Document:

1996 Employee Stock Purchase Plan as Amended

 Exhibit 10.14 
 TERADYNE, INC. 
 1996 EMPLOYEE STOCK PURCHASE PLAN 
 (as amended as of May 24, 2007) 
 Article 1
- Purpose. 
 This 1996 Employee Stock Purchase Plan (the “Plan”) is intended to encourage stock ownership by all eligible
employees of Teradyne, Inc. (the “Company”), a Massachusetts corporation, and its participating subsidiaries (as defined in Article 17) so that they may share in the growth of the Company by acquiring or increasing their proprietary
interest in the Company. The Plan is designed to encourage eligible employees to remain in the employ of the Company and its participating subsidiaries. The Plan is intended to constitute an “employee stock purchase plan” within the
meaning of Section 423(b) of the Internal Revenue Code of 1986, as amended (the “Code”). 
 Article 2 - Administration of the
Plan. 
 The Plan may be administered by a committee appointed by the Board of Directors of the Company (the “Committee”).
The Committee shall consist of not less than two members of the Company’s Board of Directors. The Board of Directors may from time to time remove members from, or add members to, the Committee. Vacancies on the Committee, howsoever caused,
shall be filled by the Board of Directors. The Committee may select one of its members as Chairman, and shall hold meetings at such times and places as it may determine. Acts by a majority of the Committee, or acts reduced to or approved in writing
by a majority of the members of the Committee, shall be the valid acts of the Committee. 
 The interpretation and construction by the
Committee of any provisions of the Plan or of any option granted under it shall be final, unless otherwise determined by the Board of Directors. The Committee may from time to time adopt such rules and regulations for carrying out the Plan as it may
deem best, provided that any such rules and regulations shall be applied on a uniform basis to all employees under the Plan. No member of the Board of Directors or the Committee shall be liable for any action or determination made in good faith with
respect to the Plan or any option granted under it. 
 In the event the Board of Directors fails to appoint or refrains from appointing a
Committee, the Board of Directors shall have all power and authority to administer the Plan. In such event, the word “Committee” wherever used herein shall be deemed to mean the Board of Directors. 
 Article 3 - Eligible Employees. 
 No option may
be granted to any person serving as a member of the Committee at the time of grant. Subject to the foregoing limitation, all employees of the Company or any of its participating subsidiaries who are employees of the Company or any of its
participating subsidiaries on or before the first day of any Payment Period (as defined in Article 5), and whose customary employment is not less than twenty hours per week and more than five months in any calendar year shall be eligible to
receive options under the Plan to purchase common stock of the Company, par value $.125 per share (“Common Stock”). All eligible employees shall have the same rights and privileges hereunder. Persons who elect to enter the Plan in
accordance with Article 7 and who are eligible employees on the first business day of any Payment Period (as defined in Article 5) shall receive their options as of such day. Persons who elect to enter the Plan in accordance with
Article 7 and who become eligible employees after any date on which options are granted under the Plan shall be granted options on the first business day of the next succeeding Payment Period on which options are granted to eligible employees
under the Plan. In no event, however, may an employee be granted an option if such employee, immediately after the option was granted, would be treated as owning stock possessing five percent or more of the total combined voting power or value
of all classes of stock of the Company or of any parent corporation or subsidiary corporation, as the terms “parent corporation” and “subsidiary corporation” are defined in Section 424(e) and (f) of the Code. For
purposes 

 
of determining stock ownership under this paragraph, the rules of Section 424(d) of the Code shall apply, and stock which the employee may purchase
under outstanding options shall be treated as stock owned by the employee. 
 Article 4 - Stock Subject to the Plan. 
 The stock subject to the options under the Plan shall be authorized but unissued Common Stock, or shares of Common Stock reacquired by the Company,
including shares purchased in the open market. The aggregate number of shares which may be issued pursuant to the Plan is 20,400,000, subject to adjustment as provided in Article 12. If any option granted under the Plan shall expire or
terminate for any reason without having been exercised in full or shall cease for any reason to be exercisable in whole or in part, the unpurchased shares subject thereto shall again be available under the Plan. 
 Article 5 - Payment Periods and Stock Options. 
 For the duration of the Plan, a Payment Period shall be defined as each six-month period commencing on the first day of January and ending on the last day of June and commencing on the first day of July and ending on the last day of
December of each calendar year. Notwithstanding the foregoing, the first Payment Period during which payroll deductions will be accumulated under the Plan shall commence on July 1, 1996 and shall end on December 31, 1996. 
 On the first business day of each Payment Period, the Company will grant to each eligible employee who is then a participant in the Plan an option to
purchase on the last day of such Payment Period, at the Option Price hereinafter provided for, a maximum number of shares (limited in accordance with this Article 5 and Article 8) on condition that such employee remains eligible to participate
in the Plan throughout the remainder of such Payment Period. The participant shall be entitled to exercise the option so granted only to the extent of the participant’s accumulated payroll deductions on the last day of such Payment Period. The
Option Price per share for each Payment Period shall be the lesser of (i) 85% of the fair market value of the Common Stock on the first business day of the Payment Period and (ii) 85% of the fair market value of the Common Stock on the
last business day of the Payment Period, in either event rounded up to the nearest cent. The foregoing limitation on the number of shares subject to option and the Option Price shall be subject to adjustment as provided in Article 12.

 For purposes of the Plan, the term “fair market value” on any date means (i) the closing price (on that date) of the Common
Stock on the principal national securities exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the average of the closing bid and asked prices last quoted (on that date) by
an established quotation service for over-the-counter securities, if the Common Stock is not reported on a national securities exchange; or (iii) if the Common Stock is not publicly traded, the fair market value of the Common Stock as
determined by the Committee after taking into consideration all factors which it deems appropriate, including, without limitation, recent sale and offer prices of the Common Stock in private transactions negotiated at arm’s length. 

For purposes of the Plan, the term “business day” means a day on which there is trading on The Nasdaq Stock Market or the aforementioned
national securities exchange, whichever is applicable pursuant to the preceding paragraph; and if neither is applicable, a day that is not a Saturday, Sunday or legal holiday in Massachusetts. 
 Notwithstanding any other provision herein, no employee shall be granted an option which permits the employee’s right to purchase stock under the
Plan, and under all other Section 423(b) employee stock purchase plans of the Company and any parent or subsidiary corporations, to accrue at a rate which exceeds $25,000 of fair market value of such stock (determined on the date or dates that
options on such stock were granted) for each calendar year in which such option is outstanding at any time. The purpose of the limitation in the preceding sentence is to comply with Section 423(b)(8) of the Code. If the participant’s
accumulated payroll deductions on the last day of the Payment Period would otherwise enable the participant to purchase Common Stock in excess of the Section 423(b)(8) $25,000 limitation described 

  

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in this paragraph, the excess of the amount of the accumulated payroll deductions over the aggregate purchase price of the shares actually purchased shall be
promptly refunded to the participant by the Company, without interest. 
 Article 6 - Exercise of Option. 
 Each eligible employee who continues to be a participant in the Plan on the last day of a Payment Period shall be deemed to have exercised his or her
option on such date and shall be deemed to have purchased from the Company such number of full shares of Common Stock reserved for the purpose of the Plan as the participant’s accumulated payroll deductions on such date will pay for at the
Option Price, subject to the Section 423(b)(8) $25,000 limitation described in Article 5. If the individual is not a participant on the last day of a Payment Period, then he or she shall not be entitled to exercise his or her option. Only
full shares of Common Stock may be purchased under the Plan. Unused payroll deductions remaining in a participant’s account at the end of a Payment Period solely by reason of the inability to purchase a fractional share (and for no other
reason) shall be refunded without interest. 
 Article 7 - Authorization for Entering the Plan. 
 An employee may elect to enter the Plan by filling out, signing and delivering to the Company an authorization: 
 A. Stating the percentage to be deducted from the employee’s pay; 
 B. Authorizing the purchase of stock for the employee in each Payment Period in accordance with the terms of the Plan; and 
 C. Specifying the exact name or names in which stock purchased for the employee is to be issued as provided under Article 11 hereof.

 Such authorization must be received by the Company on or before the first day of the next succeeding Payment Period. 
 Unless a participant files a new authorization or withdraws from the Plan, the deductions and purchases under the authorization the participant has on
file under the Plan will continue from one Payment Period to succeeding Payment Periods as long as the Plan remains in effect. 
 The Company
will accumulate and hold for each participant’s account the amounts deducted from his or her pay. No interest will be paid on these amounts. 
 Article 8 - Maximum Amount of Payroll Deductions. 
 An employee may authorize payroll deductions in an amount
(expressed as a whole percentage) not less than two percent (2%) but not more than ten percent (10%) of the employee’s cash compensation. 
 Article 9 - Change in Payroll Deductions. 
 Deductions may not be increased during a Payment Period. Deductions
may be decreased during a Payment Period, provided that an employee may not decrease his deduction more than once during any Payment Period. 
 Article 10 - Withdrawal from the Plan. 
 A participant may withdraw from the Plan (in whole but not in part) at
any time prior to the last day of a Payment Period by delivering a withdrawal notice to the Company, in which event the Company will refund the entire balance of the deductions as soon as practicable thereafter. 
  

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 To re-enter the Plan, an employee who has previously withdrawn must file a new authorization on or before
the first day of the next Payment Period in which he or she wishes to participate. The employee’s re-entry into the Plan becomes effective at the beginning of such Payment Period, provided that he or she is an eligible employee on the first
business day of the Payment Period. 
 Article 11 - Issuance of Stock. 
 Certificates for stock issued to participants shall be delivered as soon as practicable after each Payment Period by the Company’s transfer agent.

 Stock purchased under the Plan shall be issued only in the name of the participant, or if the participant’s authorization so
specifies, in the name of the participant and another person of legal age as joint tenants with rights of survivorship. 
 Article 12 -
Adjustments. 
 Upon the happening of any of the following described events, a participant’s rights under options granted under
the Plan shall be adjusted as hereinafter provided: 
 A. In the event that the shares of Common Stock shall be subdivided or
combined into a greater or smaller number of shares or if, upon a reorganization, split-up, liquidation, recapitalization or the like of the Company, the shares of Common Stock shall be exchanged for other securities of the Company, each participant
shall be entitled, subject to the conditions herein stated, to purchase such number of shares of Common Stock or amount of other securities of the Company as were exchangeable for the number of shares of Common Stock that such participant would have
been entitled to purchase except for such action, and appropriate adjustments shall be made in the purchase price per share to reflect such subdivision, combination or exchange; and 
 B. In the event the Company shall issue any of its shares as a stock dividend upon or with respect to the shares of stock of the class
which shall at the time be subject to options hereunder, each participant upon exercising such an option shall be entitled to receive (for the purchase price paid upon such exercise) the shares as to which the participant is exercising his or her
option and, in addition thereto (at no additional cost), such number of shares of the class or classes in which such stock dividend or dividends were declared or paid, and such amount of cash in lieu of fractional shares, as is equal to the number
of shares thereof and the amount of cash in lieu of fractional shares, respectively, which the participant would have received if the participant had been the holder of the shares as to which the participant is exercising his or her option at all
times between the date of the granting of such option and the date of its exercise. 
 Upon the happening of any of the foregoing events, the
class and aggregate number of shares set forth in Article 4 hereof which are subject to options which have been or may be granted under the Plan and the limitations set forth in the second paragraph of Article 5 shall also be appropriately
adjusted to reflect the events specified in paragraphs A and B above. Notwithstanding the foregoing, any adjustments made pursuant to paragraphs A or B shall be made only after the Committee, based on advice of counsel for the Company,
determines whether such adjustments would constitute a “modification” (as that term is defined in Section 424 of the Code). If the Committee determines that such adjustments would constitute a modification, it may refrain from making
such adjustments. 
 If the Company is to be consolidated with or acquired by another entity in a merger, a sale of all or substantially all
of the Company’s assets or otherwise (an “Acquisition”), the Committee or the board of directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”) shall, with respect to options then
outstanding under the Plan, either (i) make appropriate provision for the continuation of such options by arranging for the substitution on an equitable basis for the shares then subject to such options either (a) the consideration payable
with respect to the outstanding shares of the Common Stock in connection with the Acquisition, (b) shares of stock of the successor corporation, or a parent or subsidiary of such corporation, or (c) such other securities as the Successor
Board deems 

  

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appropriate, the fair market value of which shall not exceed the fair market value of the shares of Common Stock subject to such options immediately
preceding the Acquisition; or (ii) terminate each participant’s options in exchange for a cash payment equal to the excess of the fair market value on the date of the Acquisition of the number of shares of Common Stock that the
participant’s accumulated payroll deductions as of the date of the Acquisition could purchase, at an option price determined with reference only to the first business day of the applicable Payment Period and subject to Code
Section 423(b)(8) and fractional-share limitations on the amount of stock a participant would be entitled to purchase over the aggregate option price to such participant thereof. 
 The Committee or Successor Board shall determine the adjustments to be made under this Article 12, and its determination shall be conclusive.

 Article 13 - No Transfer or Assignment of Employee’s Rights. 
 An option granted under the Plan may not be transferred or assigned, otherwise than by will or by the laws of descent and distribution. Any option granted
under the Plan may be exercised, during the participant’s lifetime, only by the participant. 
 Article 14 - Termination of Employee’s
Rights. 
 Whenever a participant ceases to be an eligible employee because of retirement, voluntary or involuntary termination,
resignation, layoff, discharge, death or for any other reason, his or her rights under the Plan shall immediately terminate, and the Company shall promptly refund, without interest, the entire balance of his or her payroll deduction account under
the Plan; provided, however, that if an employee is laid off during the last three months of any Payment Period, he shall nevertheless be deemed to be a participant in the Plan on the last day of the Payment Period. Notwithstanding the
foregoing, eligible employment shall be treated as continuing intact while a participant is on military leave, sick leave or other bona fide leave of absence, for up to 90 days, or, if such leave is longer than 90 days, for so long as the
participant’s right to re-employment is guaranteed either by statute or by written contract. Notwithstanding any other provision herein, if a participant’s employment is terminated by reason of retirement, and the date of such termination
occurs after the date that is 3 months prior to the last day of the Payment Period, such participant’s rights under the Plan are not immediately terminated, and if the participant has not withdrawn from the Plan, such participant’s options
shall be deemed to have been exercised on the last day of the Payment Period in accordance with the terms of the Plan. 
 Article 15 - Termination
and Amendments to Plan. 
 The Plan may be terminated at any time by the Company’s Board of Directors but such termination shall
not affect options then outstanding under the Plan. If at any time shares of stock reserved for the purpose of the Plan remain available for purchase but not in sufficient number to satisfy all then unfilled purchase requirements, the available
shares shall be apportioned among participants in proportion to the amount of payroll deductions accumulated on behalf of each participant that would otherwise be used to purchase stock, and the Plan shall terminate. Upon such termination or any
other termination of the Plan, all payroll deductions not used to purchase stock will be refunded, without interest. 
 The Committee or the
Board of Directors may from time to time adopt amendments to the Plan provided that, without the approval of the shareholders of the Company, no amendment may (i) increase the number of shares that may be issued under the Plan; (ii) change
the class of employees eligible to receive options under the Plan, if such action would be treated as the adoption of a new plan for purposes of Code Section 423(b) and the regulations thereunder; (iii) cause Rule 16b-3 under the
Securities Exchange Act of 1934 to become inapplicable to the Plan or (iv) materially revise the Plan pursuant to the rules and regulations of the NYSE. 
  

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 Article 16 - Limits on Sale of Stock Purchased under the Plan. 
 The Plan is intended to provide shares of Common Stock for investment and not for resale. The Company does not, however, intend to restrict or influence
any employee in the conduct of his or her own affairs. An employee may, therefore, sell stock purchased under the Plan at any time the employee chooses, subject to compliance with any applicable federal or state securities laws and subject to any
restrictions imposed under Article 21 to ensure that tax withholding obligations are satisfied. THE EMPLOYEE ASSUMES THE RISK OF ANY MARKET FLUCTUATIONS IN THE PRICE OF THE STOCK. 
 Article 17 - Participating Subsidiaries. 
 The term “participating subsidiary” shall mean any present or future subsidiary of the Company, as that term is defined in Section 424(f) of the Code, that is designated from time to time by the Committee to participate in
the Plan. The Committee shall have the power to make such designation before or after the Plan is approved by the shareholders. 
 Article 18 -
Optionees Not Shareholders. 
 Neither the granting of an option to an employee nor the deductions from his or her pay shall
constitute such employee a stockholder of the shares covered by an option until such shares have been actually purchased by the employee. 
 Article 19 - Application of Funds. 
 The proceeds received by the Company from the sale of Common Stock pursuant
to options granted under the Plan will be used for general corporate purposes. 
 Article 20 - Notice to Company of Disqualifying Disposition.

 By electing to participate in the Plan, each participant agrees to notify the Company in writing immediately after the participant
transfers Common Stock acquired under the Plan, if such transfer occurs within two years after the first business day of the Payment Period in which such Common Stock was acquired. Each participant further agrees to provide any information
about such a transfer as may be requested by the Company or any subsidiary corporation in order to assist it in complying with the tax laws. Such dispositions generally are treated as “disqualifying dispositions” under Sections 421 and 424
of the Code, which have certain tax consequences to participants and to the Company and its participating subsidiaries. 
 Article 21 -
Withholding of Additional Income Taxes. 
 By electing to participate in the Plan, each participant acknowledges that the Company and
its participating subsidiaries are required to withhold taxes with respect to the amounts deducted from the participant’s compensation and accumulated for the benefit of the participant under the Plan, and each participant agrees that the
Company and its participating subsidiaries may deduct additional amounts from the participant’s compensation, when amounts are added to the participant’s account, used to purchase Common Stock or refunded, in order to satisfy such
withholding obligations. Each participant further acknowledges that when Common Stock is purchased under the Plan the Company and its participating subsidiaries may be required to withhold taxes with respect to all or a portion of the difference
between the fair market value of the Common Stock purchased and its purchase price, and each participant agrees that such taxes may be withheld from compensation otherwise payable to such participant. It is intended that tax withholding will be
accomplished in such a manner that the full amount of payroll deductions elected by the participant under Article 7 will be used to purchase Common Stock. However, if amounts sufficient to satisfy applicable tax withholding obligations have not
been withheld from compensation otherwise payable to any participant, then, notwithstanding any other provision of the Plan, the Company may withhold such taxes from the participant’s accumulated payroll deductions and apply the net amount to
the 

  

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purchase of Common Stock, unless the participant pays to the Company, prior to the exercise date, an amount sufficient to satisfy such withholding
obligations. Each participant further acknowledges that the Company and its participating subsidiaries may be required to withhold taxes in connection with the disposition of stock acquired under the Plan and agrees that the Company or any
participating subsidiary may take whatever action it considers appropriate to satisfy such withholding requirements, including deducting from compensation otherwise payable to such participant an amount sufficient to satisfy such withholding
requirements or conditioning any disposition of Common Stock by the participant upon the payment to the Company or such subsidiary of an amount sufficient to satisfy such withholding requirements. 
 Article 22 - Governmental Regulations. 
 The Company’s obligation to sell and deliver shares of Common Stock under the Plan is subject to the approval of any governmental authority required in connection with the authorization, issuance or sale of such shares. 
 Government regulations may impose reporting or other obligations on the Company with respect to the Plan. For example, the Company may be required to
identify shares of Common Stock issued under the Plan on its stock ownership records and send tax information statements to employees and former employees who transfer title to such shares. 
 Article 23 - Governing Law. 
 The validity
and construction of the Plan shall be governed by the laws of Massachusetts, without giving effect to the principles of conflicts of law thereof. 
 Article 24 - Approval of Board of Directors and Stockholders of the Company. 
 The Plan was adopted by the Board
of Directors on March 19, 1996 and on such date the Board of Directors resolved that the Plan was to be submitted to the shareholders of the Company for approval at the next meeting of shareholders. The plan was subsequently approved by the
shareholders. 
  

 7Supplemental Savings Plan As Amended and Restated

 Exhibit 10.18 
 Teradyne, Inc. 
 Supplemental Savings Plan 
 (Restated on November 6, 2007) 

 TABLE OF CONTENTS 
  

					
	PURPOSE AND EFFECTIVE DATE	  	
		
	 ARTICLE 1 - DEFINITIONS
	  	1-1
	1.1	  	Account	  	1-1
	1.2	  	Administrator	  	1-1
	1.3	  	Beneficiary	  	1-1
	1.4	  	Change in Control	  	1-1
	1.5	  	Code	  	1-1
	1.6	  	Compensation	  	1-1
	1.7	  	Disability	  	1-1
	1.8	  	Eligible Employee	  	1-2
	1.9	  	Employer	  	1-2
	1.10	  	ERISA	  	1-2
	1.11	  	Grandfathered Account	  	1-2
	1.12	  	Key Employee	  	1-2
	1.13	  	Matchable Compensation	  	1-2
	1.14	  	Matching Contribution	  	1-2
	1.15	  	Participant	  	1-2
	1.16	  	Plan	  	1-2
	1.17	  	Plan Sponsor	  	1-2
	1.18	  	Plan Year	  	1-2
	1.19	  	Related Employer	  	1-3
	1.20	  	Retirement	  	1-3
	1.21	  	Savings Plan	  	1-3
	1.22	  	Separation from Service	  	1-3
	1.23	  	Unforeseeable Emergency	  	1-3
	1.24	  	Valuation Date	  	1-3
	1.25	  	VC Award	  	1-3
	1.26	  	Vesting Service	  	1-3
		
	 ARTICLE 2 - PARTICIPATION
	  	2-1
	2.1	  	Participation	  	2-1
	2.2	  	Termination of Participation	  	2-1
		
	 ARTICLE 3 – PARTICIPANT ELECTIONS
	  	3-1
	3.1	  	Deferral Agreement	  	3-1
	3.2	  	Election to Defer Compensation	  	3-1
	3.3	  	Election to Defer VC Award	  	3-1
	3.4	  	Timing of Election to Defer	  	3-1
	3.5	  	Election of Distribution Event	  	3-2
	3.6	  	Transitional Rule	  	3-2

  

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	ARTICLE 4 – MATCHING CONTRIBUTIONS	  	4-1
	4.1	  	General Rules	  	4-1
	4.2	  	Rate of Matching Contributions	  	4-1
		
	ARTICLE 5 – PARTICIPANT ACCOUNTS	  	5-1
	5.1	  	Establishment of Account	  	5-1
	5.2	  	Credits to Account	  	5-1
	5.3	  	Investment Options	  	5-1
	5.4	  	Adjustment of Accounts	  	5-1
		
	ARTICLE 6 - RIGHT TO BENEFITS	  	6-1
	6.1	  	Vesting	  	6-1
	6.2	  	Death	  	6-1
		
	ARTICLE 7 - DISTRIBUTION OF BENEFITS	  	7-1
	7.1	  	Amount of Benefits	  	7-1
	7.2	  	Method and Timing of Distributions from Account	  	7-1
	7.3	  	Distributions and Withdrawals from Grandfathered Account	  	7-1
	7.4	  	Cashouts of Amounts Not Exceeding $50,000	  	7-1
	7.5	  	Permissible Delays in Payment	  	7-1
	7.6	  	Key Employees	  	7-2
	7.7	  	Unforeseeable Emergency	  	7-2
		
	ARTICLE 8 - AMENDMENT AND TERMINATION	  	8-1
	8.1	  	Amendment by Employer	  	8-1
	8.2	  	Retroactive Amendments	  	8-1
	8.3	  	Plan Termination	  	8-1
	8.4	  	Distribution Upon Termination of the Plan	  	8-2
	8.5	  	Change in Control	  	8-2
		
	ARTICLE 9 - THE TRUST	  	9-1
	9.1	  	Establishment of Trust	  	9-1
	9.2	  	Investment of Trust Funds	  	9-1
		
	ARTICLE 10 - PLAN ADMINISTRATION	  	10-1
	10.1	  	Powers and Responsibilities of the Administrator	  	10-1
	10.2	  	Claims and Review Procedures	  	10-1
	10.3	  	Plan Administrative Costs	  	10-2

  

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	ARTICLE 11 – MISCELLANEOUS	  	11-1
	11.1	  	Unsecured General Creditor of the Employer	  	11-1
	11.2	  	Employer’s Liability	  	11-1
	11.3	  	Limitation of Rights	  	11-1
	11.4	  	Anti-alienation of Benefits	  	11-1
	11.5	  	Facility of Payment	  	11-1
	11.6	  	Notices	  	11-2
	11.7	  	Tax Withholding	  	11-2
	11.8	  	Indemnification	  	11-2
	11.9	  	Permitted Acceleration of Payment	  	11-2
	11.10	  	Illegality of Particular Provision	  	11-3
	11.11	  	Governing Law	  	11-3

  

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 PURPOSE AND EFFECTIVE DATE 
 Teradyne, Inc. established the Teradyne, Inc. Supplemental Savings Plan (the “Plan”) effective as of December 1, 1994 for the benefit of a select group of its highly paid employees. The Plan was
subsequently amended by the First Amendment, which was generally effective as of January 1, 2002. The Plan has been operated in compliance with Code Section 409A since January 1, 2005 with respect to amounts subject to Code
Section 409A. The last amendment and restatement was intended to memorialize any changes in operation in the Plan as of January 1, 2005 as required by Code Section 409A. This amendment and restatement clarifies certain provisions and
makes additional changes as required or permitted by Code Section 409A, including the extension of the transition election period as described in Section 3.6. 
 Teradyne, Inc. adopted this written amendment and restatement of the Plan on November 6, 2007 and applies to elective and non-elective amounts deferred on or after January 1, 2005 and for amounts deferred
before January 1, 2005 that were not both earned and vested on December 31, 2004. The Plan as amended and restated is intended to conform with the requirements of Code Section 409A and shall be administered in a manner consistent
therewith. All amounts deferred under the Plan that are subject to Code Section 409A shall be separately accounted for and administered within each Participant’s Account. All other changes are effective as otherwise provided herein.

 Amounts attributable to a Participant’s vested account under the Plan on December 31, 2004 shall be separately accounted for in each
Participant’s Grandfathered Account. Elections made with respect to amounts credited to a Participant’s Grandfathered Account and amounts payable from a Participant’s Grandfathered Account shall be subject to the provisions of the
Plan as in effect on December 31, 2004 and the law as in effect prior to Code Section 409A. 
 The purpose of the Plan is to permit eligible
employees to elect to defer receipt of compensation otherwise payable currently and to enable the employer to credit eligible employees with matching contributions. 
 The Plan is intended to be a “plan which is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated
employees” within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA and shall be administered in a manner consistent therewith. 

 ARTICLE 1 – DEFINITIONS 
 Pronouns used in the Plan are in the masculine gender but include the feminine gender unless the context clearly indicates otherwise. Wherever used herein, the following terms have the meanings set forth below, unless
a different meaning is clearly required by the context: 
  

	1.1	“Account” means an account established for the purpose of recording amounts credited on behalf of a Participant for periods after December 31, 2004 and
unvested amounts credited for periods prior to January 1, 2005 that are subject to Code Section 409A plus any income, expenses, gains, losses or distributions included thereon. The Account shall be a bookkeeping entry only and shall be
utilized solely as a device for the measurement and determination of the amounts to be paid to a Participant pursuant to the Plan. Vested amounts credited on behalf of the Participant under the Plan attributable to periods prior to January 1,
2005 that are not subject to Code Section 409A are accounted for separately in the Participant’s Grandfathered Account. 

  

	1.2	“Administrator” means the Plan Sponsor, or such other person or persons formally or informally designated by the Plan Sponsor to be responsible for the
administration of the Plan. 

  

	1.3	“Beneficiary” means the persons, trusts, estates or other entitities entitled under Section 6.2 to receive benefits under the Plan upon the death of a
Participant. 

  

	1.4	“Change in Control” means the occurrence of an event involving the Employer that is described in Section 8.5. 

  

	1.5	“Code” means the Internal Revenue Code of 1986, as amended from time to time. 

  

	1.6	“Compensation” means ‘Compensation’ as defined under the Savings Plan except that the limitation contained in Code Section 401(a)(17) shall be
disregarded, a VC Award (as well as a profit sharing award) shall not be included and only amounts in excess of the Compensation limit announced each year during the annual enrollment period by the Plan Sponsor shall be considered.

  

	1.7	“Disability” means as defined under the Savings Plan on the date of the Participant’s Separation from Service. 

  

 1-1 

	1.8	“Eligible Employee” means an employee of the Employer who is determined by the Employer to be a member of a select group of management or highly compensated
employees within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA and who is designated by the Employer as an Eligible Employee for purposes of the Plan. 

  

	1.9	“Employer” means the Plan Sponsor and any other entity which is authorized by the Plan Sponsor to participate in and, in fact, does adopt the Plan. The term
“Employer” shall in each instance that it appears in the Plan refer to any one of the foregoing entities and in no case shall refer to the entities collectively or to more than one such entity. 

  

	1.10	“ERISA” means the Employee Retirement Income Security Act of 1974, as from time to time amended. 

  

	1.11	“Grandfathered Account” means an account established for the purpose of recording earned and vested amounts credited on behalf of a Participant under the Plan for
periods prior to January 1, 2005 and any income, expenses, gains, losses or distributions included thereon. 

  

	1.12	“Key Employee” means a ‘specified employee’ within the meaning of Code Section 409A(a)(2)(B)(i) who satisfies the conditions of Section 7.7.

  

	1.13	“Matchable Compensation” means, for purposes of determining the Matching Contribution attributable to a VC Award deferral, the amount of the Participant’s VC
Award deferral for the Plan Year. For purposes of determining the Matching Contribution attributable to a Compensation deferral, Matchable Compensation means the Participant’s Compensation except that only amounts in excess of the Code
Section 401(a)(17) limit for the Plan Year (rather than the special Compensation limit announced for the Plan Year by the Plan Sponsor) shall be considered. 

  

	1.14	“Matching Contribution” means a contribution credited by the Employer pursuant to Article 4. 

  

	1.15	“Participant” means any Eligible Employee who participates in the Plan in accordance with Article 2. 

  

	1.16	“Plan” means the Teradyne, Inc. Supplemental Savings Plan as set forth herein and as it may be amended from time to time. 

  

	1.17	“Plan Sponsor” means Teradyne, Inc. 

  

	 1.18
	 “Plan Year” means the 12-consecutive month period beginning January 1st and ending December 31st.

  

 1-2 

	1.19	“Related Employer” means the Employer and (a) any corporation that is a member of a controlled group of corporations as defined in Section 414(b) of the
Code that includes the Employer, and (b) any trade or business that is under common control as defined in Section 414(c) of the Code that includes the Employer. 

  

	1.20	“Retirement” means a Participant’s Separation from Service that occurs on or after the date the Participant: (a) attains age sixty-five (65) and has
at least five (5) years of Vesting Service or (b) attains age fifty-five (55) with at least ten (10) years of Vesting Service. 

  

	1.21	“Savings Plan” means the Teradyne, Inc. Savings Plan as in effect on January 1, 2005 and as it may thereafter be amended from time to time.

  

	1.22	“Separation from Service” means the date that the Participant dies, retires or otherwise has a termination of employment with respect to all entities comprising the
Related Employer. A Separation from Service does not occur if the Participant is on military leave, sick leave or other bona fide leave of absence, if the period of leave does not exceed six months or such longer period during which the
Participant’s right to reemployment is provided by statute or contract. If the period of leave exceeds six months and the Participant’s right to reemployment is not provided either by statute or contract, a Separation from Service will be
deemed to have occurred on the first day following the six month period. 

  

	1.23	“Unforeseeable Emergency” means a severe financial hardship of the Participant resulting from an illness or accident of the Participant, the Participant’s
spouse, or the Participant’s dependent (as defined in Code Section 152(a)); loss of the Participant’s property due to casualty; or other similar extraordinary and unforeseeable circumstances arising as a result of events beyond the
control of the Participant. 

  

	1.24	“Valuation Date” means each business day of the Plan Year and such other date(s) as designated by the Employer. 

  

	1.25	“VC Award” means the amount of incentive remuneration payable by the Employer to a Participant under the Teradyne, Inc. Variable Compensation Plan as modified and
incorporated into the Teradyne, Inc. 2006 Equity and Cash Compensation Incentive Plan, each as amended from time to time. 

  

	1.26	“Vesting Service” has the meaning such term has under the Savings Plan. 

  

 1-3 

 ARTICLE 2 – PARTICIPATION 
  

	2.1	Participation. Participation in the Plan is limited to Eligible Employees. The Employer shall notify an employee of his status as an Eligible Employee at such time and in
such manner as the Employer shall determine. Each Eligible Employee shall become a Participant in the Plan by executing a deferral agreement in accordance with the provisions of Article 3. An Eligible Employee who has become a Participant remains
eligible to participate until his participation terminates in accordance with Section 2.2 

  

	2.2	Termination of Participation. The Administrator may terminate a Participant’s participation in the Plan but any such termination at the discretion of the Administrator
shall not take effect until the first day of the next Plan Year. Upon any termination of participation at the discretion of the Administrator, a Participant’s deferrals shall cease but the provisions of Article 7 shall continue to apply.

  

 2-1 

 ARTICLE 3 – PARTICIPANT ELECTIONS 
  

	3.1.	Deferral Agreement. Each Eligible Employee may elect to defer amounts otherwise payable to him currently for the Plan Year by executing a deferral agreement in accordance
with rules and procedures established by the Administrator and the provisions of this Article 3. The deferral agreement must separately specify for each discrete type of compensation (i.e., Compensation and VC Award) the whole number percentage
multiple that the Participant elects to defer and the timing of payment of the deferred amount. 

 A new deferral agreement must
be timely executed for each Plan Year during which the Eligible Employee elects to defer compensation. An Eligible Employee who does not timely execute a deferral agreement shall be deemed to have elected zero deferrals for such Plan Year.

 A deferral agreement may be changed or revoked at any time during the respective periods specified in Section 3.4. A deferral
agreement becomes irrevocable at the close of the respective period and remains in effect throughout the applicable Plan Year even if the Eligible Employee transfers from one Employer to another Employer. 
  

	3.2	Election to Defer Compensation. An Eligible Employee may elect to defer Compensation (in 1% increments) from 1% to the maximum percentage established for the Plan Year by the
Employer. The maximum percentage shall be communicated annually to Eligible Employees prior to the annual election period described in Section 3.4 for the relevant Plan Year, but in no event shall the maximum percentage exceed 85% of the
Eligible Employee’s base salary for the Plan Year. 

  

	3.3.	Election to Defer VC Award. An Eligible Employee may elect to defer (in 1% increments) from 1% to 85% of his VC Award for a Plan Year. 

  

	3.4	Timing of Election to Defer. Each Eligible Employee who desires to defer Compensation otherwise payable during a Plan Year must execute a deferral agreement within the period
preceding the Plan Year specified by the Administrator. Each Eligible Employee who desires to defer a VC Award must execute a deferral agreement within the period preceding the Plan Year during which the VC Award is earned that is specified by the
Administrator, except that if the VC Award can be treated as “performance based compensation which is based upon services performed over a period of at least twelve months” as described in Section 409A(a)(4)(B)(iii) of the Code and
Treasury Regulations promulgated thereunder, such deferral agreement must be executed no later than the date established for this purpose by the Administrator which, in no event, shall be after the date which is six months before the end of the
performance period in which the VC Award is earned. 

 Except as otherwise provided below, an employee who is classified or designated as an Eligible Employee
during a Plan Year may elect to defer Compensation and/or VC Award otherwise payable during the remainder of such Plan Year in accordance with the rules of this Section 3.4 by executing a deferral agreement within the thirty (30) day
beginning on the date the employee is classified or designated as an Eligible Employee. If a VC Award is based on a specific performance period that begins before the Eligible Employee executes his deferral agreement, the election will be deemed to
apply to that portion of the VC Award equal to the total amount of the VC Award for the performance period multiplied by the ratio of the number of days remaining in the performance period after the election to the total number of days in the
performance period. The rules of this paragraph shall not apply if the Eligible Employee has ever participated or is participating in a “plan” within the meaning of Reg. Section 1.409A-1(c) sponsored by the Employer. 
  

	3.5	Election of Distribution Event. At the time an Eligible Employee completes a deferral agreement, the Eligible Employee must separately elect for each type of remuneration
being electively deferred (i.e., for Compensation and for VC Award), a distribution event that will trigger payment of the related deferred remuneration. Matching Contributions credited to a Participant’s Account during a Plan Year shall
automatically be paid following the distribution event selected by the Participant for the related deferred remuneration because of which the Matching Contribution was credited. 

 The permissible distribution events are Separation from Service and a specified date that is at least five years after the first day of the Plan Year
during which the related deferral agreement is effective. Payment will occur following the distribution event within the time period required by Code Section 409A and the regulations thereunder. 
 All distributions will be made in a single lump sum. 
  

	3.6	Transitional Rule. The following transitional rule shall apply during calendar years 2007 and 2008. It will be implemented in accordance with rules and procedures established
by the Administrator. 

 With respect to calendar year 2007, a Participant may make new distribution elections with respect to
amounts subject to Code Section 409A if the elections are made no later than December 31, 2007, except that the Participant cannot in 2007 change distribution elections with respect to amounts that would otherwise have become payable in
2007 or cause payments to be made in 2007. With respect to calendar year 2008, a Participant may make new distribution elections with respect to amounts subject to Code Section 409A if the elections are made no later than December 31,
2008, except that the Participant cannot in 2008 change 

  

 3-2 

 
distribution elections with respect to amounts that would otherwise have become payable in 2008 or cause payments to be made in 2008. The new distribution
elections may apply to amounts deferred before the date of the election and can be made without regard to Code Sections 409A(a)(3) and (4) and any inconsistent provisions in the Plan to the contrary. A Participant who fails to make a new
distribution election in accordance with this Section 3.6 with respect to an amount for which a valid election under Code Section 409A has not been made will be deemed to have elected a lump sum distribution upon his Separation from
Service. 

 ARTICLE 4 – MATCHING CONTRIBUTIONS 
  

	4.1	General Rules. For each Plan Year, the Employer shall credit Matching Contributions at the rate specified in Section 4.2 to the Account of each Participant who makes
deferrals during the Plan Year and otherwise satisfies the requirements of this Section 4.1. Matching Contributions shall only be made on behalf of a Participant who is employed by the Employer on the last day of the Plan Year, provided,
however, that a Participant whose Separation from Service occurs before the last day of the Plan Year because of death, Disability, layoff or Retirement shall be treated, for this purpose, as if employed on the last day of the Plan Year.

  

	4.2	Rate of Matching Contributions Each Participant who (a) was actively employed by the Employer on October 29, 1999 and (b) elected to continue accruing benefits
under the Retirement Plan for Employees of Teradyne, Inc. shall be eligible to be credited with (i) Matching Contributions equal to fifty percent (50%) of the Participant’s deferrals not exceeding six percent (6%) of the
Participant’s Matchable Compensation and (ii) a discretionary Matching Contribution of up to an additional 50% of Participant deferrals not exceeding six percent (6%) of Matchable Compensation. Each other Participant shall be eligible
to be credited with (i) Matching Contributions equal to one hundred percent (100%) of the Participant’s deferrals not exceeding five percent (5%) of the Participant’s Matchable Compensation and (ii) a discretionary
match of up to an additional 50% of Participant deferrals not exceeding five percent (5%) of Matchable Compensation. 

 The
amount of Matching Contributions credited to the Account of each eligible Participant shall be calculated separately with respect to his Compensation deferrals and separately with respect to his VC Award deferrals and shall equal the sum of the
amounts so determined. 
  

 4-1 

 ARTICLE 5 – PARTICIPANT ACCOUNTS 
  

	5.1	Establishment of Account. For accounting and computational purposes only, the Administrator will establish and maintain an Account for each Participant which will reflect the
credits made pursuant to Section 5.2 and the adjustments provided in Section 5.4. The Administrator will establish and maintain such other records and accounts, including Grandfathered Accounts, as it decides in its discretion to be
reasonably required or appropriate to discharge its duties under the Plan. 

  

	5.2	Credits to Account. A Participant’s Account will be credited for each Plan Year with (a) the amount of Compensation and VC Award he elects to defer in accordance
with the provisions of Article 3 at the time the amount subject to the deferral election would otherwise have been paid to him but for his election to defer; and (b) the amount of Matching Contributions the Employer credits on his behalf
pursuant to Article 4 as soon as administratively possible following the Plan Year. 

  

	5.3	Investment Options. The amount in a Participant’s Account and Grandfathered Account, if any, shall be treated as invested in the investment options designated for this
purpose by the Administrator. 

  

	5.4	Adjustment of Accounts. The amount in a Participant’s Account and Grandfathered Account, if any, shall be adjusted for hypothetical investment earnings or losses in an
amount equal to the gains or losses reported for the investment options selected by the Participant or Beneficiary (or by the Administrator if no selections are made by Participant or Beneficiary) from among the investment options provided in
Section 5.3. A Participant may, in accordance with rules and procedures established by the Administrator and consistent with Code Section 409A, change the investments to be used for the purpose of calculating future hypothetical investment
adjustments to the Participant’s Account and/or Grandfathered Account or to future credits to the Account under Section 5.2 effective as of the Valuation Date coincident with or next following notice to the Administrator. The Account and
Grandfathered Account of each Participant shall be adjusted as of each Valuation Date to reflect: (a) the hypothetical investment earnings and/or losses described above; (b) amounts credited pursuant to Section 5.2; and
(c) distributions or withdrawals. 

  

 5-1 

 ARTICLE 6 – RIGHT TO BENEFITS 
  

	6.1	Vesting. A Participant, at all times, has a 100% nonforfeitable interest in the amounts credited to his Account attributable to Participant deferrals made in accordance with
Article 3. A Participant shall fully vest in the amounts credited to his Account attributable to Matching Contributions upon his death while in the employ of the Employer, or upon Disability. Prior to January 1, 2007, a Participant shall vest
in the amounts credited to his Account attributable to Matching Contributions upon the completion of five years of Vesting Service. Beginning January 1, 2007, a Participant shall vest in the amounts credited to his Account attributable to
Matching Contributions at the rate of 25% per year of Vesting Service. A Participant, at all times, has a 100% nonforfeitable interest in all amounts credited to his Grandfathered Account. 

  

	6.2	Death. The balance or remaining balance credited to a Participant’s Account at the time of his death shall be paid to his Beneficiary in the form of a single lump sum
payment. If multiple Beneficiaries have been designated each shall receive his specified portion of the Account in the form of a single lump sum payment. A Participant’s Beneficiary or Beneficiaries shall be the party or parties entitled to
receive benefits under the Savings Plan upon the Participant’s death. Actual payment will be made following the date of death within the time period permitted by Code Section 409A and the regulations thereunder. 

A copy of the death notice or other sufficient documentation must be filed with and approved by the Administrator. If upon the death of the Participant
there is, in the opinion of the Administrator, no designated Beneficiary for part or all of the Participant’s Account, such amount will be paid to his estate in a single lump sum payment (such estate shall be deemed to be the Beneficiary for
purposes of the Plan). 
 The balance or remaining balance credited to a Participant’s Grandfathered Account shall be paid in accordance
with the provisions of the Plan as in effect on December 31, 2004. 
  

 6-1 

 ARTICLE 7 – DISTRIBUTION OF BENEFITS 
  

	7.1	Amount of Benefits. The vested amount credited to a Participant’s Account as determined under Articles 5 and 6 and the amount credited to his Grandfathered Account shall
determine and constitute the basis for the value of benefits payable to or on behalf of the Participant under the Plan. 

  

	7.2	Method and Timing of Distributions from Account. Subject to Sections 7.4 and 7.6, distributions under the Plan shall be made following the occurrence of the distribution
event specified by the Participant in accordance with the provisions of Article 3. At least twelve months before a scheduled distribution event, a Participant may elect, in accordance with rules and procedures established by the Administrator, to
delay the date of payment for a minimum period of sixty months from the originally scheduled payment date. 

  

	7.3	Distributions and Withdrawals from Grandfathered Account. Subject to Section 7.4, distributions and withdrawals from a Participant’s Grandfathered Account shall be
made in accordance with the provisions of the Plan as in effect on December 31, 2004. 

  

	7.4	Cashouts of Amounts Not Exceeding $25,000. If the aggregate amount credited to the Participant’s Account and Grandfathered Account does not exceed $25,000 at the
time he incurs a Separation from Service, the Employer shall pay such amount to the Participant in a single lump sum payment regardless of whether the Participant had made different elections of distribution events or forms of payment as to the
amount credited to his Account and/or Grandfathered Account, except as otherwise provided in this Section 7.4. Subject to Section 7.6, actual payment will occur within the time period required by Code Section 409A and the regulations
thereunder following the Participant’s Separation from Service. If a Participant had a valid election of a form of payment on file with the Administrator on December 31, 2004, the amount credited to the Participant’s Grandfathered
Account shall be distributed in accordance with such election regardless of any provisions of this Section 7.4 to the contrary. 

  

	7.5	 Permissible Delays in Payment. Distributions may be delayed beyond the date payment would otherwise occur in accordance with the provisions of Articles 6 and
7 in any of the following circumstances. The Employer may delay payment if it reasonably anticipates that its deduction with respect to such payment would be limited or eliminated by the application of Code Section 162(m). Payment must be made
at the earliest date at which the Employer reasonably anticipates that the deduction of the payment amount will not be eliminated or limited by Code Section 162(m) or the calendar year in which the Participant incurs a Separation from Service.
The Employer may also delay payment if it reasonably anticipates that the payment will violate a 

  

 7-1 

	 	 
term of a loan agreement or other similar contract to which the Employer is a party and such violation will cause material harm to the Employer. Payment must
be made at the earliest date on which the Employer reasonably anticipates that the making of the payment will not cause a violation or the violation will no longer cause material harm to the Employer. Payment cannot be delayed if the facts and
circumstances indicate that the Employer entered into the loan agreement or similar contract not for legitimate business reasons but to avoid the restrictions on deferral elections and subsequent deferral elections under Code Section 409A. The
Employer may also delay payment if it reasonably anticipates that the making of the payment will violate Federal Securities Laws or other applicable laws provided payment is made at the earliest date on which the Employer reasonably anticipates that
the making of the payment will not cause such violation. The Employer also reserves the right to delay payment upon such other events and conditions as the Secretary of the Treasury may prescribe in generally applicable guidance published in the
Internal Revenue Bulletin. 

  

	7.6	Key Employees. In no event shall a distribution made to a Key Employee from his Account occur before the date which is six months after the date of his Separation from
Service with the Employer. For purposes of this Section 7.6, a Key Employee means an employee of an Employer any of whose stock is publicly traded on an established securities market or otherwise who satisfies the requirements of Code
Section 416(i)(1)(A)(1), (ii) or (iii) determined without regard to Code Section 416(i)(5) at any time during the twelve-month period ending on date as of which the Employer annually identifies Key Employees (the
‘Identification Date’). An employee who is determined to be a Key Employee on an Identification Date shall be treated as a Key Employee for purposes of the six-month delay in distributions set forth in this Section 7.6 for the
twelve-month period beginning on the first day of the fourth month following the Identification Date. Whether any stock of the Employer is traded on an established securities market or otherwise is determined on the date a Participant experiences a
Separation from Service. 

  

	7.7	 Unforeseeable Emergency. A Participant may request a distribution due to an Unforeseeable Emergency. The request must be in writing and must be submitted to
the Administrator along with evidence that the circumstances constitute an Unforeseeable Emergency. The Administrator has the discretion to require whatever evidence it deems necessary to determine whether a distribution is warranted. Whether a
Participant has incurred an Unforeseeable Emergency will be determined by the Administrator on the basis of the relevant facts and circumstances in its sole discretion, but in no event, will an Unforeseeable Emergency be deemed to exist if the
hardship can be relieved: (a) through reimbursement or compensation by insurance or otherwise, (b) by liquidation of the Participant’s assets to the extent such liquidation would not itself cause severe financial hardship, or
(c) by cessation of deferrals under the Plan. A distribution due to an Unforeseeable Emergency must be limited to the amount reasonably necessary to satisfy the 

  

 7-2 

	 	 
emergency need and may include any amounts necessary to pay any federal, state or local income tax penalties reasonably anticipated to result from the
distribution. The distribution will be made in the form of a single lump sum cash payment. A Participant’s deferral elections for the remainder of the Plan Year will be cancelled upon a withdrawal due to Unforeseeable Emergency.

  

 7-3 

 ARTICLE 8 – AMENDMENT AND TERMINATION 
  

	8.1	Amendment by Employer. The Plan Sponsor reserves the right to amend the Plan (for itself and each Employer) through action of its Board of Directors or any committee of the
Board of Directors. An amendment must be in writing and executed by an officer authorized to take such action. Each amendment shall be effective when approved by the Board of Directors or any committee of the Board of Directors in its resolution. No
amendment can directly or indirectly deprive any current or former Participant or Beneficiary of all or any portion of his Account or Grandfathered Account which had accrued and vested prior to the amendment. 

  

	8.2	Retroactive Amendments. An amendment made by the Plan Sponsor in accordance with Section 8.1 may be made effective on a date prior to the first day of the Plan Year in
which it is adopted if such amendment is necessary or appropriate to enable the Plan to satisfy the applicable requirements of the Code or ERISA or to conform the Plan to any change in federal law or to any regulations or ruling thereunder. Any
retroactive amendment by the Plan Sponsor shall be subject to the provisions of Section 8.1. 

  

	8.3	 Plan Termination. The Plan Sponsor reserves the right to terminate the Plan and distribute all amounts credited to all Participant accounts within the thirty
day period preceding or the twelve months following a Change in Control as determined in accordance with the rules set forth in Section 8.5 through action of its Board of Directors or any committee of the Board of Directors. For this purpose,
the Plan will be treated as terminated only if all substantially similar arrangements sponsored by the Plan Sponsor are terminated so that all Participants under the Plan and all similar arrangements are required to receive all amounts deferred
under the terminated arrangements within twelve months of the date of termination of the arrangements. In addition, the Plan Sponsor reserves the right to terminate the Plan within twelve months of a corporate dissolution taxed under
Section 331 of the Code or with the approval of a bankruptcy court pursuant to United States Code Section 503(b)(1)(A) provided that amounts deferred under the Plan are included in the gross incomes of Participants in the latest of
(a) the calendar year in which the termination occurs, (b) the calendar year in which the amount is no longer subject to a substantial risk of forfeiture, or (c) the first calendar year in which payment is administratively
practicable. The Plan Sponsor retains the discretion to terminate the Plan if (a) all arrangements sponsored by the Plan Sponsor that would be aggregated with any terminated arrangement under Reg. Section 1.409A-1(c) are terminated,
(b) no payments other than payments that would be payable under the terms of the arrangements if the termination had not occurred are made within twelve months of the termination of the arrangements, (c) all payments are made within
twenty-four months of the termination of the arrangements, (d) the Plan Sponsor does not 

  

 8-1 

	 	 
adopt a new arrangement that would be aggregated with any terminated arrangement under Reg. Section 1.409A-1(c) at any time within the five year period
following the date of termination of the arrangement. The Plan Sponsor also reserves the right to terminate the Plan under such conditions and events as may be prescribed by the Secretary of the Treasury in generally applicable guidance published in
the Internal Revenue Bulletin. 

  

	8.4	Distribution Upon Termination of the Plan. Except as provided in Section 8.3, the Plan may not be terminated before the date on which all amounts credited to all
Participant accounts have been distributed in accordance with Articles 6 and 7. 

  

	8.5	Change in Control. A Change in Control will occur upon a change in the ownership of the Employer, a change in the effective control of the Employer or a change in the
ownership of a substantial portion of the assets of the Employer. The Employer, for this purpose, includes any corporation identified in this Section 8.5. 

 Whether a Change in Control has occurred will be determined by the Plan Sponsor in accordance with the rules and definitions set forth in this
Section 8.5. A distribution to a Participant will be treated as occurring upon a Change in Control if the Plan Sponsor terminates the Plan and distributes the Participant’s benefits within twelve months of a Change in Control as provided
in Section 8.3. 
  

	 	(a)	Relevant Corporations. To constitute a Change in Control for purposes of the Plan, the event must relate to (i) the corporation for whom the Participant is performing
services at the time of the Change in Control, (ii) the corporation that is liable for the payment of the Participant’s benefits under the Plan (or all corporations liable if more than one corporation is liable), or (iii) a
corporation that is a majority shareholder of a corporation identified in (i) or (ii), or any corporation in a chain of corporations in which each corporation is a majority corporation of another corporation in the chain, ending in a
corporation identified in (i) or (ii). A majority shareholder is defined as a shareholder owning more than fifty percent (50%) of the total fair market value and voting power of such corporation. 

  

	 	(b)	Stock Ownership. Code Section 318(a) applies for purposes of determining stock ownership. Stock underlying a vested option is considered owned by the individual who owns
the vested option (and the stock underlying an unvested option is not considered owned by the individual who holds the unvested option). If, however, a vested option is exercisable for stock that is not substantially vested (as defined by Treasury
Regulation Section 1.83-3(b) and (j)) the stock underlying the option is not treated as owned by the individual who holds the option. Mutual and cooperative corporations are treated as having stock for purposes of this Section 8.5.

  

 8-2 

	 	(c)	Change in the Ownership of a Corporation. A change in the ownership of a corporation occurs on the date that any one person or more than one person acting as a group,
acquires ownership of stock of the corporation that, together with stock held by such person or group, constitutes more than fifty percent (50%) of the total fair market value or total voting power of the stock of such corporation. If any one
person or more than one person acting as a proxy is considered to own more than fifty percent (50%) of the total fair market value or total voting power of the stock of a corporation, the acquisition of additional stock by the same person or
persons is not considered to cause a change in the ownership of the corporation (or to cause a change in the effective control of the corporation as discussed below in Section 8.5(d)). An increase in the percentage of stock owned by any one
person, or persons acting as a group, as a result of a transaction in which the corporation acquires its stock in exchange for property will be treated as an acquisition of stock. Section 8.5(c) applies only when there is a transfer of stock of
a corporation (or issuance of stock of a corporation) and stock in such corporation remains outstanding after the transaction. For purposes of this Section 8.5(c), persons will not be considered to be acting as a group solely because they
purchase or own stock of the same corporation at the same time or as a result of a public offering. Persons will, however, be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation, purchase
or acquisition of stock, or similar business transaction with the corporation. If a person, including an entity, owns stock in both corporations that enter into a merger, consolidation, purchase or acquisition of stock, or similar transaction, such
shareholder is considered to be acting as a group with other shareholders in a corporation prior to the transaction giving rise to the change and not with respect to the ownership interest in the other corporation. 

  

	 	(d)	 Change in the effective control of a corporation. A change in the effective control of a corporation occurs on the date that either (i) any one person,
or more than one person acting as a group, acquires (or has acquired during the twelve month period ending on the date of the most recent acquisition by such person or persons) ownership of stock of the corporation possessing thirty-five percent
(35%) or more of the total voting power of the stock of such corporation, or (ii) a majority of members of the corporation’s board of directors is replaced during any twelve month period by directors whose appointment or election is
not endorsed by a majority of the members of the corporation’s board of directors prior to the date of the appointment or election, provided that for purposes of this paragraph (ii), the term corporation refers solely to 

  

 8-3 

	 	 
the relevant corporation identified in Section 8.5(a) for which no other corporation is a majority shareholder for purposes of Section 8.5(a). In
the absence of an event described in Section 8.5(d)(i) or (ii), a change in the effective control of a corporation will not have occurred. A change in effective control may also occur in any transaction in which either of the two corporations
involved in the transaction has a change in the ownership of such corporation as described in Section 8.5(c) or a change in the ownership of a substantial portion of the assets of such corporation as described in Section 8.5(e). If any one
person, or more than one person acting as a group, is considered to effectively control a corporation within the meaning of this Section 8.5(d), the acquisition of additional control of the corporation by the same person or persons is not
considered to cause a change in the effective control of the corporation or to cause a change in the ownership of the corporation within the meaning of Section 8.5(c). For purposes of this Section 8.5(d), persons will or will not be
considered to be acting as a group in accordance with rules similar to those set forth in Section 8.5(c) with the following exception. If a person, including an entity, owns stock in both corporations that enter into a merger, consolidation,
purchase or acquisition of stock, or similar transaction, such shareholder is considered to be acting as a group with other shareholders in a corporation only with respect to the ownership in that corporation prior to the transaction giving rise to
the change and not with respect to the ownership interest in the other corporation. 

  

	 	(e)	 Change in the ownership of a substantial portion of a corporation’s assets. A change in the ownership of a substantial portion of a corporation’s
assets occurs on the date that any one person, or more than one person acting as a group (as determined in accordance with rules similar to those set forth in Section 8.5(d)), acquires (or has acquired during the twelve month period ending on
the date of the most recent acquisition by such person or persons) assets from the corporation that have a total gross fair market value equal to or more than forty percent (40%) of the total gross fair market value of all of the assets of the
corporation immediately prior to such acquisition or acquisitions. For this purpose, gross fair market value means the value of the assets of the corporation or the value of the assets being disposed of determined without regard to any liabilities
associated with such assets. There is no Change in Control event under this Section 8.5(e) when there is a transfer to an entity that is controlled by the shareholders of the transferring corporation immediately after the transfer. A transfer
of assets by a corporation is not treated as a change in ownership of such assets if the assets are transferred to (i) a shareholder of the corporation (immediately before the asset transfer) in exchange for or with respect to its stock,
(ii) an entity, fifty percent (50%) or more of the total value or voting power of which is owned, directly or indirectly, by the corporation, (iii) a person, or more than one person 

  

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acting as a group, that owns, directly or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the
corporation, or (iv) an entity, at least fifty (50%) of the total value or voting power of which is owned, directly or indirectly, by a person described in Section 8.5(e)(iii). For purposes of the foregoing, and except as otherwise
provided, a person’s status is determined immediately after the transfer of assets. 

  

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 ARTICLE 9 – THE TRUST 
  

	9.1	Establishment of Trust. The Plan Sponsor may but is not required to establish a trust to hold amounts which the Plan Sponsor may contribute from time to time to correspond to
some or all of the amounts credited to Participants under Article 5. If the Plan Sponsor elects to establish a trust the provisions of Section 9.2 will become operative. 

  

	9.2	Investment of Trust Funds. Any amounts contributed to the trust by the Employer shall be invested by the trustee in accordance with the provisions of the trust and the
instructions of the Administrator. Trust investments need not reflect the hypothetical investments selected by Participants under Section 5.1 for the purpose of adjusting Accounts and Grandfathered Accounts and the earnings or investment
results of the trust shall not affect the hypothetical investment adjustments to Participant Accounts and Grandfathered Accounts under the Plan. 

  

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 ARTICLE 10 – PLAN ADMINISTRATION 
  

	10.1	Powers and Responsibilities of the Administrator. The Administrator has the full power and the full responsibility to administer the Plan in all of its details, subject,
however, to the applicable requirements of ERISA. The Administrator’s powers and responsibilities include, but are not limited to, the following: 

  

	 	(a)	To make and enforce such rules and regulations as it deems necessary or proper for the efficient administration of the Plan; 

  

	 	(b)	To interpret the Plan, its interpretation thereof in good faith to be final and conclusive on all persons claiming benefits under the Plan; 

  

	 	(c)	To decide all questions concerning the Plan and the eligibility of any person to participate in the Plan; 

  

	 	(d)	To administer the claims and review procedures specified in Section 10.2; 

  

	 	(e)	To compute the amount of benefits which will be payable to any Participant, former Participant or Beneficiary in accordance with the provisions of the Plan;

  

	 	(f)	To determine the person or persons to whom such benefits will be paid; 

  

	 	(g)	To authorize the payment of benefits; 

  

	 	(h)	To comply with the reporting and disclosure requirements of Part 1 of Subtitle B of Title I of ERISA; 

  

	 	(i)	To appoint such agents, counsel, accountants, and consultants as may be required to assist in administering the Plan; 

  

	 	(j)	By written instrument, to allocate and delegate its responsibilities, including the formation of an Administrative Committee to administer the Plan. 

  

	10.2	Claims and Review Procedures. 

  

	 	(a)	 Claims Procedure. If any person believes he is being denied any rights or benefits under the Plan, such person may file a claim in writing with the
Administrator. If any such claim is wholly or partially denied, the Administrator will notify such person of its decision in writing. Such notification will contain (i) specific reasons for the denial, 

  

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(ii) specific reference to pertinent Plan provisions, (iii) a description of any additional material or information necessary for such person to perfect
such claim and an explanation of why such material or information is necessary, and (iv) information as to the steps to be taken if the person wishes to submit a request for review. Such notification will be given within 90 days after the claim
is received by the Administrator (or within 180 days, if special circumstances require an extension of time for processing the claim, and if written notice of such extension and circumstances is given to such person within the initial 90-day
period). If such notification is not given within such period, the claim will be considered denied as of the last day of such period and such person may request a review of his claim. 

  

	 	(b)	Review Procedure. Within 60 days after the date on which a person receives a written notification of denial of claim (or, if written notification is not provided, within 60
days of the date denial is considered to have occurred), such person (or his duly authorized representative) may (i) file a written request with the Administrator for a review of his denied claim and of pertinent documents and (ii) submit
written issues and comments to the Administrator. The Administrator will notify such person of its decision in writing. Such notification will be written in a manner calculated to be understood by such person and will contain specific reasons for
the decision as well as specific references to pertinent Plan provisions. The decision on review will be made within 60 days after the request for review is received by the Administrator (or within 120 days, if special circumstances require an
extension of time for processing the request, such as an election by the Administrator to hold a hearing, and if written notice of such extension and circumstances is given to such person within the initial 60-day period). If the decision on review
is not made within such period, the claim will be considered denied. 

  

	10.3	Arbitration. Any controversy or claim arising under or relating to a claim for benefits under the Plan shall be resolved by binding arbitration in accordance with the rules
and procedures of the American Arbitration Association. The Plan shall not be required to submit any such claim or controversy until the claimant has first exhausted the procedures described in Section 10.2 although the Administrator may
voluntarily do so at any point in processing an appeal from a prior claim denial or other disputed benefit determination. 

 The
Employer against whom the claim is brought shall bear all costs of an arbitration, except that the arbitrator shall have the power to apportion among the parties other expenses such as prehearing discovery, travel costs and attorney’s fees. The
decision of the arbitrator shall be final and binding on all parties and judgment on the arbitrator’s award may be entered in any court of competent jurisdiction. 
  

 10-2 

	10.4	Plan Administrative Costs. All reasonable costs and expenses (including legal, accounting, and employee communication fees) incurred by the Administrator in administering the
Plan shall, unless allocable to the Accounts and Grandfathered Accounts of particular Participants, be charged against the Accounts and Grandfathered Accounts of all Participants on a pro rata basis or in such other reasonable manner as may be
directed by the Administrator unless paid for by the Employer. 

  

 10-3 

 ARTICLE 11 – MISCELLANEOUS 
  

	11.1	Unsecured General Creditor of the Employer. Participants and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims
in any property or assets of the Employer. For purposes of the payment of benefits under the Plan, any and all of the Employer’s assets shall be, and shall remain, the general, unpledged, unrestricted assets of the Employer. Each
Employer’s obligation under the Plan shall be merely that of an unfunded and unsecured promise to pay money in the future. 

  

	11.2	Employer’s Liability. Each Employer’s liability for the payment of benefits under the Plan shall be defined only by the Plan and by the deferral agreements entered
into between a Participant and the Employer. An Employer shall have no obligation or liability to a Participant under the Plan except as provided by the Plan and a deferral agreement or agreements. An Employer shall have no liability to Participants
employed by other Employers. 

  

	11.3	Limitation of Rights. Neither the establishment of the Plan, nor any amendment thereof, nor the creation of any fund or account, nor the payment of any benefits, will be
construed as giving to the Participant or any other person any legal or equitable right against the Plan Sponsor, Employer or Administrator, except as provided herein; and in no event will the terms of employment or service of the Participant be
modified or in any way affected hereby. 

  

	11.4	Anti-alienation of Benefits. None of the benefits or rights of a Participant or any Beneficiary of a Participant shall be subject to the claim of any creditor. In particular,
to the fullest extent permitted by law, all such benefits and rights shall be free from attachment, garnishment, or any other legal or equitable process available to any creditor of the Participant and his or her Beneficiary. Neither the Participant
nor his or her Beneficiary shall have the right to alienate, anticipate, commute, pledge, encumber, or assign any of the payments which he or she may expect to receive, contingently or otherwise, under this Plan, except the right to designate a
Beneficiary to receive death benefits provided hereunder. 

  

	11.5	Facility of Payment. If the Administrator determines, on the basis of medical reports or other evidence satisfactory to the Administrator, that the recipient of any benefit
payments under the Plan is incapable of handling his affairs by reason of minority, illness, infirmity or other incapacity, the Administrator may disburse such payments to a person or institution designated by a court which has jurisdiction over
such recipient or a person or institution otherwise having the legal authority under State law for the care and control of such recipient. The receipt by such person or institution of any such payments therefore, and any such payment to the extent
thereof, shall discharge the liability of the Plan for the payment of benefits hereunder to such recipient. 

  

 11-1 

	11.6	Notices. Any notice or other communication in connection with the Plan shall be deemed delivered in writing if addressed to the Employer or Administrator at the address
specified by the Employer and if either actually delivered at said address or, in the case or a letter, five business days shall have elapsed after the same shall have been deposited in the United States mail, first-class postage prepaid and
registered or certified. 

  

	11.7	Tax Withholding. The Employer shall have the right to deduct from all payments or deferrals made under the Plan any tax required by law to be withheld. If the Employer
concludes that tax is owing with respect to any deferral or payment hereunder, the Employer shall withhold such amounts from any payments due the Participant, as permitted by law, or otherwise make appropriate arrangements with the Participant or
his Beneficiary for satisfaction of such obligation. Tax, for purposes of this Section 11.7 means any federal, state, local or any other governmental income tax, employment or payroll tax, excise tax, or any other tax or assessment owing with
respect to amounts deferred, any earnings thereon, and any payments made to Participants under the Plan. Neither the Employer nor the Administrator shall have any obligation to any Participant or any other person if there is a failure to comply with
Code Section 409A or with respect to any liability, including, without limitation, any liability for taxes, additional taxes or interest incurred by the Participant or any other person as a result of such failure. 

  

	11.8	Indemnification. To the extent permitted by law, and without limiting the applicability of any other indemnification provided by the Employer, each Employer shall indemnify
and hold harmless the Plan Sponsor, the Administrator, each employee, officer, or director of the Employer to whom is delegated duties, responsibilities, and authority with respect to the Plan against all claims, liabilities, fines and penalties,
and all expenses reasonably incurred by or imposed upon him (including but not limited to reasonable attorney fees) which arise as a result of his actions or failure to act in connection with the operation and administration of the Plan to the
extent lawfully allowable and to the extent that such claim, liability, fine, penalty, or expense is not paid for by liability insurance purchased or paid for by an Employer. Notwithstanding the foregoing, an Employer shall not indemnify any person
for any such amount incurred through any settlement or compromise of any action unless the Employer consents in writing to such settlement or compromise. 

  

	11.9	 Permitted Acceleration of Payment. The Plan may permit acceleration of the time or schedule of any payment or amount scheduled to be paid pursuant to a
payment under the Plan as provided in Section 8.3 and this Section 11.9. The Plan may permit acceleration of payment (1) to an individual other than the Participant as may be necessary to fulfill a domestic 

  

 11-2 

	 	 
relations order within the meaning of Code Section 414(p)(1)(B), (2) to comply with a certificate of divestiture as defined in Code
Section 1043(b)(2), (3) to pay the Federal Insurance Contributions Act (FICA) tax imposed under Code Sections 3101, 3121(a) and 3121(v)(2) on compensation deferred under the Plan, (4) to pay the income tax under Code Section 3401
or the corresponding withholding provisions of the applicable state, local or foreign tax laws as a result of the payment of any FICA tax described in (3) and to pay the additional income tax at source on wages attributable to the pyramiding
Code Section 3401, wages and taxes, and (5) to pay the amount required to be included in gross income as a result of the failure of the Plan to comply with the requirements of Code Section 409A. The total payment under (3) or
(4) shall, in no event, exceed the aggregate of the FICA tax and the income tax withholding related to such FICA tax. The total payment under (5) shall, in no event, exceed the amount required to be included as a result of the failure to
comply with the requirements of Code Section 409A. 

  

	11.10	Illegality of Particular Provision. The illegality any particular provision of the Plan shall not affect the other provisions, and the document shall be construed in all
respects as if such invalid provisions were omitted. 

  

	11.11	Governing Law. The Plan will be construed, administered and enforced according to ERISA, and to the extent not preempted thereby, the laws of the Commonwealth of
Massachusetts. 

 Approved by the Teradyne, Inc. Compensation Committee on November 6, 2007. 
  

 11-3

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