Document:

Exhibit

Exhibit  10.62

BINDING TERM SHEET

This Term Sheet is entered into between Power Integrations, Inc. and its affiliates (collectively, "PI") and ON Semiconductor Corporation and Semiconductor Components Industries, LLC and their affiliates (collectively "ON").   PI and ON are also referred to below individually as a "party" and collectively as the "parties."

1.     Once approved by the respective board of directors of PI and ON, this Term Sheet is binding and creates an agreement between the parties.

2.    The parties have agreed on the following terms and will negotiate a final agreement that includes the following rights and obligations of the parties:

a.   Cash Payment.  ON will pay PI $175,000,000.00 (one hundred seventy-five million U.S. dollars).

b.  Releases before June 30, 2020.  Each party will release the other party for any claim to damages or monetary relief for acts of patent infringement asserted in any Fairchild legal proceeding or ON Semi legal proceeding occurring on or before June 30, 2020 (''the Release Date").  Each party will release the other party's direct and indirect distributors, resellers, and customers for any claim for damages or monetary relief for acts of patent infringement asserted in any Fairchild legal proceeding or ON Semi legal proceeding to the extent that the claim is based on an allegation of patent infringement directed to a product of the other party occurring on or before the Release Date.  For the avoidance of doubt, either party shall be permitted to recover for any manufacture, use, sale, offer for sale, or importation of an accused product after the Release Date.

c.   Cooling Off Period.  Neither party will file any action or proceeding for legal or equitable relief based on domestic or foreign patent infringement (including both judicial or administrative actions) against the other party for a period of three years from the Release Date ("Cooling Off Period").  Each party also will not file any action or proceeding for legal or equitable relief against direct or indirect distributors, resellers, and customers of the other party during the Cooling Off Period to the extent that the action or proceeding is based on an allegation of patent infringement directed to a product of the other party. Subject to all relevant legal requirements anywhere in the world, the parties reserve the ability to recover damages and/or injunctive relief in a new litigation filed after the Cooling Off Period for infringement that occurs during the Cooling Off Period (consistent with and subject to 35 U.S.C. § 286 or other statute of limitations).  For the avoidance of doubt, the absence of assertion of a patent during the Cooling Off Period shall not be relied upon by either party as a basis for a denial of an injunction.

d.   No Validity or Enforceability Challenges during the Cooling Off Period.  Each party agrees not to initiate a validity or enforceability challenge to the other party's patents during the Cooling Off Period, except with respect to a patent that is asserted against a party during the Cooling Off Period.

e.    Final  Agreement.  The parties will complete a definitive agreement based on the principles set forth in this term sheet within 20 days of October 2, 2019.

		
	f. 
	Withdrawals and Dismissals.  For each  pending ON Semi legal proceeding (foreign or domestic)("ON Semi legal proceeding" means 2016 NDCal, 2017 Delaware, Taiwan, and China), the  parties will withdraw or file joint motions under Rule 41(a)(2) or other appropriate procedures under the rules of the relevant fora to withdraw or dismiss their respective claims and appeals without prejudice. For each pending Fairchild legal proceeding ("Fairchild legal proceeding" means 2004  Delaware, 2008 Delaware, 2012 Delaware, 2009 NDCal, and 2015 NDCal) the  parties will dismiss with prejudice, including all appeals. For each pending  IPR, the parties will cooperate to terminate  each proceeding.

	
					
	 
	Power Integrations, Inc.
	 
	 
	ON Semiconductor Corporation and
Semiconductor Components Industries, LLC

	By:
	/s/ Balu Balakrishnan
	 
	By:
	/s/ Keith Jackson

	Print Name:
	Balu Balakrishnan
	 
	Print Name:
	Keith Jackson

	Title:
	CEO
	 
	Title:
	President & CEO ON Semiconductor

	Date:
	2 Oct 2019
	 
	Date:
	10/2/2019vrtu_Ex10_1

		

			[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

		

		

			 

		

		
			Exhibit 10.1
		

		
			Amendment 5 to
		

		
			MASTER PROFESSIONAL SERVICES AGREEMENT
		

		
			 
		

			
					
						Amendment No.:

					
					
						SS2012201901

				
	
					
						Amendment Effective Date:

					
					
						20th Dec 2019

				

		
			 
		

			
					
						 

					
					
						SUPPLIER

					
					
						CITI

				
	
					
						Name:

					
					
						Polaris Consulting & Services Ltd

					
					
						Citigroup Technology, Inc.

				
	
					
						Address:

					
					
						“Polaris House” 244 Anna Salai

					
						Chennai 600006, Tamilnadu, India

					
					
						111 Wall Street, 7th Floor

					
						New York, NY 10005

				
	
					
						Incorporation:

					
					
						India

					
					
						Delaware

				

		
			 
		

		
			THIS AMENDMENT No. 5 (this “Amendment”) is entered into by and between the Supplier and Citi as designated above, for the purpose of memorializing the terms and conditions of certain savings applicable to Services to be provided by Supplier in connection with the Citi Vendor Consolidation RFP (“RFP”) under the Master Professional Services Agreement dated as of July 1st, 2015, by and between the Parties, as amended by that letter agreement dated November 5, 2015, by and among Polaris Consulting & Services Ltd., Virtusa Corporation and Citigroup Technology, Inc., with such amendment having an effective date of March 3, 2016 (such agreement, as further amended to date, the “Agreement”).    
		

		
			Supplier and Citi agree as follows:
		

			
	
			
				 1.
			

			
	
			
			Capitalized Terms.  All capitalized terms used and not defined in this Amendment have the meanings specified in the Agreement.

			
	
			
				 2.
			

			
	
			
			Savings.  

			
	
			
				 a.
			

			
	
			
			Subject to the conditions set forth in Section 3 below, during the period from April 1, 2020 to December 31, 2020 (the “Savings Period”), Supplier will provide Citi with (i) the Run Rate Savings (as defined below); and (ii) the Transitioned Work Savings (as defined below).  

			
	
			
				 b.
			

			
	
			
			“Run Rate Savings” means [***************************************] for the Savings Period [**********************************************************************], which represents the aggregate savings to be [*****************************************************************************] through the application of the various “Saving Levers” [*******************************************************************************] for Services provided during the Savings Period. [****************************************************************************].  

			
	
			
				 c.
			

			
	
			
			“Transitioned Work Savings” means [***] savings on net-new Transitioned Work, in each case subject to execution of a mutually agreed Work Order between Citi and Supplier covering such Transitioned Work.  [**************************************************].  

		
			

		 

		

			[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

		

		

			 

		

		

			
	
			
				 3.
			

			
	
			
			 Conditions. Provision of the Run Rate Savings and the Transitioned Work Savings is subject to the following conditions:

			
	
			
				 a.
			

			
	
			
			[* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *].

			
	
			
				 b.
			

			
	
			
			[* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *]. 

			
	
			
				 c.
			

			
	
			
			The Run Rate Savings and Transitioned Work Savings shall only be calculated during the Savings Period and not any other period during calendar year 2020. 

			
	
			
				 d.
			

			
	
			
			The Run Rate Savings and the Transitioned Work Savings shall count towards the productivity savings described in Section 4.16 (Continuous Improvement) of the Agreement.

			
	
			
				 4.
			

			
	
			
			Complete Understanding. Except as expressly specified in this Amendment, the Work Order and the Agreement remain unchanged and in full effect.  In the event of a conflict between this Amendment and the Agreement, this Amendment takes precedence.

		
			
		

		
			

		 

		

			[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

		

		

			 

		

		

		
			IN WITNESS WHEREOF, the Parties to this Amendment, each acting with proper authority, have signed this Amendment either by manual signature or by electronic signature (as evidenced below) as of the Effective Date designated above.
		

		
			 
		

		
			By Manual Signature:
		

		
			 
		

			
					
						SUPPLIER:

					
					
						 

					
					
						CITI:

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						By:

					
					
						/s/ Srinivasan Jayaraman

					
					
						 

					
					
						By:

					
					
						/s/ Stuart Smith

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Name:

					
					
						Srinivasan Jayaraman

					
					
						 

					
					
						Name:

					
					
						Stuart Smith

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Title:

					
					
						EVP

					
					
						 

					
					
						Title:

					
					
						Director

				
	
					
						 

					
					
						 

					
					
						 

					
					
						 

					
					
						 

				
	
					
						Date:

					
					
						December 30, 2019

					
					
						 

					
					
						Date:

					
					
						December 31, 2019

				

		
			 
		

		
			By Electronic Signature Binding:
		

		
			 
		

		

		 

		

			[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

		

		

			 

		

	
					
						

					
						For Supplier:  By selecting the "I Accept" button below, I am representing that I am an authorized representative of Supplier and am the individual identified in the signature block immediately following this paragraph under the reference to Supplier and that I am entitled and authorized to legally bind Supplier to this Amendment.  Supplier agrees that use of a key pad, mouse or other device by its authorized representative to select the “I Accept” button below will be deemed to be a valid and due execution of this Amendment by Supplier with the same force and effect as if Supplier had manually signed this Amendment.  If Supplier does not agree that its electronic selection of the “I Accept” button below will bind Supplier to the terms and conditions of this Amendment as it exists on the date hereof, then do not select the “I Accept” button below.    

					
					
						For Citi:  By selecting the "I Accept" button below, I am representing that I am an authorized representative of Citi and am the individual identified in the signature block immediately following this paragraph under the reference to Citi and that I am entitled and authorized to legally bind Citi to this Amendment.  Citi agrees that use of a key pad, mouse or other device by its authorized representative to select the “I Accept” button below shall be deemed to be a valid and due execution of this Amendment by Citi with the same force and effect as if Citi had manually signed this Amendment.  If Citi does not agree that its electronic selection of the “I Accept” button below will bind Citi to the terms and conditions of this Amendment as it exists on the date hereof, then do not select the “I Accept” button below.    

				

		
			 
		

		
			
		

			
					
						I Accept : {{*[]_es_:signer1}}

					
					
						I Accept: {{*[]_es_:signer2}}

				
	
					
						Supplier:

					
					
						Citi: 

				
	
					
						eSign: {{_es_:signer1:signature                     }}

					
					
						eSign: {{_es_:signer2:signature                          }}

				
	
					
						Name: {{_es_:signer1:fullname                       }}

					
					
						Name: {{_es_:signer2:fullname                           }}

				
	
					
						Email: {{_es_:signer1:email                            }}

					
					
						Email: {{_es_:signer2:email                                }}

				
	
					
						Date: {{_es_:signer1:date                                }}

					
					
						Date: {{_es_:signer2:date                                   }}

				

		
			 
		

		
			
		

		
			

		 

		

			[***] Certain information in this document has been omitted from this exhibit because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

		

		

			 

		

		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			 
		

		
			Exhibit A
		

		
			 
		

		
			[*****].

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