Document:

Exhibit 10(f)

 

LEASE ADDENDUM

 

THIS LEASE ADDENDUM is made and entered into this 17th
day of January, 2006, by and between GULFCOAST PROPERTY NO. 1, LLC, a Florida limited liability company,
(hereinafter referred to as “Landlord”) and PEEK TRAFFIC CORPORATION, a Delaware corporation,
(hereinafter referred to as “Tenant”).

 

WHEREAS, Landlord and Tenant entered into a commercial Lease dated September
22, 2005, (the “Lease”) for certain premises located at 2511 Corporate Way,
Palmetto, Florida; and

 

WHEREAS, the parties wish to modify said Lease.

 

NOW,
THEREFORE, in consideration of Ten Dollars ($10.00) and other
good and valuable consideration, the receipt and sufficiency of which is
acknowledged, the parties agree as follows:

 

1.     As of the 16th day of January, 2006, Tenant shall lease the entire
second floor space, comprised of 11,520 square feet, thereby increasing the
total square footage of the Premises leased by the Tenant to 51,520 square
feet.  The Base Rent for the second floor
space shall be $12.62 per square foot, resulting in a blended Base Rent for the
entire Premises of $9.15.   This results in
a total Base Rent of $471,408.00 per annum. 
Base Rent for the second floor space for the month of January, 2006,
shall be prorated as of the date of this Addendum at the $12.62 per square foot
rate.  Payment by Tenant at the blended
Base Rent of $9.15 per square foot for the entire Premises shall commence with
the payment due February 1, 2006.  The
blended Base Rent of $9.15 per square foot shall be considered the Base Rent
for the entire year of 2006 for purposes of annual adjustments to the Base Rent
as provided for in the Lease.

 

2.     The Security Deposit, plus applicable sales tax, to be paid by Tenant
pursuant to Section 1.01(k) if the Lease shall be increased to a total amount
of $125,504.56.  The difference between
said amount and the original Security Deposit paid by Tenant shall be paid by
Tenant to Landlord not later than February 5, 2006.

 

3.     The third sentence in Section 1.01(o), and the last sentence in Section
7.01, concerning installation of signage for a second floor tenant, is hereby
deleted.

 

4.     To reflect the inclusion of the second floor space in the Premises
leased by the Tenant, the second sentence of Section 1.03(g), Premises,
is hereby deleted.

 

5.     Section 2.02, Use of Common Areas, of the Lease is revised to
read as follows:  

 

The
use and occupation by Tenant of the Premises shall include the non-exclusive
use, in common with others, of the Common Areas located in GulfCoast Corporate
Park as they may exist from time to time, subject to the terms and conditions
of the Covenants, Conditions, Easements, and Restrictions, as the same may be
amended from time to time, applicable thereto.

 

 

6.     Subsections (x) and (xi) of Section 3.05 of the Lease, Tenant to
Bear Premises’ Operating Costs, are hereby deleted.  Additionally, the phrase, “or of any second
floor tenant, its agents, representatives, employees and contractors,” in
Subsection (iii) of Section 3.05 of the Lease is hereby deleted.

 

7.     The second, fourth and fifth sentences of Section 8.02 of the Lease, Landlord’s
Responsibilities, are hereby deleted.

 

8.     Subsection (ii) of Section 9.04 of the Lease, Indemnification of
Landlord, is hereby deleted.

 

9.     The phrase “(and the 2nd floor space, in accordance with the
terms of Section 3.05)” in Section 10.01 of the Lease, Payment and Metering,
is hereby deleted.

 

10.   The last sentence in Section 17.01 of the Lease, Right of Entry,
is hereby deleted.

 

11.   Except as modified herein, the Lease is and shall remain in full force
and effect.

 

IN WITNESS WHEREOF, the parties have set their hands and seals
the date first above written.

 

 

	
  WITNESSES:

  	
  “LANDLORD”

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/Chad D. Weaver

  	
   

  	
  GULFCOAST PROPERTY NO.1, LLC

  
	
  Print Name:

  	
  Chad D. Weaver

  	
   

  	
   

  
	
   

  	
   

  
	
  /s/Michael Hobbs

  	
   

  	
  By:

  	
   

  	
  /s/Hugh D. Miller

  	
   

  
	
  Print Name:

  	
  Michael Hobbs

  	
   

  	
   

  	
  HUGH D. MILLER, Managing
Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  “TENANT”

  
	
   

  	
   

  
	
       /s/Michael Hobbs

  	
   

  	
  PEEK TRAFFIC CORPORATION

  
	
  Print Name:

  	
  Michael Hobbs

  	
   

  	
   

  
	
   

  	
   

  
	
       /s/Chad D. Weaver

  	
   

  	
  By:

  	
   

  	
  /s/Timothy M. O’Leary

  	
   

  
	
  Print Name:

  	
  Chad D. Weaver

  	
   

  	
   

  	
   

  	
  Timothy M. O’Leary

  	
  ,  as its

  
	
   

  	
   

  	
   

  	
  President

  	
   

  
																								

 

 

STATE OF
FLORIDA

COUNTY OF
MANATEE

 

The foregoing instrument was acknowledged before me this 17th
day of January, 2006, by HUGH D. MILLER,
as Managing Member of GULFCOAST PROPERTY NO. 1, LLC, a Florida limited liability company,
who is personally known to me: ý  or has
produced a

 

2

 

Driver’s License as identification:     .

 

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
    /s/Lori Leigh
  Mellman

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Notary Public

  

 

STATE OF FLORIDA

COUNTY OF MANATEE

 

The foregoing instrument was acknowledged before me this         
day of                                      ,
2006, by                                          ,
as                                     
of PEEK TRAFFIC CORORATION, a Delaware
corporation, who is personally known to me:        
or has produced a Driver’s License as identification:         .

 

	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
  Notary Public

  

 

CONSENT AND AGREEMENT OF GUARANTOR

 

WHEREAS, the undersigned has executed Guaranty Agreement dated the 22nd
day of September, 2005; and

 

WHEREAS, the Lease has been modified as per the Addendum to which this Consent
is affixed.

 

NOW, THEREFORE, in consideration of Ten Dollars ($10.00)
and other good and valuable consideration, the receipt and sufficiency of which
is acknowledged, the parties agree as follows:

 

1.             The undersigned hereby consents and agrees
that its Guaranty shall be and remain effective as per the Lease as amended
herein.

 

2.             The Guaranty Agreement of the undersigned is
in full force and effect, as modified herein, and there are no defenses to said
Guaranty as executed.

 

Signed, sealed and delivered

in the presence of:

 

	
   

  	
  QUIXOTE CORPORATION, a

  Delaware corporation

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/Zenaida Arroyo

  	
   

  	
  By:

  	
    /s/ Joan R. Riley

  	
   

  
	
  Print Name:

  	
  Zenaida Arroyo

  	
   

  	
   

  	
    Joan R. Riley

  	
   

  
	
   

  	
  As its

  	
     Vice President & General Counsel

  	
   

  
	
  /s/Erika Lopez

  	
   

  	
   

  
	
  Print Name:

  	
  Erika Lopez

  	
   

  	
   

  
											

 

3Exhibit 10.7

 

SILICON LABORATORIES INC.

EMPLOYEE STOCK PURCHASE PLAN

 

As
Amended and Restated Effective October 27, 2005

 

I.                                         PURPOSE OF THE PLAN

 

This Employee Stock
Purchase Plan is intended to promote the interests of Silicon Laboratories
Inc., a Delaware corporation, by providing eligible employees with the
opportunity to acquire a proprietary interest in the Corporation through
participation in a payroll-deduction based employee stock purchase plan
designed to qualify under Section 423 of the Code.

 

Capitalized terms herein
shall have the meanings assigned to such terms in the attached Appendix.

 

II.                                     ADMINISTRATION OF THE PLAN

 

The Plan Administrator
shall have full authority to interpret and construe any provision of the Plan
and to adopt such rules and regulations for administering the Plan as it
may deem necessary in order to comply with the requirements of Section 423
of the Code.  Decisions of the Plan
Administrator shall be final and binding on all parties having an interest in
the Plan.

 

III.                                 STOCK SUBJECT TO PLAN

 

A.                                   The stock purchasable under the Plan
shall be shares of authorized but unissued or reacquired Common Stock,
including shares of Common Stock purchased on the open market.  The maximum number of shares of Common Stock
which may be issued in the aggregate under the Plan shall not exceed Four
Hundred Thousand (400,000) shares.

 

B.                                     The number of shares of Common Stock
available for issuance under the Plan shall automatically increase on the first
trading day of each calendar year during the term of the Plan, beginning with
the 2001 calendar year, by an amount equal to one-half percent (0.5%) of the
shares of Common Stock outstanding on the last trading day of the immediately
preceding calendar year, but in no event shall such annual increase exceed Two
Hundred Fifty Thousand (250,000) shares.

 

C.                                     Should any change be made to the
Common Stock by reason of any stock split, stock dividend, recapitalization,
combination of shares, exchange of shares or other change affecting the
outstanding Common Stock as a class without the Corporation’s receipt of
consideration, appropriate adjustments shall be made to the maximum number and
class of securities issuable in the aggregate under the Plan, (ii) the
maximum number and class of securities purchasable per Participant and in the
aggregate on any one Purchase Date and (iii) the number and class of
securities and the price per share in effect under each outstanding purchase
right in order to prevent the dilution or enlargement of benefits thereunder.

 

 

IV.                                OFFERING PERIODS

 

A.                                   Shares of Common Stock shall be
offered for purchase under the Plan through a series of successive offering
periods until such time as (i) the maximum number of shares of Common
Stock available for issuance under the Plan shall have been purchased or (ii) the
Plan shall have been sooner terminated.

 

B.                                     Each offering period shall be of
such duration (not to exceed twenty-four (24) months) as determined by the Plan
Administrator prior to the start date of such offering period.  However, the initial offering period shall
commence at the Effective Time and terminate on the last business day in April 2002.  Subsequent offering periods shall commence as
designated by the Plan Administrator.

 

C.                                     Each offering period shall be
comprised of a series of one or more successive Purchase Intervals having such
durations as may be established by the Plan Administrator.  Unless otherwise provided by the Plan
Administrator, Purchase Intervals shall run from the first business day in May each
year to the last business day in October of the same year and from the
first business day in November each year to the last business day in April of
the following year.  However, the first
Purchase Interval in effect under the initial offering period shall commence at
the Effective Time and terminate on the last business day in October 2000.

 

D.                                    Should the Fair Market Value per
share of Common Stock on any Purchase Date within an offering period be less
than the Fair Market Value per share of Common Stock on the start date of that
offering period, then that offering period shall automatically terminate
immediately after the purchase of shares of Common Stock on such Purchase Date,
and a new offering period shall commence on the next business day following
such Purchase Date.  The new offering
period shall have a duration of twenty (24) months, unless a shorter duration
is established by the Plan Administrator within five (5) business days
following the start date of that offering period.

 

V.                                    ELIGIBILITY

 

A.                                   Each individual who is an Eligible
Employee on the start date of an offering period under the Plan may enter that
offering period on such start date or on any subsequent Semi-Annual Entry Date
within that offering period, provided he or she remains an Eligible Employee.

 

B.                                     Each individual who first becomes an
Eligible Employee after the start date of an offering period may enter that
offering period on any subsequent Semi-Annual Entry Date within that offering
period on which he or she is an Eligible Employee.

 

C.                                     The date an individual enters an
offering period shall be designated his or her Entry Date for purposes of that
offering period.

 

D.                                    To participate in the Plan for a
particular offering period, the Eligible Employee must complete the enrollment
forms prescribed by the Plan Administrator (including a stock purchase
agreement and a payroll deduction authorization) and file such forms with the
Plan Administrator (or its designate) on or before his or her scheduled Entry
Date.

 

2

 

VI.                                PAYROLL DEDUCTIONS

 

A.                                   The payroll deduction authorized by
the Participant for purposes of acquiring shares of Common Stock during an
offering period may be any multiple of one percent (1%) of the Base Salary paid
to the Participant during each Purchase Interval within that offering period,
up to a maximum of fifteen percent (15%). 
The deduction rate so authorized shall continue in effect throughout the
offering period, except to the extent such rate is changed in accordance with
the following guidelines:

 

(i)                                     The Participant may, at any time
during the offering period, reduce his or her rate of payroll deduction to
become effective as soon as possible after filing the appropriate form with the
Plan Administrator.  The Participant may
not, however, effect more than one (1) such reduction per Purchase
Interval.

 

(ii)                                  The Participant may, prior to the
commencement of any new Purchase Interval within the offering period, increase
the rate of his or her payroll deduction by filing the appropriate form with
the Plan Administrator.  The new rate
(which may not exceed the fifteen percent (15%) maximum) shall become effective
on the start date of the first Purchase Interval following the filing of such
form.

 

B.                                     Payroll deductions shall begin on
the first pay day following the Participant’s Entry Date into the offering
period and shall (unless sooner terminated by the Participant) continue through
the pay day ending with or immediately prior to the last day of that offering
period.  The amounts so collected shall
be credited to the Participant’s book account under the Plan, but no interest
shall be paid on the balance from time to time outstanding in such
account.  The amounts collected from the
Participant shall not be required to be held in any segregated account or trust
fund and may be commingled with the general assets of the Corporation and used
for general corporate purposes.

 

C.                                     Payroll deductions shall
automatically cease upon the termination of the Participant’s purchase right in
accordance with the provisions of the Plan.

 

D.                                    The Participant’s acquisition of
Common Stock under the Plan on any Purchase Date shall neither limit nor
require the Participant’s acquisition of Common Stock on any subsequent
Purchase Date, whether within the same or a different offering period.

 

VII.                            PURCHASE RIGHTS

 

A.                                   Grant of
Purchase Right.  A Participant shall be granted a separate
purchase right for each offering period in which he or she participates.  The purchase right shall be granted on the
Participant’s Entry Date into the offering period and shall provide the
Participant with the right to purchase shares of Common Stock, in a series of
successive installments over the remainder of such offering period, upon the
terms set forth below.  The Participant shall
execute a stock purchase agreement embodying such terms and such other
provisions (not inconsistent with the Plan) as the Plan Administrator may deem
advisable.

 

3

 

Under no circumstances
shall purchase rights be granted under the Plan to any Eligible Employee if
such individual would, immediately after the grant, own (within the meaning of
Code Section 424(d)) or hold outstanding options or other rights to purchase,
stock possessing five percent (5%) or more of the total combined voting power
or value of all classes of stock of the Corporation or any Corporate Affiliate.

 

B.                                     Exercise
of the Purchase Right.  Each purchase right shall be automatically
exercised in installments on each successive Purchase Date within the offering
period, and shares of Common Stock shall accordingly be purchased on behalf of
each Participant (other than Participants whose payroll deductions have
previously been refunded pursuant to the Termination of Purchase Right provisions
below) on each such Purchase Date.  The
purchase shall be effected by applying the Participant’s payroll deductions for
the Purchase Interval ending on such Purchase Date to the purchase of whole
shares of Common Stock at the purchase price in effect for the Participant for
that Purchase Date.

 

C.                                     Purchase
Price.  The purchase price per share at which Common
Stock will be purchased on the Participant’s behalf on each Purchase Date
within the offering period shall be established by the Plan Administrator; provided
however, that such purchase price shall not be less than eighty-five percent
(85%) of the lower of (i) the Fair Market Value per share of Common
Stock on the Participant’s Entry Date into that offering period or (ii) the
Fair Market Value per share of Common Stock on that Purchase Date.  Subject to adjustment as provided in Article X
below, the purchase price per share at which Common Stock will be purchased on
the Participant’s behalf on each Purchase Date within the offering period shall
be equal to eighty-five percent (85%) of the lower of (i) the Fair
Market Value per share of Common Stock on the Participant’s Entry Date into
that offering period or (ii) the Fair Market Value per share of Common
Stock on that Purchase Date.

 

D.                                    Number of
Purchasable Shares.  The number of shares of Common Stock
purchasable by a Participant on each Purchase Date during the offering period
shall be the number of whole shares obtained by dividing the amount collected
from the Participant through payroll deductions during the Purchase Interval
ending with that Purchase Date by the purchase price in effect for the
Participant for that Purchase Date. 
However, the maximum number of shares of Common Stock purchasable per
Participant on any one Purchase Date shall not exceed Two Hundred (200) shares,
subject to periodic adjustments in the event of certain changes in the
Corporation’s capitalization.  In
addition, the maximum number of shares of Common Stock purchasable in the
aggregate by all Participants on any one Purchase Date under the Plan and the
International Plan shall not exceed One Hundred Twenty Five Thousand (125,000)
shares (or such other number designated by the Plan Administrator), subject to
periodic adjustments in the event of certain changes in the corporation’s
capitalization.

 

E.                                      Excess
Payroll Deductions.  Any payroll deductions not applied to the
purchase of shares of Common Stock on any Purchase Date because they are not
sufficient to purchase a whole share of Common Stock shall be held for the
purchase of Common Stock on the next Purchase Date.  However, any payroll deductions not applied
to the purchase of Common Stock by reason of the limitation on the maximum
number of shares purchasable on the Purchase Date shall be promptly refunded.

 

4

 

F.                                      Termination
of Purchase Right.  The following provisions shall govern the
termination of outstanding purchase rights:

 

(i)                                     A Participant may, at any time prior
to the next scheduled Purchase Date in the offering period, terminate his or
her outstanding purchase right by filing the appropriate form with the Plan
Administrator (or its designate), and no further payroll deductions shall be
collected from the Participant with respect to the terminated purchase right.  Any payroll deductions collected during the
Purchase Interval in which such termination occurs shall, at the Participant’s
election, be immediately refunded or held for the purchase of shares on the
next Purchase Date.  If no such election
is made at the time such purchase right is terminated, then the payroll
deductions collected with respect to the terminated right shall be refunded as
soon as possible.

 

(ii)                                  The termination of such purchase
right shall be irrevocable, and the Participant may not subsequently rejoin the
offering period for which the terminated purchase right was granted.  In order to resume participation in any
subsequent offering period, such individual must re-enroll in the Plan (by
making a timely filing of the prescribed enrollment forms) on or before his or
her scheduled Entry Date into that offering period.

 

(iii)                               Should the Participant cease to
remain an Eligible Employee for any reason (including death, disability or
change in status) while his or her purchase right remains outstanding, then
that purchase right shall immediately terminate, and all of the Participant’s
payroll deductions for the Purchase Interval in which the purchase right so
terminates shall be immediately refunded. 
However, should the Participant cease to remain in active service by
reason of an approved unpaid leave of absence, then the Participant shall have
the right, exercisable up until the last business day of the Purchase Interval
in which such leave commences, to (a) withdraw all the payroll deductions
collected to date on his or her behalf for that Purchase Interval or (b) have
such funds held for the purchase of shares on his or her behalf on the next
scheduled Purchase Date.  In no event,
however, shall any further payroll deductions be collected on the Participant’s
behalf during such leave.  Upon the
Participant’s return to active service (i) within ninety (90) days
following the commencement of such leave or, (ii) prior to the expiration
of any longer period for which such Participant’s right to reemployment with
the Corporation is guaranteed by either statute or contract, his or her payroll
deductions under the Plan shall automatically resume at the rate in effect at
the time the leave began.  However,
should the Participant’s leave of absence exceed ninety (90) days and his or
her re-employment rights not be guaranteed by either statute or contract, then
the Participant’s status as an Eligible Employee will be deemed to terminate on
the ninety-first (91st) day of that leave, and such Participant’s purchase
right for the offering period in which that leave began shall thereupon
terminate.  An individual who returns to
active employment following such a leave shall be treated as a new Employee for
purposes of the Plan and must, in order to resume participation in the Plan,
re-enroll in the Plan

 

5

 

(by
making a timely filing of the prescribed enrollment forms) on or before his or
her scheduled Entry Date into the offering period.

 

G.                                     Change of
Control.  Each outstanding purchase right shall
automatically be exercised, immediately prior to the effective date of any
Change of Control, by applying the payroll deductions of each Participant for
the Purchase Interval in which such Change of Control occurs to the purchase of
whole shares of Common Stock at the purchase price per share established by the
Plan Administrator for the applicable offering period, treating as the Purchase
Date for this purpose the date on which shares are purchased immediately prior
to the effective date of such Change of Control .  However, the applicable limitation on the
number of shares of Common Stock purchasable by all Participants in the
aggregate shall not apply to any such purchase.

 

The Corporation shall use
its best efforts to provide at least ten (10)-days prior written notice of the
occurrence of any Change of Control, and Participants shall, following the
receipt of such notice, have the right to terminate their outstanding purchase
rights prior to the effective date of the Change of Control.

 

H.                                    Proration
of Purchase Rights.  Should the total number of shares of Common
Stock to be purchased pursuant to outstanding purchase rights on any particular
date exceed the number of shares then available for issuance under the Plan,
the Plan Administrator shall make a pro-rata allocation of the available shares
on a uniform and nondiscriminatory basis, and the payroll deductions of each
Participant, to the extent in excess of the aggregate purchase price payable
for the Common Stock pro-rated to such individual, shall be refunded.

 

I.                                         Assignability. 
The purchase right shall be exercisable only by the Participant and
shall not be assignable or transferable by the Participant.

 

J.                                        Stockholder
Rights.  A Participant shall have no stockholder rights
with respect to the shares subject to his or her outstanding purchase right
until the shares are purchased on the Participant’s behalf in accordance with
the provisions of the Plan and the Participant has become a holder of record of
the purchased shares.

 

VIII.                        ACCRUAL LIMITATIONS

 

A.                                   No Participant shall be entitled to
accrue rights to acquire Common Stock pursuant to any purchase right
outstanding under this Plan if and to the extent such accrual, when aggregated
with (i) rights to purchase Common Stock accrued under any other purchase
right granted under this Plan and (ii) similar rights accrued under other
employee stock purchase plans (within the meaning of Code Section 423) of
the Corporation or any Corporate Affiliate, would otherwise permit such
Participant to purchase more than Twenty-Five Thousand Dollars ($25,000) worth
of stock of the Corporation or any Corporate Affiliate (determined on the basis
of the Fair Market Value per share on the date or dates such rights are
granted) for each calendar year such rights are at any time outstanding.

 

B.                                     For purposes of applying such
accrual limitations to the purchase rights granted under the Plan, the
following provisions shall be in effect:

 

6

 

(i)                                     The right to acquire Common Stock
under each outstanding purchase right shall accrue in a series of installments
on each successive Purchase Date during the offering period on which such right
remains outstanding.

 

(ii)                                  No right to acquire Common Stock
under any outstanding purchase right shall accrue to the extent the Participant
has already accrued in the same calendar year the right to acquire Common Stock
under one (1) or more other purchase rights at a rate equal to Twenty-Five
Thousand Dollars ($25,000) worth of Common Stock (determined on the basis of
the Fair Market Value per share on the date or dates of grant) for each
calendar year such rights were at any time outstanding.

 

C.                                     If by reason of such accrual
limitations, any purchase right of a Participant does not accrue for a
particular Purchase Interval, then the payroll deductions which the Participant
made during that Purchase Interval with respect to such purchase right shall be
promptly refunded.

 

D.                                    In the event there is any conflict
between the provisions of this Article and one or more provisions of the
Plan or any instrument issued thereunder, the provisions of this Article shall
be controlling.

 

IX.                                EFFECTIVE DATE AND TERM OF THE PLAN

 

A.                                   The Plan was adopted by the Board on
January 5, 2000 and shall become effective at the Effective Time, provided
no purchase rights granted under the Plan shall be exercised, and no shares of
Common Stock shall be issued hereunder, until (i) the Plan shall have been
approved by the stockholders of the Corporation and (ii) the Corporation
shall have complied with all applicable requirements of the 1933 Act (including
the registration of the shares of Common Stock issuable under the Plan on a Form S-8
registration statement filed with the Securities and Exchange Commission), all
applicable listing requirements of any stock exchange (or the Nasdaq National
Market, if applicable) on which the Common Stock is listed for trading and all
other applicable requirements established by law or regulation.  In the event such stockholder approval is not
obtained, or such compliance is not effected, within twelve (12) months after
the date on which the Plan is adopted by the Board, the Plan shall terminate
and have no further force or effect, and all sums collected from Participants
during the initial offering period hereunder shall be refunded.

 

B.                                     Unless sooner terminated by the
Board, the Plan shall terminate upon the earliest of (i) the last
business day in April 2010, (ii) the date on which all shares
available for issuance under the Plan shall have been sold pursuant to purchase
rights exercised under the Plan or (iii) the date on which all purchase
rights are exercised in connection with a Change in Control.  No further purchase rights shall be granted
or exercised, and no further payroll deductions shall be collected, under the
Plan following such termination.

 

X.                                    AMENDMENT/TERMINATION OF THE PLAN

 

A.                                   The Board may alter, amend, suspend
or terminate the Plan at any time to become effective immediately following the
close of any Purchase Interval.  However,
the Plan

 

7

 

may be amended or
terminated immediately upon Board action, if and to the extent necessary to
assure that the Corporation will not recognize, for financial reporting
purposes, any compensation expense in connection with the shares of Common
Stock offered for purchase under the Plan, should the financial accounting rules applicable
to the Plan at the Effective Time be subsequently revised so as to require the
recognition of compensation expense in the absence of such amendment or
termination.  Such actions by the Board
may include, without limitation, (i) termination of the Plan or any
offering period or Purchase Interval, (ii) acceleration of the Purchase
Date of any Purchase Interval, (iii) reduction of the discount or change
in the method of determining the purchase price in any Purchase Interval or
offering period (e.g., by determining the purchase price solely on the basis of
the Fair Market Value on the Purchase Date), (iv) reduction in the maximum
number of shares that may be purchased by any Participant or in the aggregate
by all Participants on any Purchase Date or (v) any combination of the
foregoing actions.

 

B.                                     In no event may the Board effect any
of the following amendments or revisions to the Plan without the approval of
the Corporation’s stockholders: (i) increase the number of shares of
Common Stock issuable under the Plan, except for permissible adjustments in the
event of certain changes in the Corporation’s capitalization, (ii) alter
the purchase price formula so as to reduce the purchase price payable for the
shares of Common Stock purchasable under the Plan or (iii) modify
eligibility requirements for participation in the Plan.

 

XI.                                GENERAL PROVISIONS

 

A.                                   Nothing in the Plan shall confer
upon the Participant any right to continue in the employ of the Corporation or
any Corporate Affiliate for any period of specific duration or interfere with
or otherwise restrict in any way the rights of the Corporation (or any
Corporate Affiliate employing such person) or of the Participant, which rights
are hereby expressly reserved by each, to terminate such person’s employment at
any time for any reason, with or without cause.

 

B.                                     All costs and expenses incurred in the
administration of the Plan shall be paid by the Corporation; however, each Plan
Participant shall bear all costs and expenses incurred by such individual in
the sale or other disposition of any shares purchased under the Plan.

 

C.                                     The
provisions of the Plan shall be governed by the laws of the State of Texas
without regard to that State’s conflict-of-laws rules.

 

8

 

Schedule A

 

Corporations Participating in

Employee Stock Purchase Plan

As of the Effective Time

 

Silicon Laboratories Inc.

 

Silicon Laboratories UK, Ltd.

 

 

APPENDIX

 

The following definitions
shall be in effect under the Plan:

 

A.                                   Base
Salary
shall mean the regular base salary or wages, overtime payments and shift
premiums paid to a Participant by one or more Participating Companies during
such individual’s period of participation in one or more offering periods under
the Plan and shall be calculated before deduction of (i) any income or
employment tax withholdings or (ii) any contributions made by the
Participant to any Code Section 401(k) salary deferral plan or any Code Section 125
cafeteria benefit program now or hereafter established by the Corporation or
any Corporate Affiliate.  Base Salary
shall not include (i) any bonuses,
commissions, profit-sharing distributions or other incentive-type payments or (ii) any
contributions made by the Corporation or any Corporate Affiliate on the
Participant’s behalf to any employee benefit or welfare plan now or hereafter
established (other than Code Section 401(k) or Code Section 125
contributions deducted from such Base Salary).

 

B.                                     Board shall mean the Corporation’s Board
of Directors.

 

C.                                     Change of
Control
shall mean a change of ownership of the Corporation pursuant to any of the
following transactions:

 

(i)                                     a merger or consolidation in which
securities possessing more than fifty percent (50%) of the total combined
voting power of the Corporation’s outstanding securities are transferred to a
person or persons different from the persons holding those securities
immediately prior to such transaction, or

 

(ii)                                  the sale, transfer or other
disposition of all or substantially all of the assets of the Corporation in
complete liquidation or dissolution of the Corporation, or

 

(iii)                               the acquisition,
directly or indirectly, by a person or related group of persons
(other than the Corporation or a person that directly or indirectly controls,
is controlled by or is under common control with the Corporation) of beneficial
ownership (within the meaning of Rule 13d-3 of the 1934 Act) of securities
possessing more than fifty percent (50%) of the total combined voting power of
the Corporation’s outstanding securities pursuant to a tender or exchange offer
made directly to the Corporation’s stockholders.

 

D.                                    Code shall mean the Internal Revenue
Code of 1986, as amended.

 

E.                                      Common
Stock
shall mean the Corporation’s common stock.

 

F.                                      Corporate
Affiliate
shall mean any parent or subsidiary corporation of the Corporation (as
determined in accordance with Code Section 424), whether now existing or
subsequently established.

 

 

G.                                     Corporation shall mean Silicon Laboratories
Inc., a Delaware corporation, and any corporate successor to all or
substantially all of the assets or voting stock of Silicon Laboratories Inc.
which shall by appropriate action adopt the Plan.

 

H.                                    Effective
Time
shall mean the time at which the Underwriting Agreement is executed. Any
Corporate Affiliate which becomes a Participating Corporation after such
Effective Time shall designate a subsequent Effective Time with respect to its
employee-Participants.

 

I.                                         Eligible
Employee
shall mean any person who is employed by a Participating Corporation on a basis
under which he or she is regularly expected to render more than twenty (20)
hours of service per week for more than five (5) months per calendar year
for earnings considered wages under Code Section 3401(a).

 

J.                                        Entry
Date
shall mean the date an Eligible Employee first commences participation in the
offering period in effect under the Plan. 
The earliest Entry Date under the Plan shall be the Effective Time.

 

K.                                    Fair
Market Value
per share of Common Stock on any relevant date shall be determined as of the “Applicable
Date” (as defined below) in accordance with the following provisions:

 

(i)                                     If the Common Stock is at the time
traded on the Nasdaq National Market, then the Fair Market Value shall be the
closing selling price per share of Common Stock on the Applicable Date, as such
price is reported by the National Association of Securities Dealers on the
Nasdaq National Market or any successor system. 
If there is no closing selling price for the Common Stock on the
Applicable Date, then the Fair Market Value shall be the closing selling price
on the last preceding date for which such quotation exists.

 

(ii)                                  If the Common Stock is at the time
listed on any Stock Exchange, then the Fair Market Value shall be the closing
selling price per share of Common Stock on the Applicable Date on the Stock
Exchange determined by the Plan Administrator to be the primary market for the
Common Stock, as such price is officially quoted in the composite tape of
transactions on such exchange.  If there
is no closing selling price for the Common Stock on the Applicable Date, then
the Fair Market Value shall be the closing selling price on the last preceding
date for which such quotation exists.

 

(iii)                               For purposes of the initial offering
period which begins at the Effective Time, the Fair Market Value shall be
deemed to be equal to the price per share at which the Common Stock is sold in
the initial public offering pursuant to the Underwriting Agreement.

 

For the purposes
of this provision, the “Applicable Date” shall be (a) with respect to any
Entry Date, the last business day immediately preceding the Entry Date and (b) with
respect to any Purchase Date, such Purchase Date.

 

 

L.                                      1933 Act shall mean the Securities Act of
1933, as amended.

 

M.                                 Participant shall mean any Eligible Employee of
a Participating Corporation who is actively participating in the Plan.

 

N.                                    Participating
Corporation
shall mean the Corporation and such Corporate Affiliate or Affiliates as may be
authorized from time to time by the Board to extend the benefits of the Plan to
their Eligible Employees.  The
Participating Corporations in the Plan are listed in attached Schedule A.

 

O.                                    Plan shall mean the Corporation’s
Employee Stock Purchase Plan, as set forth in this document.

 

P.                                      Plan
Administrator
shall mean the committee of two (2) or more Board members appointed by the
Board to administer the Plan.

 

Q.                                    Purchase
Date
shall mean the last business day of each Purchase Interval.  The initial Purchase Date shall be October 31,
2000.

 

R.                                     Purchase
Interval
shall mean each successive six (6)-month period within the offering period at
the end of which there shall be purchased shares of Common Stock on behalf of
each Participant.

 

S.                                      Semi-Annual
Entry Date
shall mean the first business days in May and November each year (or
such other days as may be established by the Plan Administrator) on which an
Eligible Employee may first enter an offering period.

 

T.                                     Stock
Exchange
shall mean either the American Stock Exchange or the New York Stock Exchange.

 

U.                                    Underwriting
Agreement
shall mean the agreement between the Corporation and the underwriter or
underwriters managing the Corporation’s initial public offering of its Common
Stock.

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