Document:

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                                                                                                            EXHIBIT
10.7

 

 

 

 

 

RF MICRO DEVICES, INC.

 

CASH BONUS PLAN

 

 

 

 

 

RF MICRO DEVICES, INC.

CASH BONUS PLAN

1.        
Purpose

The
purpose of the RF Micro Devices, Inc. Cash Bonus Plan, as it may be amended
(the "Plan"), is to provide selected salaried employees of RF Micro
Devices, Inc. or an affiliate thereof (collectively, the "Company"
unless the context otherwise requires) with awards ("awards") in the
form of cash bonuses based upon attainment of preestablished, objective performance
goals, thereby promoting a closer identification of the participating
employees' interests with the interests of the Company and its shareholders,
and further stimulating such employees' efforts to enhance the efficiency,
profitability, growth and value of the Company. 

2.        
Plan Administration  

The
Plan shall be administered by the Compensation Committee (the
"Committee") of the Board of Directors (the "Board") of the
Company or a subcommittee of the Committee.  To the extent required by Section 162(m) of the Internal Revenue Code of 1986,
as amended (the "Code"), the Committee shall be comprised of at least
two members and each member of the Committee (or subcommittee of the Committee)
shall be an "outside director" as defined in Code Section 162(m) and related regulations.  In addition
to action by meeting in accordance with applicable laws, any action of the
Committee with respect to the Plan may be taken by a written instrument signed
by all of the members of the Committee, and any such action so taken by written
consent shall be as fully effective as if it had been taken by a majority of
the members at a meeting duly held and called. Subject to the terms of the
Plan, the Committee shall have full authority in its discretion to take any
action with respect to the Plan.  Without limiting the foregoing, the Committee
has full authority in its discretion to take any action with respect to the
Plan including but not limited to the authority (i) to determine all matters
relating to awards, including selection of individuals to be granted awards and
all terms, conditions, restrictions and limitations of an award; and (ii) to
construe and interpret the Plan and any instruments evidencing awards granted
under the Plan, to establish and interpret rules and regulations for
administering the Plan and to make all other determinations deemed necessary or
advisable for administering the Plan.  The Committee's authority to grant
awards and authorize payments under the Plan shall not in any way restrict the
authority of the Committee to grant compensation to employees under any other
compensation plan or program of the Corporation.  Any decision made, or
action taken, by the Committee in connection with the administration of the Plan
shall be final, binding and conclusive.  Notwithstanding the foregoing, the
Committee may delegate the administration of the Plan to one or more of its
designees (subject to any conditions imposed by the Committee), but only with
respect to matters which would not affect the deductibility under Code Section
162(m) of compensation paid under the Plan to "covered employees" (as such term
is defined in Code Section 162(m) and related regulations).  In the case of
any such delegation, references to the "Committee" herein shall include such
designee or designees, unless the context otherwise requires.  No member of
the Board or the Committee shall be liable for any action, determination or
decision made in good faith with respect to the Plan or any award paid under it. 
The members of the Board and the Committee shall be entitled to indemnification
and reimbursement in the manner provided in the Corporation's articles of
incorporation or by law. 

 

 

 

3.         Eligibility

            The Participants in the Plan (individually, a
"participant," and collectively, the "participants") shall
be those salaried employees of the Company who are designated from time to time
as participants by the Committee.  Eligible participants shall be selected to
participate on an annual or other periodic basis as determined by the
Committee.  With respect to those participants who are "covered
employees," such designation shall be made during the first 90 days of
each performance period and before 25% of the relevant performance period has
passed (or otherwise made at such time and on such terms as will ensure that
the award will, to the extent practicable, qualify as "performance-based
compensation" for purposes of Code Section 162(m)).  Participation in the
Plan for any one performance period does not guarantee that an employee will be
selected to participate in any other performance period.  (For the purposes of
the Plan, "performance period" shall mean a period established by the
Committee during which performance shall be measured to determine if any
payment will be made under the Plan. A performance period may be coincident
with one or more fiscal years of the Company, or a portion thereof.) 

4.        
Nature of Awards

Awards
granted under the Plan shall be in the form of cash bonuses.  

5.        
Awards

            (a)
    Grant of Awards:  At the time performance objectives are established for
a performance period as provided in Section 5(b) herein, the Committee also
shall assign to each participant a target cash bonus award applicable for the
particular performance period (each, a "target bonus").  A
participant's award, if any, shall be earned based on the attainment of written
performance objectives approved by the Committee for a specified performance
period, as provided in Section 5(b) herein.  In the case of awards granted to
covered employees, such performance objectives shall be established by the Committee
(i) while the outcome for the performance period is substantially uncertain,
and (ii) (A) no more than 90 days after the commencement of the performance
period to which the performance objective relates and (B) before 25% of the
relevant performance period has elapsed (or otherwise at such time and upon
such terms as to ensure that the award will, to the extent practicable, qualify
as "performance-based compensation" for purposes of Code Section 162(m)).  During
any fiscal year of the Company, no participant may be granted more than the
maximum award limitation stated in Section 5(c) herein.  The Committee may
adjust awards as appropriate for partial achievement of goals, exemplary effort
on the part of a participant and/or outside mitigating circumstances and may
also make necessary and appropriate adjustments in performance goals; provided,
however, that, except as may be otherwise provided in Section 6 and/or Section
7, no such adjustment shall be made to an award granted under the Plan to a participant
who is a "covered employee" if such adjustment would cause the award
to fail to qualify as "performance-based compensation" for purposes
of Code Section 162(m). 

 

           
(b)      Performance Objectives:  For each performance period, the Committee shall
establish one or more objective performance measures and specific goals for
each participant and/or for each group of participants.  The performance
objectives established by the Committee shall be based on one or more
performance measures that apply to the individual participant ("individual
performance"), the participant's business unit/function performance
("business unit/function performance"), the Company as a whole
("corporate performance"), or any combination of individual performance,
business unit/function performance or corporate performance.  If a
participant's performance goals are based on a combination of individual
performance, business unit/function performance and/or corporate performance,
the Committee may weight the importance of each type of performance that
applies to such participant by assigning a percentage to it.  In the case of
covered employees, the performance objectives shall be objective and shall be
based upon one or more of the following criteria: (i) objective goals for
revenue; (ii) gross margins; (iii) earnings per share; (iv) net bookings; (v)
module productions; (vi) consolidated earnings before or after taxes (including
earnings before interest, taxes, depreciation and amortization); (vii) net
income; (viii) operating income; (ix) book value per share; (x) return on
shareholders' equity; (xi) return on investment; (xii) return on capital;
(xiii) improvements in capital structure; (xiv) expense management; (xv)
profitability of an identifiable business unit or product; (xvi) maintenance or
improvement of profit margins; (xvii) stock price or total shareholder return;
(xviii) market share; (xix) revenues or sales; (xx) costs; (xxi) cash flow;
(xxii) working capital; (xxiii) return on assets; (xxiv) economic wealth
created, and/or (xxv) strategic business criteria, based on meeting specified
goals or objectives related to market penetration, geographic business
expansion, cost targets, customer satisfaction, employee satisfaction,
management of employment practices and employee benefits, supervision of
litigation and information technology, goals relating to acquisitions or
divestitures of subsidiaries, affiliates or joint ventures, quality matrices,
customer service matrices and/or execution of pre-approved corporate strategy. 
In addition, with respect to participants who are not covered employees, the
Committee may approve performance objectives based on other criteria, which may
or may not be objective.   The foregoing criteria may relate to the Company,
one or more of its affiliates or one or more of its divisions, units,
partnerships, joint venturers or minority investments, product lines or
products or any combination of the foregoing. The targeted level or levels of
performance with respect to such business criteria may be established at such
levels and in such terms as the Committee may determine, in its discretion,
including but not limited to on an absolute basis, in relation to performance
in a prior performance period, and/or relative to one or more peer group
companies or indices, or any combination thereof. In addition, the performance
objectives may be calculated without regard to extraordinary items, except as
may be limited under Code Section 162(m)
in the case of a covered employee.

        (c)     
Earning of Awards:  As soon as practicable after the end of the
performance period, the Committee shall determine whether the performance goals
for the performance period were achieved and, if so, at what level of
achievement under specific formulae established for the performance period.  
If the performance goals were met for the performance period, the Committee
shall determine the amount, if any, of the award earned by each participant and
such award shall be paid in accordance with Section 5(e) herein (subject,
however, to the limitation on awards stated in Section 5(d) herein).

        (d)     
Maximum Award Payable to Any
One Participant: Other provisions of
the Plan notwithstanding, the maximum amount of cash bonus awards that may be
granted under the Plan to any one participant in any one fiscal year shall not
exceed $5,000,000.  

       
 

               
         (e)     
Payment of Awards:  An award earned
by a participant with respect to a performance period shall be paid to him as
soon as practicable following the determination of the amount of the award and,
with respect to participants who are covered employees, the Committee's written
certification that the participant achieved his performance goals.  Without
limiting the foregoing, awards payable under the Plan shall be paid no later
than the later of (i) the date that is 2-1⁄2 months after the end of the
participant's first taxable year in which the amount is no longer subject to a
substantial risk of forfeiture, or (ii) 2-1⁄2 months after the end of the
Company's first taxable year in which the amount is no longer subject to a
substantial risk of forfeiture, or shall otherwise be structured in a manner to
be exempt from, or in compliance with, Code Section 409A.  Notwithstanding the
foregoing, when the Company reasonably anticipates that any deduction for its
payment would be limited or eliminated by Code Section 162(m), such payment
will be delayed until the earlier of when the Company reasonably anticipates
that the deduction will not be limited or eliminated by Code Section 162(m) or
the calendar year in which the participant separates from service or otherwise
structured to comply with Code Section 409A, related regulations and other
guidance.  The Committee shall not have any discretion to increase the amount
of an award earned and payable pursuant to the terms of the Plan to any
participant who is a covered employee (except to the extent otherwise provided
pursuant to Section 7 herein in the event of a change of control ).  The
Committee shall have the discretion to reduce or eliminate the amount of an
award otherwise earned and payable pursuant to the terms of the Plan to any
participant.  

6.        
Termination of Employment and
Other Events; Covenants

The Committee shall
specify the circumstances in which awards shall be paid or forfeited in the
event of termination of employment by the participant or other event prior to
the end of a performance period or prior to payment of such awards. Unless
otherwise determined by the Committee, if a participant dies, retires, is
assigned to a different position, is granted a leave of absence, or if the
participant's employment is otherwise terminated (except for cause by the
Company) during a performance period, a pro rata share of the participant's
award based on the period of actual participation may, at the Committee's
discretion, be paid to the participant after the end of the performance period
if it would have become earned and payable had the participant's employment
status not changed. The Committee may require a participant, as a condition to
the grant or payment of an award, to have entered into agreements or covenants
with the Company obligating the participant to not compete, to not interfere
the relationships of the Company with customers, suppliers or employees in any
way, to refrain from disclosing or misusing confidential or proprietary
information of the Company, and to take or refrain from taking such other
actions adverse to the Company as the Committee may specify. The form of such
agreements or covenants shall be specified by the Committee, which may vary
such form from time to time and require renewal of the agreements or covenants,
as then specified by the Committee, in connection with the allocation or payout
of any award.  For the purposes herein, termination for "cause" shall
mean termination for cause under the terms of any employment, consulting,
change in control or similar agreement if any, between the Company and the
participant, or, if none, "cause" shall have the meaning ascribed to
such term under the Company's 2003 Stock Incentive Plan (as it may be amended)
or any other applicable stock plan.

7.         Change of Control

               
 

           
 

              
 

            (a)     
Notwithstanding any other
provision in the Plan to the contrary, and except as may be otherwise provided
in Section 7(b) herein, in the event of a change of control (as defined in Section 7(c)), all awards
granted pursuant to the Plan shall be deemed to be earned based on the
assumption that any applicable performance goals were met in full (100%);
provided, however, that the amount of any such bonus shall be reduced on a pro
rata basis, so that the participant shall only receive a pro rata portion of
the bonus for each completed month of the applicable performance period which
had elapsed when the change of control occurred.  By way of example (and not
limitation), if (i) a participant would have been entitled to a $100,000 bonus
based on attainment of 100% of applicable performance goals during a 12-month
performance period, and (ii) a change of control occurs during the seventh
month of the performance period, the participant shall be entitled to a $50,000
bonus (one-half of the $100,000 bonus that would otherwise have been payable if
the full performance period had elapsed), treating any applicable performance
goals as being fully met. In the event of a change of control, any bonuses
payable under Section 7 (whether payable pursuant to Section 7(a) or Section
7(b) herein) shall be immediately due and payable, without regard to whether
such bonuses are deductible under Code Section 162(m) and without regard to
whether the participant continues in service in the same position following the
change of control, has a change in position or responsibility, or is terminated
from employment with the Company (or successor or surviving corporation).  In
addition, without in any way limiting the preceding, in the event that a
participant has entered into a change in control agreement or similar agreement
with the Company, the participant shall be entitled to the greater of the
benefits payable upon a change of control of the Company pursuant to Section
7(a) or Section 7(b) herein or the respective change in control agreement or
similar agreement, and such change in control agreement or similar agreement
shall not be construed to reduce in any way the benefits otherwise payable to a
participant upon the occurrence of a change of control as defined in the Plan.

           
(b)    
Notwithstanding the provisions of
Section 7(a), in the event that a "change of control" (as defined in
Section 7(c) herein) occurs, the Committee may, in its sole and absolute
discretion, determine that any or all awards granted pursuant to the Plan shall
not be payable on a pro rata basis as provided in Section 7(a) herein but shall
instead be deemed to be earned up to 100% and treated as if up to 100% of all
applicable performance goals for up to 100% of the applicable performance
period were met (in which case such awards shall become immediately due and
payable for the full performance period, notwithstanding the date of the change
of control event during the performance period or the deductibility of awards
under Code Section 162(m)), if the Corporation or the surviving or acquiring
corporation, as the case may be, shall not have taken such action, including
but not limited to the assumption of awards granted under the Plan or the grant
of substitute awards (in either case, with substantially similar terms or
equivalent economic benefits as awards granted under the Plan), as in the
opinion of the Committee is equitable or appropriate to protect the rights and
interests of participants under the Plan. Any payments made pursuant to this
Section 7(b) may not be less than the amount of pro rata bonus payments that
would otherwise be payable under Section 7(a) herein.  For the purposes herein,
assuming that the Committee is acting as the Plan administrator authorized to
make the determinations provided for in this Section 7(b), the Committee shall
be appointed by the Board of Directors, two-thirds of the members of which
shall have been directors of the Corporation prior to the merger, share
exchange, reorganization or other business combinations affecting the
Corporation or a related entity.

            (c)     
For the purposes herein, for each
participant, a "change of control" shall have the definition given
the term "change in control" in the participant's change in control
agreement with the Company, or, if the participant has not entered into a
change in control agreement with the Company, then a "change of
control" shall be deemed to have occurred on the earliest of the following
dates: 

                      (i)      The date any entity or person
shall have become the beneficial owner of, or shall have obtained 

                               voting
control over, fifty-one percent (51%) or  more of the outstanding Common Stock
of the 

                               Corporation;

                     (ii)      The date the shareholders of the
Corporation approve a definitive agreement (A) to merge or 

                               consolidate the
Corporation with or into another corporation in which the Corporation is not

                               the continuing or surviving corporation or pursuant to which any shares of
Common Stock 

                               of the Corporation would be converted into cash, securities or
other property of another 

                               corporation, other than a merger or consolidation of
the Corporation in which holders

                
              of Common Stock immediately prior to the
merger or consolidation have the same proportionate 

                               ownership of Common Stock
of the surviving corporation  immediately after the merger as 

                               immediately before,
or (B) to sell or otherwise dispose of all or substantially all the assets of

                              
the Corporation; or

                    (iii)      The date there shall have been a
change in a majority of the Board within a 12-month period 

                               unless the
nomination for election by the Corporation's shareholders of each new director
was 

                               approved by the vote of two-thirds of the directors then still in office
who were in office at the

                 
             beginning of the 12-month period.

(For
purposes herein, the term "person" shall mean any individual,
corporation, partnership, group, association or other person, as such term is
defined in Section
13(d)(3) or Section
14(d)(2) of the Exchange Act, other than the Corporation, a subsidiary of the
Corporation or any employee benefit plan(s) sponsored or maintained by the
Corporation or any subsidiary thereof, and the term "beneficial
owner" shall have the meaning given the term in Rule 13d-3 under the
Exchange Act.)

8.        
No Right to Employment

Nothing
contained in this Plan or any action taken pursuant
to the Plan shall be construed as conferring upon any participant the right or
imposing upon him the obligation to continue in the employment of or service to
the Company, nor shall it be construed as imposing upon the Company the
obligation to continue the employment or service of a participant.  Except as
may be otherwise provided in the Plan or determined by the Committee, all
rights of a participant with respect to an award and distribution of any cash
payment subject to an award shall terminate and be forfeited upon a
participant's termination of employment or service with the Company. 

9.         Amendments 

The
Board of Directors of the Company may amend, discontinue or terminate the Plan in whole or in part at any time,
provided that (a) approval of an amendment to the Plan by the shareholders of
the Corporation shall be required to the extent, if any, that shareholder
approval of such amendment is required by applicable laws, rules or
regulations; and (b) except as otherwise provided in Section 5(e), no such
amendment, discontinuance or termination of the Plan shall adversely affect any
award earned and payable under the Plan as of the date of such amendment or
termination without the participant's consent.  However, notwithstanding the
foregoing, the Committee shall have unilateral authority to amend the Plan and
any award (without participant consent) to the extent necessary to comply with
applicable laws, rules or regulations or changes to applicable laws, rules or
regulations (including but in no way limited to Code Section 162(m) and Code Section
409A, related regulations and other guidance).

10.       
Effective Date

The Plan shall become effective on June 1, 2006, subject
to the approval by the shareholders of the Company as required by Code Section 162(m) and related regulations.  To the
extent required under Code Section 162(m), awards under the Plan granted prior
to such shareholder approval shall be conditioned upon and shall be payable
only upon approval of such performance criteria by the shareholders of the
Company in accordance with the requirements of Code Section 162(m).  

11.       
Miscellaneous

            (a)    
Taxes; Offset: Any tax required to be withheld by any government
authority shall be deducted from each award.  The Committee, in its sole
discretion (but subject to applicable law), may apply any amounts payable to
any participant hereunder as a setoff to satisfy any liabilities owed to the
Company by the participant.

            (b)   
Nonassignability: Unless the Committee determines otherwise, awards
and any other rights under the Plan shall not be subject to anticipation, alienation,
pledge, transfer or assignment by any person entitled thereto, except by
designation of a beneficiary or by will or the laws of intestate succession.

            (c)   
 No Trust; Unfunded Plan:  The obligation of the Company to make payments
hereunder shall constitute a liability of the Company to the participants. 
Such payments shall be made from the general funds of the Company, and the
Company shall not be required to establish or maintain any special or separate
fund, or otherwise to segregate assets to assure that such payments shall be
made, and neither the participants nor their beneficiaries shall have any
interest in any particular assets of the Company by reason of its obligations
hereunder.  Nothing contained in this Plan shall create or be construed as creating
a trust of any kind or any other fiduciary relationship between the Company and
the participants or any other person or constitute a guarantee that the assets
of the Company shall be sufficient to pay any benefits to any person.  To the
extent that any person acquires a right to receive payments from the Company
hereunder, such right shall be no greater than the right of an unsecured
creditor of the Company.  

            (d)   
 Impact of Plan Award on other
Plans:  Awards granted pursuant to
the Plan shall not be treated as compensation for purposes of any other
compensation or benefit plan, program or arrangement of the Company, unless
either (i) such other plan, program or arrangement provides that compensation
in the form of awards payable under the Plan are to be considered as
compensation thereunder, or (ii) the Committee so determines.  The adoption of
the Plan shall not affect any other incentive or other compensation plans or
programs in effect for the Company, nor shall the Plan preclude the Company
from establishing any other forms of incentive or other compensation for
employees of the Company.

            (e)    
Facility of Payments: If a participant or any other person entitled to
receive an award under this Plan (the "recipient") shall, at the time
payment of any such amount is due, be incapacitated so that such recipient
cannot legally receive or acknowledge receipt of the payment, then the
Committee, in its sole and absolute discretion, may direct that the payment be
made to the legal guardian, attorney-in-fact or person with whom such recipient
is residing, and such payment shall be in full satisfaction of the Company's
obligation under the Plan with respect to such amount.

            (f)    
Beneficiary Designation: The Committee may permit a participant to designate
in writing a person or persons as beneficiary, which beneficiary shall be
entitled to receive settlement of awards, if any, to which the participant is
otherwise entitled in the event of death. In the absence of such designation by
a participant, and in the event of the participant's death, the estate of the
participant shall be treated as beneficiary for purposes of the Plan, unless
the Committee determines otherwise.   The Committee shall have sole discretion
to approve and interpret the form or forms of such beneficiary designation.

            (g)    Governing Law: The Plan shall be construed and its provisions
enforced and administered in accordance with the laws of the State of North Carolina, without regard to the principles of conflicts of laws, and in accordance
with applicable federal laws.

            (h)    
Compliance with Code Section 162(m): The
Company intends that compensation under the Plan payable to covered employees
will, to the extent practicable, constitute qualified "performance-based
compensation" within the meaning of Code Section 162(m) and related regulations, unless
otherwise determined by the Committee. Accordingly, the provisions of the Plan
shall be administered and interpreted in a manner consistent with Code Section 162(m) and related
regulations.  If any provision of the Plan or any award that is granted to a
covered employee (in each case, other than payments to be made pursuant to
Section 6 and/or Section 7 herein) does not comply or is inconsistent with the
requirements of Code Section
162(m) or related regulations, such provision shall be construed or deemed
amended to the extent necessary to conform to such requirements.

            (i)    
Adjustments: The Committee is authorized at any time during or
after the completion of a performance period, in its sole discretion, to adjust
or modify the terms of awards or performance objectives, or specify new awards,
(i) in the event of any large, special and non-recurring dividend or
distribution, recapitalization, reorganization, merger, consolidation,
spin-off, combination, repurchase, share exchange, forward or reverse split,
stock dividend, liquidation, dissolution or other similar corporate
transaction, (ii) in recognition of any other unusual or nonrecurring event
affecting the Company or the financial statements of the Company (including
events described in (i) above as well as acquisitions and dispositions of
businesses and assets and extraordinary items determined under generally
accepted accounting principles), or in response to changes in applicable laws
and regulations, accounting principles, and tax rates (and interpretations
thereof) or changes in business conditions or the Committee's assessment of the
business strategy of the Company. Unless the Committee determines otherwise, no
such adjustment shall be authorized or made if and to the extent that the
existence of such authority or the making of such adjustment would cause awards
granted under the Plan to covered employees whose compensation is intended to
qualify as "performance-based compensation" under Code Section 162(m) and
related regulations to fail to so qualify.

            (j)   
Compliance with Code Section
409A:  Notwithstanding any other
provision in the Plan or an award to the contrary, if and to the extent that
Code Section 409A is deemed to apply to the Plan or any award granted under the
Plan, it is the general intention of the Company that the Plan and any such
award shall, to the extent practicable, be construed in accordance therewith. 
Deferrals pursuant to an award otherwise exempt from Code Section 409A in a
manner that would cause Code Section 409A to apply shall not be permitted
unless such deferrals are in compliance with Code Section 409A.  Without in any
way limiting the effect of the foregoing, in the event that Code Section 409A
requires that any special terms, provision or conditions be included in the
Plan or any award, then such terms, provisions and conditions shall, to the
extent practicable, be deemed to be made a part of the Plan and/or award, as
applicable.  Further, in the event that the Plan or any award shall be deemed
not to comply with Code Section 409A, then neither the Company, the Board, the
Committee nor its or their designees or agents shall be liable to any
participant or other persons for actions, decisions or determinations made in
good faith. 

            (k)   
Restrictions on Awards:  Notwithstanding any other Plan provision to the
contrary, the Company shall not be obligated to make any distribution of
benefits under the Plan or take any other action, unless such distribution or
action is in compliance with applicable laws, rules and regulations (including
but not limited to applicable requirements of the Code).  

            (l)    
Gender and Number:  Where the context admits, words in any gender shall
include any other gender, words in the singular shall include the plural and
words in the plural shall include the singular.

           (m)    
Severability:  If any provision of the Plan shall be held illegal or
invalid for any reason, such illegality or invalidity shall not affect the
remaining parts of the Plan, and the Plan shall be construed and enforced as if
the illegal or invalid provision had not been included.

            (n)    
Binding Effect:  The Plan shall be binding upon the Company, its
successors and assigns, and participants, their legal representatives,
executors, administrators and beneficiaries.  

            This RF Micro
Devices, Inc. Cash Bonus Plan has been executed in behalf of the Company
effective as of the 1st day of June, 2006.

                                                                                    RF
MICRO DEVICES, INC. 

                                                                                    By:
/s/ Robert A. Bruggeworth              

                                                                                          Chief
Executive Officer

Attest:

/s/ William A. Priddy, Jr.           

Secretary/Asst.
Secretary

[Corporate Seal]EXHIBIT
10.8

RF MICRO DEVICES, INC.

CODE OF BUSINESS CONDUCT AND ETHICS

 

Ethics and Employee Responsibility

Good ethics means good business.

The trust and respect of all people - fellow workers, customers,
shareholders, suppliers, competitors and the general public - are valuable
assets that cannot be purchased, but must be earned.  Once earned, trust and
respect become the cornerstone of continuing relationships and will preserve
our reputation for integrity.  Therefore, it is the policy of RFMD that every
action we take as a company, and every action our employees, officers and
directors take on our behalf, should conform to the highest ethical, moral, and
legal standards.

RFMD firmly believes that when people have pride in the company they
work for, they will make sure their conduct reflects well on the company.  To
instill this pride and to help us operate the kind of business we all want to
be a part of, we maintain a set of basic expectations for our employees:

•           We expect our employees to be honest and
fair in all their business dealings, with both fellow employees and people
outside the organization.

•           We expect our employees to focus on
customer service and to promote excellent relationships with our suppliers.

•           We expect our employees to understand and
work hard to achieve our company goals.

•           We expect our employees to meet the highest
ethical standards in all company activities.

Our Board of Directors has adopted this Code of Business Conduct and
Ethics as a guide to help us live up to our company's high ethical standards. 
This Code does not cover every issue that may arise, but it establishes
principles that should guide you in a wide range of business settings.  Every
employee should become familiar with the Code and comply with it, since one
person's misconduct can damage our hard-earned reputation and compromise the
public's trust in RFMD.

When you apply the general principles described in this Code, please
consider these practical questions with respect to your particular decision or
situation:

	What
     is in RFMD's best interest?
	What
     RFMD policies and practices are relevant?
	How
     would I feel about explaining my actions to a trusted relative or friend
     outside of RFMD?
	How
     would I feel if an account of my actions were reported on local television
     or in the newspaper?  
	Would
     a reasonable person think my actions were honest and fair?
	What
     laws and regulations - U.S. and foreign - apply to this decision or
     situation?

1

Even after you have considered these questions, you may be unsure about
what to do.  If you have any concerns or questions about how this Code might
apply to you, you should contact your supervisor or our Compliance Officer. 
The Compliance Officer is Suzanne Rudy, 7628 Thorndike Road, Greensboro, NC 27409-9421 (tel.: 336-931-7112), and the Compliance Officer's e-mail address is
complianceofficer@rfmd.com. 

Scope and Application of this Code

When this Code refers to "employees," the term includes the employees,
officers, directors, agents and representatives (including consultants,
advisors and independent contractors) of RFMD and its subsidiaries.  Likewise,
references in this Code to our company or RFMD also cover our subsidiaries.

This Code governs your conduct as an employee and requires you to avoid
even the appearance of improper behavior.  Even well-intentioned actions that
violate the law or our standards of conduct may result in appropriate
disciplinary action, including termination.  If you are in a situation that
you believe may violate or lead to a violation of this Code, follow the
guidelines described below under the heading "Reporting of Code Violations." 
It is also your responsibility to report violations of this Code by others. 
Any person who we determine has violated this Code may be subject to
discipline, up to and including termination.

We will ask our employees to read this Code and agree in writing to
comply with it, and we will remind all employees periodically about their
obligations under this Code.

Compliance with Laws and Regulations

The foundation of our ethical standards is obedience to the letter and
spirit of the law.  All employees must respect and obey all local, state and
federal statutes and regulations and the statutes and regulations of any
countries in which we do business.  You should seek advice from your supervisor
or the Compliance Officer if you have questions about such laws, especially
when dealing with governments of countries or territories outside of the United States.

            Insider Trading Laws

It is the policy of RFMD that you must comply with our Policy Statement
on the Prevention of Insider Trading, which, among other things, provides that
you may not seek to benefit personally by buying or selling securities while in
possession of material, nonpublic information that you have
learned in connection with your employment with, or service to, RFMD.  Every
new employee is required to acknowledge our Policy Statement, and you may
obtain a copy of it on our intranet.   

            Doing Business with Governments

It is our policy to comply fully with all applicable laws and
regulations governing dealings with government employees and public officials. 
If you have any questions about compliance with these laws and regulations,
contact your supervisor or the Compliance Officer.

Both RFMD policy and the Foreign Corrupt Practices Act
prohibit bribery of public officials in the conduct of our business in the United States and abroad.  Bribery can take many forms, including the payment of money or
anything else of value (such as "in-kind" items or services).  If anyone
requests that RFMD pay a bribe, you must report it immediately to your
supervisor or the Compliance Officer.  

2

            Fair Dealing

Antitrust laws, also known outside the United States as "competition laws," are designed to ensure a fair and competitive free
market system.  While we will compete vigorously in the marketplace, we will
also comply with the applicable antitrust and competition laws wherever we do
business.  This means that we will compete on the merits of our services and
products, the prices we charge and the customer loyalty we earn.  

Some of the most serious antitrust offenses occur
between competitors when they agree to fix prices or divide customers,
territories or markets.  You must not talk with competitors about confidential
pricing, contract terms and conditions, costs, marketing or production plans,
customers and any other proprietary information without seeking prior guidance
and approval from your supervisor or the Compliance Officer.  Enforceable
agreements can arise as a result of "loose talk," informal discussions or the
mere exchange of certain information.  If you believe that a conversation with
a competitor has entered an inappropriate area, end the conversation at once
and contact your supervisor or the Compliance Officer.  

In addition, we will comply with the applicable unfair
trade practices laws wherever we do business.  You should not take unlawful
advantage of our customers, suppliers, competitors or employees through
manipulation, deception, concealment, abuse of privileged information,
misrepresentation of material facts or any other unlawful practice.  If you
have a question about whether conduct violates laws prohibiting unfair trade
practices, you should contact your supervisor or the Compliance Officer.  

We must comply with applicable trade restrictions and boycotts imposed
by the U.S. government, as well as with U.S. anti-boycott laws that prohibit
companies from participating in any international boycott not sanctioned by the
U.S. government.  The mere receipt of a request to engage in any such
boycotting activity becomes a reportable event by law.  You should bring such
requests to the attention of your supervisor or the Compliance Officer.

Success in a highly competitive business like ours demands an
understanding of competitors' strategies.  While collecting data on our
competitors, you may use all legitimate resources, but you must avoid illegal
or unethical conduct.  You should not use employees of competitors or suppliers
as a source of nonpublic information.  You should consult your supervisor or
the Compliance Officer if you need further guidance in this area.

Conflicts of Interest

A "conflict of interest" exists any time you face a choice between what
is in your personal interest (financial or otherwise) and the interest of
RFMD.  Such situations are not always easy to avoid.  When a conflict of
interest arises, it is important that you be careful to avoid even the
appearance that your actions are not in our best interest.  If you are in a
position where your objectivity may be questioned because of an actual or
apparent conflict between the interests of RFMD and your individual interests
or family or personal relationships, notify your supervisor or the Compliance
Officer immediately.  

Conduct or activities that involve a conflict of interest violate this
Code unless they are approved in advance.  The Governance and Nominating
Committee must provide the approval if the conduct or activity involves an
officer at the level of Vice President or above, unless the rules of the
Securities and Exchange Commission or The Nasdaq Stock Market require the Board
of Directors, or the Audit Committee, or both, to provide the approval.  In all
other cases, the Compliance Officer is authorized to handle approvals.   

3

It is not possible to list every activity that might present an actual
or apparent conflict of interest.  However, the following are examples of
conduct or activities that would violate this Code unless approved in
advance as described above:

1.         Participation by
an employee or a family member in a business transaction involving RFMD and
another entity or an individual with whom the employee (or his family) has a
financial relationship;

2.         The use for
personal gain by employees (or their family members) of any confidential or
proprietary information obtained as a result of their relationship with RFMD
(for example, patents, trade secrets or other confidential business
information); 

3.         Supervising an
employee who is a family member where the supervisor has authority with regard
to such matters as work assignments, compensation or promotions;

4.         Owning a
direct or indirect financial interest in any company that is a competitor,
customer, supplier or business partner where the employee can influence our
decision whether to do business with such company (although despite this
prohibition an employee may own up to 1% of the stock of a publicly held
competitor, customer, supplier or business partner or may own a limited
partnership interest or similar passive investment in a private equity or
venture fund that in turn owns stock of a competitor, customer, supplier or
business partner);

5.         Having an
outside business or other interest that would impair the employee's ability to
perform his duties;

6.         Receipt by an
employee or family member of improper personal benefits as a result of the
employee's position in RFMD (loans to or guarantees for the benefit of such
persons are of particular concern);

7.         Serving as an
employee, consultant or member of the board of directors (or of a technical,
scientific or similar advisory board) of a competitor, customer, supplier or
business partner unless directed to do so by our Board of Directors (employees
should avoid any direct or indirect business connection with our competitors,
customers, suppliers or business partners, except on behalf of RFMD); 

8.         Accepting cash compensation or stock, stock
options or other stock-based compensation from another company where the
employee is serving, at our request, on the board of directors of the company
or in another advisory capacity, unless our Board of Directors approved such
compensation in connection with our requesting the employee to serve;

9.         Conducting
personal business or affairs on company time or using our facilities and
equipment for personal business, except where meeting with a third party on our
premises serves the convenience of an officer of RFMD or promotes an officer's
charitable or civic cause and in any event does not interfere with the
performance of the officer's duties; 

10.       Accepting employment outside of RFMD that
interferes with the proper performance of the employee's job at RFMD or puts
the employee in a situation where confidential information of RFMD could be used
or discovered; or

4

11.       Accepting directed shares in a stock offering by a
competitor, customer, supplier or business partner pursuant to a "friends and
family" program or arrangement.

These are just a few examples.  The key to the
successful handling of any actual or potential conflict of interest is to
disclose it as soon as you discover it.  If you have any doubt about whether
you have a conflict of interest, you should discuss it with your supervisor or
the Compliance Officer.  

We may periodically ask you to sign a formal statement
about whether you are aware of possible conflicts of interest.  You are
required to respond to these requests promptly and candidly.  We will treat
your responses as confidential unless we are required to disclose the information
by law or court order or the best interests of the company require disclosure. 

Service on Other Boards

From time to time you might be asked to serve as a
member of the board of directors or as a member of a technical, scientific or
similar advisory board of another company.  This Code prohibits you from
serving in such capacity with a competitor, customer, supplier or business
partner.  In addition, our policy prohibits you from serving in such capacity
for any other for-profit enterprise without first obtaining the approval of the
Chairman of the Board and the Chief Executive Officer.  (Members of the RFMD
Board are required only to notify the Chairman of the Board and the
Chief Executive Officer if they are asked to serve on a board described in the
preceding sentence.)  This prohibition does not apply to service on the board
of charitable, educational or other non-profit organizations.    

Entertainment, Favors and Gifts 

Business gifts and entertainment are customary courtesies designed to
build goodwill among business partners.  These courtesies include such things
as gift items, meals and beverages, tickets to sporting or cultural events,
discounts not available to the general public, travel, accommodations and other
services.  A problem may arise when such courtesies compromise - or appear to
compromise - our ability to make objective and fair business decisions.  The
same concerns apply to employees offering gifts and entertainment to our
business associates.    

Accordingly, it is our policy to prohibit the giving or accepting of
gifts and courtesies for business purposes having greater than a nominal value,
other than reasonable hospitality given in the ordinary course of business,
without the approval of your supervisor.  Courtesies that are repetitive (no
matter how small) may be perceived as an attempt to make the recipient
obligated to the giver and are therefore inappropriate.  Likewise, business
entertainment should be moderately scaled and intended only to facilitate
business goals.  This prohibition applies at all times and does not change
during traditional gift-giving seasons.  Use good judgment in all gift and
entertainment situations.  

Corporate Opportunities

You are prohibited from taking personal advantage of business opportunities
that you discover through your position with RFMD.  You are also prohibited
from competing with the company, directly or indirectly, and from using
corporate property or corporate information for improper personal gain.  

Confidentiality

5

Information generated in our business is a valuable company asset. 
Protecting the information plays a vital role in our continued growth and
ability to compete.  Confidential information includes all nonpublic
information that might be of use to competitors, or harmful to us or our
customers if disclosed.  Examples of such information are inventions, invention
records, processes, ideas, data, computer programs, developments, designs, test
results, models, simulations, semiconductor mask layout drawings, engineering
records and reports, production drawings, engineering drawings, board layout
drawings, raw material specifications and lists, product specifications,
marketing plans, business plans, customer lists, budgets, product prices,
financial projections, financial statements, new product plans and other
information owned by us that is not public information.  

Confidential information also includes similar information you obtain
in the course of your employment that is owned by third parties and was
disclosed to us subject to non-disclosure agreements or similar restrictions on
use or further disclosure.  

Employees who have access to proprietary and confidential information
are obligated to safeguard it from unauthorized access and:

            1.         Not disclose this information to outsiders;

2.         Not use this
information for personal benefit or the benefit of outsiders; and

3.         Not share this
information with other employees except on a legitimate "need to know" basis.

Written approval from your supervisor or the Compliance Officer is
required before this information can be released to outsiders.  This includes
speeches, technical papers for publications, references, endorsements of other
products and services and information we have received from other companies under
an obligation of confidentiality.

Any information created in the course of your employment with or
service to RFMD belongs to us.  Employees leaving RFMD must return all
proprietary information in their possession.  Your obligation to protect proprietary
and confidential information continues even after you leave RFMD.

When you joined RFMD you signed an Inventions, Confidentiality and
Nonsolicitation Agreement or similar contract requiring you to protect the
confidentiality of the information referred to above and acknowledging RFMD's
ownership of any inventions relating to our business.  This agreement remains
in effect for as long as you work for RFMD and after you leave our employ.   

Financial Integrity and Disclosure

We require honest and accurate recording and reporting of information
in order to make responsible business decisions.  Business records must always
be prepared accurately and reliably and stored properly.  Our books, records
and accounts must reflect all of our transactions and all other events that are
the subject of a specific regulatory record-keeping requirement.  

In addition, full, fair, accurate and timely disclosure in our periodic
reports is required and essential to the success of our business.  Our
employees must exercise the highest standard of care in preparing such reports
in accordance with the following guidelines:

1.         All accounting
records, as well as reports produced from those records, must be in accordance
with the laws of each applicable jurisdiction;

6

            2.         All records must fairly and accurately reflect the
transactions or occurrences to which they relate;

3.         All records must
fairly and accurately reflect, in reasonable detail, our assets, liabilities,
revenues and expenses;

4.         Our accounting
records must not contain any false or intentionally misleading entries;

5.         No transactions
should be intentionally misclassified as to accounts, departments or accounting
periods;

6.         All transactions
must be supported by accurate documentation in reasonable detail and recorded
in the proper account and in the proper accounting period;

7.         No information
should be concealed from the internal auditors or the independent auditor; and

8.         Compliance with
our system of internal accounting controls is required.

The Chief Executive Officer, Chief Financial Officer,
Principal Accounting Officer or Controller and Treasurer (the "Senior Financial
Officers") of RFMD have overall responsibility for assuring full, fair,
accurate, timely and understandable disclosure of relevant financial
information to shareholders and investors.  In particular, they are responsible
for assuring that we comply with rules of the SEC governing disclosure of
financial information and for assuring that press releases and communications
with investors and securities analysts are fair and accurate. Among other
things, the Senior Financial Officers shall:

1.         Establish and maintain procedures designed
to ensure internal control over financial reporting and disclosure controls and
procedures designed to assure that financial information is recorded,
processed, summarized and reported to those responsible for preparing periodic
reports and other public communications and to assure our reports and
communications are complete, accurate and timely.

2.         Oversee the appropriate personnel to help
ensure that the procedures to ensure internal control over financial reporting
and disclosure controls and procedures are being followed.

3.         Carefully review each periodic report for
accuracy and completeness before it is filed with the SEC and carefully review
each public communication containing financial information before it is
released.

4.         Promptly disclose to their superiors, and
if necessary to the Audit Committee of the Board of Directors and our
independent registered public accounting firm, any material weaknesses in, or
concerns regarding, our disclosure controls and procedures or internal control
over financial reporting.

5.         Never create or maintain secret or
unrecorded funds, assets, or accounts, or intentionally make a payment or
approve an invoice, expense report or other document that is incorrect,
misleading or inaccurate.

7

The Senior Financial Officers are also subject to additional guidelines and
restrictions that are set forth in the "Code of Ethics for Senior Financial
Officers of RF Micro Devices of RF Micro Devices, Inc.," which is available upon
request from the Compliance Officer and is accessible on RFMD's corporate
website, www.rfmd.com.

Employment Practices

To recruit and retain high-caliber employees who share
our values, our employment practices are designed to provide an environment
that encourages you to comply with this Code, be respectful of our employees,
customers and other business partners and perform your duties with fairness,
honesty, integrity and professionalism.  

It is our policy to hire, evaluate and promote
employees on the basis of their ability, achievements, experience and
performance.  Accordingly, we will provide equal opportunity for all in
recruitment, career development, promotion and compensation without regard to
age, color, non-disqualifying disability, gender, national origin, race,
marital status, veteran status, religion or any other basis that is protected
under applicable law.

Ethnic, racial, religious, sexual or any other type of
unlawful harassment is unacceptable.  Inappropriate or unwelcome sexual
behavior, either physical or verbal in nature, that interferes with and
obstructs performance in the workplace violates our policy.  To provide an
environment that is conducive to productivity and personal growth, we prohibit
illegal workplace harassment of any kind, whether the harasser or the victim is
a co-worker, supervisor, agent, customer, guest or supplier.  Our policy also
prohibits retaliation against anyone who has made a harassment complaint.

If you believe you or another employee has experienced
harassment, immediately report the incident by following the procedures
provided below under the heading "Reporting of Code Violations."  We will
promptly investigate an alleged harassment complaint and remedy the situation
when a violation of our policy can be substantiated.

The laws affecting employment practices are complex
and constantly evolving.  It is critical that each supervisor maintain
awareness of current legal developments and our employment policies by seeking
appropriate advice of those within RFMD who are responsible for keeping abreast
of such legal developments or employment policies.

Health and Safety  

Our employees constitute our most indispensable
asset.  Our policy is to maintain a drug-free, secure workplace where all
employees are attentive to hazard prevention and the avoidance of accidents and
injuries.  We are committed to protecting your health and safety and that of
our customers, suppliers and visitors.  

Safety protection is a condition of employment for all
employees.  You are accountable for your own safety and the safety of those
around you.  No deviations from our safety practices or procedures are
permitted without the approval of the appropriate company personnel.  You
should report to work in a condition to properly perform your duties, free from
the influence of drugs or alcohol.  Violence and threatening behavior will not
be tolerated.  

8

You are responsible for reporting accidents, injuries
and unsafe equipment, practices or conditions.  If you violate applicable legal
requirements or our policy related to health and safety, or if you
intentionally fail to prevent violations or take reasonable corrective action,
you will be subject to appropriate disciplinary action, including termination.

Communications

We are committed to conducting business honestly.  All
communications, whether internal or external, should be accurate, complete and
forthright.  These communications may include, for example, general internal
reports, media releases, marketing and sales brochures, regular reports and
government filings.

We will provide accurate information when promoting
our products and services.  False or misleading claims concerning our products
and services or those of our competitors are unacceptable.  These same
principles must be adhered to when responding to inquiries from customers,
fellow employees, the media, governmental regulatory agencies and
shareholders.  Responses to such inquiries must be made in accordance with our
policies and procedures (for instance, through a designated corporate
communications officer).

Our policy prohibits employees from making any
malicious or defamatory statement about any other person or company, including
a competitor.

Protection and Proper Use of Company Assets

Each employee is a steward of our assets.  As such, you are obligated
to protect and preserve our assets and resources and assist us in our efforts
to control costs and ensure the efficient use of our assets for our business
purposes.  Theft, carelessness and waste hurt our profitability.

Company assets include such things as documents,
equipment, facilities, information, our logo and name, materials and supplies. 
You should not use our assets except for legitimate business purposes, though
incidental personal use of the telephone and desk material and supplies is
permitted.  If you have a question whether it is permissible to use an asset
for a specific purpose, you should consult with your supervisor or the Compliance
Officer.  The use of our assets and resources for personal financial gain is
strictly prohibited.

You should immediately report to your supervisor or
the Compliance Officer any suspected incident of fraud or theft.         

Electronic Information

Our computer resources, including the internet,
intranet and electronic mail, should be used to support and advance our
business purposes.  Any personal use of these technologies should not create
additional costs for RFMD, interfere with work duties or violate any of our
policies.

Electronic messages (including voicemail), to or from
RFMD equipment or accounts, and computer information are considered our
property, and you should not have any expectation of privacy related to the use
of such electronic information.  Unless prohibited by law, we reserve the right
to access and disclose this information as necessary for business purposes. 
You should use good judgment and not send a message or access or store any
information that you would not want to be seen or heard by others.

9

 

            Personal Computer Software

You must understand and adhere to the license agreements that govern
the use, and restrict the reproduction, of personal computer software. 
Generally, when we purchase software, we only acquire a license to use the
software.  We do not become the owner of the software package and programs. 
Many software licenses limit the use of the software to a specific computer
unit.  Multi-user licenses, such as Local Area Network and Site licenses, also
exist, but both further complicate the issue by requiring detailed
administrative controls.

Computer software packages and programs that we purchase are also
covered by copyright laws.  You must not make additional copies of the
purchased software, or its documentation, unless the license agreement
specifically allows it and your supervisor or the Compliance Officer approves
it.  You must strictly abide by all license requirements.

Corporate Citizenship

We are committed to being a good corporate citizen. We recognize the
importance of making a positive contribution to society and the communities in
which we operate.  We meet these goals by contributing to the economy of the
communities in which we operate, encouraging volunteerism and support of local
community needs and activities, complying with  environmental laws and
regulations and supporting and encouraging public policies that promote good
corporate citizenship and take into account legitimate employee and community
interests.

Political Contributions

We respect and support your right to participate in
political activities.  However, you may not conduct these activities during
business hours or on our property or use any of our resources, such as
telephones, computers or supplies, in connection with your political
activities.  RFMD will not reimburse you for personal political contributions.

We may sometimes express RFMD's views on local and
national issues that affect our operations.  If we do, we may use our funds and
resources when permitted by law.  We may also make limited contributions to
political parties or candidates in jurisdictions where it is legal and
customary to do so.  No employee may make or commit to political contributions
on our behalf without approval from the Compliance Officer. 

Reporting of Code Violations

You are required to report actual or suspected
violations of this Code.  You should initially report violations to your
supervisor.  You should also seek his or her advice if you have a question or
concern about compliance with this Code, other policies and procedures or
applicable laws, or if you have a question about the right thing to do in a
particular situation.  In many cases, the supervisor will be more knowledgeable
about the question and will appreciate being brought into the decision-making
process. You should remember that it is your supervisor's responsibility to
help solve problems.

10

In cases where it might be inappropriate or uncomfortable for you to
discuss an issue or question with your supervisor, or if the supervisor does not
address the issue or question to your satisfaction, you should discuss the
matter with the Compliance Officer.  If you do not feel comfortable discussing
the matter with the Compliance Officer, you should contact the Chairman of our
Governance and Nominating Committee, whose name appears on our website.  You
may identify yourself or choose to remain anonymous.

Supervisors are required to report alleged violations
of this Code to the Compliance Officer promptly after receipt.  The Compliance Officer is required to investigate
each such report to determine if a violation of the Code has occurred.  If such
a violation has occurred, the Compliance Officer will work with the appropriate
RFMD personnel (who may vary depending on the nature of the violation) to
achieve an appropriate and satisfactory resolution.

The Compliance Officer has reporting responsibility to the Chairman of
the Governance and Nominating Committee of the Board.  The Compliance Officer
will make quarterly reports to the Governance and Nominating Committee
concerning alleged violations of this Code reported to the Compliance Officer
by employees or their supervisors since the most recent quarterly report.  The
Compliance Officer's report will also describe the status of any pending investigations
of alleged violations and the resolution of any  previously ascertained
violations of the Code.  In addition, upon the request of the Chairman of the
Governance and Nominating Committee, the Compliance Officer will report to the
Governance and Nominating Committee regarding the effectiveness and
administration of this Code. 

Enforcement of this Code

If you violate
this Code you will be subject to disciplinary action, including termination.

We will
investigate alleged violations of this Code and provide any person who is
alleged to have violated this Code a fair opportunity to be heard regarding the
alleged conduct.  All employees are expected to cooperate in internal
investigations of misconduct.

Disciplinary
measures will depend on the circumstances of the violation and will be applied
in consultation with your Human Resources representative.  Consideration will
be given to whether or not a violation was intentional, as well as whether an
employee acted in good faith in reporting the violation and cooperated with any
resulting investigation or corrective action.

No Retaliation

Our policy prohibits retaliation in any form against
an employee who in good faith reports a suspected violation of this Code.  This
policy applies even where the good faith allegation proves ultimately
groundless.  Any employee who violates our non-retaliation policy will be
subject to disciplinary action.  Any employee who knowingly makes a false or
misleading report also will be subject to disciplinary action.

Except as required by law, we will take reasonable steps to safeguard
the confidentiality of statements and other information that you report under
this Code, unless it is not practicable to do so or the interests of RFMD
require disclosure.  

Waivers

 

11

Any waiver of any provision of this Code for executive officers and
directors may be made only by our Board of Directors and will be promptly
disclosed, along with the reasons for the waiver, as required by the rules of
The Nasdaq Stock Market or by applicable law.  Our "executive officers" for
this purpose are those officers who are required to file reports of their stock
transactions under Section 16 of the Securities Exchange Act of 1934.

If the Compliance Officer receives a request for consent or approval
from an executive officer or director in accordance with any provision of this
Code, the Compliance Officer will consult with the Chairman of the Board to
determine whether the granting of such consent or approval constitutes a waiver
for the purpose of the Board approval requirement.

Conclusion

Decisions about business conduct and ethics are not always easy to
make, but it is always important for each of us to do the right thing and for
RFMD to be viewed as a responsible and ethical company.  We have prepared this
Code to help guide your actions when you are faced with these important
decisions.  Please remember the practical questions, set out at the beginning
of this Code and repeated below, that you should ask yourself when you are
faced with a decision or situation that requires you to apply the general
principles described in this Code:

1.   What is in RFMD's best interest?

2.   What RFMD policies and practices are relevant?

3.   How would I feel about explaining my actions to a
trusted relative or friend outside of 

      RFMD?

4.   How would I feel if an account of my actions were
reported on local television or in the 

      newspaper?  

5.   Would a reasonable person think my actions were
honest and fair?

6.   What laws and regulations - U.S. and foreign -  apply to this decision or situation?

Even after you have considered these questions, you may be unsure about
what to do.  If you have any concerns or questions about how this Code might
apply to you, you should contact your supervisor or our Compliance Officer.  The
Compliance Officer is Suzanne Rudy, 7628 Thorndike Road, Greensboro, NC 27409-9421 (tel.: 336-931-7112), and the Compliance Officer's e-mail address is
complianceofficer@rfmd.com. 

 

 
                                                                                                                               

Amended and Restated August 2, 2006 

 

12

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