Document:

exv10wff

 

EXHIBIT
10.FF

October 16, 2006

Mr. Kevin Barber

Re: Amended and Restated Change in Control / Severance Agreement

Dear Kevin:

This letter sets out the severance arrangements concerning your employment with Skyworks Solutions,
Inc. (“Skyworks”).

	1.	 	Change of Control

	 	1.1.	 	If: (i) a Change of Control occurs while you are employed by Skyworks and (ii) your
employment with Skyworks is involuntarily terminated without Cause or you terminate your
employment with Skyworks for Good Reason, in either case within one (1) year after the
Change of Control, then you will receive the benefits provided in Section 1.4 below.
	 
	 	1.2.	 	“Change of Control” means an event or occurrence set forth in any one or more of
subsections (a) through (d) below (including an event or occurrence that constitutes a
Change of Control under one of such subsections but is specifically exempted from another
such subsection):

     (a) the acquisition by an individual, entity or group (within the meaning of Section
13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”)) (a “Person”) of beneficial ownership of any capital stock of the Company if, after
such acquisition, such Person beneficially owns (within the meaning of Rule 13d-3
promulgated under the Exchange Act) 40% or more of either (x) the then-outstanding shares of
common stock of the Company (the “Outstanding Company Common Stock”) or (y) the combined
voting power of the then-outstanding securities of the Company entitled to vote generally in
the election of directors (the “Outstanding Company Voting Securities”); provided,
however, that for purposes of this subsection (a), the following acquisitions shall not
constitute a Change of Control: (i) any acquisition directly from the Company (excluding an
acquisition pursuant to the exercise, conversion or exchange of any security exercisable
for, convertible into or exchangeable for common stock or voting securities of the Company,
unless the Person exercising, converting or exchanging such security acquired such security
directly from the Company or an underwriter or agent of the Company), (ii) any acquisition
by the Company, (iii) any acquisition by any employee benefit plan (or related trust)
sponsored or maintained by the Company or any corporation controlled by the Company, or (iv)
any acquisition by any corporation pursuant to a transaction which complies with clauses (i)
and (ii) of subsection (c) of this Section 1.2; or

781.376.3000 www.skyworksinc.com 20 Sylvan Rd. Woburn, MA 01801 USA

 

 

Kevin Barber

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     (b) such time as the Continuing Directors (as defined below) do not
constitute a majority of the Board (or, if applicable, the Board of Directors of a successor
corporation to the Company), where the term “Continuing Director” means at any date a member
of the Board (i) who was a member of the Board on the date of the execution of this
Agreement or (ii) who was nominated or elected subsequent to such date by at least a
majority of the directors who were Continuing Directors at the time of such nomination or
election or whose election to the Board was recommended or endorsed by at least a majority
of the directors who were Continuing Directors at the time of such nomination or election;
provided, however, that there shall be excluded from this clause (ii) any
individual whose initial assumption of office occurred as a result of an actual or
threatened election contest with respect to the election or removal of directors or other
actual or threatened solicitation of proxies or consents, by or on behalf of a person other
than the Board; or

     (c) the consummation of a merger, consolidation, reorganization,
recapitalization or statutory share exchange involving the Company or a sale or other
disposition of all or substantially all of the assets of the Company in one or a series of
transactions (a “Business Combination”), unless, immediately following such Business
Combination, each of the following two conditions is satisfied: (i) all or substantially all
of the individuals and entities who were the beneficial owners of the Outstanding Company
Common Stock and Outstanding Company Voting Securities immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 50% of the then-outstanding
shares of common stock and the combined voting power of the then-outstanding securities
entitled to vote generally in the election of directors, respectively, of the resulting or
acquiring corporation in such Business Combination (which shall include, without limitation,
a corporation which as a result of such transaction owns the Company or substantially all of
the Company’s assets either directly or through one or more subsidiaries) (such resulting or
acquiring corporation is referred to herein as the “Acquiring Corporation”) in substantially
the same proportions as their ownership, immediately prior to such Business Combination, of
the Outstanding Company Common Stock and Outstanding Company Voting Securities,
respectively; and (ii) no Person (excluding any employee benefit plan (or related trust)
maintained or sponsored by the Company or by the Acquiring Corporation) beneficially owns,
directly or indirectly, 40% or more of the then outstanding shares of common stock of the
Acquiring Corporation, or of the combined voting power of the then-outstanding securities of
such corporation entitled to vote generally in the election of directors (except to the
extent that such ownership existed prior to the Business Combination); or

     (d) approval by the stockholders of the Company of a complete liquidation or
dissolution of the Company.

	 	1.3.	 	“Good Reason” will mean (i) you are no longer assigned the duties of your current
position, (ii) you have been assigned duties inconsistent in any respect with your current
position, (iii) your annual base salary has been reduced, or (iv) the location at which you
perform your principal duties for Skyworks is moved to a new location that is more than 50
miles from the location at which you are performing your principal duties for Skyworks on
the date of this agreement.

 

 

Kevin Barber

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	 	1.4.	 	On the date of any termination described in Section 1.1, (i) Skyworks will at its
election either (a) provide you with salary continuation payments for twelve (12) months
based on an amount equal to two (2) times your total annual compensation for the twelve
month period prior to the Change of Control, including all wages, salary, bonus (as
described below) and incentive compensation, whether or not includable in gross income for
federal income tax purposes, or (b) provide you with a lump sum payment in an amount equal
to the total of the salary continuation payments in (a) immediately preceding; and (ii) all
of your Skyworks stock options will become immediately exercisable and, except as otherwise
stated in this agreement, remain exercisable for a period of twenty-four (24) months after
the termination date, subject to their other terms and conditions; and each outstanding
restricted stock award and any other award that is based upon the common stock of Skyworks
shall become immediately vested. For purposes of the preceding sentence, the bonus to be
taken into account shall be the greater of your average bonus for the three years prior to
the year in which the Change of Control occurs or your target bonus for the year in which
the Change of Control occurs. Skyworks agrees to make you whole for any payments owed by
you pursuant to so-called Section 409A (referenced in full in Section 5 of this Agreement)
if Skyworks election to pay you in either a lump sum or as salary continuation shall have
triggered such tax obligation.
	 
	 	1.5.	 	If any excise tax (the “Excise Tax”) under Section 4999 of the Internal Revenue Code of
1986 (the “Code”) is payable by you by reason of the occurrence of a change in the
ownership or effective control of Skyworks or a change in the ownership of a substantial
portion of the assets of Skyworks, determined in accordance with Section 280G(b)(2) of the
Code, then Skyworks shall pay you, in addition to the amount payable under Section 1.3, an
amount (the “Gross-Up Payment”) equal to the sum of the Excise Tax and the amount necessary
to pay all additional taxes imposed on (or economically borne by) you (including the Excise
Tax, state and federal income taxes and all applicable employment taxes) attributable to
the receipt of the Gross-Up Payment. For purposes of the proceeding sentence, all taxes
attributed to the receipt of the Gross-Up Payment shall be computed assuming the
application of the maximum tax rate provided by law.

	2.	 	Termination Without Cause

	 	2.1.	 	If, while you are employed by Skyworks, your employment with Skyworks is involuntarily
terminated without Cause, then you will receive the benefits specified in Section 2.3
below. If your employment is terminated involuntarily by Skyworks for Cause or by you, you
will not be entitled to receive the benefits specified in Section 2.3 below. This Section
2.1 shall not apply if you are entitled to receive the benefits set forth in Section 1.3
above. Your role and title at Skyworks commencing on the date hereof shall be “Special
Advisor” to the Chief Executive Officer, and you agree as of today’s date to resign as an
executive officer of Skyworks, and to sign a standard form of release on or about December
31, 2006 before receiving salary continuation payments pursuant to this Agreement. You will
remain on the Company payroll until December 31, 2006, after which you will receive the
payments set forth in Section 2.3 below. There may be further opportunities, for example in
the area of mergers and acquisitions, for you to contribute to the organization going
forward; that

 

 

Kevin Barber

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	 	 	 	relationship in the future would be the subject of a new agreement between you and
Skyworks.
	 
	 	2.2.	 	“Cause” will mean: (i) deliberate dishonesty significantly detrimental to the best
interests of Skyworks or any subsidiary or affiliate; (ii) conduct on your part
constituting an act of moral turpitude; (iii) willful disloyalty to Skyworks or refusal or
failure to obey the directions of the Board of Directors; (iv) incompetent performance or
substantial or continuing inattention to or neglect of duties assigned to you. Any
determination of Cause must be made by the full Board of Directors at a meeting duly
called.
	 
	 	2.3.	 	On the date of any termination described in Section 2.1, (i) Skyworks will provide you
with salary continuation payments for twelve (12) months based on an amount equal to one
and one-quarter (1 1/4) times your then current annual base salary; and (ii) all of your
Skyworks stock options will, except as otherwise stated in this agreement, remain
exercisable for a period of 18 months after the termination date, subject to their other
terms and conditions.

	3.	 	Non-Solicitation
	 
	 	 	You agree that while employed by the Company and for one year (1 year) thereafter, you will not,
either directly or through others, raid, solicit, or attempt to solicit any employee of the
Company to terminate his or her relationship with the Company in order to become an employee to
or for any person or entity. You further agree that you will not disrupt or interfere or
attempt to disrupt or interfere with the Company’s relationships with such employees. You also
agree that in addition to any damages that may be recovered, the prevailing party in any legal
action to enforce this non-solicitation agreement shall be entitled to recover its costs and
attorneys’ fees from the other party.
	 
	4.	 	Death or Disability
	 
	 	 	In the event of your death at any time during your employment by Skyworks, all of your then
outstanding Company stock options, whether or not by their terms then exercisable, will become
immediately exercisable and remain exercisable for a period of one year thereafter, subject to
their other terms and conditions.
	 
	 	 	In the event of your disability at any time during your employment by Skyworks, all of your then
outstanding Company stock options, whether or not by their terms then exercisable, will become
immediately exercisable and remain exercisable so long as you remain an employee or officer of
Skyworks and for a period of one year thereafter, subject to their other terms and conditions.
	 
	5.	 	Miscellaneous
	 
	 	 	All claims by you for benefits under this Agreement shall be directed to and determined by the
Board of Directors of the Company and shall be in writing. Any denial by the Board of Directors
of a claim for benefits under this Agreement shall be delivered to you in writing and shall set
forth the specific reasons for the denial and the specific provisions of this Agreement relied
upon. The Board of Directors shall afford a reasonable opportunity to you for a review of

 

 

Kevin Barber

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	 	 	the decision denying a claim. Any further dispute or controversy arising under or in connection
with this Agreement shall be settled exclusively by arbitration in Boston, Massachusetts, in
accordance with the rules of the American Arbitration Association then in effect. Judgment may
be entered on the arbitrator’s award in any court having jurisdiction. The Company agrees to
pay as incurred, to the full extent permitted by law, all legal, accounting and other fees and
expenses which you may reasonably incur as a result of any claim or contest (regardless of the
outcome thereof) by the Company, you or others regarding the validity or enforceability of, or
liability under, any provision of this Agreement or any guarantee of performance thereof
(including as a result of any contest by you regarding the amount of any payment or benefits
pursuant to this Agreement), plus in each case interest on any delayed payment at the applicable
Federal rate provided for in Section 7872(f)(2)(A) of the Code.
	 
	 	 	Notwithstanding anything in this letter to the contrary, no provision of this letter will
operate to extend the term of any option beyond the term originally stated in the applicable
option grant or option agreement. This agreement contains the entire understanding of the
parties concerning its subject matter. This agreement may be modified only by a written
instrument executed by both parties. This agreement replaces and supersedes all prior
agreements relating to your employment or severance. This agreement will be governed by and
construed in accordance with the laws of the State of California.
	 
	 	 	Neither you nor the Company shall have the right to accelerate or to defer the delivery of the
payments to be made under Section 1.4 or Section 2.3; provided, however, that if
you are a “specified employee” as defined in Section 409A(a)(2)(B)(i) of the Internal Revenue
Code of 1986, as amended (the “Code”) and any of the payments to be made to you hereunder
constitute “nonqualified deferred compensation” within the meaning of Section 409A of the Code,
then the commencement of the delivery of any such payments will be delayed to the date that is 6
months after your date of termination.

Please sign both copies of this letter and return one to Skyworks.

	 	 	 
	Sincerely,

	 	AGREED TO:
	 
	 	 
	/s/ David J. Aldrich

	 	/s/ Kevin Barber
	 

	 	 
	David J. Aldrich, President and CEO

	 	Kevin Barber
	 
	 	 
	Date: October 18, 2006

	 	Date: October 18 , 2006exv10wkv2

 

EXHIBIT 10-k-2

Schedule identifying agreements, entered into between Conexant Systems, Inc. (the “Company”) and
each of the following persons, substantially identical to the Employment Agreement constituting
Exhibit 10.5 to the Quarterly Report on Form 10-Q of the Company for the quarterly period ended
December 31, 1998

Name

Lewis C. Brewster

Dennis E. O’Reilly

F. Matthew Rhodes

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