Document:

Exhibit 10.20

 

CANDELA
CORPORATION

2008 STOCK PLAN

NOTICE OF STOCK APPRECIATION RIGHT GRANT

 

You (the “Grantee”) have
been granted the following stock appreciation right (“SAR”) relating to shares
of common stock, $0.01 par value per share (the “Common Stock”), of Candela
Corporation, a Delaware corporation (the “Company”), pursuant to the Company’s
2008 Stock Plan (the “Plan”):

 

	
  Name of Grantee:

   

  	
   

  	
                                         

  
	
  Total number of shares
  of Common Stock to which SAR relates:

   

  	
   

  	
                                         

  
	
  Grant Price per share
  of Common Stock:

   

  	
   

  	
  $                                     

  
	
  Date of Grant:

   

  	
   

  	
                                         

  
	
  Expiration Date:

  	
   

  	
                                         

  The SAR may expire earlier as described in the attached Stock Appreciation
  Right Agreement.

  

 

Vesting Schedule

 

	
  Date

  	
   

  	
  Number of Vested SARs On Such Date

  
	
  On or after
                                          ,
  but before                                         

  	
   

  	
  [    %
  of the] [          ] shares
  of Common Stock subject to this SAR

  
	
  On or after
                                          ,
  but before                                         

  	
   

  	
  [    %
  of the] [          ] shares
  of Common Stock subject to this SAR

  
	
  On or after
                                          ,
  but before

  	
   

  	
  an additional
  [    % of the]
  [          ] shares of
  Common Stock subject to this SAR

   

  
	
  On or after
                                          ,
  but before                                         

  	
   

  	
  an additional
  [    % of the]
  [          ] shares of
  Common Stock subject to this SAR

   

  
	
  On or after 

   

  	
   

  	
  100% of the shares of
  Common Stock subject to this SAR

  

 

By your signature and the
signature of the Company’s representative below, you and the Company agree that
this SAR is granted under and governed by the terms and conditions of the Plan
and the Stock Appreciation Right Agreement, both of which are attached to and
made a part of this document.

 

	
  GRANTEE

  	
   

  	
  CANDELA CORPORATION

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Title:

  	
   

  
	
  Address:

  	
   

  	
   

  	
  Date:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

CANDELA
CORPORATION

 

STOCK APPRECIATION
RIGHT AGREEMENT

 

1.          Grant of Stock
Appreciation Right.

 

(a)     Stock Appreciation
Right.  Subject to the terms and
conditions set forth in the Notice of Stock Appreciation Right Grant and this
Stock Appreciation Right Agreement (the “Agreement”), the Company grants to the
Grantee on the Date of Grant a SAR that entitles the Grantee to receive upon
exercise of the SAR a number of shares of Common Stock having a fair market
value equal to the number of shares of Common Stock with respect to which the
SAR is being exercised multiplied by the difference between the fair market
value of a share of Common Stock on the date of exercise of the SAR and the
Grant Price per share of Common Stock.

 

(b)    Plan and Defined Terms.  The SAR is granted pursuant to the Plan, a
copy of which the Grantee acknowledges having received.  All terms, provisions, and conditions
applicable to the SAR set forth in the Plan and not set forth herein are hereby
incorporated by reference herein.  To the
extent any provision hereof is inconsistent with a provision of the Plan, the
provisions of the Plan will govern.  All
capitalized terms that are used in this Agreement and not otherwise defined
herein shall have the meanings ascribed to them in the Notice of Stock
Appreciation Right Grant or, if not defined therein, the Plan.

 

2.          Right to Exercise.  The SAR may be exercised, in whole or in
part, prior to the Expiration Date to the extent it is exercisable.  If the Grantee has continuously served the
Company or any Related Corporation in the capacity of an employee, officer,
director or consultant (such service is described herein as maintaining or
being involved in a “Business Relationship” with the Company), from the Date of
Grant through a date listed under the heading “Vesting Schedule” on the Notice
of Stock Appreciation Right Grant, this SAR shall become exercisable by the
Grantee with respect to the number of additional shares of Common Stock set
forth opposite such date.  Notwithstanding
the foregoing, the Board may, in its discretion, accelerate the date that any
installment of this SAR becomes exercisable. 
The SAR may be exercised by providing a written notice of exercise to
the Company in such form as the Committee may prescribe.

 

3.          Term and Expiration.

 

(a)     Basic Term.  Subject to earlier termination pursuant to
the terms hereof, the SAR shall expire on the Expiration Date set forth in the
Notice of Stock Appreciation Right Grant, which date is 10 years after the Date
of Grant.

 

(b)    Termination of Business
Relationship with the Company.  If the
Grantee ceases to maintain a Business Relationship with the Company, other than
by reason of death or Disability, no further installments of this SAR shall
become exercisable, and this SAR shall terminate after the passage of ninety
(90) days from the date the Business Relationship ceases, but in no event later
than the scheduled Expiration Date.  In
such a case, the Grantee’s only rights hereunder shall be those that are
properly exercised before the termination of this SAR.

 

4.          Death; Disability;
Dissolution.  If the Grantee dies while
involved in a Business Relationship with the Company, this SAR may be
exercised, to the extent of the number of shares of Common Stock with respect
to which the Grantee could have exercised it on the date of the Grantee’s
death, by the Grantee’s estate, personal representative or beneficiary to whom
this SAR has been assigned pursuant to Section 8(c), at any time within
180 days after the date of death, but no later than the scheduled Expiration
Date.  If the Grantee’s Business
Relationship with the Company is terminated by reason of the Grantee’s
Disability, this SAR may be exercised, to the extent of the number of shares of
Common Stock with respect to which the Grantee could have exercised it on the
date the Business Relationship was terminated, at any time within 180 days
after the date of such termination, but not later than the scheduled Expiration
Date.  At the expiration of such 180-day
period or the scheduled Expiration Date, whichever is earlier, this SAR shall
terminate and the only rights hereunder shall be those as to which the SAR was
properly exercised before such termination.

 

5.          Acceleration and Vesting
of SARs for Business Combinations.  If
the Company is the subject of an Acquisition, then this SAR shall, immediately
prior to the consummation of such Acquisition, become fully vested and
immediately exercisable by the Grantee.

 

6.          No Obligation to
Maintain Business Relationship.  The
Company and any Related Corporation are not by the Plan or this SAR obligated
to continue to maintain a Business Relationship with the Grantee.

 

7.          Capital Changes and
Business Successions.  The Plan contains
provisions covering the treatment of SARs in a number of contingencies such as
stock splits and mergers.  Provisions in
the Plan for adjustment with respect to stock subject to SARs and the related
provisions with respect to successors to the business of the Company including,
without limitation, provisions regarding Acquisitions are hereby made
applicable hereunder and are incorporated herein in their entirety by
reference.  Without affecting the
generality of the foregoing, it is understood that for the purposes of Sections
3 and 4 hereof, a Business Relationship with the Company includes a Business
Relationship with a Related Corporation.

 

8.          Miscellaneous
Provisions.

 

(a)     Tax Withholding.  The Company may make such provisions as are
necessary for the withholding of all applicable taxes on the SAR, in accordance
with paragraph 11 of the Plan.  With
respect to the minimum statutory tax withholding required, the Grantee may
elect to satisfy such tax withholding requirement by having the Company
withhold shares of Common Stock from the SAR upon exercise.

 

(b)    Rights as a Stockholder.  Neither the Grantee nor the Grantee’s
representative shall have any rights as a stockholder with respect to any
shares of Common Stock to which the SAR relates unless the SAR has been
exercised and share certificates have been issued to the Grantee or
representative, as the case may be. 
Except as expressly provided in the Plan with respect to certain changes
in the capitalization of the Company, no adjustment shall be made for dividends
or similar rights for which the record date is prior to the date such share
certificates are issued.

 

(c)     Nonassignability of SARs. The
SAR is not assignable or transferable by the Grantee except by will or by the
laws of descent and distribution and as otherwise consistent with the terms of
the Plan and this Agreement. During the lifetime of the Grantee, only the
Grantee shall be entitled to exercise the SAR.

 

(d)    Ratification of Actions.  By accepting the SAR, the Grantee and each
person claiming under or through the Grantee shall be conclusively deemed to
have indicated the Grantee’s acceptance and ratification of, and consent to,
any action taken under the Plan or this Agreement and the Notice of Stock
Appreciation Right Grant by the Company, the Board, or the Committee.

 

(e)     Notice.  Any notice required by the terms of this
Agreement shall be given in writing and shall be deemed effective upon personal
delivery or upon deposit with the United States Postal Service, by registered
or certified mail, with postage and fees prepaid.  Notice shall be addressed to the Company at
its principal executive office and to the Grantee at the address that was most
recently provided by the Grantee in writing to the Company.  The Grantee shall notify the Company upon any
change in the Grantee’s address.

 

(f)       Modification or
Amendment.  This Agreement may only be
modified or amended by written agreement executed by the parties hereto, except
as otherwise provided in paragraph 8 of the Plan regarding the treatment of
SARs upon certain events such as stock splits and mergers.

 

(g)    Entire Agreement.  This Agreement embodies the entire agreement
and understanding between the parties hereto with respect to the subject matter
hereof and supersedes all prior agreements and understandings relating to such
subject matter.

 

(h)    Choice of Law.  This Agreement and the Notice of Stock
Appreciation Right Grant shall be governed by, and construed in accordance
with, the laws of Delaware, as such laws are applied to contracts entered into
and performed in such state.

 

(i)        Counterparts.  This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

 

 

(j)        Severability.  In the event any provision of this Agreement
shall be held illegal or invalid for any reason, the illegality or invalidity
shall not affect the remaining provisions of this Agreement, and this Agreement
shall be construed and enforced as if such illegal or invalid provision had not
been included.December 27, 2008 Exhibit 10.43

Exhibit 10.43
 

MAXIM INTEGRATED PRODUCTS, INC.
  
                  2008 EMPLOYEE STOCK PURCHASE PLAN
 

The Company wishes to attract employees to the Company, its Subsidiaries and Affiliates and to induce employees to
remain with the Company, its Subsidiaries and Affiliates, and to encourage them to increase their efforts to make the Company's business more
successful, whether directly or through its Subsidiaries and Affiliates.  In furtherance thereof, the Plan is designed to provide equity-based
incentives to the Eligible Employees of the Company, its Subsidiaries and Affiliates.  The Plan is intended to comply with the provisions of
Section 423 of the Code and shall be administered, interpreted and construed accordingly, although the Company makes no undertaking or
representation to maintain such qualification.  In addition, the Plan authorizes the purchase of Shares under a Non-423(b) Component, pursuant
to rules, procedures or sub-plans adopted by the Board of Directors or the Committee and designed to achieve tax, securities law or other
objectives.  

	Definitions.

When used herein, the following terms shall have the respective meanings set forth below:

"Affiliate" means any entity, other than a Subsidiary, in which the Company
has an equity or other ownership interest.

"Board of Directors" means the Board of Directors of the Company.

"Code" means the Internal Revenue Code of 1986, as amended.

"Code Section 423(b) Component" shall mean an employee stock purchase plan which is designed
to meet the requirements set forth in Section 423(b) of the Code, as amended.  The provisions of the Code Section 423(b) Plan should be
construed, administered and enforced in accordance with Section 423(b) of the Code.

"Committee" means the committee appointed by the Board of Directors of the Company under
Section 3 hereof.

"Common Stock" means the Common Stock, par value $0.001 per share, of the Company.

"Company" means Maxim Integrated Products, Inc., a Delaware corporation.

"Designated Companies" shall mean the
Company and any Subsidiary or Affiliate which has
been designated by the Board of Directors or the Committee from time to time in its sole discretion as eligible to
participate in the Plan.  For purposes of the Code Section 423(b) Component, only the Company and its Subsidiaries
may be Designated Companies, provided, however that at any given time, a Subsidiary that is a Designated Company under the Code

Section 423(b) Component shall not be a Designated Company under the Non-423(b) Component.

"Effective Date" means the later of December 15, 2008 or the date of the approval of this Plan by
the Company's stockholders.

"Eligible Compensation" for any pay period means, unless otherwise determined by the Committee,
the amount of base salary for such period.  Eligible Compensation does not include, without limitation, any payments for reimbursement of
expenses, bonuses, incentive compensation, overtime, deferred compensation, and other non-cash or non-basic payments, unless otherwise
determined by the Committee.

"Eligible Employee" means employees eligible to participate in the Plan pursuant to the provisions
of Section 4.

"Enrollment Period" means such period preceding an Offer Period as is specified by the Committee
with respect to such Offer Period.

"Exchange Act" means the Securities Exchange Act of 1934, as amended.

"Fair Market Value" per Share as of a particular date means (i) if Shares are then listed on a
national stock exchange, the closing price per Share on the exchange for the last preceding date on which there was a sale of Shares on such
exchange, as determined by the Committee, (ii) if Shares are not then listed on a national stock exchange but are then traded on an over-the-
counter market, the average of the closing bid and asked prices for such Shares in such over-the-counter market for the last preceding date on
which there was a sale of such Shares in such market, as determined by the Committee, or (iii) if Shares are not then listed on a national
exchange or traded on an over-the-counter market, such value as the Committee in its discretion may in good faith determine; provided that,
where such shares are so listed or traded, the Committee may make discretionary determinations where the shares have not been traded for 10
trading days.

"Non-423(b) Component" means the grant of an option under the Plan which is not intended to meet
the requirements set forth in Section 423(b) of the Code, as amended.

"Offer Date" means the first day of an Offer Period.

"Offer Period" means, as applicable, in each case subsequent to the approval of this Plan by the
Company's stockholders, (i) the initial Offer Period beginning on such date to be determined by the Committee and ending on November 28,
2009 (or, if such date is not a trading day, the trading day immediately preceding such date, unless otherwise provided by the Committee), (ii)
the Offer Period beginning on the business day immediately following the last Saturday of May of each year (or, if such date is not a trading day,
the trading day immediately following such date, unless otherwise provided by the Committee) and ending on the business day immediately
preceding the last Saturday of May of the next year (or, if such date is not a trading day, the trading day immediately preceding such date,
unless otherwise provided by the Committee), and (iii) the Offer Period beginning on the business day immediately following the last Saturday of
November of each year (or, if such date is not a trading day, the trading day immediately following such date, unless otherwise provided by the
Committee) and ending on the business

                                                    2

day immediately preceding the last Saturday of November of the next year (or, if such date is not a
trading day, the trading day immediately preceding such date, unless otherwise provided by the Committee).  Each Offer Period of
approximately 12 months in length (except for the initial Offer Period) may overlap each other as set forth above, and each will consist of 2
Purchase Periods of approximately 6 months in length.  

"Participating Employee" means an employee (i) for whom payroll deductions are currently being
made or who otherwise contributes to the Plan, or (ii) for whom payroll deductions are not currently being made or who does not otherwise
contribute to the Plan because he or she has reached the limitation set forth in the first sentence of Section 6.

"Payroll Account" means an account maintained by the Company with respect to each Participating
Employee as contemplated by Section 5.

"Plan" means this Maxim Integrated Products, Inc. 2008 Employee Stock Purchase Plan, as it may
from time to time be amended, which includes a Code Section 423(b) Plan and a Non-423(b) Component.

"Plan Year" means the fiscal year of the Company.

"Purchase Date" means, as applicable, the business day immediately preceding the last Saturday of
May and November (or, if such date is not a trading day, the trading day immediately preceding such date, unless otherwise provided by the
Committee). 

"Purchase Period" means a specified period of time within an Offer Period beginning on the Offer
Date and ending on a Purchase Date.  An Offer Period shall consist of 2 Purchase Periods, each of which shall approximately be 6 months in
length.  

"Shares" means shares of Common Stock.

"Stock Account" means a brokerage account as contemplated by Section 8.

"Subsidiary" means any corporation that is a "subsidiary corporation" with respect to the
Company under Section 424(f) of the Code.

	Shares Reserved for the Plan.

There shall be reserved for issuance and purchase by employees under the Plan an aggregate of 4,000,000
Shares, subject to adjustment as provided in Section 12.  All such Shares may be granted under the Code Section 423 Component.  Shares
subject to the Plan may be Shares now or hereafter authorized but unissued, or Shares that were once issued and subsequently reacquired by
the Company.  If and to the extent that any right to purchase reserved Shares shall not be exercised by any employee for any reason or if such
right to purchase shall terminate as provided herein, Shares that have not been so purchased hereunder shall again become available for the
purposes of the Plan unless the Plan shall have been terminated, but such unpurchased Shares shall not be deemed to increase the aggregate
number of Shares specified above to be reserved for purposes of the Plan (subject to adjustment as provided in Section 12).

                                                    3

	Administration of the Plan.

The Plan shall be administered by the Committee appointed by the Board of Directors.  The Board of Directors shall
consider the rules of Rule 16b-3 promulgated under the Exchange Act in connection with any such appointment, if and to the extent that such
appointments may have an effect thereunder.  Each member of the Committee shall serve at the pleasure of the Board of Directors.  The acts of
a majority of the members present at any meeting of the Committee at which a quorum is present, or acts approved in writing by a majority of
the entire Committee, shall be the acts of the Committee for purposes of the Plan.  If and to the extent applicable, no member of the Committee
may act as to matters under the Plan specifically relating to such member.  Notwithstanding the foregoing, the Board of Directors may designate
the Compensation Committee of the Board of Directors to act as the Committee hereunder.

The Committee may make such rules and regulations and establish such procedures and sub-plans for the operation
and administration of the Plan as it deems appropriate, including relating to the operation and administration of the Plan to accommodate the
specific requirements of local laws and procedures for jurisdictions outside of the United States.  The Committee shall have authority to interpret
the Plan, with such interpretations to be conclusive and binding on all persons and otherwise accorded the maximum deference permitted by
law and shall take any other actions and make any other determinations or decisions that it deems necessary or appropriate in connection with
the Plan or the administration or interpretation thereof.  

	Eligible Employees.

Except as described below, all employees of the Company and its Designated Companies shall be eligible to
participate in the Plan, provided that each of such employees does not own, for purposes of Section 423 of the Code, immediately after the right
is granted, stock possessing 5% or more of the total combined voting power or value of all classes of capital stock of the Company or of a
Subsidiary.

To the extent permitted under local law, the Committee may also exclude from participation in the Plan any or all of (i) a
group of highly compensated employees designated by the Committee as being ineligible to participate in the Plan as permitted by Section
423(b)(4)(D) of the Code, (ii) employees who have been employed by the Company or any Subsidiary for less than 2 years, (iii) employees
whose customary employment is for not more than 5 months in any calendar year, and (iv) employees who customarily work 20 hours per week
or less.  The employment of an employee of a Subsidiary or an Affiliate which ceases to be a "Subsidiary" or an "Affiliate"
as defined herein shall, automatically and without any further action, be deemed to have terminated (and such employee shall cease to be an
Eligible Employee hereunder).

	Election to Participate and Payroll Deductions/Contributions.

Each Eligible Employee may elect to participate in the Plan during the Enrollment Period immediately prior to the
beginning of each Offer Period during a Plan Year.  Each Eligible Employee may elect a payroll deduction of from 1% to 25% of Eligible
Compensation from each paycheck, in increments of 1% (i.e., 1%, 2%, 3%, etc.), unless otherwise so provided by the Committee.  Elections
under this Section 5 are subject to the limits set forth in Section 6.  All

                                                    4

payroll deductions shall be credited, as promptly as practicable, to a
Payroll Account in the name of the Participating Employee.  The Committee, in its discretion, may decide that an Eligible Employee may
contribute to the Plan by means other than payroll deductions.  All funds held by the Company under the Plan shall not be segregated from
other corporate funds (except that the Company may in its discretion establish separate bank or investment accounts in its own name) and may
be used by the Company for any corporate purpose, unless otherwise required by local law.  

Each Participating Employee may cancel his or her election to participate in the Plan by signing and delivering written
notice to the Committee, on a form specified for such purpose by the Committee, at such times as may be established by the Committee.  In
such case, the entire balance in the Payroll Account of such former Participating Employee shall be repaid to such former Participating
Employee as promptly as practicable in accordance with Section 9, without interest.  Upon such voluntary withdrawal during an Offer Period by
a Participating Employee, such withdrawing Participating Employee shall not be entitled to participate in the Plan again during such Offer Period
or the Offer Period immediately following such Offer Period.  Thereafter, such Eligible Employee is eligible to participate in subsequent Offer
Periods under the Plan upon timely delivery of a new enrollment form.

Subject to the preceding paragraph of this Section 5, if so provided by the Committee, an Eligible Employee who is a
Participating Employee immediately prior to the beginning of an Offer Period will be deemed (i) to have elected to participate for such Offer
Period and (ii) to have authorized the same percentage payroll deduction for such Offer Period in effect for such Eligible Employee as that in
effect (without regard to Section 6) on the day before such Offer Period.  The Committee may adopt the procedures set forth in the foregoing
sentence for some but not all Offer Periods.

	Limitation of Number of Shares That an Employee May Purchase.

No right to purchase Shares under the Plan shall provide an employee the right to purchase Common Stock under
all employee stock purchase plans of the Company and its Subsidiaries which accrues at a rate which in the aggregate exceeds $25,000 of the
fair market value of such stock (determined under Section 423 of the Code at the time the right is granted) for each calendar year in which the
right is outstanding at any time.  Notwithstanding the foregoing, the maximum number of shares of Common Stock that an Eligible Employee
may purchase on any Purchase Date during an Offer Period shall not exceed 1,600 shares. 

	Purchase Price.

The purchase price for each Share shall be the lesser of (i) 85% of the Fair Market Value of such Shares on the
Offer Date and (ii) 85% of the Fair Market Value of such Shares on the Purchase Date.

	Method of Purchase.

As of the Purchase Date, each Participating Employee shall be deemed, without any further action, to have
purchased the number of whole Shares which the balance of his or her Payroll

                                                    5

Account at that time will purchase, determined by dividing the
balance in his or her Payroll Account not theretofore invested by the purchase price as determined in Section 7.  

All Shares purchased as provided in the foregoing paragraph shall be initially maintained in separate Stock Accounts for
the Participating Employees at a brokerage firm selected by, and pursuant to an arrangement with, the Company.  The Company shall deliver
the shares to the Stock Account as soon as reasonably practicable after the close of the applicable Purchase Date,
A Participating Employee shall be free to undertake a disposition (as that term
is defined in Section 424 of the Code) of the Shares in his or her Stock Account at any time, whether by sale, exchange, gift or other transfer of
legal title, but, for Participating Employees in the Code Section 423(b) Component, in the absence of such a disposition of such Shares, unless
otherwise provided by the Committee, the Shares must remain in the Participating Employee's Stock Account at the brokerage firm so selected
until the holding period set forth in Section 423(a) of the Code has been satisfied.  With respect to those Shares for which the Section 423(a)
holding period has been satisfied or which are held by Participating Employees in the Non-Section 423(b) Component, the Participating
Employee may, without limitation, move those Shares to another brokerage account of the Participating Employee's choosing or request that a
stock certificate be issued and delivered to him or her.  

If and to the extent provided by the Committee, for so long as such Shares are maintained in Stock Accounts, all
dividends paid with respect to such Shares shall be credited to each Participating Employee's Stock Account, and will be automatically
reinvested in whole Shares.  The Committee may provide that transaction fees incurred with respect to dividend reinvestment may be paid by
the Company.  

Unless otherwise provided by the Committee, in no event shall fractional Shares be purchased hereunder, and any
remaining cash in a Participating Employee's Payroll Account resulting from such failure to invest in fractional Shares shall remain in the Payroll
Account for use in the next Offer Period; provided, however, that, if the Participating Employee is not an active Participating Employee for such
next Offer Period, such remaining cash shall be returned to the Participating Employee as soon as practicable.  Notwithstanding any other
provision of the Plan, the Committee may permit the purchase of fractional Shares hereunder and establish rules and procedures relating
thereto.

	Termination of Participation or Employment.

The right to participate in the Plan shall terminate immediately when a Participating Employee ceases to be
employed by the Company or a Designated Company for any reason (including death or disability) or a Participating Employee otherwise
becomes ineligible.  Participation also terminates: (i) immediately when the Participating Employee voluntarily cancels his or her election to
participate in the Plan as provided in Section 5, (ii) if, immediately after the Purchase Date, the Participating Employee is not re-enrolled in the
Plan for the next Offer Period or (iii) if the Participating Employee has suspended payroll deductions during any Offer Period and has not re-
enrolled in the Plan for the next Offer Period.   

Notwithstanding any other provision of the Plan to the contrary, the Company shall distribute to such former Participating
Employee (or, in the event of death, to his or her estate), the balance in

                                                    6

his or her Payroll Account not theretofore invested, without interest, any
such distribution or payment to be made as soon as practicable.  The Committee shall also cause to be delivered to the former Participating
Employee (or his or her estate), a certificate for the number of whole Shares held in his or her Stock Account within 90 days of the termination of
employment or as soon as practicable thereafter.  If applicable, fractional Shares will be sold on the open market and the Participating
Employee will receive the net proceeds, if any, after all fees have been paid.

	Rights as a Stockholder.

At the time funds from a Participating Employee's Payroll Account are used to purchase the Common Stock, he or
she shall have all of the rights and privileges of a stockholder of the Company with respect to the Shares purchased under the Plan whether or
not certificates representing such Shares have been issued.

	Rights Not Transferable.

Rights granted under the Plan are not transferable by a Participating Employee other than by will or the laws of
descent and distribution and are exercisable during his or her lifetime only by him or her.

	Adjustment in Case of Changes Affecting Common Stock.

If (i) the Company shall at any time be involved in a merger, consolidation, dissolution, liquidation, reorganization,
exchange of shares, sale of all or substantially all of the assets or stock of the Company or its Subsidiaries or a transaction similar thereto, (ii)
any stock dividend, stock split, reverse stock split, stock combination, reclassification, recapitalization or other similar change in the capital
structure of the Company, or any distribution to holders of Common Stock other than cash dividends, shall occur or (iii) any other event shall
occur which in the judgment of the Committee necessitates action by way of adjusting the number or kind of shares, or both, which thereafter
may be sold under the Plan, then the Committee may forthwith take any such action as in its judgment shall be necessary to preserve to the
Participating Employees' rights substantially proportionate to the rights existing prior to such event, and to maintain the continuing availability of
Shares under Section 2 and the last sentence of Section 6 (if Shares are otherwise then available) in a manner consistent with the intent hereof,
including, without limitation, adjustments in (x) the number and kind of shares subject to the Plan, (y) the purchase price of such shares under
the Plan, and (z) the number and kind of shares available under Section 2 and the last sentence of Section 6.  To the extent that such action
shall include an increase or decrease in the number of Shares (or units of other property then available) subject to the Plan, the number of
Shares (or units) available under Section 2 and the last sentence of Section 6 above shall be increased or decreased, as the case may be,
proportionately, as may be provided by Committee in its discretion.

Notwithstanding any other provision of the Plan, if the Common Stock ceases to be listed or traded, as applicable, on a
national stock exchange or over-the-counter market (a "Triggering Event"), then, in the discretion of the Committee, (i) the balance in
the Participating Employee's Payroll Account not theretofore invested may be refunded to the Participating Employee, and

                                                    7

such Participating
Employee shall have no further rights or benefits under the Plan, (ii) an amount equal to the product of the Fair Market Value of a Share on the
date of the Triggering Event multiplied by the number of Shares such Participating Employee would have been able to purchase with the
balance of his or her Payroll Account on such Triggering Event if such Triggering Event were the Purchase Date may be paid to the
Participating Employee, and such Participating Employee shall have no further rights or benefits under the Plan, or (iii) the Plan may be
continued without regard to the application of this sentence.

	Amendment of the Plan.

The Board of Directors may at any time, or from time to time, amend the Plan in any respect; provided, however,
that the Plan may not be amended in any way that would cause, if such amendment were not approved Company's shareholders, the Code
Section 423 Plan to fail to comply with

(i)the requirements for employee stock purchase plans under Section 423 of the Code; or

(ii) any other requirement of applicable law or regulation;

unless and until stockholder approval is obtained.  

	Termination of the Plan.

The Plan and all rights of employees hereunder shall terminate:

(i)on the date that Participating Employees become entitled to purchase a number of Shares greater than the
number of reserved Shares remaining available for purchase; or

(ii)at any time, at the discretion of the Board of Directors.

In the event that the Plan terminates under circumstances described in (i) above, reserved Shares remaining as of the
termination date shall be subject to Participating Employees on a pro rata basis.  No termination of the Plan shall alter or impair any rights
outstanding at the time of the such termination to purchase Shares pursuant to any offering of the right to purchase Shares hereunder.

	Governmental and Other Regulations; Further Assurances.

The Plan, and the grant and exercise of the rights to purchase Shares hereunder, and the Company's obligation to
sell and deliver Shares upon the exercise of rights to purchase Shares, shall be subject to all applicable federal, state and foreign laws, rules
and regulations, and to such approvals by any regulatory or governmental agency as may be required.  The Company shall not be required to
issue or deliver any certificates for Shares prior to the completion of any registration or qualification of such Shares under, and the obtaining of
any approval under or compliance with, any state or federal law, or any ruling or regulation of any government body which the Company shall, in
its sole discretion, determine to be necessary or advisable.

                                                    8

Certificates for Shares issued hereunder may be legended as the Committee may deem appropriate.

The Participating Employee shall take whatever additional actions and execute whatever additional documents the
Committee may in its reasonable judgment deem necessary or advisable in order to carry out or effect one or more of the obligations or
restrictions imposed on the Participating Employee pursuant to the Plan.

	Non-U.S. Subsidiaries.

Without amending the Plan, the Committee may allow for participation under the terms hereunder by Eligible
Employees of non-U.S. Subsidiaries and Affiliates with such modifications of the terms and conditions otherwise specified hereunder as may in
the judgment of the Committee be necessary or desirable to foster and promote achievement of the purposes hereof, and, in furtherance of
such purposes, the Committee may make such amendments, procedures and the like and establish such sub-plans as may be necessary or
advisable to comply with provisions of laws (including tax laws) in other countries in which such Subsidiaries and Affiliates operate or have
employees.  

	Indemnification of Committee.

The Company shall indemnify and hold harmless the members of the Board of Directors of the Company and the
members of the Committee from and against any and all liabilities, costs and expenses incurred by such persons as a result of any act or
omission to act in connection with the performance of such person's duties, responsibilities and obligations under the Plan if such person acts in
good faith and in a manner that he or she reasonably believes to be in, or not opposed to, the best interests of the Company, to the maximum
extent permitted by law.

	Withholding; Disqualifying Dispositions.

Notwithstanding any other provision of the Plan, the Company or the Designated Company shall deduct from all
Payroll Accounts paid under the Plan all federal, state, foreign, local and other taxes required by law to be withheld with respect to such
payments.

If Shares acquired under the Plan are disposed of in a disposition that does not satisfy the holding period requirements
of Section 423(a) of the Code, such Participating Employee in the Code Section 423(b) Plan shall notify the Company in writing as soon as
practicable thereafter of the date and terms of such disposition and, if the Company (or any Subsidiary or Affiliate thereof) thereupon has a
tax-withholding obligation, shall pay to the Company (or such Subsidiary or Affiliate) an amount equal to any withholding tax the Company (or
Subsidiary or Affiliate) is required to pay as a result of the disqualifying disposition (or satisfy such other arrangements as may be permitted by
the Committee). 

	Notices.

All notices under the Plan shall be in writing (which for these purposes shall include reasonably acceptable means
of electronic transmission), and if to the Company, shall be delivered to the Board of Directors or mailed to its principal office, addressed to the
attention of the Board of

                                                    9

Directors; and if to a Participating Employee, shall be delivered personally or mailed to such Participating Employee at
the address appearing in the records of the Company.  Such addresses may be changed at any time by written notice to the other party given in
accordance with this Section 20.

	Severability.

If any particular provision of this Plan is found to be invalid or unenforceable, such provision shall not affect the
other provisions of the Plan, but the Plan shall be construed in all respects as if such invalid provision had been omitted. 

	No Right to Continued Employment.

The Plan and any right to purchase Common Stock granted hereunder shall not confer upon any employee any
right with respect to continued employment by the Company or any Subsidiary or Affiliate, nor shall they restrict or interfere in any way with the
right of the Company or any Subsidiary or Affiliate by which an employee is employed to terminate his or her employment at any time.

	Captions.

The use of captions in the Plan is for convenience.  The captions are not intended to and do not provide substantive
rights.

	Effective Date of the Plan.

The Plan shall be effective as of the Effective Date, provided that the Plan is approved by stockholders prior
thereto.

                                                    10

	Code Section 409A.  

The Code Section 423(b) Plan is exempt from the application of Section 409A of the Code.  The Non-423(b)
Component is intended to be exempt from Section 409A of the Code under the short-term deferral exception and any ambiguities shall be
construed and interpreted in accordance with such intent.  In the case of a Participating Employee who would otherwise be subject to Section
409A of the Code, to the extent an option to purchase Shares or the payment, settlement or deferral thereof is subject to Section 409A of the
Code, the option to purchase Shares shall be granted, paid, exercised, settled or deferred in a manner that will comply with Section 409A of the
Code, including the final regulations and other guidance issued with respect thereto, except as otherwise determined by the Board or Directors
or the Committee.  Notwithstanding the foregoing, the Company shall have no liability to a Participating Employee or any other party if the option
to purchase Common Stock under the Plan that is intended to be exempt from or compliant with Section 409A of the Code is not so exempt or
compliant or for any action taken by the Board of Director or the Committee with respect thereto.

	Governing Law.

The provisions of the Plan shall be governed by and construed in accordance with the laws of the State of
Delaware, without regard to its conflict of law rules.

                                                    11

MAXIM INTEGRATED PRODUCTS, INC. 

2008 EMPLOYEE STOCK PURCHASE PLAN 

ENROLLMENT FORM AGREEMENT

	I hereby elect to participate in the Maxim Integrated Products, Inc. 2008 Employee Stock Purchase Plan (the
"Plan") and subscribe to purchase shares of the Company's Common Stock, in accordance with this Enrollment Form and the Plan.  Unless
otherwise defined herein, capitalized terms shall have the meaning ascribed to such terms in the Plan.

	I hereby authorize payroll deductions from each paycheck in the amount I specified in the online enrollment process through
Smith Barney's website (from 1 to 25%, in increments of 1%) of my Eligible Compensation on each payday during the Offer Period in accordance with
the Plan.  

	I understand that I will be deemed to have elected to participate and authorized the same percentage of payroll deductions,
and my participation in the Plan will automatically remain in effect, from one Offer Period to the next in accordance with my payroll deduction
authorization, unless I withdraw from the Plan or my employment status changes.  To increase or reduce the rate of my payroll deductions, I understand
I will have to complete a new enrollment through Smith Barney's website during the Enrollment Period for the subsequent Offer Period, and the change
in my rate of payroll deductions will become effective only at the beginning of the subsequent Offer Period.

	I understand that my payroll deductions shall be accumulated in a Payroll Account in my name for the purchase of Shares
on the Purchase Date at the applicable purchase price as determined in Section 5 below (the "Purchase Price").  I understand that unless I
withdraw from an Offer Period or my employment status changes, any accumulated payroll deductions will be used to automatically exercise my right to
purchase the number of whole Shares which the balance of my Payroll Account will purchase on the Purchase Date by dividing the balance of my
Payroll Account by the Purchase Price.  

	I understand that if I withdraw from the Plan I will not be entitled to participate in the Plan again during the current Offer
Period or the Offer Period immediately following the current Offer Period.

	I understand that the Purchase Price for each Share shall be the lesser of (i) 85% of the Fair Market Value of such Shares
on the Offer Date and (ii) 85% of the Fair Market Value of such Shares on the Purchase Date.

	I acknowledge that the Plan and a prospectus relating to the Plan has been made available to me.  I understand that my
participation in the Plan is in all respects subject to the terms of the Plan.  

	Regardless of any action the Company and/or, if different, my employer (the "Employer") take with respect to any
or all income tax (including U.S., federal, state and local tax and/or non-U.S. tax), social insurance, payroll tax, payment on account or other tax-related
items related to my participation in the Plan and legally applicable to me ("Tax-Related Items"), I acknowledge that the ultimate liability for all
Tax-Related Items

is and remains my responsibility and may exceed the amount actually withheld by the Company or the Employer.  I further
acknowledge that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related
Items in connection with any aspect of my participation in the Plan, including, but not limited to, the grant or exercise of the right to purchase Shares, the
purchase of Shares under the Plan, the subsequent sale of Shares acquired under the Plan and the receipt of any dividends; and (2) do not
commit to and are under no obligation to structure the terms of the grant or any aspect of the right to purchase Shares to reduce or eliminate my liability
for Tax-Related Items or achieve any particular tax result.  Further, if I have become subject to tax in more than one jurisdiction between the Offer Date
and the date of any relevant taxable event, I acknowledge that the Company and/or the Employer (or former employer, as applicable) may be required to
withhold or account for Tax-Related Items in more than one jurisdiction.

Prior to any relevant taxable or tax withholding event, as applicable, I will pay or make adequate arrangements satisfactory to the
Company and/or the Employer to satisfy all Tax-Related Items.  In this regard, I authorize the Company and/or the Employer, or their respective agents,
at their discretion, to satisfy the obligations with regard to all Tax-Related Items by one or a combination of the following:

	withholding from my wages or other cash compensation paid to me by the Company and/or the Employer; or

	withholding from proceeds of the sale of Shares acquired upon exercise of the right to purchase Shares either through a
voluntary sale or through a mandatory sale arranged by the Company (on my behalf pursuant to this authorization); or 

	withholding in Shares to be issued upon exercise of the right to purchase Shares.  

To avoid negative accounting treatment, the Company may withhold or account for Tax-Related Items by considering applicable
minimum statutory withholding amounts or other applicable withholding rates.  If the obligation for Tax-Related Items is satisfied by withholding in
Shares, for tax purposes, I am deemed to have been issued the full number of Shares purchased upon exercise of the right to purchase Shares,
notwithstanding that a number of the Shares are held back solely for the purpose of paying the Tax-Related Items due as a result of any aspect of my
participation in the Plan.

Finally, I shall pay to the Company or the Employer any amount of Tax-Related Items that the Company and/or the Employer
may be required to withhold as a result of my participation in the Plan or the purchase of Shares that cannot be satisfied by the means previously
described.  The Company may refuse to purchase Shares on my behalf under the Plan and refuse to issue or deliver the Shares if I fail to comply with
my obligations in connection with the Tax-Related Items as described in this Section 7.

	I understand that if I am a U.S. taxpayer and I dispose of any Shares acquired under the Plan before the later to occur of: (1)
two years after the first day of the Offer Period during which I purchased such Shares, and (2) one year after the Purchase Date, I will be treated for U.S.
federal income tax purposes as having received ordinary income at the time of such disposition in an amount equal to the excess of the Fair Market Value of the

Shares at the time such Shares were purchased over the Purchase Price paid for the Shares, regardless of whether I sold such Shares for
a gain or a loss.  In such circumstances, I hereby agree to notify the Company in writing  prior to the end of the calendar year in which any Shares
were disposed of  and to make adequate provisions for Tax-Related Items which arise upon the disposition of the Shares.  

	By completing the online enrollment process and participating in the Plan, I acknowledge that: 

	the Plan is established voluntarily by the Company, it is discretionary in nature and it may be modified, amended, suspended
or terminated by the Company at any time, unless otherwise provided in the Plan; 

	the grant of rights to purchase Shares under the Plan is voluntary and occasional and does not create any contractual or
other right to receive future grants of rights to purchase Shares, or benefits in lieu of rights to purchase Shares even if I am automatically receiving new
rights to purchase Shares at the end of each Offer Period absent a withdrawal; 

	all decisions with respect to future rights to purchase Shares under the Plan, if any, will be at the sole discretion of the
Company; 

	I am voluntarily participating in the Plan; 

	the right to purchase Shares and any Shares purchased under the Plan are extraordinary items that do not constitute
compensation of any kind for services of any kind rendered to the Company or the Employer, and which are outside the scope of my employment
contract, if any; 

	this Enrollment Form and my participation in the Plan do not constitute an express or implied promise of continued
employment with the Employer and will not interfere with my right or the right of the Company or the Employer to terminate my employment relationship
at any time; 

	the right to purchase Shares and any Shares purchased under the Plan are not intended to replace any pension rights or
compensation;

	the right to purchase Shares and any Shares purchased under the Plan are not part of normal or expected compensation or
salary for any purposes, including, but not limited to, calculating any termination, severance, resignation, redundancy, dismissal, end of service
payments, bonuses, long-service awards, pension, retirement or welfare benefits or similar payments and in no event should be considered as
compensation for, or relating in any way to, past services for the Company, the Employer or any Affiliate or Subsidiary of the Company; 

	the grant of rights to purchase Shares and my participation in the Plan will not be interpreted to form an employment
contract or relationship with the Company, the Employer or any Affiliate or Subsidiary of the Company; 

	the future value of the Shares underlying the rights to purchase Shares is unknown and cannot be predicted with certainty;

	in consideration of the grant of rights to purchase Shares, no claim or entitlement to compensation or damages shall arise
from forfeiture of the rights to purchase Shares resulting from termination of employment by the Company or the Employer (for any reason whatsoever
and whether or not in breach of local labor laws) and I irrevocably release the Company and/or my Employer from any such claim that may arise; if,
notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, I shall be deemed irrevocably to have waived
my entitlement to pursue such claim; 

	in the event of termination of my employment (whether or not in breach of local labor laws), my right to purchase Shares
under the Plan, if any, will terminate effective as of the date that I am no longer actively employed and will not be extended by any notice period
mandated under local law; the Committee shall have the exclusive discretion to determine when I am no longer actively employed for purposes of my
participation in the Plan; and

	the right to purchase Shares and the benefits under the Plan, if any, will not automatically transfer to another company in the
case of a merger, take-over or transfer of liability. 

	The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations
regarding my participation in the Plan, or my acquisition or sale of the underlying Shares.  I am hereby advised to consult with my own personal tax,
legal and financial advisors regarding my participation in the Plan before taking any action related to the Plan.

	I hereby explicitly and unambiguously consent to the collection, use and transfer, in electronic or other form, of my
personal data as described in this Enrollment Form and any other Plan materials by and among, as applicable, the Employer, the Company and its
Affiliates and Subsidiaries for the exclusive purpose of implementing, administering and managing my participation in the Plan.

I understand that the Company and the Employer may hold certain personal information about me, including, but not limited to,
my name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any
shares of stock or directorships held in the Company, details of all rights to purchase Shares or any other entitlement to shares of stock awarded,
canceled, exercised, vested, unvested or outstanding in my favor, for the exclusive purpose of implementing, administering and managing the Plan
("Data").  

I understand that Data will be transferred to any third parties assisting in the implementation, administration and management of
the Plan.  I understand that the recipients of the Data may be located in the United States or elsewhere, and that the recipients' country (e.g., the United
States) may have different data privacy laws and protections than my country.  I understand that I may request a list with the names and addresses of
any potential recipients of the Data by contacting my local human 

resources representative.  I authorize the Company and any recipients which may
assist the Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer the
Data, in electronic or other form, for the sole purpose of implementing, administering and managing my participation in the Plan.  I understand that Data
will be held only as long as is necessary to implement, administer and manage my participation in the Plan, including any requisite transfer of such Data
as may be required to a broker or other third party with whom I may elect to deposit any Shares acquired upon purchasing Shares under the Plan.  I
understand that Data will be held only as long as is necessary to implement, administer and manage my participation in the Plan.  

I understand that I may, at any time, view Data, request additional information about the storage and processing of Data, require
any necessary amendments to Data or refuse or withdraw the consents herein, in any case without cost, by contacting in writing my local human
resources representative.  I understand, however, that refusing or withdrawing my consent may affect my ability to exercise or realize benefits from the
right to purchase Shares or otherwise participate in the Plan.  For more information on the consequences of my refusal to consent or withdrawal of
consent, I understand that I may contact my local human resources representative.
 

	Except as may be approved by the Committee, the right to purchase Shares under the Plan is not transferable,
except by will or by the laws of descent and distribution, and is exercisable during my lifetime only by me.

	I acknowledge that the Company may, in its sole discretion, decide to deliver any documents related to current or future
participation in the Plan by electronic means.  I hereby consent to receive such documents by electronic delivery and agree to participate in the Plan
through an on-line or electronic system established and maintained by the Company or a third party designated by the Company.

	This grant of rights to purchase Shares and the provisions of this Enrollment Form shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to its conflict of law rules, as provided in the Plan.  For purposes of litigating any
dispute that arises directly or indirectly from the relationship of the parties evidenced by this grant of the right to purchase Shares or this Enrollment
Form, the parties hereby submit to and consent to the exclusive jurisdiction of the State of California and agree that such litigation shall be conducted
only in the courts of Santa Clara County, California, or the federal courts for the United States for the Northern District of California, and no other courts,
where this grant is made and/or to be performed.

	The provisions of this Enrollment Form are severable and if any one or more provisions are determined to be illegal or
otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable.

	The Company reserves the right to impose other requirements on my participation in the Plan, on the right to purchase
Shares and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable in order to comply with local law
or facilitate the administration of the Plan, and to require me to sign any additional agreements or undertakings that may be necessary to accomplish the
foregoing.

By electronically agreeing to this Enrollment Form through the Smith Barney website, you agree to all of the terms and
conditions described in this Enrollment Form and in the Plan.

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