Document:

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                                                                   EXHIBIT 10.10

[INTEVAC LETTERHEAD]

January 24, 2002

Mr. Kevin Fairbairn
106 Kennedy Court
Los Gatos, CA 95032

Dear Kevin

On behalf of Intevac (the "Company"), I am pleased to offer you the position of
President and Chief Executive Officer of the Company. Speaking for myself, as
well as the other members of the Company's Board of Directors, we are all very
impressed with you and your credentials and we look forward to your future
success in this position.

The terms of your new position with the Company are set forth below:

You will become the President and Chief Executive of the Company. As President
and Chief Executive Office, you will have responsibility for the general
management of the Company's business and you will report to the Board of
Directors.

You will be paid a monthly base salary of $20,417, which is equivalent to
$245,000 on an annualized basis. Your salary will be payable pursuant to the
Company's regular payroll policy. You will be eligible for an annual performance
bonus of up to 200% of annual salary predicated upon achieving specific goals
and objectives. At the Company's election the bonus paid above 50% of salary may
be paid in cash or stock. The details of this bonus plan will be worked out
jointly between you and the Board and agreed to annually within sixty (60) days
after approval of the years' annual operating plan. For the year 2002 the
understanding is that a bonus of 50% will be awarded at end of 2002 provided the
company performance is reasonably good with details to be agreed by 4/1/02.

In addition, upon becoming an employee of the Company, I will recommend that the
Board of Directors grant you an option to purchase an aggregate of 250,000
shares Intevac's common stock at an exercise price equal to the fair market
value of the Common Stock on the date of the grant, as determined by the Board
of Directors. These option shares will vest at the rate of 1/5th of the total
number of shares on the first anniversary of your date of employment, and an
additional 1/60th of the total number of shares at the end of each one-month
period thereafter.

In the event of a Change of Control after which Intevac stock would not exist
(such as purchase of the Company for cash) all options in this grant that have
not vested will immediately vest and be exercised.

In the event of a Change of Control after which Intevac stock survives the
employee may elect to retain the unvested options or to accelerate vesting with
conditions like those in the "purchase of the Company for cash" situation.

In the event of a Change of Control after which stock in the acquiring company
is exchanged for Intevac stock and the acquiring company offers to provide an
option in a different stock of equivalent economic value the employee may elect
to accept the new stock options or accelerate vesting with conditions like those
in the "purchase the Company for cash" situation.
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"Change of Control" means a merger or acquisition of the Company in a
transaction pursuant to which the shareholders of the Company immediately prior
to such transaction own less than fifty percent (50%) of the surviving entity in
such transaction, or sale of all or substantially all of the assets of the
Company.

In the event of the involuntary termination of your position as President and
Chief Executive Officer for any reason not involving good cause, conditioned
upon your execution  of a waiver and release of claims that is acceptable to the
Company, the Company will continue to pay your base salary for twelve (12)
months following such termination.

In the event of change of control where the buyer decides to not continue your
position, the Company will continue to pay you an amount equal to your base
salary for twelve (12) months in one lump sum. In the event the buyer requests
that you continue as CEO or equivalent position a contract will be established
with the buyer requiring them to pay you an amount equal to twice (2 times) your
annual salary after 12 months employment.

You will be eligible to participate in the Company's standard benefits program,
details of which will be sent under separate cover.

This offer of employment is contingent upon (1) your signing the Company's
Employee Proprietary Information Agreement, and (2) your providing proof of your
eligibility to work in the U.S.

Your employment with the Company will be on an "at will" basis, meaning that
either you or the Company may terminate your employment at any time for any
reason or no reason.

Kevin, we are all delighted to be able to extend you this offer and look forward
to working with you.

To indicate your acceptance of the Company's offer, please sign and date this
letter in the space provided below and return it to me.

Sincerely,

/s/ NORMAN H. POND

Norman H. Pond
Chairman

Accepted and Agreed:

Signature: /s/ K.P. FAIRBAIRN
          -------------------------

Start Date:  24 Jan 02
           ------------------------
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[INTEVAC LETTERHEAD]

                                        January 24, 2002

Kevin Fairbairn
Address
Los Gatos, CA

Dear Kevin,

Congratulations and welcome to Intevac. This is to confirm your acceptance with
an immediate start date. As we discussed, it is important that you become
involved right away with some important decisions. I appreciate you devoting
part of your time to Intevac until February 24, 2002, at which time, you will
become a full-time employee with Intevac.

Thank you again and welcome aboard.

                                        Sincerely,

                                        /s/ NORM POND

                                        NORM POND<PAGE>
                                                                   EXHIBIT 10.77

                            STOCK TRANSFER AGREEMENT

        This Stock Transfer Agreement (the "Agreement") is made and entered into
as of April 19, 2002, by and between Elex N.V., a Belgian corporation
("Transferor") and Catalyst Semiconductor, Inc., a Delaware corporation
("Transferee").

                                    AGREEMENT

        The parties hereby agree as follows:

        1. TRANSFER AND SALE. Subject to the terms and conditions of this
Agreement, Transferor agrees to transfer and sell 1,500,000 shares of Common
Stock of Transferee standing in Transferor's name on Transferee's books and
represented by Certificate No(s). FBU 1598 (the "Shares") to Transferee, and
Transferee agrees to purchase the Shares from Transferor, as of the Closing Date
(as defined below), at a purchase price of US $3.1255 per share.

        2. CLOSING. The transfer and sale of the Shares pursuant to this
Agreement shall occur simultaneously with the execution of this Agreement by the
parties or as soon thereafter as possible (the "Closing Date"). On the Closing
Date, Transferor shall deliver to Transferee the original certificate or
certificates representing the Shares, registered in the name of Transferor, duly
endorsed by Transferor for transfer to Transferee or accompanied by an
Assignment Separate from Certificate in the form attached to this Agreement as
Exhibit A executed by Transferor in favor of Transferee (and guaranteed by bank
or gold medallion signature or such other method as is required by Transferee's
transfer agent in order to facilitate the transfer of the Shares) against
payment of the aggregate purchase price for the Shares of $4,688,250, which
shall be paid by wire transfer to an account designated by Transferor.

        3. REPRESENTATIONS AND WARRANTIES OF TRANSFEROR. In connection with the
transfer of the Shares to Transferee, Transferor hereby represents and warrants
that:

               (a) Transferor is the sole beneficial owner of the Shares;

               (b) Transferor owns the Shares free and clear of any liens or
        encumbrances (other than restrictions on transfer under applicable state
        and federal laws and any restrictions under the Original Agreements (as
        defined below));

               (c) Transferor has good and marketable title to the Shares and
        the right and authority to sell the Shares to the Transferee pursuant to
        this Agreement and without any third party consent;

               (d) All corporate action on the part of Transferor necessary for
        the authorization, execution and delivery of this Agreement, the
        performance of all obligations of the Transferor hereunder, including
        delivery of the Shares, and this Agreement when executed by Mr.
        Duchatelet on behalf of Transferor, shall constitute valid and legally
        binding obligations of Transferor, enforceable against Transferor in
        accordance the terms of this Agreement;

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               (e) Transferor has complied and shall continue to comply with all
        of its obligations contained in the Original Agreements; and

               (f) Transferor will cooperate with Transferee in the completion
        and filing of all applicable filings which may be required to be made
        with the Securities and Exchange Commission in connection with this
        transaction pursuant to the Exchange Act of 1934, as amended.

        4. REMAINING SHARES. The transfer and sale of the Shares by Transferor
to Transferee pursuant to the terms of this Agreement shall in no way alter any
of Transferor's obligations which are set forth in (i) the Common Stock Purchase
Agreement dated as of May 3, 1998 entered into by and between Transferor and
Transferee; (ii) the Common Stock Purchase Agreement dated as of September 14,
1998 entered into by and between Transferor and Transferee; and (iii) the
Amended and Restated Standstill Agreement by and between Transferor and
Transferee dated as of September 14, 1998 (collectively, the "Original
Agreements") including without limitation, with respect to any of the remaining
four million (4,000,000) shares of Transferee's Common Stock which were
purchased by Transferor pursuant to the Original Agreements and which continue
to be held by Transferor and any shares of Transferee's Common Stock that are
purchased on and after the Closing Date in accordance with the Original
Agreements (the "Standstill Shares"). Further, in no way shall Transferee's
execution of this Agreement constitute a waiver by Transferee with respect to
any rights it may have with respect to the Standstill Shares pursuant to the
Original Agreements.

        5. MISCELLANEOUS.

               (a) GOVERNING LAW. This Agreement and all acts and transactions
pursuant hereto and the rights and obligations of the parties hereto shall be
governed, construed and interpreted in accordance with the laws of the State of
California, without giving effect to principles of conflicts of law.

               (b) ENTIRE AGREEMENT; AMENDMENT. Except as expressly set forth
herein, this Agreement sets forth the entire agreement and understanding of the
parties relating to the subject matter herein and merges all prior discussions
between them. No modification of or amendment to this Agreement, nor any waiver
of any rights under this Agreement, shall be effective unless in writing signed
by the parties to this Agreement.

               (c) NOTICES. Any notice required or permitted by this Agreement
shall be in writing and shall be deemed sufficient when delivered personally or
sent by fax (as evidenced by sender's confirmation receipt) or forty-eight (48)
hours after being deposited in the U.S. mail, as certified or registered mail,
with postage prepaid, and addressed to the party to be notified at such party's
address as set forth below or as subsequently modified by written notice.

               (d) COUNTERPARTS. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original and all of which
together shall constitute one instrument.

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        The parties have executed this Stock Transfer Agreement as of the date
first set forth above.

                               ELEX N.V.

                               /s/ Roland Duchatelet
                               ------------------------------------
                               By:  Roland Duchatelet
                               Its:  Chairman of the Board

                               CATALYST SEMICONDUCTOR, INC.

                               /s/ Radu M. Vanco
                               ------------------------------------
                               By: Radu M. Vanco
                               Its:  President and Chief Executive Officer

                   SIGNATURE PAGE TO STOCK TRANSFER AGREEMENT

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                                    EXHIBIT A

                      ASSIGNMENT SEPARATE FROM CERTIFICATE

        FOR VALUE RECEIVED and pursuant to that certain Stock Transfer Agreement
by and between the undersigned ("Transferor") and Catalyst Semiconductor, Inc.
(the "Company") dated April 19, 2002 (the "Agreement"), Transferor hereby sells,
assigns and transfers unto the Company 1,500,000 shares of the Common Stock of
the Company standing in Transferor's name on the Company's books and represented
by Certificate No(s). FBU 1598, and does hereby irrevocably constitute and
appoint EquiServe Trust Company N.A. to transfer said stock on the books of the
Company with full power of substitution in the premises.

Dated:

                                            Signature:

                                            ELEX N.V.

                                            --------------------------------
                                            By:  Roland Duchatelet
                                            Its:  Chairman of the Board

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