and other applicable legal authority. The Company and
the Participant shall furnish to the Accountants such information and documents
as the Accountants may reasonably request in order to make a determination
under this Section 9. The Company shall bear all costs the Accountants may
reasonably incur in connection with any calculations contemplated by this
Section 9.

     If, notwithstanding any reductions described in this Section 9, the IRS
determines that the Participant is liable for the Excise Tax as a result of the
receipt of the payment of benefits as described above, then the Participant
shall be obligated to pay back to the Company, within thirty (30) days after a
final IRS determination or in the event that the Participant challenges the
final IRS determination, a final judicial determination, a portion of the
payment equal to the "Repayment Amount." The Repayment Amount with respect to
the payment of benefits shall be the smallest such amount, if any, as shall be
required to be paid to the Company so that the Participant's net after-tax
proceeds with respect to any payment of benefits (after taking into account
the payment of the Excise Tax and all other applicable taxes imposed on such
payment) shall be maximized. The Repayment Amount with respect to the payment
of benefits shall be zero if a Repayment Amount of more than zero would not
result in the Participant's net after-tax proceeds with respect to the payment
of such benefits being maximized. If the Excise Tax is not eliminated pursuant
to this paragraph, the Participant shall pay the Excise Tax.

                                    8.

<PAGE>
     Notwithstanding any other provision of this Section 9, if (i) there is a
reduction in the payment of benefits as described in this Section 9, (ii) the
IRS later determines that the Participant is liable for the Excise Tax, the
payment of which would result in the maximization of the Participant's net
after-tax proceeds (calculated as if the Participant's benefits had not
previously been reduced), and (iii) the Participant pays the Excise Tax, then
the Company shall pay to the Participant those benefits which were reduced
pursuant to this Section 9 contemporaneously or as soon as administratively
possible after the Participant pays the Excise Tax so that the Participant's
net after-tax proceeds with respect to the payment of benefits is maximized.

     If the Participant either (i) brings any action to enforce rights pursuant
to this Section 9, or (ii) defend any legal challenge to his or her rights
hereunder, the Participant shall be entitled to recover attorneys' fees and
costs incurred in connection with such action, regardless of the outcome of
such action; provided, however, that in the event such action is commenced by
the Participant, the court finds the claim was brought in good faith.

SECTION 10. AMENDMENT AND TERMINATION.

     The Company reserves the right to amend or terminate this Plan at any
time; provided, however, that this Plan may not be amended or terminated at any
time on or before July 25, 2001, without the prior written consent of each
Eligible Employee, and provided further, that the Plan may not be amended or
terminated within twelve months following the effective date of any Change in
Control that occurs on or before July 25, 2001.

SECTION 11. NON-ALIENATION OF BENEFITS.

     No Plan benefit may be anticipated, alienated, sold, transferred,
assigned, pledged, encumbered or charged, and any attempt to do so will be void.

SECTION 12. SUCCESSORS AND ASSIGNS.

     This Plan shall be binding upon the Company and any Successor without
regard to whether or not such person actively adopts or formally continues the
Plan. Eligible Employees are intended third party beneficiaries of this
provision.

SECTION 13. LEGAL CONSTRUCTION.

     This Plan shall be interpreted in accordance with ERISA and, to the extent
not preempted by ERISA, with the laws of the State of California. This Plan is
intended to be an employee welfare benefit plan, as defined in Section 3(1),
Subtitle A of title I of ERISA. The Plan shall be interpreted to effectuate this
intent.

SECTION 14. OTHER PLAN INFORMATION.

     PLAN IDENTIFICATION NUMBER: 510

     EMPLOYER IDENTIFICATION NUMBER: 33-0918993

                                       9.

<PAGE>
     ENDING OF THE PLAN'S FISCAL YEAR: December 31.

     AGENT FOR THE SERVICE OF LEGAL PROCESS: The Plan's agent for service of
legal process is: Alfred Castleman, American Microsystems, Inc., 16644 West
Bernardo Drive, Suite 301, San Diego, California 92127.

SECTION 15. STATEMENT OF ERISA RIGHTS AND DUTIES.

     (a) Participants in this Plan (which is a welfare benefit plan sponsored
by the Company) are entitled to certain rights and protection under ERISA,
including the rights to:

          (i) Examine, without charge, at the Plan Administrator's office and
at other specified locations, such as work sites, all Plan documents and copies
of all documents filed by the Plan with the U.S. Department of Labor, such as
detailed annual reports;

          (ii) Obtain copies of all Plan documents and Plan information upon
written request to the Plan Administrator. The Plan Administrator may make a
reasonable charge for the copies; and

          (iii) Receive a summary of the Plan's annual financial report, in the
case of a plan which is required to file an annual financial report with the
Department of Labor. (Generally, all pension plans and welfare plans with 100
or more participants must file these annual reports.)

     (b) In addition to creating rights for Plan participants, ERISA imposes
duties upon the people responsible for the operation of the employee benefit
plan. The people who operate the Plan, called "fiduciaries" of the Plan, have a
duty to do so prudently and in the interest of Plan participants and
beneficiaries.

     (c) No one, including the Company or any other person, may fire any person
or otherwise discriminate against him or her in any way to prevent him or her
from obtaining a Plan benefit or exercising rights under ERISA. If a Plan
benefit is denied in whole or in part, the claimant must receive a written
explanation of the reason for the denial. A claimant has the right to have the
Plan Administrator review and reconsider his or her claim.

     (d) Under ERISA, there are steps an employee can take to enforce the above
rights. For instance, if an employee requests materials from the Plan
Administrator and does not receive them within 30 days, he or she may file suit
in a federal court. In such a case, the court may require the Plan Administrator
to provide the materials and pay up to $100 a day until the employee receives
the materials, unless the materials were not sent because of reasons beyond the
control of the Plan Administrator. If an employee has a claim for benefits that
is denied or ignored, in whole or in part, he or she may file suit in a state or
federal court. If it should happen that the Plan fiduciaries misuse the Plan's
money, or if an employee is discriminated against for asserting his or her
rights, he or she may seek assistance from the U.S. Department of Labor, or file
suit in a federal court. The court will decide who should pay court costs and
legal fees. If he or she is successful, the court may order the person sued to
pay these costs and fees. If he or she is unsuccessful, the court may order him
or her to pay these costs and fees, for example, if it finds the claim is
frivolous.

                                      10.

<PAGE>
     (e)  If an employee has any questions about this statement or about his or
her rights under ERISA, he or she should contact the nearest office of the
Pension and Welfare Benefits Administration, U.S. Department of Labor, listed
in the telephone directory, or the Division of Technical Assistance and
Inquiries, Pension and Welfare Benefit Administration, U.S. Department of
Labor, 200 Constitution Avenue N.W., Washington, D.C. 20210.

     IN WITNESS HEREOF, this instrument, evidencing the terms of the American
Microsystems, Inc. 2000 Change in Control Employee Severance Benefit Plan, is
agreed to and duly executed as of                 , 2000.

                                        AMI SPINCO INC.

                                        By: ___________________________________
                                            Alfred B. Castleman
                                            Chief Financial Officer

              [SIGNATURE PAGE TO EMPLOYEE SEVERANCE BENEFIT PLAN]

<PAGE>
                          American Microsystems, Inc.
                     SCHEDULE A FOR SEVERANCE BENEFIT PLAN
<Table>
<Caption>
                                                            NUMBER OF
          NAME                                               MONTHS
          ----                                               ------
<S>                                                        <C>
H. GENE PATTERSON                                              24
ALFRED CASTLEMAN                                               24
HAROLD BLOMQUIST                                               18
DANIEL SCHROEDER                                               18
GLENN FRASER                                                   18
RICARDO JIMENEZ                                                18
THOMAS SCHIERS                                                 18
STEPHEN RANSOM                                                  9
ALLAN MORRISON                                                  9
ROBERT KLOSTERBOER                                              9
CHRISTOPHER LAYTON                                              9
THOMAS MILLS                                                    9
JOHN SPICER                                                     9
BRENT JENSEN                                                    9
VINCE HOPKIN                                                    9
JON STONER                                                      9
RANDY JACOBS                                                    9
MICHAEL REILLY                                                  9
</Table><PAGE>
                                                                   Exhibit 10.18

     BIJLAGE BIJ DE NOTULEN VAN DE ALGEMENE VERGADERING VAN VENNOTEN VAN________
2002 MET BETREKKING TOT DE BENOEMING VAN DE HEER WALTER MATTHEUS VOOR HET
MANDAAT VAN BEZOLDIGD ZAAKVOERDER VAN AMI SEMICONDUCTOR BELGIUM BVBA.

OVERWEGENDE DAT:

-    De Algemene Vergadering van vennoten van AMI Semiconductor Belgium BVBA
     (hierna 'AMIS' genoemd) tijdens haar vergadering van 6 mei 2002 de heer
     Walter Mattheus (hierna 'de zaakvoerder' genoemd) heeft benoemd tot
     onbezoldigd zaakvoerder;

-    De Algemene Vergadering van vennoten van AMIS tijdens haar vergadering van
     ____________ 2002 heeft beslist de heer Walter Mattheus met ingang van 26
     juni 2002 een vergoeding te verstrekken voor de uitoefening van zijn
     mandaat van zaakvoerder;

-    De Algemene Vergadering van vennoten van AMIS tijdens haar vergadering van
     ____________ 2002 heeft beslist de zaakvoerder voor onbepaalde duur te
     benoemen;

-    De functie van zaakvoerder als volgt zal worden aangepast:

ARTIKEL 1      VERGOEDING

De zaakvoerder zal voor de uitoefening van zijn mandaat en van alle andere taken
die hij eventueel zal vervullen bij verbonden groepsvennootschappen, een
jaarlijkse vergoeding ontvangen van 337.500 EUR, te betalen in twaalf
maandelijkse termijnen.

De partijen komen overeen dat de vergoeding zal slaan op de prestaties geleverd
in Belgie (75%) en in de Verenigde Staten (25%) in dienst van AMI Semiconductor
Inc. en overeenkomstig in deze landen zal uitbetaald worden.

De vergoeding kan jaarlijks in gemeonschappelijk overleg worden geevalueerd.

ARTIKEL 2      TERUGBETALING VAN ONKOSTEN

AMIS zal de door de zaakvoerder gemaakte kosten terugbetalen door middel van een
totaal jaarlijks forfaitair nettobedrag van 10.000 EUR, te betalen in twaalf
maandelijkse termijnen. Dit forfait zal de volgende kosten dekkeni onkosten
verband houdend met bedrijfsactiviteiten van AMIS.

                                                                               1

<PAGE>
Naast de hierboven vermelde kosten zal AMIS, na voorlegging van een
onkostennota door de zaakvoerder de kosten terugbetalen die de zaakvoerder
redelijkerwijze heeft opgelopen in de uitoefening van zijn mandaat.

De zaakvoerder zal AMIS een lijst van de gemaakte kosten bezorgen, samen met
stavingsstukken voor deze kosten.

Vergoedingen die worden betaald voor aanvullende uitgaven, zoals hierboven
vermeld, gelden enkel als terugbetaling van kosten en kunnen geenszins,
rechtstreeks of onrechtstreeks, worden beschouwd als deel van de normale
vergoeding.

ARTIKEL 3      BEDRIJFSWAGEN

AMIS zal een bedrijfswagen (van het type Mercedes E320 of gelijkwaardig) ter
beschikking stellen van de zaakvoerder overeenkomstig het budget waarin
hiervoor is voorzien en overeenkomstig het beleid van AMIS inzake
bedrijfswagens.

Het prive-gebruik van de bedrijfswagen zal worden beschouwd als een in Belgie
belastbaar voordeel en zal dus als zodanig worden aangegeven overeenkomstig de
Belgische belastingwetgeving.

ARTIKEL 4      BUITENWETTELIJKE VOORDELEN

In zijn hoedanigheid van zaakvoerder van AMIS, zal de zaakvoerder deelnemen aan
de algemene groepsverzekeringsregeling die binnen de onderneming van toepassing
is.

AMIS zal de beheerder van het pensioenplan op de hoogte brengen van het bedrag
van de vergoeding dat pensioenrechten opent en zal alle bijdragen betalen
overeenkomstig het bedrijfspensioenplan voor zelfstandige zaakvoerders dat bij
AMIS van toepassing is.

Verder zal de zaakvoerder ook deelnemen in de ziekte- en
invaliditeitsverzekering die bij AMIS van toepassing is, en in de
overlijdensverzekering.

ARTIKEL 5      AANDELENOPTIEPLAN

De zaakvoerder zal in aanmerking komen voor het Amerikaanse "AMI Semiconductor,
Inc. Stock Option Plan". AMIS heeft de Board of Directors van AMI Semiconductor
Inc. (hierna genoemd de "Board" aanbevolen dat de zaakvoerder opties zal
toegekend worden ten belope van 300.000 aandelen ("shares of Stock"). Het
aantal aandelen is voorwaardelijk en hangt af van de goedkeuring door de Board,
De uitoefeningsprijs zal eveneens beslist worden op de volgende vergardering
van de Board. De verkrijgingsperiode bedraagt 4 jaar, een volledig jaar
tewerkstelling is vereist voor de eerste 25%, daarna zal de resterende 75%
maandelijks verworven worden over de volgende 36 maanden.

                                                                               2

<PAGE>
ARTIKEL 6  BONUSREGELINGEN

De zaakvoerder zal ook in aanmerking blijven komen voor het "Retention Bonus
Plan" van AMIS van 40% van de jaarlijkse vergoeding welke betaalbaar is voor de
helft na 6 maanden en voor de andere helft na 12 maanden indien hij actief
blijft bij AMIS. Hij zal eveneens in aanmerking komen voor het bonusplan voor
het management ten belope van 50% van de jaarlijkse vergoeding afhankelijk van
de verwezenlijking van de bedrijfs- en individuele doelstellingen die door de
Board zullen bepaald worden. Deze beide bonusplannen zullen later
gedetailleerder beschreven worden eens de Board is samengekomen.

ARTIKEL 7  AANSPRAKELIJKHEIDSVERZEKERING

AMIS zal al het nodige doen om ervoor te zorgen dat de
aansprakelijkheidsverzekering voor "Directors" en "Officers" die bij de
moedervennootschap (AMI Semiconductor Inc.) van toepassing is, de burgerlijke
aansprakelijkheid van de zaakvoerder evenals alle verdedigingskosten met
betrekking tot burgerrechtelijke, strafrechtelijke en/of administratieve
geschillen zal dekken.

ARTIKEL 8  BEEINDIGING VAN HET MANDAAT

Elk van de partijen kan het mandaat beeindigen overeenkomstig het gemeen
burgerlijk recht en vennootschapsrecht.

Indien AMIS het mandaat beeindigt, zal AMIS evenwel het volgende betalen:

--   Een bedrag van 3 keer de totale vergoeding. De totale vergoeding wordt als
     volgt bepaald;

1.   de jaarlijkse vergoeding, zoals bepaald in artikel 1 van onderhavige
     voorwaarden, verdiend gedurende de laatste twaalf maanden, waarbij de
     laatste maandelijkse uitbetaling als basis zal dienen voor de berekening
     van de jaarlijkse vergoeding;

2.   de eventuele bijkomende bedragen die tijdens de laatste twaalf maanden
     zouden zijn betaald;

3.   de waarde van de voordelen in natura van het prive-gebruik van de
     bedrijfswagen zoals bepaald in artikel 3;

4.   de bijdragen betaald voor de buitenwettelijke voordelen zoals bepaald in
     artikel 4.

--   Een aanvullend bedrag van een twaalfde van de hierboven bepaalde totale
     vergoeding zal worden uitbetaald voor elke volledig bereikte periode van 1
     jaar ancienniteir vanaf de inwerkingtreding van de huidige bijlage.

--   Deze vergoeding is niet verschuldigd indien het mandaat wordt beeindigd
     wegens een aan de zaakvoerder toe te schrijven zware fout of omdat de
     zaakvoerder de leeftijd van 65 jaar heeft bereikt. Als zware four zal enkel
     het volgende worden beschouwd: bedrog en opzettelijke bedoeling om schade
     te veroorzaken.

Indien de zaakvoerder het mandaat wenst te beeindigen dient deze een redelijke
opzeggingstermijn van 3 maanden in acht te nemen met het oog op zijn vervanging
en de

                                                                               3

<PAGE>
overdracht van verantwoordelijkheden. Indien de zaakvoerder deze
opzeggingtermijn niet in acht neemt is hij aan AMIS een opzeggingsvergoeding
verschuldigd die overeenstemt met de maandelijkse vergoedingen van de
zaakvoerder voor de betreffende opzeggingstermijn.

ARTIKEL 9      TOEPASSELIJKE WETGEVING

Deze bijlage is onderworpen aan het Belgische racht.

Opgesteld te Oudenaarde op 26 Juni 2002 in twee originelen, waarvan
elke partij verklaart er een te hebben ontvangen.

/s/ Walter Mattheus
--------------------
AMIS
Hierbij vertegenwoordigd door Walter Mattheus
In zijn hoedanigheid van gevolmachtigde van de vennoten

De zaakvoerder aanvaardt hierbij het mandaat van bezoldigd zaakvoerder en
aanvaardt de hierboven uiteengezette voorwaarden en verbindt zich ertoe ze in
acht te nemen.

/s/ Walter Mattheus
--------------------
Walter Mattheus

                                                                               4
<PAGE>
        APPENDIX TO THE MINUTES OF THE GENERAL SHAREHOLDERS' MEETING OF
             .........2002, REGARDING THE APPOINTMENT OF MR. WALTER
         MATTHEUS IN THE OFFICE OF COMPENSATED DIRECTOR ("ZAAKVOERDER")
                       OF AMI SEMICONDUCTOR BELGIUM BVBA.

WHEREAS:

-  The General Shareholders' Meeting of AMI Semiconductor Belgium BVBA
   (hereafter referred to as 'AMIS') has appointed Mr. Walter Mattheus
   (hereafter referred to as 'the Director') as a non-compensated Director
   ("zaakvoerder") in its meeting of 6 May 2002;

-  The General Shareholders' Meeting of AMIS has decided in its meeting of
         , 2002 to provide Mr. Walter Mattheus with a compensation for the
   performance of his duties as a Director ("zaakvoerder") as from 26 June
   2002;

-  The General Shareholders' Meeting of AMIS has decided in its meeting of
         , 2002 to appoint the Director for an undefined period;

-  The function of Director will be adapted as follows:

ARTICLE 1      COMPENSATION

The Director shall receive a yearly compensation of 337,500 EUR for the
execution of his mandate and of any other duties he would fulfil with related
group companies, payable in twelve monthly instalments.

The parties have agreed that the compensation will consist of compensations for
services rendered in Belgium (75%) and services rendered in the United States
of America (25%) in service of AMI Semiconductor Inc. and will be paid in these
countries accordingly.

The compensation can be evaluated on a yearly basis by mutual consent.

ARTICLE 2      REIMBURSEMENT OF EXPENSES

AMIS will reimburse the expenses of the Director by means of a total yearly
fixed net lump sum of EUR 10,000 payable in twelve monthly installments. This
lump sum reimbursement will cover the business related expenses.

                                       1

<PAGE>
Furthermore, the expenses that the Director reasonably incurred in the
performance of his Office, other than the aforementioned, shall be reimbursed
by AMIS, upon presentation of an expense note.

The Director shall provide AMIS with a list of the expenses incurred,
accompanied by documentary evidence supporting the aforesaid expenses.

Compensations paid for business expenses, as stated above, shall exclusively
cover repayment of costs and can in no event be considered, directly or
indirectly, as part of the normal compensation.

ARTICLE 3      COMPANY CAR

AMIS shall put a company car (Type Mercedes E320 or equivalent) at the disposal
of the Director in accordance with the budget provided for this purpose as well
as with the company car policy of AMIS.

The private use of the company car shall be considered as a taxable benefit in
Belgium and shall therefore be declared as such in accordance with the Belgian
tax legislation.

ARTICLE 4      NON-STATUTORY CORPORATE BENEFITS

In his capacity of Director of AMIS, the Director will participate in the
general group insurance scheme applicable within the company.

AMIS shall inform the pension plan administrator of the pensionable
compensation and shall pay all contributions in accordance with the company
pension plan for self-employed directors as applicable within AMIS.

Further, the Director will also participate in the insurance for illness and
disability applicable within AMIS and in the insurance in case of death.

ARTICLE 5      STOCK OPTION PLAN

The Director will be eligible for the AMI Semiconductor Inc. Stock Option Plan.
We have recommended to the Board of Directors of AMI Semiconductor Inc
(hereafter called the "Board") that you be awarded options in the amount of
300,000 shares of Stock. The amount of stock is subject to Board approval and
the exercise price of the grant will also be established at the next Board
meeting. The vesting term is 4 years, one full year of employment is required
for the first 25%, thereafter, the remaining 75% is vested monthly over the
next 36 months.

                                       2
<PAGE>
ARTICLE 6      BONUS SCHEMES

The Director will also remain eligible for the retention bonus plan within AMIS
of 40% of the yearly compensation payable 50% at 6 months and another 50% at 12
months if he remains active with the company. He will also remain eligible for
the management bonus scheme of 50% of the yearly compensation depending on the
achievement of company and individual objectives to be established by the
Board. Both of these bonus plans will be described in more detail once the
Board has met.

ARTICLE 7      LIABILITY INSURANCE

AMIS will do whatever is necessary to have the parent company's (AMI
Semiconductor Inc.) Directors and Officers liability insurance covering the
civil liability of the Director, as well as all defense costs in civil,
criminal and/or administrative proceedings.

ARTICLE 8      TERMINATION

The Office can be terminated by either party in accordance with the general
civil and corporate legislation.

However, if the Office is terminated by AMIS, the latter will make the
following payments:

-   A sum of 3 times the total compensation. The total compensation is defined
    as:

1.  the yearly compensation, as defined in article 1 of the current Terms and
    Conditions, earned during the past twelve months period, whereby the last
    monthly instalment will be the basis to calculate the yearly compensation;

2.  the additional amounts paid during the last twelve months period, if any;

3.  the value of the benefits in kind for the private use of the company car as
    defined in article 3;

4.  the contributions paid for the non-statutory corporate benefits as defined
    in article 4.

-   A supplement of one twelfth of the total compensation as described above for
    every completed period of 1 year seniority as from the start of the
    underlying Terms and Conditions.

-   This payment is not payable if the Office is terminated on grounds of a
    serious breach ascribed to the Director or because the Director has reached
    the age of 65. Will only be considered as a serious breach: fraud, wilful
    intention to cause loss.

If the Director wishes to terminate the Office, a reasonable notice period of 3
months, in view of replacement and transfer of responsibilities, should be
observed. Should the Director not observe this notice period, a severance pay
equal to the monthly instalments of the Director for such notice period should
be paid out to AMIS.

                                                                               3

<PAGE>
ARTICLE 9      APPLICABLE LAW

The present appendix shall be governed by Belgian law.

Drawn up at Oudenaarde on ..................... 2002 in two copies, whereby each
party acknowledges having received one original.

-----------------------------------
AMIS
Hereby represented by Walter Mattheus
In his capacity of proxy holder of the shareholders

The Director herewith declares to accept the mandate as remunerated Director
and to accept and comply with all the abovementioned Terms and Conditions.

-----------------------------------
Walter Mattheus

                                                                               4

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