Document:

Prepared by R.R. Donnelley Financial -- Advisory Agreement

 Exhibit 10.3 
  
 ADVISORY AGREEMENT 
  
 This Advisory Agreement (this “Agreement”) is made and entered into as of July 29, 2003 by and between NPTest Holding Corporation
(“Parent”), NPTest Acquisition Corporation (the “Company” and together with Parent, the “Companies”) and Francisco Partners GP, LLC (“Advisor”). Capitalized terms used but not defined
herein shall have the meanings assigned to such terms in the Stock Purchase and Sale Agreement dated as of June 24, 2003 (the “Purchase Agreement”) by and among Schlumberger Technology Corporation, Schlumberger Technologies, Inc.,
Schlumberger B.V. and the Companies. 
  
 WHEREAS, the Companies
desire to retain Advisor, and Advisor desires to perform certain services for the Companies and/or their subsidiaries; 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 
  
 1. Term. This Agreement shall be in effect for an initial term of ten (10) years commencing on the date hereof (the “Term”), and
shall be automatically extended thereafter on a year to year basis unless the Companies or Advisor provides written notice of termination of this Agreement to the other party at least 90 days prior to the expiration of the Term or any extension
thereof. 
  
 2. Services. Advisor shall perform or cause to
be performed such services for the Companies and/or their subsidiaries as directed by any Company’s board of directors, which may include, without limitation, the following: 
  
 (a) executive and management services; 
  
 (b) identification, support and analysis of acquisitions and dispositions by a Company or its subsidiaries; 
  
 (c) support and analysis of financing alternatives, including, without
limitation, in connection with acquisitions, capital expenditures and refinancing of existing indebtedness; 
  
 (d) finance functions, including assistance in the preparation of financial projections, and monitoring of compliance with financing agreements;

  
 (e) human resource functions, including searching and hiring
of executives; and 
  
 (f) other services for a Company or its
subsidiaries upon which such Company’s board of directors and Advisor agree. 

 Notwithstanding any provision in this Agreement to the contrary, each of the parties hereto acknowledges
and agrees that there are no minimum levels of services required to be provided to the Companies pursuant to this Agreement. 
  
 3. Advisory Fee. (a) General. Subject to the terms and conditions herein, payment for services rendered by Advisor and/or its affiliates
incurred in connection with the performance of services pursuant to this Agreement shall be billed on an hourly basis for actual services rendered (it being agreed that no minimum services levels shall be required), plus reasonable out-of-pocket
expenses incurred by Advisor and/or its affiliates, and such additional fees as may be agreed upon between Advisor and the Companies with respect to any particular service to be provided by Advisor. In lieu of the aforementioned fees and expenses,
Advisor and/or its affiliates shall have the right to collect an annual advisory fee (the “Advisory Fee”), the amount of which shall be the greater of (i) $2,000,000 per annum (the “Flat Fee”) or (ii) 0.6% per annum
of the annual consolidated revenue of the Companies and their subsidiaries (determined on a trailing twelve month basis) (the “Percentage Fee”), plus reasonable out-of-pocket expenses of Advisor and/or its affiliates. 
  
 (b) Adjustment. In the event that the Advisory Fee paid in any given
year pursuant to paragraph (a) above exceeds the greater of the Flat Fee or the Percentage Fee, the Advisor shall promptly repay to the Companies the difference between the greater of the Flat Fee or the Percentage Fee and the amount of the Advisory
Fee actually paid by the Companies during that year. In the event that the amount of the Advisory Fee paid by the Companies to the Advisor in any given year is less than the greater of the Flat Fee or the Percentage Fee, the Companies shall promptly
pay the difference between the amount of Advisory Fee actually paid to the Advisor and the greater of the Flat Fee or the Percentage Fee. 
  
 (c) Collection of Fee. The decision whether to collect any Advisory Fee in a given year shall be in the Advisor’s sole discretion. The
Advisor’s decision not to collect an Advisory Fee in any given year shall not be construed to be a waiver of the Advisor’s right to collect an Advisory Fee in any future year. 
  
 (d) Fee Calculation. All fees and expenses described in this section 3 shall be payable to Advisor or its designees
on a quarterly basis in advance (based on the parties’ estimate of the amount of fees and expenses which shall become due and payable for such quarter) commencing as of the date hereof. 
  
 4. Transaction Fees. The Companies hereby agree to pay to Advisor or
its designee on the Closing Date (as defined in the Purchase Agreement) upon the consummation of the transactions contemplated by the Purchase Agreement a fee for services rendered in connection with the structuring of the financing for the
transactions contemplated by the Purchase Agreement (the “Transactions”) and certain other management services in the amount of $6,000,000, plus reasonable out-of-pocket expenses. Such fees shall be payable to Advisor or its
designees by wire transfer to an account designated in writing by the Advisor. 
  

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 5. Personnel. Advisor shall provide and devote to the performance of this Agreement such partners,
employees and agents of Advisor as Advisor shall deem appropriate to the furnishing of the services required. 
  
 6. Liability. Neither Advisor nor any other Indemnitee (as defined in Section 7 below) shall be liable to any of the Companies or any of their
subsidiaries or affiliates for any loss, liability, damage or expense arising out of or in connection with the performance of services contemplated by this Agreement, unless such loss, liability, damage or expense shall be proven to result directly
from gross negligence, willful misconduct or bad faith on the part of an Indemnitee acting within the scope of such person’s employment or authority. Advisor makes no representations or warranties, express or implied, in respect of the services
to be provided by Advisor or any of the other Indemnitees. Except as Advisor may otherwise agree in writing after the date hereof: (i) Advisor shall have the right to, and shall have no duty (contractual or otherwise) not to, directly or indirectly:
(A) engage in the same or similar business activities or lines of business as any of the Companies or any of their subsidiaries, including those competing with any of the Companies or any of their subsidiaries and (B) do business with any client or
customer of any of the Companies or any of their subsidiaries; (ii) neither Advisor nor any officer, director, employee, partner, affiliate or associated entity thereof shall be liable to any of the Companies or any of their subsidiaries or
affiliates for breach of any duty (contractual or otherwise) by reason of any such activities of or of such person’s participation therein; and (iii) in the event that Advisor acquires knowledge of a potential transaction or matter that may be
a corporate opportunity for the Companies or any of their subsidiaries, on the one hand, and Advisor, on the other hand, or any other person, Advisor shall have no duty (contractual or otherwise) to communicate or present such corporate opportunity
to the Companies or any of their subsidiaries and, notwithstanding any provision of this Agreement to the contrary, shall not be liable to the Companies or any of their affiliates for breach of any duty (contractual or otherwise) by reasons of the
fact that Advisor directly or indirectly pursues or acquires such opportunity for itself, directs such opportunity to another person, or does not present such opportunity to the Companies. In no event will any of the parties hereto be liable to any
other party hereto for any indirect, special, incidental or consequential damages, including lost profits or savings, whether or not such damages are foreseeable, or in respect of any liabilities relating to any third party claims (whether based in
contract, tort or otherwise) other than the Claims (as defined in Section 7 below) relating to the service to be provided by Advisor hereunder. 
  
 7. Indemnity. Each of the Companies and their subsidiaries shall defend, indemnify and hold harmless each of Advisor, its affiliates, members,
partners, employees and agents (collectively, the “Indemnitees”) from and against any and all loss, liability, damage or expenses arising from any claim by any person with respect to, or in any way related to, the performance of
services contemplated by this Agreement (including attorneys’ fees) (collectively, “Claims”) resulting from any act or omission of any of the Indemnitees, other than for Claims which shall be proven to be the direct result of
gross negligence, bad faith or willful misconduct by an Indemnitee. Each of the Companies and their subsidiaries shall defend at its own cost and expense any and all suits or actions (just or unjust) which may be brought against such Company, any of
its 
  

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 subsidiaries or any of the Indemnitees or in which any of the Indemnitees may be impleaded with others upon any Claims,
or upon any matter, directly or indirectly, related to or arising out of this Agreement or the performance hereof by any of the Indemnitees, except that if such damage shall be proven to be the direct result of gross negligence, bad faith or willful
misconduct by an Indemnitee, then Advisor shall reimburse the Companies and their subsidiaries for the costs of defense and other costs incurred by the Companies and their subsidiaries. 
  
 8. Notices. All notices hereunder shall be in writing and shall be delivered personally or mailed by United States
mail, postage prepaid, addressed to the parties as follows: 
  
 To the Companies: 
  
 c/o NPTest, Inc. 
 150 Baytech Drive 
 San Jose, CA 95134 
 Attention: Chief Executive Officer 
 Facsimile: (408) 586-4661 
  
 To Advisor: 
  
 Francisco Partners GP, LLC 
 c/o Francisco Partners, L.P. 
 2882 Sand Hill Road, Suite 280 
 Attention: Gerry Morgan 
 Facsimile: (650) 233-2999 
  
 9. Assignment. The Companies may not assign any obligations hereunder to any other party without the prior written consent of Advisor (which
consent shall not be unreasonably withheld), and Advisor may not assign any Advisor obligations hereunder to any other party without the prior written consent of the Companies (which consent shall not be unreasonably withheld); provided that
Advisor may, without consent of the Companies, assign its rights and obligations under this Agreement to any Affiliate Fund (as such term is defined in the NPTest Holding, LLC Amended and Restated Limited Liability Company Agreement dated as of July
18, 2003). 
  
 10. Successors. This Agreement and all the
obligations and benefits hereunder shall inure to the successors and assigns of the parties. 
  
 11. Counterparts. This Agreement may be executed and delivered by each party hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original and all of which taken
together shall constitute but one and the same agreement. 
  
 12.
Entire Agreement; Modification; Governing Law. The terms and conditions hereof constitute the entire agreement between the parties hereto with respect to the subject matter of this Agreement and supersede all previous communications,

  

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 either oral or written, representations or warranties of any kind whatsoever, except as expressly set forth herein. No
modifications of this Agreement nor waiver of the terms or conditions thereof shall be binding upon either party unless approved in writing by an authorized representative of such party. This Agreement may not be amended in a manner materially
adverse to the Company and the Company may not waive any material provision of this Agreement that is for its benefit. All issues concerning this Agreement shall be governed by and construed in accordance with the laws of the State of California,
without giving effect to any choice of law or conflict of law provision or rule (whether of the State of California or any other jurisdiction) that would cause the application of the law of any jurisdiction other than the State of California.

  
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

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 IN WITNESS WHEREOF, the parties have executed this Advisory Agreement as of the date first written above.

  

	NPTEST HOLDING CORPORATION
		
	 By:
	 	 /s/    DIPANJAN DEB        

	 Name:
	 	Dipanjan Deb
	 Title:
	 	President

  

	NPTEST ACQUISITION CORPORATION
		
	 By:
	 	 /s/    DIPANJAN DEB        

	 Name:
	 	Dipanjan Deb
	 Title:
	 	President

  

	FRANCISCO PARTNERS GP, LLC
		
	 By:
	 	 /s/    DIPANJAN DEB        

	 Name:
	 	Dipanjan Deb
	 Title:
	 	Managing Member

  

 6Prepared by R.R. Donnelley Financial -- Employment Agreement - Ashok Belani

 Exhibit 10.4 
  
 EMPLOYMENT AGREEMENT 
  
 EMPLOYMENT AGREEMENT (“Agreement”) dated as of July 29, 2003 by and among NPTest Acquisition Corporation, a Delaware corporation
(together with its successors, the “Company”), NPTest Holding Corporation, a Delaware corporation (together with its successors, “Parent”), and Ashok Belani (“Executive”), to be effective as of the
Effective Date (certain capitalized terms used herein being defined in Article 7 hereof). 
  
 WHEREAS, pursuant to a Stock Purchase Agreement dated as of June 24, 2003 (the “Stock Purchase Agreement”), among Parent, the Company, and Schlumberger Technology Corporation, Schlumberger
Technologies, Inc., and Schlumberger B.V. (collectively, “Schlumberger”), the Company will purchase from Schlumberger 100% of the shares of NPTest, Inc. (the “US Company”) and of NPTest International Limited (the
“BVI Company”); 
  
 WHEREAS, Executive is
employed by the US Company or one of its affiliates; 
  
 WHEREAS,
each of the Company and Parent considers it in its best interests and the best interests of its stockholders to foster the continued employment of Executive from and after the Effective Date; 
  
 WHEREAS, Executive is willing to continue his employment on and after the
Effective Date on the terms hereinafter set forth in this Agreement; 
  
 NOW THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements of the parties set forth in this Agreement, and of other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as follows: 
  
 ARTICLE 1 
 POSITION; TERM OF AGREEMENT

  
 Section 1.01. Position. (a) As of and following the
Effective Date, Executive shall serve as President and Chief Executive Officer of the Company and shall report to the Board of Directors of the Company (the “Board”). 
  
 (b) As President and Chief Executive Officer, Executive shall have such duties and authority, consistent with such position,
as shall be determined from time to time by the Board. 
  
 (c)
During the Employment Term, Executive will devote substantially all of his business time to the performance of his duties under this Agreement and will not engage in any other business, profession or occupation for compensation 

 
or otherwise which would conflict with the rendition of such services either directly or indirectly, without the prior written consent of the Board;
provided that, so long as such service does not interfere with the performance of Executive’s duties hereunder, nothing herein shall be deemed to preclude Executive from serving on any civic or charitable board or, subject to the prior
written consent of the Board, on any other corporate board. 
  
 (d) The Company and Parent intend and agree to take all actions legally permitted to cause Executive to be a member of the Board so long as Executive is serving as Chief Executive Officer of the Company. 
  
 Section 1.02. Term. Executive shall be employed by the Company for a
period (the “Employment Term”) commencing on the Effective Date and, subject to earlier termination or extension as provided herein, ending on the fourth anniversary of the Effective Date; provided that on each anniversary of
the Effective Date beginning on such fourth anniversary, the Employment Term shall be automatically extended for successive one-year periods unless not later than one month prior to any such automatic extension the Company or Executive shall give
notice that the Employment Term shall not be extended. 
  
 ARTICLE
2 
 COMPENSATION AND BENEFITS 
  
 Section 2.01. Base Salary. Commencing on the Effective Date, the Company shall pay Executive an annual base salary
(the “Base Salary”) at the initial annual rate of $410,000, payable in accordance with the payroll and personnel practices of the Company from time to time. Executive shall be entitled to such increases in his Base Salary as may be
determined from time to time in the sole discretion of the Board. 
  
 Section 2.02. Performance Bonus. (a) Subject to Executive’s continued employment hereunder through December 31, 2003, Executive will be eligible to receive a bonus with a target bonus opportunity of 50% to 100% of the pro-rated
portion of Base Salary for the period from the Effective Date through December 31, 2003, based on attainment of such goals as the Board and Executive shall mutually determine. For each calendar year thereafter, subject to Executive’s continued
employment hereunder on December 31 of such year, Executive shall be eligible for an annual bonus (the “Annual Bonus”), with a target bonus opportunity of 50% to 100% of Base Salary, based on attainment of such goals as the Board
and Executive shall mutually determine each year. The Annual Bonus for each calendar year (including the bonus for the period ending December 31, 2003) shall be paid in a lump sum payment on or before March 31 of the following calendar year.

  
 (b) For the portion of the 2003 calendar year prior to the
Effective Date, Executive shall be eligible for a bonus based on the performance goals for 

  

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2003 previously determined by the US Company and Schlumberger and provided to the Company. 
  
 Section 2.03. Signing Bonus. Executive will receive an initial bonus of $1,000,000 (the “Signing
Bonus”) on the Effective Date; provided that (i) if Executive’s employment is terminated by Executive without Good Reason or by the Company for Cause prior to the first anniversary of the Effective Date, Executive agrees to
repay to the Company the full amount of the Signing Bonus, and (ii) if Executive’s employment is terminated by Executive without Good Reason or by the Company for Cause on or after such first anniversary but prior to the second anniversary of
the Effective Date, Executive agrees to repay to the Company $500,000 of the Signing Bonus. Executive agrees that the Company is entitled to withhold any such amount from any payments otherwise due to Executive upon such termination. 
  
 Section 2.04. Employee Benefits. (a) During the Employment Term,
Executive shall be eligible for employee benefits (including fringe benefits, vacation and health, accident and disability insurance, and retirement plan participation) substantially similar to those benefits made available generally to senior
executives of the Company. 
  
 (b) Until the earlier of (i) four
years from the Effective Date or (ii) any termination of Executive’s employment hereunder, provided such insurance is reasonably obtainable, the Company shall maintain in force, with Executive’s designated beneficiary, a life insurance
policy providing a benefit at Executive’s death of at least $5,000,000. 
  
 (c) During the term of Executive’s employment, the Company will provide Executive with long-term disability insurance, pursuant to which Executive would be eligible to receive benefits totaling the amount
Executive would have received upon a Qualifying Event under Section 3.02(a) and (b). 
  
 Section 2.05. Business And Travel Expenses. Reasonable travel, entertainment and other business expenses incurred by Executive in the performance of Executive’s duties hereunder shall be reimbursed by the
Company in accordance with Company policies as in effect from time to time. 
  
 Section 2.06. Options. (a) On or promptly after the Effective Date, the Company shall grant to Executive an option (the “Option”) to purchase 3,500,000 shares of common stock of Parent
(“Common Stock”), at an exercise price per share equal to the fair market value (determined in accordance with the terms of the Plan) of a share of Common Stock on the grant date. 
  
 (b) Subject to Executive’s continued employment with the Company or one
of its Affiliates as of the applicable vesting date, (i) 25% of the shares constituting the Option shall become vested and exercisable on the first anniversary of the Effective Date, and (ii) thereafter, the Option shall become 

  

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vested and exercisable at a rate of 1/48 of the shares constituting the Option per month. 
  
 (c) Prior to an initial public offering of the Company or Parent, in the event of the sale of a substantial portion of the
assets of the Company as a result of which NPTest Holding LLC (“NPT LLC”) distributes to any of its members any consideration received upon such merger or sale (the “Distributed Consideration”), then a portion of
the Option shall become fully vested and exercisable in an amount equal to (i) the then unvested portion of the Option multiplied by (ii) the fraction obtained by dividing the Distributed Consideration by $158,000,000. 
  
 (d) Except as set forth herein, the Options shall otherwise be subject to the
terms of the Parent Stock Incentive Plan (the “Plan”), a copy of which is attached hereto as Attachment 1. 
  
 (e) Upon termination of Executive’s employment, subject to Section 3.02 hereof, the Company shall have the right to repurchase the shares of Common
Stock acquired upon exercise of the Option in accordance with the terms of the Plan and the applicable award agreement. 
  
 ARTICLE 3 
 CERTAIN
TERMINATION BENEFITS 
  
 Section
3.01. Certain Events. (a) A “Qualifying Event” means the termination of Executive’s employment by the Company without Cause (other than by reason of Executive’s death or disability) or by Executive for Good Reason.

  
 (b) Each party hereto shall give to the other party 30 days
prior written notice of such party’s intent to terminate Executive’s employment with the Company for any reason. 
  
 (c) The receipt of any payments and benefits pursuant to this Article 3 by Executive shall be contingent upon Executive signing a release of claims
arising from Executive’s employment and the termination thereof in a form reasonably acceptable to the Company. 
  
 Section 3.02. Benefits Upon A Qualifying Event. In the event of a Qualifying Event during the Employment Term, Executive shall be entitled to the
following benefits: 
  
 (a) The Company shall pay
Executive as soon as practicable a lump sum, in cash, equal to one times the annual Base Salary in effect as of the Effective Date. 
  

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 (b) On the first anniversary of the Qualifying Event and subject to Executive’s
compliance with the covenants set forth in Section 4.01 hereof, the Company shall pay Executive a lump sum, in cash, equal to one times the annual Base Salary in effect as of the Effective Date. 
  
 (c) In the event that Executive is terminated without Cause
by the Company, Executive will be entitled to receive the amount, if any, that would have been paid to Executive pursuant to Section 3.03(b) as if such termination occurred after the fourth anniversary of the Effective Date. 
  
 Section 3.03. Separation Benefits. In the event of any termination of
employment during the Employment Term (including a Qualifying Event), Executive (or his estate, as the case may be) shall be entitled to the benefits set forth below: 
  
 (a) The Company shall pay Executive as soon as practicable a lump sum, in cash, equal to Executive’s
earned but unpaid Base Salary for the period through and including the date of termination of Executive’s employment (collectively, “Accrued Compensation”). In addition, Executive shall be entitled to any other vested benefits
earned by Executive for the period through and including the date of termination of Executive’s employment under any other employee benefit plans and arrangements maintained by the Company, in accordance with the terms of such plans and
arrangements, except as modified herein (collectively, “Accrued Benefits”). 
  
 (b) If the termination occurs after the second anniversary of the Effective Date, the Company shall pay to Executive the amount, if any,
by which the Minimum Amount exceeds the Equity Value. “Equity Value” means an amount equal to (x) the aggregate fair market value of the then vested shares subject to the Option (including any shares held by Executive that were
acquired on exercise of any portion of the Option) plus (y) the gross proceeds received by Executive upon the sale of any shares acquired on exercise of any portion of the Option minus (z) the aggregate exercise price of the then vested portion of
the Option (including the exercise price of any shares previously acquired on exercise of any portion of the Option). The “Minimum Amount” shall mean either (i) $1,500,000 if the termination occurs after the second anniversary, but
on or prior to the fourth anniversary, of the Effective Date, or (ii) $3,000,000 if the termination occurs after the fourth anniversary of the Effective Date. 
  

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 Section 3.04. Change in Control Termination. In the event of either (a) a Qualifying Event within
12 months following a Change in Control or (b) a Change in Control where the counterparty is LTX Corporation or Credence Systems, Executive shall be entitled to the following benefits: 
  
 (i) Any unvested portion of the Option shall become fully vested and exercisable. 
  
 (ii) Executive will be entitled to receive the amount, if
any, that would have been paid to Executive pursuant to Section 3.03(b) as if such termination occurred after the fourth anniversary of the Effective Date. 
  
 ARTICLE 4 
 COVENANTS
AND REPRESENTATIONS 
  
 Section
4.01. Nondisclosure, Noncompetition, Nonsolicitation, and Nondisparagement. (a) Executive shall not (except to the extent required by an order of a court having competent jurisdiction or under subpoena from an appropriate government agency)
disclose to any third person, whether during or subsequent to the Executive’s employment with the Company, any trade secrets; customer lists; provider lists; product development and related information; marketing plans and related information;
sales plans and related information; premium or any other pricing information; operating policies and manuals; research; payment rates; methodologies; contractual forms; business plans; financial records; or other financial, commercial, business or
technical information related to the Company or any Affiliate of the Company unless such information has been previously disclosed to the public by the Company or has become public knowledge other than by a breach of this Agreement; provided
that this limitation shall not apply to any such disclosure made while the Executive is employed by the Company or its Affiliate if such disclosure occurred in connection with the performance of Executive’s job as an employee of the Company or
its Affiliates. Executive agrees that upon termination of Executive’s employment with the Company for any reason, Executive will return to the Company immediately all memoranda, books, papers, plans, information, letters and other data, and all
copies thereof or therefrom, in any way relating to the business of the Company or its Affiliates. Executive further agrees that Executive will not retain or use for Executive’s account at any time any trade names, trademark or other
proprietary business designation used or owned in connection with the business of the Company or its Affiliates. 
  
 (b) While employed by the Company, Executive shall not, on his account, or as an employee, consultant, independent contractor, partner, owner, officer,
director or stockholder, engage in, be connected with, have any interest in, or aid or assist anyone else to engage in, be connected with, or have any interest in, any firm or person which directly competes with a line or lines of business which the
Company or Parent (or any of their Subsidiaries) was engaged in or sought to be engaged in during the Employment Term; provided that Executive may purchase securities in any corporation whose securities are listed or traded on a national
securities exchange or in an over-the-counter securities market if such 

  

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purchases do not result in Executive beneficially owning, directly or indirectly, at any time 5% or more of the equity securities of any such corporation.

  
 (c) While employed by the Company and for 24 months after the
termination of Executive’s employment, Executive shall not, directly or indirectly: 
  
 (i) induce or attempt to induce any employee of Parent or the Company (or any Subsidiary of Parent or the Company) to be employed or
perform services elsewhere; 
  
 (ii) solicit or
attempt to solicit the trade of any individual or entity which, at the time of such solicitation, is a customer of Parent or the Company (or any Subsidiary of Parent or the Company) or which Parent or the Company (or any Subsidiary of Parent or the
Company) is undertaking reasonable steps to procure as a customer at the time of or immediately preceding termination of employment; provided, however, that this limitation shall only apply to any product or service which is in
competition with a product or service of Parent or the Company (or any Subsidiary of Parent or the Company). 
  
 (d) In connection with the termination of Executive’s employment hereunder, Executive shall cooperate with the Company and any Affiliate of the
Company to ensure an orderly transition, in such a manner and at such times as the Company shall reasonably request. 
  
 (e) Except as required by law, neither party will at any time (whether during or after termination of Executive’s employment with the Company)
knowingly make any statement, written or oral, or take any other action that would disparage or otherwise harm the other party, its business or reputation or, in the case of the Company, the reputation of any of its Affiliates or the officers and
directors of any of them. 
  
 Section 4.02. Material
Inducement; Specific Performance. (a) If any provision of Section 4.01 is determined by a court of competent jurisdiction not to be enforceable in the manner set forth in this Agreement, the Company and Executive agree that it is the intention
of the parties that such provision should be enforceable to the maximum extent possible under applicable law and that such court shall reform such provision to make it enforceable in accordance with the intent of the parties. 
  
 (b) Executive acknowledges that a material part of the inducement for the
Company to provide the compensation provided herein is Executive’s covenants set forth in Section 4.01 and that the covenants and obligations of Executive with respect to noncompetition, nondisclosure and nonsolicitation relate to special,
unique and extraordinary matters and that a violation of any of the terms of such covenants and obligations will cause the Company irreparable 

  

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injury for which adequate remedies are not available at law. Therefore, Executive agrees that, if Executive shall materially breach any of those covenants
during or following termination of employment, the Company shall be entitled to an injunction, restraining order or such other equitable relief (without the requirement to post a bond) restraining Executive from committing any violation of the
covenants and obligations contained in Section 4.01 and the Company shall have no further obligation to pay Executive any benefits otherwise payable hereunder. The remedies in the preceding sentence are cumulative and are in addition to any other
rights and remedies the Company may have at law or in equity as an arbitrator (or court) shall reasonably determine. 
  
 Section 4.03. Employee Representation. Executive expressly represents and warrants to the Company that Executive is not a party to any contract or
agreement and is not otherwise obligated in any way, and is not subject to any rules or regulations, whether governmentally imposed or otherwise, which will or may restrict in any way Executive’s ability to fully perform Executive’s duties
and responsibilities under this Agreement. 
  
 ARTICLE 5

 SUCCESSORS AND ASSIGNMENTS 
  
 Section 5.01. Assignments. Except for an assignment in the event of a Change in Control or an assignment to an
Affiliate of the Company, this Agreement shall not be assignable by the Company without the written consent of Executive. This Agreement shall not be assignable by Executive. 
  
 Section 5.02. Successors; Binding Agreement. This Agreement shall inure to the benefit of and be binding upon
personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees, and legatees. 
  
 ARTICLE 6 
 MISCELLANEOUS

  
 Section 6.01. Notices. Any notice required to be
delivered hereunder shall be in writing and shall be addressed: 
  

	 	(i)	 	if to the Company, to: 

  
 NPTest Acquisition Corporation 
 2882 Sand Hill Road, Suite 280 
 Menlo Park, California 94025 
 Attention: Benjamin Ball 
 Fax: (650) 233-2999 
  

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 with copies to: 
  
 Davis Polk & Wardwell 
 1600 El Camino Real 
 Menlo Park, CA 94025 
 Tel: 650-752-2000 
 Fax: 650-752-2111 
 Attn: David W. Ferguson 
  

	 	(ii)	 	if to Executive, to Executive’s last known address as reflected on the books and records of the Company; 

  
 or, in each case, to such other address as such party may hereafter specify for the purpose
by written notice to the other party hereto. Any such notice shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a business day in the place of receipt.
Otherwise, any such notice shall be deemed not to have been received until the next succeeding business day in the place of receipt. 
  
 Section 6.02. Dispute Resolution. (a) Except as provided in Section 4.02, each of Executive and the Company shall have the right and option to
elect (in lieu of litigation) to have any dispute or controversy arising under or in connection with this Agreement settled by arbitration in a location in California, in accordance with the rules of the American Arbitration Association then in
effect. Executive’s election to arbitrate, as herein provided, and the decision of the arbitrator in that proceeding, shall be binding on the Company and Executive. Judgment may be entered on the award of the arbitrator in any court having
jurisdiction. 
  
 (b) Each party shall pay its own expenses of
such arbitration or litigation and all common expenses of such arbitration or litigation shall be borne equally by Executive and the Company. Each party to an arbitration or litigation hereunder shall be responsible for the payment of its own
attorneys’ fees. 
  
 Section 6.03. Unfunded Agreement.
The obligations of the Company under this Agreement represent an unsecured, unfunded promise to pay benefits to Executive and/or Executive’s beneficiaries, and shall not entitle Executive or such beneficiaries to a preferential claim to any
asset of the Company. 
  
 Section 6.04. Non-exclusivity Of
Benefits. Unless specifically provided herein, neither the provisions of this Agreement nor the benefits provided hereunder shall reduce any amounts otherwise payable, or in any way diminish Executive’s rights as an employee of the Company,
whether existing now or hereafter, under any compensation and/or benefit plans (qualified or nonqualified), programs, policies, or practices provided by the Company, for which Executive may qualify; provided, however, that the
Severance Benefits shall be in lieu of any severance benefits under any such plans, programs, policies 

  

 9 

 
or practices. Vested benefits or other amounts which Executive is otherwise entitled to receive under any plan, policy, practice, or program of the Company
(i.e., including, but not limited to, vested benefits under any qualified or nonqualified retirement plan), at or subsequent to the date of termination of Executive’s employment shall be payable in accordance with such plan, policy, practice,
or program except as expressly modified by this Agreement. 
  
 Section 6.05. Employment Status. Nothing herein contained shall interfere with the Company’s right to terminate Executive’s employment with the Company at any time, with or without Cause, subject to the Company’s
obligation to provide benefits pursuant to Article 3, if any. Executive shall also have the right to terminate Executive’s employment with the Company at any time without liability, subject only to the provisions hereof and Executive’s
obligations hereunder. 
  
 Section 6.06. Entire Agreement.
This Agreement represents the entire agreement between Executive and the Company and its Affiliates with respect to Executive’s employment and/or severance rights, and supersedes all prior discussions, negotiations, and agreements
concerning such rights; provided, however, that any amounts payable to Executive hereunder shall be reduced by any amounts paid to Executive as required by any applicable law in connection with any termination of Executive’s
employment. 
  
 Section 6.07. Tax Withholding.
Notwithstanding anything in this Agreement to the contrary, the Company shall withhold from any amounts payable under this Agreement all federal, state, city, or other taxes as are legally required to be withheld. 
  
 Section 6.08. Waiver Of Rights. The waiver by either party of a breach
of any provision of this Agreement shall not operate or be construed as a continuing waiver or as a consent to or waiver of any subsequent breach hereof. 
  
 Section 6.09. Severability. In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality or
invalidity shall not affect the remaining parts of this Agreement, and this Agreement shall be construed and enforced as if the illegal or invalid provision had not been included. 
  
 Section 6.10. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the
State of California without reference to principles of conflict of laws. 
  
 Section 6.11. Counterparts. This Agreement may be signed in several counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were on the same instrument.

  

 10 

 ARTICLE 7 
 DEFINITIONS 
  
 For
purposes of this Agreement, the following terms shall have the meanings set forth below. 
  
 “Accrued Benefits” has the meaning accorded such term in Section 3.03. 
  
 “Accrued Compensation” has the meaning accorded such term in Section 3.03. 
  
 “Affiliate” has the meaning accorded to such term in Rule 12b-2 under the Exchange Act. 
  
 “Agreement” has the meaning accorded such term in the
introductory paragraph of this Agreement. 
  
 “Base
Salary” has the meaning accorded such term in Section 2.01. 
  
 “Beneficial Ownership” A Person shall be deemed the “Beneficial Owner” of, and shall be deemed to “beneficially own,” securities pursuant to Rule 13d-3 under the Exchange Act. 
  
 “Board” has the meaning accorded such term in Section 1.01
of this Agreement. 
  
 “Cause” means the
occurrence of any one or more of the following: 
  
 (i) Executive’s willful and continued failure substantially to perform the duties of Executive’s position as then in effect (other than as a result of incapacity due to physical or mental illness) which failure is not remedied
within 15 business days of written notice from the Company; 
  
 (ii) Executive’s gross negligence or willful malfeasance in the performance of Executive’s duties hereunder as then in effect; 
  
 (iii) Executive’s material breach of any of the covenants contained in Section 4.01; or 
  
 (iv) Executive’s commission of an act constituting
fraud, embezzlement, or any other act constituting a felony. 
  
 For purposes of
this definition, no act or failure to act shall be deemed “willful” unless effected by Executive not in good faith and without reasonable belief that such action or failure to act was in the best interests of the Company. 
  

 11 

 “Change in Control” means the occurrence of any of the following: 
  
 (i) the consummation of a merger or consolidation of the
Company or Parent with or into any other entity pursuant to which the direct or indirect stockholders of the Company or Parent, as applicable, immediately prior to such merger or consolidation hold, directly or indirectly, less than 50% of the
voting power of the surviving entity; 
  
 (ii)
the sale or other disposition of all or substantially all of the Company’s or Parent’s assets; or 
  
 (iii) any acquisition by any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange
Act and other than the direct and indirect stockholders of the Company immediately after the Effective Date) of the Beneficial Ownership of 50% or more of the voting power of the Company’s or Parent’s equity securities in a single
transaction or series of related transactions, other than in an underwritten public offering of the securities of the Company or its Affiliates; 
  
 provided that a transaction shall not constitute a “Change in Control” if its sole purpose is to change the state of the Company’s or Parent’s
incorporation or to create a holding company that will be owned in substantially the same proportions by the persons who, directly or indirectly, held the securities of the Company or Parent, as applicable, immediately before such transaction.

  
 “Code” means the Internal Revenue Code of
1986, as amended. 
  
 “Effective Date” means the
closing date of the transactions under the Stock Purchase Agreement. 
  
 “Employment Term” has the meaning accorded such term in Section 1.02. 
  
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
  
 “Good Reason” means the occurrence of any of the following without Executive’s written consent:

  
 (i) Any change in Executive’s title or
position that constitutes a material diminution in authority as compared to the authority of his title or position as of the Effective Date, or any substantial diminution in Executive’s duties and responsibilities (other than a change due to
Executive’s disability); 
  

 12 

 (ii) Any refusal or failure by the Company to pay compensation or provide benefits in
accordance with this Agreement; or 
  
 (iii) Any
relocation of Executive’s office or the Company’s principal executive office to a location more than 50 miles from its location on the Effective Date; 
  

provided, however, that no act or failure to act by the Company shall give rise to “Good Reason” if cured within 30 days of written notice by
Executive to the Company. 
  
 “Option” has the
meaning accorded such term in Section 2.05. 
  
 “Person” means an individual, corporation, partnership, association, trust or any other entity or organization. 
  
 “Qualifying Event” has the meaning accorded such term in Section 3.01. 
  
 “Securities Act” means the Securities Act of 1933, as amended. 
  
 “Subsidiary” of any Person means any other Person of which
securities or other ownership interests having voting power to elect a majority of the board of directors or other Persons performing similar functions are at the time directly or indirectly owned by such Person. 
  

 13 

 IN WITNESS WHEREOF, the Company, Parent and Executive have executed this Agreement, to be effective as of
the day and year first written above. 
  

	 NPTEST ACQUISITION CORPORATION

		
	 By:
	 	 /s/    BENJAMIN H. BALL        

	 Name:
	 	Benjamin H. Ball
	 Title:
	 	 Secretary

	
	 NPTEST HOLDING CORPORATION

		
	 By:
	 	 /s/    BENJAMIN H. BALL        

	 Name:
	 	Benjamin H. Ball
	 Title:
	 	 Secretary

	
	 EXECUTIVE:

	
	 /s/    ASHOK
BELANI        

	 ASHOK BELANI

  

 14

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