Document:

exv10w39

 

Exhibit 10.39

SEPARATION AGREEMENT AND RELEASE OF ALL CLAIMS

     This Separation Agreement and Release of All Claims (“Agreement and Release”) is intended to
constitute a binding agreement between you, Warren C. Kocmond (“Employee”), and Asyst Technologies,
Inc., on behalf of its subsidiary and affiliated entities (“Asyst” or the “Company”). Please
review the terms carefully. By signing below, you are agreeing to end your employment relationship
with Asyst on the terms identified below, and in return for the benefits provided herein. We
advise you to consult with an attorney or other advisor concerning its terms and obligations, and
the specific effect on your legal rights. This Agreement and Release is deemed effective as of May
31, 2006 (the “Effective Date”).

     1. Your employment with Asyst shall terminate on May 31, 2006. You understand you have no
recall rights.

     2. You and Asyst agree that this Agreement and Release is contractual in nature and not a mere
recital, and that this Agreement and Release shall be interpreted as though drafted jointly by the
Employee and Asyst.

     3. You will be paid your earned salary and accrued PTO pay through May 31, 2006. You
understand that, except as provided herein, you will not be entitled to any additional payments,
severance or other benefits from Asyst associated with any claimed work or right to work beyond the
date of your termination. It is agreed that, provided you observe all of your obligations to
Asyst, between the time you sign this Agreement and Release and your employment termination date of
May 31, 2006, you may seek and accept, but not commence other employment.

     4. Unless to the extent expressly otherwise provided for in Paragraph 8, below, in conjunction
with your execution of this Agreement and Release, if you have existing stock options or grants,
they will continue to vest through May 31, 2006; however, your vesting shall cease automatically as
of that date, and all such vesting shall be subject to the original terms and conditions of your
option grant and the Asyst stock option plan from which the grant issued. Unless and to the extent
expressly otherwise provided for in Paragraph 8, below, in conjunction with your execution of this
Agreement and Release, nothing herein shall operate to continue vesting, extend the original term
of the options granted to you or abridge Asyst’s rights to cancel options or repurchase shares, as
provided in such option or stock grant or the Asyst stock option plan from which the grant issued.
Your participation in Asyst’s Employee Stock Purchase Plan will also automatically cease as of May
31, 2006. Please refer to the plan terms and conditions. Additional information regarding stock
options is available. Contact Stock Administration at 520-661-5201 for additional information.

     5. Your health and employee benefits will terminate effective May 31, 2006, except to the
extent expressly provided in this Agreement and Release.

     6. During the course of your employment with Asyst, you have had access to or have had
possession of confidential and proprietary information or materials of Asyst (including, but not
limited to, technical information, business plans, client, supplier and employee information,
telephone records or lists, and non-public financial information). You acknowledge and understand
that all such information or material constitutes confidential information of Asyst and/or its
customers and affiliates; you agree that you shall not retain and that you must return to Asyst all
originals and copies of such material. You further agree that you shall not use, disclose or
divulge any such material or other confidential or trade secret information of Asyst, its customers
or affiliates to any third party company, individual or institution without the direct written
authorization of Asyst’s C.E.O., and that your confidentiality obligations to Asyst are continuing
into the future regardless of termination of your employment.

     7. Unless to the extent expressly otherwise provided for in Paragraph 8 below, you also agree
to return promptly all property of Asyst, including pagers, cellular phones, PDAs and any other
materials or

 

 

equipment in your possession or which were provided to you by or through Asyst. You further
understand that any use of credit or telephone cards, cellular phones, pagers, PDAs, and other
materials or equipment provided to you by or through Asyst will not be authorized beyond your
termination date, and any expenses incurred after your termination date will not be eligible for
reimbursement.

     8. In addition to the benefits described above, and upon and in consideration of your
acceptance, execution and continued observance of the terms and conditions of this Agreement and
Release, the following releases, the Agreement to Arbitrate Disputes and Claims, and the
Confidential Information and Inventions Assignment Agreement you may have executed previously in
conjunction with your employment with Asyst, which terms and conditions are incorporated herein by
this reference and made a material part of this Agreement and Release, and without further
obligation to do so, Asyst agrees to provide you the following additional separation benefits:

     (a) a lump sum payment equivalent to $200,000.00, less payroll and other deductions and
withholdings (including deductions required to reimburse Asyst for monies previously
extended to you as an Asyst employee). These payments and benefits will be made on next
Asyst regular pay-day following May 31, 2006; and

     (b) accelerated vesting in full as of May 31, 2006 of the 10,000 remaining shares of
restricted stock under that certain award issued on May 16, 2005 (Award No. 6621).

     9. The terms and conditions of this Agreement and Release supersede and fully replace the
terms of your corrected offer letter, executed on May 26, 2004, and your change of control
agreement, executed on April 10, 2004. However, your indemnification agreement and all other
obligations identified and incorporated herein with Asyst shall survive the termination of your
employment with Asyst.

     10. You hereby fully waive, release and discharge Asyst, its parent, subsidiary and affiliated
entities, and the shareholders, directors, officers, employees, agents and representatives of each
(the “Released Parties”) from, and agree never to assert against any of the Released Parties any
and all claims, liabilities, charges and causes of action of any kind whatsoever which you have,
had or may have against them as of the date on which you sign this Agreement, including without
limitation any and all claims, liabilities, charges and causes of action relating to:

	 	(a)	 	your employment, termination of employment or any right,
expectation, claim or benefit relating to or arising in any manner from your
employment;
	 
	 	(b)	 	any and all rights or claims relating to or in any manner arising
under the California Fair Employment and Housing Act (Government Code section
12900 et seq., as amended);
	 
	 	(c)	 	any and all rights or claims relating to or in any manner arising
under the Civil Rights Act of 1964 (42 U.S.C. 2000, et seq., as amended);
	 
	 	(d)	 	any and all rights or claims relating to or in any manner arising
under the Americans with Disabilities Act (29 U.S.C. 706 et seq., as amended);
	 
	 	(e)	 	any and all rights or claims relating to or in any manner arising
under the Age Discrimination in Employment Act of 1967 (29 U.S.C. 621 et seq.,
as amended);
	 
	 	(f)	 	any and all rights or claims relating to or in any manner arising
under the WARN Act (as amended), and any comparable provisions of California or
other applicable law;
	 
	 	(g)	 	any and all rights or claims relating to or in any manner arising
under the Equal Pay Act of 1963 (as amended);

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	 	(h)	 	any and all rights or claims relating to or in any manner arising
under the California Labor Code Section 1197.5 (as amended); and
	 
	 	(i)	 	any and all rights or claims otherwise relating to or in any
manner arising under federal, state or local statutory, administrative or common
law or regulation, including claims for wrongful termination or constructive
discharge or demotion, breach of contract (written, oral or implied), breach of
the covenant of good faith and fair dealing, violation of public policy,
infliction of emotional distress, personal injury, defamation and
misrepresentation.

     11. Asyst hereby fully waives, releases and discharges you from, and agrees never to assert
against you, any and all claims, liabilities, charges and causes of action of any kind whatsoever
which Asyst has, had or may have against you as of the date on which you sign this Agreement,
provided, however, that nothing in this Paragraph 11 shall preclude Asyst from enforcing its rights
with respect to your obligations under the terms and conditions listed in the first sentence of
Paragraph 8 of this Agreement and Release.

     12. Each party waives his or its rights under section 1542 of the Civil Code of California, or
other comparable provision of applicable law, which states:

A general release does not extend to claims which the creditor does not
know or suspect to exist in his favor at the time of executing the
release, which if known to him must have materially affected his
settlement with the debtor.

     13. This Agreement and Release shall not affect any waiver or release of any claim for
workers’ compensation benefits and unemployment insurance benefits.

     14. You understand, represent and agree that:

	 	(a)	 	you have had a reasonable opportunity to consider this Agreement
and Release and to consult an attorney or other advisor before signing this
Agreement and Release;
	 
	 	(b)	 	you have read this Agreement and Release in full and understand
all of the terms and conditions set forth herein;
	 
	 	(c)	 	you knowingly and voluntarily agree to all of the terms and
conditions set forth herein and intend to be legally bound by them;
	 
	 	(d)	 	you may rescind this Agreement and Release only with respect to
claims arising under the Age Discrimination in Employment Act of 1967 (29 U.S.C.
621 et seq.) and only if you do so within seven (7) days after signing it (in
which case you will forfeit in full and agree immediately to refund, return to
and reimburse Asyst any and all benefits provided to you under Paragraph 8,
above); and
	 
	 	(e)	 	this Agreement and Release will not become effective or
enforceable with respect to claims arising under the Age Discrimination in
Employment Act of 1967 (29 U.S.C. 621 et seq.) until seven (7) days after you
have signed it.

     15. You represent that you have not filed any complaints, claims, grievances or actions
against Asyst, its parent, subsidiary and affiliated entities, and the shareholders, directors,
officers, employees, agents and representatives of each, or any other of the Released Parties in
any state, federal or local court or agency, and you covenant not to file any such complaints,
claims, grievances, or actions (other than for workers’ compensation benefits, unemployment
insurance benefits or otherwise not subject to by law to your waiver or releases herein) at any
time hereafter. You hereby grant power of attorney to Asyst to dismiss on your behalf any such
complaint, claim grievance or action you filed in violation of this Paragraph. Notwithstanding the
foregoing, you acknowledge and agree that in the event you successfully assert any claim against
Asyst,

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despite the waivers, releases and other representations provided in this Agreement and
Release, that an amount equal to any and all benefits provided to you under Paragraph 8, above, may
and shall be off-set and deducted from any recovery from such claim.

     16. Asyst represents that it has not filed any complaints, claims, grievances or actions
against you in any state, federal or local court or agency, and Asyst covenants not to file any
such complaints, claims, grievances, or actions at any time hereafter with respect to the claims
released by Asyst hereunder. Asyst hereby grants power of attorney to you to dismiss on Asyst’s
behalf any such complaint, claim grievance or action Asyst filed in violation of this Paragraph.

     17. You agree not to defame, disparage or criticize Asyst or its shareholders, directors,
officers, employees or business or employment practices at any time. In addition, you agree not to
engage in any conduct that you know or reasonably should know will damage the reputation of Asyst
or cause third parties to view Asyst or its shareholders, directors, officers or employees in a
less favorable light.

     18. You agree to not to disclose the existence of this Agreement and Release, its terms, or
any information relating to this Agreement and Release to anyone other than your spouse (if any),
tax preparer, accountant, attorney and other professional adviser or party to whom disclosure is
necessary in order to comply with the law. In such event, you will instruct them to maintain the
confidentiality of this Agreement and Release just as you must.

     19. The parties agree that this Agreement and Release shall be binding upon their successors
and assignees. Each represents that it has not transferred to any person or entity any of the
rights released or transferred through this Agreement.

     20. If a court of competent jurisdiction declares or determines that any provision of this
Agreement and Release is invalid, illegal or unenforceable, the invalid, illegal or unenforceable
provision(s) shall be deemed not a part of this Agreement, but the remaining provisions shall
continue in full force and effect.

     21. Each party, upon breach of this Agreement and Release by the other, shall have the right
to seek all necessary and proper relief, including, but not limited to, specific performance, from
a court of competent jurisdiction

     22. Each party agrees that any differences, disputes or controversies between us arising from
this Agreement and Release or from rights or obligations hereunder, or any liabilities asserted or
arising from your employment or its termination, shall be exclusively submitted to binding
arbitration before an independent and qualified arbitrator in accordance with the American
Arbitration Association and the National Rules for the Resolution of Employment Disputes then in
effect, without reference to conflict of laws principles. Arbitration shall be the exclusive forum
for any dispute, claim or cause arising hereunder, or any liabilities asserted or arising from your
employment or its termination, and the decision and award by the arbitrator shall be final and
binding upon, and non-appealable by, the parties and may be entered in any state or federal court
having jurisdiction. In all other respects, the arbitration shall be subject to the terms and
conditions provided in the Agreement to Arbitrate Disputes and Claims (if previously or
contemporaneously executed by you and Asyst), which said terms and conditions are deemed
incorporated in his Agreement and Release in full by this reference and made a material part
hereof.

     23. Neither you nor Asyst shall be able to recover from the other, for any claim, cause or
action arising hereunder, any incidental, special, consequential or exemplary damages of any
nature, including but not limited to punitive damages, or attorneys fees or costs incurred in any
such claim, cause or action, unless and to the extent any such award of damages, fees or costs is
specifically provided and available to the party as a remedy under the statute asserted as a basis
for the claim, cause or action, and, unless so specifically provided, the court or arbitrator in
any such claim, cause or action shall be without authority or jurisdiction to award such damages
fees or costs; provided, however, that provisional or injunctive remedies and relief shall be
available as appropriate to each party.

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     24. We each, to the fullest extent permitted by law, waive any right or expectation against
the other to trial or adjudication by a jury of any claim, cause or action arising hereunder or
from the rights, duties or liabilities created hereby.

     25. The laws of the State of California shall govern the construction and enforcement of this
Agreement and Release and any rights, obligations or liabilities hereunder, without regard to
conflicts of laws considerations.

     26. You certify and confirm that you do not have in your possession, and that you have
returned to Asyst as of termination of your employment, all property, devices, records, data,
notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches,
materials equipment, other documents or property, or reproductions of any aforementioned items
belonging to Asyst.

     27. You also certify and confirm that you have complied during your employment with all the
terms of Asyst’s Confidential Information and Inventions Assignment Agreement in the event
previously signed by you, including the reporting of any inventions and original works of
authorship (as defined therein), conceived or made by you (solely or jointly with others) covered
by that agreement. You further agree that you will continue to be required to preserve as
confidential all trade secrets, confidential knowledge, data or other proprietary information
relating to services, clients, products, processes, know-how, designs, formulas, developmental or
experimental work, computer programs, data bases, other original works of authorship, customer
lists, business plans, financial information or other subject matter pertaining to any business of
Asyst or any of its employees, clients, consultants or licensees.

     28. You further agree that for the six (6) month period from the date of termination of your
employment or consulting relationship with Asyst, you will not recruit or solicit any employee to
leave Asyst for any reason or to accept employment with any other company, and will not interview
or knowingly provide any assistance or input to any third party regarding any such employee.

     29. To accept this Agreement and Release, please sign and date this Agreement and Release and
return the original executed document to Human Resources, Asyst Technologies, Inc., 46897 Bayside
Parkway, Fremont, California 94538, no later than May 15, 2006. If you do not return a copy of the
executed Agreement and Release by that date, the offer of the benefits described in Paragraph 8 and
elsewhere of this Agreement and Release will be automatically deemed revoked.

     30. You understand that the provisions of this Agreement and Release set forth the entire
agreement between you and Asyst concerning your employment, separation benefits and termination of
employment, and that this Agreement and Release replaces any other promises, representations or
agreement between you and Asyst, whether written or oral, concerning such matters. You also
understand that any benefits provided you under this Agreement and Release are offered on a
one-time basis, and are not a part of a funded employee welfare program or established Asyst
practice or policy. Any modification of this Agreement and Release, or change to the benefits
offered hereunder, must be in writing and executed in advance by you and the Vice President, Human
Resources for Asyst, or else such notification will not be binding or effective.

     31. In the event that you breach any of your obligations under this Agreement and Release or
as otherwise imposed by law, Asyst will be entitled to recover the sums and benefits paid under the
Agreement and Release and to obtain all other relief provided by law or equity.

     32. The parties agree and represent that they have not relied and do not rely upon any
representation or statement regarding the subject matter or effect of this Agreement and Release
made by any other party to this Agreement and Release or any party’s agents, attorneys or
representatives.

I, THE UNDERSIGNED, HAVE HAD A SUFFICIENT OPPORTUNITY TO CONSIDER THIS AGREEMENT AND RELEASE AND
HAVE BEEN ADVISED IN WRITING THAT I MAY CONSULT
WITH AN ATTORNEY CONCERNING ITS TERMS AND EFFECT PRIOR TO EXECUTING THIS AGREEMENT AND RELEASE.

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I, THE UNDERSIGNED, HAVE READ THIS AGREEMENT AND RELEASE AND UNDERSTAND THAT I ENTER THIS AGREEMENT
AND RELEASE INTENDING TO AND DO WAIVE, SETTLE AND RELEASE ALL CLAIMS I HAVE OR MIGHT HAVE AGAINST
ASYST TO THE FULL EXTENT PERMITTED BY LAW. I SIGN THIS AGREEMENT AND RELEASE VOLUNTARILY AND
KNOWINGLY.

ACKNOWLEDGED, UNDERSTOOD AND AGREED:

	 	 	 	 	 
	Date:

	 	5-31-06
	 	     /s/ W. C. Kocmond
	 

	 	 
	 	 
	 

	 	 	 	     Warren C. Kocmond
	 
	 	 	 	 
	 

	 	 	 	Asyst Technologies, Inc.

	 	 	 	 	 	 	 
	Date:

	 	5/31/06
	 	By:
	 	/s/ Steve Debenham
	 

	 	 
	 	 	 	 
	 

	 	 	 	 	 	Steve Debenham
	 

	 	 	 	 	 	Vice President, General Counsel and Secretary

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Exhibit 10.40

ASYST TECHNOLOGIES, INC.

CHANGE-IN-CONTROL AGREEMENT

     THIS CHANGE-IN-CONTROL AGREEMENT (this “Agreement”) is made and entered into as of May 22,
2006 (the “Effective Date”), by and between Asyst Technologies, Inc., a California corporation
(“Asyst”), and Steve Debenham (the “Executive”).

     WHEREAS, Asyst considers it essential to foster the continued employment of key management
personnel and recognizes the distraction and disruption that the possibility of a Change in Control
(as defined in Section 1(e) below) may raise, to the detriment of Asyst and its stockholders; and

     WHEREAS, Asyst has determined to take appropriate steps to reinforce and encourage the
continued attention and dedication of key management personnel to their assigned duties in the face
of a possible Change in Control;

     NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein,
Asyst and the Executive hereby agree as follows:

     1. DEFINITIONS.

          (a) “Base Salary” shall mean the annualized base salary of the Executive at the time of
termination of his employment, within the application of this Agreement.

          (b) “Beneficiary” shall mean (i) the person or persons named, by the Executive by written
notice to Asyst, to receive any compensation or benefit payable under this Agreement, or (ii) in
the event of his death, if no such person is named and survives the Executive, his estate.

          (c) “Board” shall mean the Board of Directors of Asyst, acting in such capacity.

          (d) “Cause” shall mean any of the following, occurring during the term of the Executive’s
employment or employment relationship with Asyst:

               (i) the Executive’s conviction in a court of law of, or guilty plea, no contest plea or nolo
contendere plea to, a felony charge;

               (ii) willful, substantial and continued failure by the Executive to perform the duties of his
position after receiving notice of the same;

               (iii) willful engagement by the Executive in conduct that is demonstrably, materially and
economically injurious to Asyst; or

               (iv) gross negligence by the Executive during the performance of the duties of his position
resulting in demonstrable, material and economic injury to Asyst.

 

 

          (e) “Change in Control” shall mean any of the following, occurring during the term of the
Executive’s employment or employment relationship with Asyst:

               (i) an acquisition by an individual, an entity or a group (excluding Asyst, an employee
benefit plan of Asyst, or a corporation controlled by Asyst) of 30 percent or more of Asyst’s
then-outstanding common stock or voting securities;

               (ii) a change in composition of the Board occurring within a rolling two-year period, as a
result of which fewer than a majority of the directors are Incumbent Directors (“Incumbent
Directors” shall mean directors who either (x) are members of the Board as of the Effective Date or
(y) are elected, or nominated for election, to the Board with the affirmative votes of at least a
majority of the Incumbent Directors at the time of such election or nomination, but shall not
include an individual not otherwise an Incumbent Director whose election or nomination is in
connection with an actual or threatened proxy contest (relating to the election of directors to the
Board)); or

               (iii) consummation of a complete liquidation or dissolution of Asyst, or a merger,
consolidation or sale of all or substantially all of Asyst’s then-existing assets (collectively, a
“Business Combination”), other than a Business Combination (x) in which the stockholders of Asyst
immediately prior to the Business Combination receive 50 percent or more of the voting stock
resulting from the Business Combination, (y) at least a majority of the board of directors of the
corporation resulting from the Business Combination were Incumbent Directors and (z) after which no
individual, entity or group (excluding any corporation resulting from the Business Combination or
any employee benefit plan of such corporation or of Asyst) owns 30 percent or more of the stock of
the corporation resulting from the Business Combination who did not own such stock immediately
before the Business Combination.

          (f) “Disability” shall mean the illness or other mental or physical disability of the
Executive, as determined by a physician acceptable to Asyst and the Executive, resulting in his
failure (i) to perform substantially the material duties of his position for a period of six or
more consecutive months, or an aggregate of nine months in any 12-month period, and (ii) to return
to the performance of his duties within 30 days after receiving written notice of termination.

          (g) “Good Reason” shall mean, without the Executive’s prior written consent or his
acquiescence:

               (i) assignment to the Executive of duties incompatible with his position, failure to maintain
him in this position and its reporting relationship, or a substantial diminution in the nature of
his authority or responsibilities;

               (ii) reduction in his then-current Base Salary or in the bonus or incentive compensation
opportunities or benefits coverage available during the term of this Agreement, except pursuant to
an across-the-board reduction similarly affecting all senior executives of Asyst;

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               (iii) termination of the Executive’s employment, for any reason other than Cause, death,
Disability or voluntary termination, within two years following a Change in Control;

               (iv) within two years following a Change in Control, relocation of the Executive’s principal
place of business to a location more than 30 miles from the location of such office on the date of
this Agreement; or

               (v) (v) Asyst’s failure to pay the Executive any material amounts otherwise vested and due him
hereunder or under any plan, program or policy of Asyst.

     2. TERM OF AGREEMENT.

          This Agreement shall be effective immediately as of the Effective Date, and shall remain in
effect until the earliest to occur of (a) termination of the Executive’s employment with Asyst
following a Change in Control (i) by reason of death or Disability, (ii) by Asyst for Cause, or
(iii) by the Executive other than for Good Reason; (b) two years after the date of a Change in
Control; or (c) two years after the Effective Date, provided that a Change in Control has not
occurred within such two-year period.

     3. ENTITLEMENT UPON TERMINATION BY ASYST WITHOUT CAUSE OR BY THE EXECUTIVE FOR GOOD REASON
WITHIN TWO YEARS FOLLOWING A CHANGE IN CONTROL.

     In the event of termination of the Executive’s employment within two years following a Change
in Control (a) by Asyst without Cause or (b) by the Executive for Good Reason, he shall be entitled
to the entitlements set out below in this section 3. Generally, such amounts to be paid to the
Executive in a cash lump sum within 30 business days after termination except that (i) the payment
of any equity awards may be made in shares and (ii) in the event it is determined that the
Executive is a “Specified Employee” as defined in Section 409A(a)(2)(B)(i) of the Internal Revenue
Code of 1986, as amended (the “Code”), any payment to be made under this Agreement that is
“nonqualified deferred compensation” subject to Section 409A of the Code shall be delayed for six
months following the Executive’s termination of employment.

          (a) General Entitlement:

               (i) his Base Salary through the date of termination, but not yet paid to him;

               (ii) payment in lieu of any unused vacation, in accordance with Asyst’s vacation policy and
applicable laws;

               (iii) any annual or discretionary bonus earned but not yet paid to him for any completed
fiscal year prior to the fiscal year in which his termination occurs;

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               (iv) any compensation under any deferred compensation plan of Asyst or deferred compensation
agreement with Asyst then in effect (subject to the terms and conditions of such plan);

               (v) any other compensation or benefits, including without limitation any benefits under
long-term incentive compensation plans, any benefits under equity grants and awards and employee
benefits under plans that have vested through the date of termination, or to which he may then be
entitled, in accordance with the applicable terms of each grant, award or plan; and

               (vi) reimbursement of any business expenses reasonably and properly incurred by the Executive
through the date of termination, but not yet paid to him.

     (b) Change-in-Control Entitlement:

               (i) two times the sum of (A) his Base Salary, at the rate in effect immediately before such
termination, and (B) an amount equal to the average of his annual bonuses actually paid by Asyst to
the Executive during the three completed fiscal years prior to the year in which termination
occurs;

               (ii) continuing coverage under the life, disability, accident, health, dental and vision
insurance programs covering senior executives of Asyst generally, as from time to time in effect,
to the extent permitted under COBRA coverage or the terms of such programs, for the two-year period
from such termination, or, if earlier, through such date as he becomes eligible for substantially
similar coverage under the employee benefit plans of a new employer, provided that the Executive
agrees that the period of continuation coverage under such plans shall count against any obligation
by the plan or Asyst to provide continuation coverage pursuant to COBRA; and

               (iii) immediate and unconditional vesting of any unvested stock options and stock grants
previously awarded to the Executive and, for the period ending with the later of (i) the
15th day of 3rd month following the date on which the exercise period for the
option in question would otherwise have expired or (ii) December 31 of the calendar year in which
that exercise period would otherwise have expired, the right to exercise all stock options, grants
and awards vested as of the termination of employment, provided, however, that in no event shall
this section 3(b)(iii) extend the exercise period for an option beyond the date that is one year
following the termination of employment.

     (c) Determination of Amount of Payment. In the event that any payments or other benefits
received or to be received by the Executive pursuant to this Agreement (“Payments”) would (i)
constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but for
this Section 3(c), be subject to the excise tax imposed by Section 4999 of the Code (the “Excise
Tax”), then, the Executive shall receive either (x) the full amount of any parachute payment or (y)
2.99 times the Executive’s “base amount” (as such term is defined under the Parachute Rules),
whichever of the foregoing amounts (after taking into account any applicable federal, state and
local income taxes and the Excise Tax) results in the receipt by the Executive, on an after-tax
basis, of the greater payment provided that (a) the acquiring person in

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the Change of Control, in its sole discretion, does not object thereto and does not impose on
Asyst or its stockholders any added cost, price reduction, or other detriment therefrom (economic
or otherwise as determined in Asyst’s sole discretion), and (b) the Executive deposits at least
three (3) business days prior to consummation of the Change of Control with a party designated by
Asyst a cash sum sufficient in the discretion of Asyst to fund all withholding payments that may
arise in connection with the Executive’s parachute payments from any source. In the event a
reduction provides the greater benefit Asyst shall reduce and cancel, and the Executive hereby
waives, the parachute payment to the minimum extent necessary to equal the amount described in (y)
above.

     In no event shall Asyst be required to gross up any payment or benefit to the Executive to
avoid the effects of Section 280G of the Code or to pay any regular or excise taxes arising
therefrom. Unless Asyst and the Executive otherwise agree in writing, any parachute payment
calculation shall be made in writing by independent public accounts agreed to by Asyst and the
Executive, whose calculations shall be conclusive and binding upon Asyst and the Executive for all
purposes. Asyst and the Executive shall furnish to the accountants such information and documents
as the accountants may reasonable request in order to make a parachute payment determination. If
the Internal Revenue Service (the “IRS”) determines that a Payment is subject to the Excise Tax,
then the following paragraph shall apply.

     Notwithstanding any reduction described in the immediately preceding paragraph (or in the
absence of any such reduction), if the IRS determines that the Executive is liable for the Excise
Tax as a result of the receipt of Payments, then the Executive shall be obligated to pay back to
Asyst, within 30 days after final IRS determination, an amount of the Payments equal to the
“Repayment Amount.” The Repayment Amount shall be the smallest such amount, if any, as shall be
required to be paid to Asyst so that the Executive’s net proceeds with respect to the Payments
(after taking into account the payment of the Excise Tax imposed on such Payments) shall be
maximized. Notwithstanding the foregoing, the Repayment Amount shall be zero if a Repayment Amount
of more than zero would not eliminate the Excise Tax imposed on the Payments. If the Excise Tax is
not eliminated pursuant to this paragraph, the Executive shall pay the Excise Tax.

          (d) Release. Asyst may require, as a condition of receiving the foregoing Change-in-Control
payment or other Payment under subsection (b) or (c) above, that the Executive execute in
conjunction with his termination a general release substantially in the form annexed hereto as
Exhibit A (subject to such reasonable changes as may be required by circumstances or
changes in applicable law as are necessary to give effect to the same), which upon execution shall
be deemed incorporated herein by reference as a material part of this Agreement.

          (e) Compliance with Section 409A of the Code. It is the intent of the parties to this
Agreement that any of the payments set forth in this Agreement which meet the definition of
nonqualified deferred compensation under Section 409A of the Code shall be made in a manner that
complies with Section 409A of the Code. Asyst reserves the right, to the extent Asyst deems
necessary or advisable in its sole discretion, to unilaterally amend or modify this Agreement as
may be necessary to ensure that all benefits provided under this Agreement are made in a manner
that qualifies for exemption from or complies with Section 409A of the Code, provided,

5

 

however, that Asyst makes no representations that the compensation or benefits provided under
this Agreement will be exempt from Section 409A of the Code and makes no undertakings to preclude
Section 409A of the Code from applying to the benefits provided under this Agreement.

          (f) Relation to Other Agreements. Payments under this Section 3 shall supersede and replace
any other payments under any other employment contract or offer letter to which the Executive may
be a party or participant and that otherwise would become due as a result of a termination of
employment.

     4. NO MITIGATION.

          Asyst agrees that if the Executive’s employment with Asyst terminates, he shall not be
obligated to seek other employment or to attempt to reduce any amount payable to him under this
Agreement. Further, with the exception of the benefits described in Section 3(b)(ii), no
amount of any payment hereunder shall be reduced by any compensation earned by the Executive as the
result of employment by a subsequent employer or otherwise.

     5. NOTICES.

          Any notice or other communication required or permitted under this Agreement shall be in
writing and shall be deemed to have been duly given when delivered by hand, electronic transmission
(with a copy following by hand or by overnight courier), by registered or certified mail, postage
prepaid, return receipt requested or by overnight courier addressed to the other party. All notices
shall be addressed as follows, or to such other address or addresses as may be substituted by
notice in writing:

	 	 	 	 	 
	 

	 	To Asyst :
	 	To the Executive:
	 

	 	Asyst Technologies, Inc.
	 	46897 Bayside Parkway
	 

	 	General Counsel
	 	Fremont, CA
	 

	 	46897 Bayside Parkway
	 	Fax: (510) 661-5166
	 

	 	Fremont, CA 94538

Fax: (510) 661-5624	 	 

     6. GENERAL PROVISIONS.

          (a) Amendments. Except as otherwise set forth in Section 3(e), no provision of this Agreement
may be amended, modified or waived unless such amendment, modification or waiver shall be agreed to
in writing and signed by the Executive and by the Compensation Committee of the Board.

          (b) Severability. If any provision of this Agreement shall be determined to be invalid or
unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement
shall be unaffected thereby and shall remain in full force and effect to the fullest extent
permitted by law.

6

 

          (c) Partial Invalidity. If any provision of this Agreement is held by a court of competent
jurisdiction to be invalid, void or unenforceable, the remaining provisions shall nevertheless
continue in full force without being impaired or invalidated in any way.

          (d) Governing Law. This Agreement shall be construed, interpreted and governed in accordance
with the laws of the State of California, without reference to rules relating to conflicts of law.

          (e) Inconsistencies. The terms of this Agreement supersede any inconsistent prior promises,
policies, representations, understandings, arrangements or agreements between the parties, whether
by employment contract or otherwise.

          (f) Survival. Notwithstanding the termination of the term of this Agreement, the duties and
obligations of Asyst, if any, following the termination of the Executive’s employment following a
Change in Control shall survive indefinitely.

          (g) Withholding. Asyst may deduct and withhold from any payments hereunder the amount that
Asyst, in its reasonable judgment, is required to deduct and withhold for any federal, state or
local income or employment taxes.

          (h) No Other Compensation; Employee at Will. Except and to the extent specifically provided
in Section 3 above, no amount or benefit shall be due or payable to the Executive, and no
obligation or liability due or owing by Asyst, under this Agreement or otherwise in respect of
termination of his employment (at any time or within two years following a Change in Control).
This Agreement shall not be construed as creating an express or implied contract of employment and,
except and to the extent specifically otherwise agreed in writing between the Executive and Asyst,
the Executive is and shall remain an “employee at will” and shall not have any right or expectation
(reasonable or otherwise) to be retained or continue in the employ of Asyst.

          (i) Arbitration. Any right or benefit, or obligation or liability, granted or arising under
this Agreement, and any other dispute between the Executive and Asyst arising from or relating to
the Executive’s employment or termination of employment, shall be subject to and resolved
exclusively by binding non-appealable arbitration. The terms and conditions of the Agreement to
Arbitrate Disputes and Claims shall govern such arbitration (in the event entered between the
parties, and as amended from time to time), be binding on the Executive and Asyst and shall be
deemed incorporated herein by reference as a material part of this Agreement. Neither the
Executive nor Asyst shall be liable to, or entitled to recover from, the other, for any claim,
cause or action, suit or proceeding relating to any right or obligation hereunder, any incidental,
special, consequential or exemplary damages of any kind, including punitive damages (and the
arbitrator will be without jurisdiction to award such damages). The arbitrator also will not have
authority to award attorneys’ fees or costs to either party, unless a statute at issue which is the
basis for the dispute expressly authorizes the award of attorneys’ fees or costs to the prevailing
party. In this instance, the arbitrator shall have the authority to make an award of only of
reasonable attorneys’ fees and costs to the prevailing party, and to the extent and in the manner
permitted by the applicable statute. However, any award of fees and costs will be

7

 

limited to the amount of reasonable fees and costs actually incurred and which bear a
reasonable relation to the prevailing party’s actual recovery.

[The balance of this page has been intentionally left blank]

8

 

          IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first
above written.

	 	 	 	 	 
	 	ASYST TECHNOLOGIES, INC.

 	 
	 	By:  	/s/ Stephen S. Schwartz
 	 
	 	 	Name:  	Stephen S. Schwartz 	 
	 	 	Title:  	Chief Executive Officer 	 
	 

	 	 	 	 	 
	 	EXECUTIVE

 	 
	 	/s/ Steve Debenham
 	 
	 	Steve Debenham 	 
	 	 	 
	 

9

 

EXHIBIT A 

SEVERANCE AGREEMENT AND RELEASE OF ALL CLAIMS

     This Severance Agreement and Release of All Claims (“Agreement and Release”) is intended to
constitute a binding agreement between
you,                                          (“Employee”), and Asyst Technologies, Inc.,
on behalf of its subsidiary and affiliated entities (“Asyst” or the “Company”). Please review the
terms carefully. By signing below, you are agreeing to end your employment relationship with Asyst
on the terms identified below, and in return for the benefits provided herein. We advise you to
consult with an attorney or other advisor concerning its terms and obligations and the specific
effect on your legal rights. This Agreement and Release is deemed
effective as
of                                          (the
“Effective Date”).

     1. Your employment with Asyst shall terminate on                                         . You understand you have no
recall rights.

     2. You and Asyst agree that this Agreement and Release is contractual in nature and not a mere
recital, and that this Agreement and Release shall be interpreted as though drafted jointly by the
Employee and Asyst.

     3. You will be entitled to the benefits described in the Change-in-Control Agreement between
Asyst and you dated                                         . You understand that, except as provided herein, you will not
be entitled to any additional payments or severance or any other benefits from Asyst associated
with any claimed work or right to work beyond the date of your termination.

     4. During the course of your employment with Asyst, you have had access to or have had
possession of confidential and proprietary information or materials of Asyst (including, but not
limited to, technical information, business plans, client, supplier and employee information,
telephone records or lists, and non-public financial information). You acknowledge and understand
that all such information or material constitutes confidential information of Asyst and/or its
customers and affiliates; you agree that you shall not retain any, and that you must return to
Asyst all, originals and copies of such material. You further agree that you shall not use,
disclose or divulge any such material or other confidential or trade secret information of Asyst,
its customers or affiliates to any third party company, individual or institution without the
direct written authorization of Asyst’s C.E.O., and that your confidentiality obligations to Asyst
are continuing into the future regardless of termination of your employment.

     5. You also agree to return promptly all property of Asyst, including pagers, cellular phones,
PDAs and any other materials or equipment in your possession or which were provided to you by or
through Asyst. You further understand that any use of credit or telephone cards, cellular phones,
pagers, PDAs, and other materials or equipment provided to you by or through Asyst will not be
authorized beyond your termination date, and any expenses incurred after your termination date will
not be eligible for reimbursement.

     6. You hereby fully waive, release and discharge Asyst, its parent, subsidiary and affiliated
entities, and the shareholders, directors, officers, employees, agents and representatives

10

 

of each (the “Released Parties”) from, and agree never to assert against any of the Released
Parties any and all claims, liabilities, charges and causes of action of any kind whatsoever which
you have, had or may have against them as of the date on which you sign this Agreement, including
without limitation any and all claims, liabilities, charges and causes of action relating to:

	 	(a)	 	your employment, termination of employment or any right,
expectation, claim or benefit relating to or arising in any manner from your
employment;
	 
	 	(b)	 	any and all rights or claims relating to or in any manner
arising under the California Fair Employment and Housing Act (Government Code
section 12900 et seq., as amended);
	 
	 	(c)	 	any and all rights or claims relating to or in any manner
arising under the Civil Rights Act of 1964 (42 U.S.C. 2000, et seq., as
amended);
	 
	 	(d)	 	any and all rights or claims relating to or in any manner
arising under the Americans with Disabilities Act (29 U.S.C. 706 et seq., as
amended);
	 
	 	(e)	 	any and all rights or claims relating to or in any manner
arising under the Age Discrimination in Employment Act of 1967 (29 U.S.C. 621
et seq., as amended);
	 
	 	(f)	 	any and all rights or claims relating to or in any manner
arising under the WARN Act (as amended), and any comparable provisions of
California or other applicable law;
	 
	 	(g)	 	any and all rights or claims relating to or in any manner
arising under the Equal Pay Act of 1963 (as amended);
	 
	 	(h)	 	any and all rights or claims relating to or in any manner
arising under the California Labor Code Section 1197.5 (as amended); and
	 
	 	(i)	 	any and all rights or claims otherwise relating to or in any
manner arising under federal, state or local statutory, administrative or
common law or regulation, including claims for wrongful termination or
constructive discharge or demotion, breach of contract (written, oral or
implied), breach of the covenant of good faith and fair dealing, violation of
public policy, infliction of emotional distress, personal injury, defamation
and misrepresentation.

Asyst hereby fully waives, releases and discharges you from, and agrees never to assert against
you, any and all claims, liabilities, charges and causes of action of any kind whatsoever which
Asyst has, had or may have against you as of the date on which you sign this Agreement, provided,
however, that nothing in this Paragraph 6 shall preclude Asyst from enforcing its rights with
respect to your obligations under the terms and conditions of (i) this Agreement and Release, (ii)
the releases from you contained herein, and (iii) the Agreement to Arbitrate

11

 

Disputes and Claims and the Confidential Information and Inventions Assignment Agreement you may
have executed previously in conjunction with your employment with Asyst.

     7. Each party waives his or its rights under section 1542 of the Civil Code of California, or
other comparable provision of applicable law, which states:

A general release does not extend to claims which the creditor does not
know or suspect to exist in his favor at the time of executing the
release, which if known to him must have materially affected his
settlement with the debtor.

     8. This Agreement and Release shall not affect any waiver or release of any claim for workers’
compensation benefits and unemployment insurance benefits.

     9. You understand, represent and agree that:

(a) you have had a reasonable opportunity to consider this Agreement and Release and
to consult an attorney or other advisor before signing this Agreement and Release;

	 	(b)	 	you have read this Agreement and Release in full and understand
all of the terms and conditions set forth herein;
	 
	 	(c)	 	you knowingly and voluntarily agree to all of the terms and
conditions set forth herein and intend to be legally bound by them;

            (d) you may rescind this Agreement and Release only with respect to claims arising under the
Age Discrimination in Employment Act of 1967 (29 U.S.C. 621 et seq.) and only if you do so within
seven (7) days after signing it (in which case you will forfeit in full and agree immediately to
refund, return to and reimburse Asyst any and all benefits provided to you under Paragraph 8,
above); and

	 	(e)	 	this Agreement and Release will not become effective or
enforceable with respect to claims arising under the Age Discrimination in
Employment Act of 1967 (29 U.S.C. 621 et seq.) until seven (7) days after you
have signed it.

     10. You represent that you have not filed any complaints, claims, grievances or actions
against Asyst, its parent, subsidiary and affiliated entities, and the shareholders, directors,
officers, employees, agents and representatives of each, or any other of the Released Parties in

12

 

any state, federal or local court or agency, and you covenant not to file any such complaints,
claims, grievances, or actions (other than for workers’ compensation benefits, unemployment
insurance benefits or otherwise not subject to by law to your waiver or releases herein) at any
time hereafter. You hereby grant power of attorney to Asyst to dismiss on your behalf any such
complaint, claim grievance or action you filed in violation of this Paragraph. Notwithstanding the
foregoing, you acknowledge and agree that in the event you successfully assert any claim against
Asyst, despite the waivers, releases and other representations provided in this Agreement and
Release, that an amount equal to any and all benefits provided to you under Paragraph 3, above, may
and shall be off-set and deducted from any recovery from such claim.

     11. Asyst represents that it has not filed any complaints, claims, grievances or actions
against you in any state, federal or local court or agency, and Asyst covenants not to file any
such complaints, claims, grievances, or actions at any time hereafter with respect to the claims
released by Asyst hereunder. Asyst hereby grants power of attorney to you to dismiss on Asyst’s
behalf any such complaint, claim grievance or action Asyst filed in violation of this Paragraph.

     12. You agree not to defame, disparage or criticize Asyst or its shareholders, directors,
officers, employees or business or employment practices at any time. In addition, you agree not to
engage in any conduct that you know or reasonably should know will damage the reputation of Asyst
or cause third parties to view Asyst or its shareholders, directors, officers or employees in a
less favorable light.

     13. You agree to not to disclose the existence of this Agreement and Release, its terms, or
any information relating to this Agreement and Release to anyone other than your spouse (if any),
tax preparer, accountant, attorney and other professional adviser or party to whom disclosure is
necessary in order to comply with the law. In such event, you will instruct them to maintain the
confidentiality of this Agreement and Release just as you must.

     14. The parties agree that this Agreement and Release shall be binding upon their successors
and assignees. Each represents that it has not transferred to any person or entity any of the
rights released or transferred through this Agreement.

     15. If a court of competent jurisdiction declares or determines that any provision of this
Agreement and Release is invalid, illegal or unenforceable, the invalid, illegal or unenforceable
provision(s) shall be deemed not a part of this Agreement, but the remaining provisions shall
continue in full force and effect.

     16. Each party, upon breach of this Agreement and Release by the other, shall have the right
to seek all necessary and proper relief, including, but not limited to, specific performance, from
a court of competent jurisdiction.

     17. Each party agrees that any differences, disputes or controversies between us arising from
this Agreement and Release or from rights or obligations hereunder, or any liabilities asserted or
arising from your employment or its termination, shall be exclusively submitted to binding
arbitration before an independent and qualified arbitrator in accordance with the American
Arbitration Association and the National Rules for the Resolution of Employment Disputes then in
effect, without reference to conflict of laws principles. Arbitration

13

 

shall be the exclusive forum for any dispute, claim or cause arising hereunder, or any
liabilities asserted or arising from your employment or its termination, and the decision and award
by the arbitrator shall be final and binding upon, and non-appealable by, the parties and may be
entered in any state or federal court having jurisdiction. In all other respects, the arbitration
shall be subject to the terms and conditions provided in the Agreement to Arbitrate Disputes and
Claims (if previously or contemporaneously executed by you and Asyst), which said terms and
conditions are deemed incorporated in his Agreement and Release in full by this reference and made
a material part hereof.

     18. Neither you nor Asyst shall be able to recover from the other, for any claim, cause or
action arising hereunder, any incidental, special, consequential or exemplary damages of any
nature, including but not limited to punitive damages, or attorneys fees or costs incurred in any
such claim, cause or action, unless and to the extent any such award of damages, fees or costs is
specifically provided and available to the party as a remedy under the statute asserted as a basis
for the claim, cause or action, and, unless so specifically provided, the court or arbitrator in
any such claim, cause or action shall be without authority or jurisdiction to award such damages
fees or costs; provided, however, that provisional or injunctive remedies and relief shall be
available as appropriate to each party.

     19. We each, to the fullest extent permitted by law, waive any right or expectation against
the other to trial or adjudication by a jury of any claim, cause or action arising hereunder or
from the rights, duties or liabilities created hereby.

     20. The laws of the State of California shall govern the construction and enforcement of this
Agreement and Release and any rights, obligations or liabilities hereunder, without regard to
conflicts of laws considerations.

     21. You certify and confirm that you do not have in your possession any, and that you have
returned to Asyst as of termination of your employment all, property, devices, records, data,
notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches,
materials equipment, other documents or property, or reproductions of any aforementioned items
belonging to Asyst.

     22. You also certify and confirm that you have complied during your employment with all the
terms of Asyst’s Confidential Information and Inventions Assignment Agreement in the event
previously signed by you, including the reporting of any inventions and original works of
authorship (as defined therein), conceived or made by you (solely or jointly with others) covered
by that agreement. You further agree that you will continue to be required to preserve as
confidential all trade secrets, confidential knowledge, data or other proprietary information
relating to services, clients, products, processes, know-how, designs, formulas, developmental or
experimental work, computer programs, data bases, other original works of authorship, customer
lists, business plans, financial information or other subject matter pertaining to any business of
Asyst or any of its employees, clients, consultants or licensees.

     23. You further agree that for the six (6) month period from the date of termination of your
employment or consulting relationship with Asyst, you will not recruit or solicit any employee to
leave Asyst for any reason or to accept employment with any other company, and

14

 

will not interview or knowingly provide any assistance or input to any third party regarding
any such employee.

     24. You understand that the provisions of the Change-in-Control Agreement between Asyst and
you dated                                          and the provisions of this Agreement and Release set forth the entire
agreement between you and Asyst concerning your employment, separation benefits and termination of
employment, and that this Agreement and Release replaces any other promises, representations or
agreement between you and Asyst, whether written or oral, concerning such matters. You also
understand that any benefits provided you under this Agreement and Release are offered on a
one-time basis, and are not a part of a funded employee welfare program or established Asyst
practice or policy. Any modification of this Agreement and Release, or change to the benefits
offered hereunder, must be in writing and executed in advance by you and the Vice President, Human
Resources for Asyst, or else such notification will not be binding or effective.

     25. In the event that you breach any of your obligations under this Agreement and Release or
as otherwise imposed by law, Asyst will be entitled to recover the sums and benefits paid under the
Agreement and Release and to obtain all other relief provided by law or equity.

     26. The parties agree and represent that they have not relied and do not rely upon any
representation or statement regarding the subject matter or effect of this Agreement and Release
made by any other party to this Agreement and Release or any party’s agents, attorneys or
representatives.

I, THE UNDERSIGNED, HAVE HAD A SUFFICIENT OPPORTUNITY TO CONSIDER THIS AGREEMENT AND RELEASE AND
HAVE BEEN ADVISED IN WRITING THAT I MAY CONSULT WITH AN ATTORNEY CONCERNING ITS TERMS AND EFFECT
PRIOR TO EXECUTING THIS AGREEMENT AND RELEASE.

I, THE UNDERSIGNED, HAVE READ THIS AGREEMENT AND RELEASE AND UNDERSTAND THAT I ENTER THIS AGREEMENT
AND RELEASE INTENDING TO AND DO WAIVE, SETTLE AND RELEASE ALL CLAIMS I HAVE OR MIGHT HAVE AGAINST
ASYST TO THE FULL EXTENT PERMITTED BY LAW. I SIGN THIS AGREEMENT AND RELEASE VOLUNTARILY AND
KNOWINGLY.

ACKNOWLEDGED, UNDERSTOOD AND AGREED:

									
	 

	 	 	 	 	 	 	 	 
	EMPLOYEE:	 	 	ASYST TECHNOLOGIES, INC.	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 	 	 
	Date:

	 	 	 	Date:	 	 	 	 
	 

	 	 
	 	 	 	 	 	 

15

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