Document:

2000 Employee Stock Purchase Plan

 EXHIBIT 10.8 
  
 ON SEMICONDUCTOR CORPORATION 
  

2000 EMPLOYEE STOCK PURCHASE PLAN 
 (As Amended and Restated May 19, 2004) 
  
 1.
PURPOSE. The purpose of this ON Semiconductor Corporation 2000 Employee Stock Purchase Plan (the “Plan”) is to encourage stock ownership by eligible employees of ON Semiconductor Corporation (formerly known as SCG Holding
Corporation) (the “Company”) and its Subsidiaries and thereby provide employees with an incentive to contribute to the profitability and success of the Company. The Plan is intended to qualify as an “employee stock purchase plan”
under Section 423 of the Code and will be maintained for the exclusive benefit of eligible employees of the Company and its Subsidiaries. 
  
 2. DEFINITIONS. For purposes of the Plan, in addition to the terms defined in Section 1, the following terms are defined: 
  
 (a) “Board” means the Board of Directors of the
Company. 
  
 (b) “Cash Account” means
the account maintained on behalf of a Participant by the Company for the purpose of holding cash contributions withheld from payroll pending investment in Stock. 
  
 (c) “Code” means the Internal Revenue Code of 1986, as amended. 
  
 (d) “Custodian” means Solomon Smith Barney or any
successor or replacement appointed by the Board or its delagatee under Section 3(a). 
  
 (e) “Earnings” means a Participant’s salary or wages, including bonuses, for services performed for the Company and its
Subsidiaries and received by a Participant for services rendered during an Offering Period. 
  
 (f) “Fair Market Value” means the closing price of the Stock on the relevant date as reported on NASDAQ (or any national
securities exchange or quotation system on which the Stock is then listed), or if there were no sales on that date the closing price on the next preceding date for which a closing price was reported; provided, however, that for any Offering Period
beginning on the IPO Date, the Fair Market Value of the Stock on the first day of such Offering Period shall be deemed to be the price at which the Company’s Stock is offered under its initial public offering of Stock. 
  
 (g) “IPO Date” means the date on which the
Company’s initial public offering of Stock is consummated. 
  
 (h) “Offering Period” means the period beginning on the IPO Date and ending on the last day of the next calendar quarter, and every three-month period thereafter. For Participants who do not reside in the
United States, if the day on which the Company receives approval by the applicable foreign jurisdiction to offer common stock to Participants residing in that jurisdiction is later than the day on which the Company’s initial public offering
becomes 

  

 
effective, the Offering Period means the period beginning on the day on which the Company receives approval by the applicable foreign jurisdiction to offer
common stock to such Participants and ending on the last day of the next calendar quarter, and every three-month period thereafter. 
  
 (i) “Participant” means an employee of the Company or a Subsidiary who is participating in the Plan. 
  
 (j) “Purchase Right” means a Participant’s
option to purchase Stock that is deemed to be outstanding during an Offering Period. A Purchase Right represents an “option” under Section 423 of the Code. 
  
 (k) “Stock” means the common stock of the Company. 
  
 (l) “Stock Account” means the account maintained
on behalf of the Participant by the Custodian for the purpose of holding Stock acquired under the Plan. 
  
 (m) “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations beginning with the Company
if each of the corporations (other than the last corporation in the unbroken chain) owns stock possessing 50% or more of the total combined voting power of all classes of stock in one of the other corporations in the chain as set forth in Code
Section 424(f). 
  
 3. ADMINISTRATION. 

 
 (a) Board Administration. The Plan will be
administered by the Board. The Board may delegate its administrative duties and authority (other than its authority to amend the Plan) to any Board committee or to any officers or employees or committee thereof as the Board may designate (in which
case references to the Board will be deemed to refer to the administrator to which such duties and authority have been delegated). The Board will have full authority to adopt, amend, suspend, waive, and rescind rules and regulations and appoint
agents as it deems necessary or advisable to administer the Plan, to correct any defect or supply any omission or reconcile any inconsistency in the Plan and to construe and interpret the Plan and rules and regulations thereunder, to furnish to the
Custodian such information as the Custodian may require, and to make all other decisions and determinations under the Plan (including determinations relating to eligibility). No person acting in connection with the administration of the Plan will,
in that capacity, participate in deciding any matter relating to his or her participation in the Plan. 
  
 (b) The Custodian. The Custodian will act as custodian under the Plan, and will perform duties under the Plan and in any agreement
between the Company and the Custodian. The Custodian will establish and maintain Participants Stock Accounts and any subaccounts as may be necessary or desirable to administer the Plan. 
  
 (c) Waivers. The Board may waive or modify any requirement that a notice or election be made or filed
under the Plan a specified period in advance on an individual case or by adopting a rule or regulation under the Plan, without amending the Plan. 
  

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 (d) Other Administrative Provisions. The Company will furnish information from its
records as directed by the Board, and such records, including a Participant’s Earnings, will be conclusive on all persons unless determined by the Board to be incorrect. Each Participant and other person claiming benefits under the Plan must
furnish to the Company in writing an up-to-date mailing address and any other information as the Board or Custodian may reasonably request. Any communication, statement, or notice mailed with postage prepaid to any such Participant or other person
at the last mailing address filed with the Company will be deemed sufficiently given when mailed and will be binding upon the named recipient. The Plan will be administered on a reasonable and nondiscriminatory basis and uniform rules will apply to
all persons similarly situated. All Participants will have equal rights and privileges (subject to the terms of the Plan) with respect to Purchase Right outstanding during any given Offering Period in accordance with Code Section 423(b)(5).

  
 4. STOCK SUBJECT TO PLAN. Subject to
adjustment as provided below, the total number of shares of Stock reserved and available for issuance or which may be otherwise acquired upon exercise of Purchase Rights under the Plan will be 8,500,000. If, at the end of any Offering Period, the
number of shares of Stock with respect to which Purchase Rights are to be exercised exceeds the number of shares of Stock then available under the Plan, the Board shall make a pro rata allocation of the shares of Stock remaining available for
purchase in as uniform a manner as shall be practicable and as it shall determine to be equitable. Any shares of Stock delivered by the Company under the Plan may consist, in whole or in part, of authorized and unissued shares or treasury shares or
shares of Stock purchased on the open market. The number and kind of such shares of Stock subject to the Plan will be proportionately adjusted, as determined by the Board, in the event of any extraordinary dividend or other distribution,
recapitalization, forward or reverse split, reorganization, merger, consolidation, spin-off, combination, repurchase, or share exchange, or other similar corporate transaction or event affecting the Stock. 
  
 5. ENROLLMENT AND CONTRIBUTIONS. 
  
 (a) Eligibility. An employee of the Company or any
Subsidiary designated by the Board may be enrolled in the Plan for any Offering Period if such employee is employed by the Company or a Subsidiary authorized to participate in the Plan on the first day of the Offering Period, unless one of the
following applies to the employee: 
  
 (i) such
person has been employed by the Company or a Subsidiary less than 90 days; or 
  
 (ii) such person is customarily employed by the Company or a Subsidiary for 20 hours or less a week; or 
  
 (iii) such person is customarily employed by the Company or a Subsidiary for not more than five months in any calendar year; 

 
 (iv) such person would, immediately upon enrollment, be
deemed to own, for purposes of Section 423(b)(3) of the Code, an aggregate of five percent or more of the total combined voting power or value of all outstanding shares of all classes of the Stock of the Company or any Subsidiary. 
  

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 Notwithstanding the above, solely for purposes of the first Offering Period under the
Plan, an employee who is employed by the Company or a Subsidiary on the first day of such Offering Period and who is otherwise eligible to participate in the Plan shall not be required to satisfy the 90 day employment period specified in 5(a)(i)
above. 
  
 The Company will notify an employee of
the date as of which he or she is eligible to enroll in the Plan, and will make available to each eligible employee the necessary enrollment forms. Notwithstanding the above, any individual who is employed by the Company or a Subsidiary designated
by the Board and who is working outside of the United States shall not be eligible to participate in the Plan if the laws of the country in which the employee is working makes the offer of the Purchase Right or the delivery of Stock under the Plan
impractical. Additionally, the offer of the Purchase Right and the delivery of Stock under the Plan shall be effective for any individual who is employed by the Company or a Subsidiary and who is working outside of the United States only after the
Company has complied with the applicable laws of the country in which the employee is working. 
  
 (b) Initial Enrollment. An employee who is eligible under Section 5(a) (or who will become eligible on or before a given Offering
Period) may, after receiving current information about the Plan, initially enroll in the Plan by executing and filing with the Company a properly completed enrollment form, including the employee’s election as to the rate of payroll
contributions for the Offering Period. To be effective for any Offering Period, such enrollment form must be filed at least two weeks (or such other period determined by the Board) preceding such Offering Period. 
  
 (c) Automatic Re-enrollment for Subsequent Offering
Periods. A Participant whose enrollment in, and payroll contributions under, the Plan continues throughout a Offering Period will automatically be re-enrolled in the Plan for the next Offering Period unless (i) the Participant terminates
enrollment before the next Offering Period in accordance with Section 7(a), or (ii) the Participant is ineligible to participate under Section 5(a). The initial rate of payroll contributions for a Participant who is automatically re-enrolled for a
Offering Period will be the same as the rate of payroll contribution in effect at the end of the preceding Offering Period, unless the Participant files a new enrollment form designating a different rate of payroll contributions and such new
enrollment form is received no later than two weeks (or such other period determined by the Board) prior to the beginning of the next Offering Period. 
  
 (d) Payroll Contributions. A Participant will make contributions under the Plan by means of payroll deductions from each payroll
period which ends during the Offering Period, at the rate elected by the Participant in his or her enrollment form in effect for that Offering Period (except that such rate may be changed during the Offering Period to the extent permitted below).
The rate of payroll contributions elected by a Participant may not be less than one percent (1%) nor more than ten percent (10%) of the Participant’s Earnings for each payroll period, and only whole percentages may be elected; provided,
however, that the Board may specify a lower minimum rate and higher maximum rate, subject to Section 8(c). Notwithstanding the above, a Participant’s payroll contributions will be adjusted downward by the Company as necessary to ensure that
the limit on the amount of Stock purchased for an Offering Period set forth in Section 6(a)(iii) is not exceeded. A Participant may elect to increase, decrease, or discontinue payroll contributions for a future Offering Period by filing a new
enrollment form designating a different rate of payroll contributions, which form must be 

  

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received at least two weeks (or such other period determined by the Board) prior to the beginning of an Offering Period to be effective for that Offering
Period. In addition, a Participant may elect to discontinue payroll contributions during an Offering Period by filing a new enrollment form, such change to be effective for the next payroll after the Participant’s new enrollment form is
received. 
  
 (e) Crediting Payroll
Contributions to Cash Accounts. All payroll contributions by a Participant under the Plan will be credited to a Cash Account maintained by the Company on behalf of the Participant. The Company will credit payroll contributions to each
Participant’s Cash Account as soon as practicable after the contributions are withheld from the Participant’s Earnings. 
  
 (f) No Interest on Cash Accounts. No interest will be credited or paid on cash balances in Participant’s Cash Accounts pending
investment in Stock. 
  
 6. PURCHASES OF
STOCK. 
  
 (a) Purchase
Rights. Enrollment in the Plan for any Offering Period by a Participant will constitute a grant by the Company of a Purchase Right to such Participant for such Offering Period. Each Purchase Right will be subject to the following terms:

  
 (i) The purchase price of each share of Stock
purchased for each Offering Period will equal 85% of the lesser of the Fair Market Value of a share of Stock on the first day of an Offering Period, or the Fair Market Value of a share of Stock on the last day of an Offering Period. 
  
 (ii) Except as limited in (iii) below, the number of shares
of Stock that may be purchased upon exercise of the Purchase Right for a Offering Period will equal the number of shares (including fractional shares) that can be purchased at the purchase price specified in Section 6(a)(i) with the aggregate amount
credited to the Participant’s Cash Account as of the last day of an Offering Period. 
  
 (iii) The number of shares of Stock subject to a Participant’s Purchase Right for any Offering Period will not exceed the lesser of:
(1) 500 shares of Stock, or (2) the number derived by dividing $6,250 by 100% of the Fair Market Value of one share of Stock on the first day of the Offering Period for the Offering Period. 
  
 (iv) The Purchase Right will be automatically exercised on
the last day of the Offering Period. 
  
 (v)
Payments by a Participant for Stock purchased under a Purchase Right will be made only through payroll deduction in accordance with Section 5(d) and (e). 
  
 (vi) The Purchase Right will expire on the earlier of the last day of the Offering Period or the date on which the Participant’s
enrollment in the Plan terminates. 
  
 (b)
Purchase of Stock. At or as promptly as practicable after the last day of an Offering Period, amounts credited to each Participant’s Cash Account will be applied by the 

  

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Company to purchase Stock, in accordance with the terms of the Plan. Shares of Stock will be purchased from the Company or in the open market, as the Board
determines. The Company will aggregate the amounts in all Cash Accounts when purchasing Stock, and shares purchased will be allocated to each Participant’s Stock Account in proportion to the cash amounts withdrawn from such Participant’s
Cash Account. After completing purchases for each Offering Period (which will be completed in not more than 15 calendar days after the last day of an Offering Period), all shares of Stock so purchased for a Participant will be credited to the
Participant’s Stock Account. 
  
 (c)
Dividend Reinvestment; Other Distributions. Cash dividends on any Stock credited to a Participant’s Stock Account will be automatically reinvested in additional shares of Stock; such amounts will not be available in the form of cash to
Participants. The Company will aggregate all purchases of Stock in connection with dividend reinvestment for a given dividend payment date. Purchases of Stock for purposes of dividend reinvestment will be made as promptly as practicable (but not
more than 15 calendar days) after a dividend payment date. The purchases will be made directly from the Company at 100% of the Fair Market Value of a share of Stock on the dividend payment date or on the open market. Any shares of Stock distributed
as a dividend or distribution in respect of shares of Stock or in connection with a split of the Stock credited to a Participant’s Stock Account will be credited to such Account. 
  
 (d) Withdrawals and Transfers. Shares of Stock may be withdrawn from a Participant’s Stock
Account, in which case one or more certificates for whole shares may be issued in the name of, and delivered to, the Participant, with such Participant receiving cash in lieu of fractional shares based on the Fair Market Value of a share of Stock on
the day preceding the date of withdrawal. Alternatively, whole shares of Stock may be withdrawn from a Participant’s Stock Account by means of a transfer to a broker-dealer or financial institution that maintains an account for the Participant,
together with the transfer of cash in lieu of fractional shares based on the Fair Market Value of a share of Stock on the day preceding the date of withdrawal. Participants may not designate any other person to receive shares of Stock withdrawn or
transferred under the Plan. A Participant seeking to withdraw or transfer shares of Stock must give instructions to the Custodian in such manner and form as may be prescribed by the Custodian, which instructions will be acted upon as promptly as
practicable. Withdrawals and transfers will be subject to any fees imposed in accordance with Section 8(a). 
  
 (e) Excess Account Balances. If any amounts remain in a Cash Account following the date on which the Company purchases Stock for an
Offering Period as a result of the limitation set forth in Section 6(a)(iii) or for any other reason, such amounts will be returned to the Participant as promptly as practicable. 
  
 7. TERMINATION AND DISTRIBUTIONS. 
  
 (a) Termination of Enrollment. A Participant’s enrollment in the Plan will terminate upon (i)
the beginning of any payroll period or Offering Period that begins after he or she files a written notice of termination of enrollment with the Company, provided that such Participant will continue to be deemed to be enrolled with respect to any
completed Offering Period for which purchases have not been completed, (ii) such time as the Participant becomes ineligible to participate under Section 5(a) of the Plan, or (iii) the termination of the Participant’s employment by the Company
and its Subsidiaries. An employee whose enrollment in the Plan 

  

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terminates may again enroll in the Plan as of any subsequent Offering Period that is at least 90 days after such termination of enrollment if he or she
satisfies the eligibility requirements of Section 5(a) as of such Offering Period. A Participant’s election to discontinue payroll contributions will not constitute a termination of enrollment. 
  
 (b) Distribution. As soon as practicable after a
Participant’s enrollment in the Plan terminates, amounts in the Participant’s Cash Account which resulted from payroll contributions will be repaid to the Participant. The Custodian will continue to maintain the Participant’s Stock
Account for the Participant until the earlier of such time as the Participant directs the sale of all Stock in the Account, withdraws, or transfers all Stock in the Account, or one year after the Participant ceases to be employed by the Company and
its Subsidiaries. If a Participant’s termination of enrollment results from his or her death, all amounts payable will be paid to his or her estate. 
  
 8. GENERAL. 
  
 (a) Costs. Costs and expenses incurred in the administration of the Plan and maintenance of Accounts will be paid by the Company,
to the extent provided in this Section 8(a). Any brokerage fees and commissions for the purchase of Stock under the Plan (including Stock purchased upon reinvestment of dividends and distributions) will be paid by the Company, but any brokerage fees
and commissions for the sale of Stock under the Plan by a Participant will be borne by such Participant. The rate at which such fees and commissions will be charged to Participants will be determined by the Custodian or any broker-dealer used by the
Custodian (including an affiliate of the Custodian), and communicated from time to time to Participants. In addition, the Custodian may impose or pass through a reasonable fee for the withdrawal of Stock in the form of stock certificates (as
permitted under Section 6(d)), and reasonable fees for other services unrelated to the purchase of Stock under the Plan, to the extent approved in writing by the Company and communicated to Participants. 
  
 (b) Statements to Participants. The
Participant’s statement will reflect payroll contributions, purchases, sales, and withdrawals and transfers of shares of Stock and other Plan transactions by appropriate adjustments to the Participant’s Accounts. The Custodian will, not
less frequently than quarterly, provide or cause to be provided a written statement to the Participant showing the transactions in his or her Stock Account and the date thereof, the number of shares of Stock credited or sold, the aggregate purchase
price paid or sales price received, the purchase or sales price per share, the brokerage fees and commissions paid (if any), the total shares held for the Participant’s Stock Account (computed to at least three decimal places), and such other
information as agreed to by the Custodian and the Company. 
  
 (c) Compliance with Section 423. It is the intent of the Company that this Plan complies in all respects with applicable requirements of Section 423 of the Code and regulations thereunder. Accordingly, if any
provision of this Plan does not comply with such requirements, such provision will be construed or deemed amended to the extent necessary to conform to such requirements. 
  

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 9. GENERAL PROVISIONS. 
  
 (a) Compliance With Legal and Other Requirements. The Plan, the granting and exercising of Purchase
Rights hereunder, and the other obligations of the Company and the Custodian under the Plan will be subject to all applicable federal and state laws, rules, and regulations, and to such approvals by any regulatory or governmental agency as may be
required. The Company may, in its discretion, postpone the issuance or delivery of Stock upon exercise of Purchase Rights until completion of such registration or qualification of such Stock or other required action under any federal or state law,
rule, or regulation, or the laws of any country in which employees of the Company and a Subsidiary who are nonresident aliens and who are eligible to participate reside, or other required action with respect to any automated quotation system or
stock exchange upon which the Stock or other Company securities are designated or listed, or compliance with any other contractual obligation of the Company, as the Company may consider appropriate. In addition, the Company may require any
Participant to make such representations and furnish such information as it may consider appropriate in connection with the issuance or delivery of Stock in compliance with applicable laws, rules, and regulations, designation or listing
requirements, or other contractual obligations. 
  
 (b) Limits on Encumbering Rights. No right or interest of a Participant under the Plan, including any Purchase Right, may be pledged, encumbered, or hypothecated to or in favor of any party, subject to any lien, obligation, or
liability of such Participant, or otherwise assigned, transferred, or disposed of except pursuant to the laws of descent or distribution, and any right of a Participant under the Plan will be exercisable during the Participant’s lifetime only
by the Participant. 
  
 (c) No Right to
Continued Employment. Neither the Plan nor any action taken hereunder, including the grant of a Purchase Right, will be construed as giving any employee the right to be retained in the employ of the Company or any of its Subsidiaries, nor will
it interfere in any way with the right of the Company or any of its Subsidiaries to terminate any employee’s employment at any time. 
  
 (d) Taxes. The Company or any Subsidiary is authorized to withhold from any payment to be made to a Participant, including any
payroll and other payments not related to the Plan, amounts of withholding and other taxes due in connection with any transaction under the Plan, and a Participant’s enrollment in the Plan will be deemed to constitute his or her consent to such
withholding. In addition, Participants may be required to advise the Company of sales and other dispositions of Stock acquired under the plan in order to permit the Company to comply with tax laws and to claim any tax deductions to which the Company
may be entitled with respect to the Plan. This provision and other Plan provisions do not set forth an explanation of the tax consequences to Participants under the Plan. A brief summary of the tax consequences will be included in disclosure
documents to be separately furnished to Participants. 
  
 (e) Changes to the Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan without the consent of shareholders or Participants, except that any such action will be subject to the approval of the Company’s
shareholders within one year after such Board action if such shareholder approval is required by any federal or state law or regulation or the rules of any automated quotation system or stock exchange on which the Stock may then be quoted or listed,
or if such shareholder approval is necessary in order for the Plan to continue to meet the requirements of Section 423 of the Code, and the Board may otherwise, in its discretion, determine to submit other such actions to shareholders for approval.
However, 

  

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without the consent of an affected Participant, no amendment, alteration, suspension, discontinuation, or termination of the Plan may materially and
adversely affect the rights of such Participant with respect to outstanding Purchase Rights relating to any Offering Period that has been completed prior to such Board action. The foregoing notwithstanding, upon termination of the Plan the Board may
(i) elect to terminate all outstanding Purchase Rights at such time as the Board may designate, and all amounts contributed to the Plan which remain in a Participant’s Cash Account will be returned to the Participant (without interest) as
promptly as practicable, or (ii) shorten the Offering Period to such period determined by the Board and use amounts credited to a Participant Cash Account to purchase Stock. 
  
 (f) No Rights to Participate; No Shareholder Rights. No Participant or employee will have any claim
to participate in the Plan with respect to Offering Periods that have not commenced, and the Company will have no obligation to continue the Plan. No Purchase Right will confer on any Participant any of the rights of a shareholder of the Company
unless and until Stock is duly issued or transferred and delivered to the Participant (or credited to the Participant’s Stock Account). 
  
 (g) Fractional Shares. Unless otherwise determined by the Board, purchases of Stock under the Plan executed by the Custodian may
result in the crediting of fractional shares of Stock to the Participant’s Stock Account. Such fractional shares will be computed to at least three decimal places. Fractional shares will not, however, be issued by the Company, and certificates
representing fractional shares will not be delivered to Participants under any circumstances. 
  
 (h) Plan Year. The Plan will operate on a plan year that begins on January 1 and ends December 31 in each year. 
  
 (i) Governing Law. The validity, construction, and
effect of the Plan and any rules and regulations relating to the Plan will be determined in accordance with the laws of the State of Arizona, without giving effect to principles of conflicts of laws, and applicable federal law. 
  
 (j) Effective Date. The Plan will become effective on
the IPO Date, subject to the Plan being approved by shareholders of the Company, at a meeting by a vote sufficient to meet the requirements of Section 423(b)(2) of the Code. If the Plan is not approved in accordance with Section 423(b)(2) of the
Code, each Participant’s Purchase Right shall be void and amounts credited to the Participant’s Cash Account shall be promptly returned to the Participant. 
  

 9Form of Stock Option Grant to 1999 Founders Stock Option Plan

 EXHIBIT 10.9 
  
 [FORM OF STOCK OPTION GRANT AGREEMENT TO 
 1999 FOUNDERS STOCK OPTION PLAN] 
  
 STOCK OPTION GRANT AGREEMENT 
 (Non-Qualified Stock Options) 
  
 THIS AGREEMENT, made as of this
         th/rd day of
                                        
                          between ON Semiconductor Corporation (formerly known as SCG Holding Corporation) (the
“Company”) and
                                        
             (the “Participant”). 
  
 WHEREAS, the Company has adopted and maintains the ON Semiconductor 1999 Founders Stock Option Plan (the “Plan”) to promote the interests
of the Company and its Affiliates and stockholders by providing the Company’s key employees and others with an appropriate incentive to encourage them to continue in the employ of the Company or its affiliates and to improve the growth and
profitability of the Company; 
  
 WHEREAS, the Plan provides for
the Grant to Participants in the Plan of Non-Qualified Stock Options to purchase shares of Common Stock of the Company. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto hereby agree as follows: 

 
 1. Grant of Options. Pursuant to, and subject to, the terms and
conditions set forth herein and in the Plan, the Company hereby grants to the Participant a NON-QUALIFIED STOCK OPTION (the “Option”) with respect to             
shares of Common Stock of the Company. 
  
 2. Grant Date.
The Grant Date of the Option hereby granted is                     ,
            . 
  
 3. Incorporation of Plan. All terms, conditions and restrictions of the Plan are incorporated herein and made part hereof as if stated herein. If there is any conflict between the terms and conditions of the
Plan and this Agreement, the terms and conditions of this Agreement, as interpreted by the Board, shall govern. All capitalized terms used and not defined herein shall have the meaning given to such terms in the Plan. 
  
 4. Exercise Price. The exercise price of each share underlying the
Option hereby granted is $                     . 
  
 5. Vesting Date. The Option shall become exercisable as follows: [INSERT VESTING SCHEDULE HERE]; provided that, the number of shares
to become exercisable on any Vesting Date shall be rounded up to the nearest share, but in no event shall more than              percent of the shares underlying the Option become
exercisable in any              period, nor shall more than the total number of shares 

  

 
underlying the Option become exercisable. Notwithstanding the foregoing, in the event of a Change in Control (as defined in the Plan), any portion of the
Option which has not expired pursuant to Section 6 below, shall become immediately vested and exercisable on the date of such Change in Control. 
  
 6. Expiration Date. Subject to the provisions of the Plan, with respect to the Option or any portion thereof which has not become exercisable, the
Option shall expire on the date the Participant’s Employment is terminated for any reason, and with respect to any Option or any portion thereof which has become exercisable, the Option shall expire on the earlier of: (i) 90 days after the
Participant’s termination of Employment other than for Cause, death or Disability; (ii) one year after termination of the Participant’s Employment by reason of death or Disability; (iii) the commencement of business on the date the
Participant’s Employment is, or is deemed to have been, terminated for Cause; or (iv) the tenth anniversary of the Grant Date. 
  
 7. Company Call Rights. Upon a termination of the Participant’s Employment for any reason prior to the existence of a Public Market, the
Company shall have the right, in its sole discretion, during the ninety-day period immediately following the date of termination (the “Option Call Period”), to purchase for cash any portion of the Option that has become exercisable
on or before the date of such termination of Employment for a purchase price equal to the Option Spread, if any, determined as of the Valuation Date immediately preceding the date that the Company exercises its right to purchase such Option
multiplied by the number of shares of Common Stock underlying such portion of the Option. Upon written notice that the Company is exercising its right to purchase such portion of the Option, such Option shall no longer be exercisable by the
Participant (unless otherwise agreed by the Company) and, upon payment by the Company, such Option shall immediately become void and cancelled, without any further action by the Participant or the Company or otherwise. Such payment shall be made
within ten days after the date that the Company notifies the Participant in writing that it is exercising its right to purchase the Option hereunder, provided that the Company may delay any such payment in the event such payment will result in the
violation of the terms or provisions of, or result in a default or event of default under, any guarantee, financing or security agreement or document entered into by the Company or any of its Affiliates and in effect on such date (hereinafter a
“Financing Agreement”). In the event the payment of the purchase price is delayed as a result of a restriction imposed by a Financing Agreement as provided above, such payment shall be made without the application of further
conditions or impediments as soon as practicable after the payment of such purchase price would no longer result in the violation of the terms or provisions of, or result in a default or event of default under, any Financing Agreement, and such
payment shall equal the amount that would have been paid to the Participant if no delay had occurred plus interest for the period from the date on which the purchase price would have been paid but for the delay in payment provided herein to the date
on which such payment is made (the “Delay Period”), calculated at an annual rate equal to the average annual prime rate charged during the Delay Period by a nationally recognized bank designated by the Board. The Company may deduct
from any payment provided hereunder an amount equal to the applicable federal, state and local withholding taxes. 
  

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 8. Construction of Agreement. Any provision of this Agreement (or portion thereof) which is deemed
invalid, illegal or unenforceable in any jurisdiction shall, as to that jurisdiction and subject to this section, be ineffective to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining provisions
thereof in such jurisdiction or rendering that or any other provisions of this Agreement invalid, illegal, or unenforceable in any other jurisdiction. If any covenant should be deemed invalid, illegal or unenforceable because its scope is considered
excessive, such covenant shall be modified so that the scope of the covenant is reduced only to the minimum extent necessary to render the modified covenant valid, legal and enforceable. No waiver of any provision or violation of this Agreement by
the Company shall be implied by the Company’s forbearance or failure to take action. 
  
 9. Delays or Omissions. No delay or omission to exercise any right, power or remedy accruing to any party hereto upon any breach or default of any party under this Agreement, shall impair any such right, power
or remedy of such party nor shall it be construed to be a waiver of any such breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring nor shall any waiver of any single breach or default be deemed
a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any
party or any provisions or conditions of this Agreement, shall be in writing and shall be effective only to the extent specifically set forth in such writing. 
  

10. Limitation on Transfer. During the lifetime of the Participant, the Option shall be exercisable only by the Participant. The Option shall
not be assignable or transferable other than by will or by the laws of descent and distribution. All shares of Common Stock obtained pursuant to the Option granted herein shall not be transferred except as provided in the Plan and, where applicable,
the Management Stockholders’ Agreement. 
  
 11.
Integration. This Agreement, and the other documents referred to herein or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. There are no restrictions,
agreements, promises, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those expressly set forth herein and in the Plan. This Agreement, including without limitation the Plan, supersedes all
prior agreements and understandings between the parties with respect to its subject matter. 
  
 12. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same instrument. 
  
 13. Governing Law. This Agreement shall be governed by and construed
and enforced in accordance with the laws of the State of Delaware (United States of America) without regard to the provisions governing conflict of laws. 
  

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 14. Participant Acknowledgment. The Participant hereby acknowledges receipt of a copy of the Plan.
The Participant hereby acknowledges that all decisions, determinations and interpretations of the Board in respect of the Plan, this Agreement and the Option shall be final and conclusive. The Participant further acknowledges that, prior to the
existence of a Public Market, no exercise of the Option or any portion thereof shall be effective unless and until the Participant has executed the Management Stockholders’ Agreement and the Participant hereby agrees to be bound thereby.

  
 *        
*         *         *         * 
  
 IN WITNESS WHEREOF, the Company has caused this Agreement to be duly executed by its duly authorized officer and said Participant has hereunto signed this
Agreement on his own behalf, thereby representing that he has carefully read and understands this Agreement, the Plan and the Management Stockholders’ Agreement as of the day and year first written above. 
  

			
	ON Semiconductor Corporation (formerly known as SCG Holding Corporation)
		
	 	 	 
	 By:
	 	 
	 Title:
	 	 
		
	 	 	 
	 [Participant’s name]

  

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