Document:

EXHIBIT
10.2

     

    GARMIN
LTD.

    2005
EQUITY INCENTIVE PLAN

    PERFORMANCE
SHARES AWARD AGREEMENT

     

    To:           _______________________
("you" or the "Grantee")

     

    Date of
Grant:                ______________________________

     

    NOTICE OF
GRANT:

     

    You have
been granted performance shares ("Performance Shares") relating to the common
shares, $0.005 par value per share, of Garmin Ltd. ("Shares"), subject to the
terms and conditions of the Garmin Ltd. 2005 Equity Incentive Plan (the "Plan")
and the Award Agreement between you and Garmin Ltd. (the "Company"), attached as
Exhibit A.  Provided you satisfy the conditions set forth in this
Notice of Grant and Exhibit A, the Company agrees to pay you Shares as
follows:

     

    
      
        
          
            
              
                
                  	
                          Number
      of Performance Shares Granted:

                        	
                          ______________
      Shares

                        
	 	 
	
                          Performance
      Condition Required

                           for
      Grantee To Receive Award

                        	
                          For
      the period commencing December 28, 2008 and ending December 31, 2011, (the
      "Performance Period"), the growth in the Company's Pro Forma Net Income
      (as defined on Exhibit B) must equal or exceed 30%.

                        
	 	 
	
                          Date
      Grantee Must Be Employed To Receive Award:

                        	
                          December
      31, 2011

                        
	 	 
	
                          Date
      Payable:

                        	
                          January
      31,
2012

                        

                

              

            

          

        

      

    

    

    In order
to fully understand your rights under the Plan (a copy of which is attached) and
the Award Agreement (the "Award Agreement"), attached as Exhibit A, you are
encouraged to read the Plan and this document carefully.  Please refer
to the Plan document for the definition of capitalized terms used in this
Agreement.

     

    To
properly accept these Performance Shares, you must enter your E*Trade password
and click the "Accept" button on the previous screen. Acceptances shall be made
electronically within ten (10) days of your receipt of this Notice and Award
Agreement.  By
accepting these Performance Shares, you are also agreeing to be bound by Exhibit
A, including the restrictive covenants in Section 6 of Exhibit A.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      
        
          
            
              
                	
                        GARMIN
      LTD.

                      
	 
      
	 
	
                        By:

                      	      
                                 
      /s/  Min H. Kao

                      	
                         

                      
	
                        Name:

                      	
                        Min
      H. Kao

                      
	
                        Title:

                      	
                        Chairman
      and
CEO

                      

              

            

          

        

      

    

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    EXHIBIT
A

     

    AGREEMENT:

     

    In
consideration of the mutual promises and covenants contained herein and other
good and valuable consideration paid by the Grantee to the Company, the Grantee
and the Company agree as follows:

     

    
      	
            	
              Section 1.

            	
              Incorporation of
      Plan

            

    

     

    All
provisions of this Award Agreement and the rights of the Grantee hereunder are
subject in all respects to the provisions of the Plan and the powers of the
Board therein provided.  Capitalized terms used in this Award
Agreement but not defined shall have the meaning set forth in the
Plan.

     

    
      	
            	
              Section 2.

            	
              Grant of Performance
      Shares

            

    

     

    As of the
Date of Grant identified above, the Company grants to you, subject to the terms
and conditions set forth herein and in the Plan, the opportunity to receive that
number of unrestricted Shares identified opposite the heading "Number of
Performance Shares Granted" (the "Performance Shares") on the Notice of
Grant.  All Performance Shares are forfeitable until such time as they
become nonforfeitable as provided herein.  Provided (1) that
performance condition above identified opposite the heading "Performance
Condition Required for Grantee To Receive Award" on the Notice of Grant is
satisfied and (2) you are employed (and at all times since the Date of Grant
have been employed) by the Company on a Full-Time Basis (which, for purposes of
this Award Agreement, means regularly scheduled to work 30 hours or more per
week) and, unless your right to receive the Performance Shares has been
forfeited pursuant to Section 3 below, your Performance Shares will become
nonforeitable and you will be paid a number of unrestricted Shares equal to the
aggregate number of Performance Shares on the date above identified opposite the
heading "Date Payable" on the Notice of Grant.1  For purposes of this Agreement,
except where the Board otherwise determines, a Grantee who, immediately before
taking a Company-approved leave of absence, was employed on a Full-Time Basis
will be considered employed on a Full-Time Basis during the period of such
Company-approved leave.

     

    
      	
            	
              Section 3.

            	
              Effect of Termination
      of Affiliation or Cessation as Full-Time
  Employee

            

    

     

    If you
have a Termination of Affiliation or cease to be employed on a Full-Time Basis
for any reason, including termination by the Company with or without Cause,
voluntary resignation, change in employment status from full-time to part-time,
death, or Disability, the effect of such Termination of Affiliation or ceasing
to be employed on a Full-Time Basis on all or any portion of the Performance
Shares is as provided below.

     

    
      	
               
      

            	
              (a)

            	
              If
      at the end of the applicable Performance Period, the Performance Condition
      set forth on the Notice of Grant is achieved but you incurred a
      Termination of Affiliation on account of death or Disability, the
      Performance Shares shall thereupon become nonforfeitable and the Company
      shall, promptly settle all Performance Shares by delivery to you (or,
      after your death, to your personal representative or designated
      beneficiary) a number of unrestricted Shares equal to the number of your
      Performance Shares.

            

    

     

    
      
        

      

      1 If on
the Date Payable, the Company has not had sufficient time to make a
determination of whether the applicable performance condition has been
satisfied, the Date Payable may be extended by the Company for up to 90-days
after the original Date Payable.

    

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

    
      	
               
      

            	
              (b)

            	
              If
      you have a Termination of Affiliation during the period ("Change of
      Control Period") commencing on a Change of Control and ending on the first
      anniversary of the Change of Control, which Termination of Affiliation is
      initiated by the Company or a Subsidiary other than for Cause, or
      initiated by the Grantee for Good Reason, then your Performance Shares
      that were forfeitable shall thereupon become nonforfeitable and the
      Company shall immediately settle all Performance Shares by delivery to you
      a number of unrestricted Shares equal to the number of your Performance
      Shares.

            

    

     

    
      	
               
      

            	
              (c)

            	
              If
      you have a Termination of Affiliation for Cause or for any reason other
      than for death or Disability, or under the circumstances described
      immediately above in Section 3(b), your Performance Shares, to the extent
      forfeitable immediately before such Termination of Affiliation, shall
      thereupon automatically be forfeited and you shall have no further rights
      under this Award Agreement.

            

    

     

    
      	
               
      

            	
              (d)

            	
              If
      you cease to be employed on a Full-Time Basis for any reason other than
      for death or Disability, your Performance Shares, to the extent
      forfeitable immediately before such cessation of employment on a Full-Time
      Basis, shall thereupon automatically be forfeited and you shall have no
      further rights under this Award
Agreement.

            

    

     

    
      	
            	
              Section 4.

            	
              Investment
      Intent

            

    

     

    The
Grantee agrees that the Shares acquired pursuant to the vesting of one or more
tranches of Performance Shares shall be acquired for his/her own account for
investment only and not with a view to, or for resale in connection with, any
distribution or public offering thereof within the meaning of the Securities Act
of 1933 (the "1933 Act") or other applicable securities laws. If the Board so
determines, any share certificates issued pursuant to this Award Agreement shall
bear a legend to the effect that the Shares have been so
acquired.  The Company may, but in no event shall be required to, bear
any expenses of complying with the 1933 Act, other applicable securities laws or
the rules and regulations of any national securities exchange or other
regulatory authority in connection with the registration, qualification, or
transfer, as the case may be, of this Award Agreement or any Shares acquired
hereunder. The foregoing restrictions on the transfer of the Shares shall be
inoperative if (a) the Company previously shall have been furnished with an
opinion of counsel, satisfactory to it, to the effect that such transfer will
not involve any violation of the 1933 Act and other applicable securities laws
or (b) the Shares shall have been duly registered in compliance with the 1933
Act and other applicable state or federal securities laws. If this Award
Agreement, or the Shares subject to this Award Agreement, are so registered
under the 1933 Act, the Grantee agrees that he will not make a public offering
of the said Shares except on a national securities exchange on which the common
shares of the Company are then listed.

     

    
      	
            	
              Section 5.

            	
              Nontransferability of
      Performance Shares

            

    

     

    No rights
under this Award Agreement relating to the Performance Shares may be sold,
transferred, pledged, assigned, or otherwise alienated or hypothecated,
including, unless specifically approved by the Company, any purported transfer
to a current spouse or former spouse in connection with a legal separation or
divorce proceeding. All rights with respect to the Performance Shares granted to
the Grantee shall be available during his or her lifetime only to the
Grantee.

    
      
         

      

      
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              Section 6.

            	
              Restrictive
      Covenants

            

    

     

    As a
condition of this Award Agreement, the Grantee's right to the Performance
Shares, and in addition to any restrictive agreements the Grantee may have
entered into with the Company, the Grantee accepts and agrees to be bound as
follows:

     

    
      	
               
      

            	
              (a)

            	
              Nondisclosure
      of Award Agreement Terms.  The Grantee
      agrees not to disclose or cause to be disclosed at any time, nor authorize
      anyone to disclose any information concerning this Award Agreement except
      (i) as required by law, or (ii) to the Grantee's legal and financial
      advisors who agree to be bound by this Paragraph
  6(a).

            

    

     

    
      	
               
      

            	
              (b)

            	
              Noncompetition.  During
      the Grantee's employment and until one year after the Grantee ceases being
      employed by or acting as a consultant or independent contractor to the
      Company or any Subsidiary, the Grantee will not perform services as an
      employee, director, officer, consultant, independent contractor or
      advisor, or invest in, whether in the form of equity or debt, or otherwise
      have an ownership interest in any company, entity or person that directly
      competes anywhere in the United States, the United Kingdom, Taiwan, or in
      any other location outside the United States, the United Kingdom or Taiwan
      where the Company or a Subsidiary conducts or (to the Grantee's knowledge)
      plans to conduct business.  Nothing in this Section 6(b) shall,
      however, restrict the Grantee from making an investment in and owning up
      to one-percent (1%) of the common stock of any company whose stock is
      listed on a national securities exchange or actively traded in an
      over-the-counter market; provided that such investment does not give the
      Grantee the right or ability to control or influence the policy decisions
      of any direct competitor of the Company or a
  Subsidiary.

            

    

     

    
      	
               
      

            	
              (c)

            	
              Noninterference.  During
      the Grantee's employment and until one year after the Grantee ceases being
      employed by or acting as a consultant or independent contractor to the
      Company or any Subsidiary, the Grantee will not, either directly or
      indirectly through another business or person, solicit, entice away, or
      otherwise interfere with any employee, customer, prospective customer,
      vendor, prospective vendor, supplier or other similar business relation or
      (to the Grantee's knowledge) prospective business relation of the Company
      or any Subsidiary.

            

    

     

    
      	
               
      

            	
              (d)

            	
              Nonsolicitation.  During
      the Grantee's employment and until one year after the Grantee ceases being
      employed by or acting as a consultant or independent contractor to the
      Company or any Subsidiary, the Grantee will not, either directly or
      indirectly through another business or person, hire, recruit, employ, or
      attempt to hire, recruit or employ, or facilitate any such acts by others,
      any person then currently employed by the Company or any
      Subsidiary.

            

    

     

    
      	
               
      

            	
              (e)

            	
              Confidentiality.  The
      Grantee acknowledges that it is the policy of the Company and its
      subsidiaries to maintain as secret and confidential all valuable and
      unique information and techniques acquired, developed or used by the
      Company and its subsidiaries relating to their businesses, operations,
      employees and customers ("Confidential Information").  The
      Grantee recognizes that the Confidential Information is the sole and
      exclusive property of the Company and its subsidiaries, and that
      disclosure of Confidential Information would cause damage to the Company
      and its subsidiaries.  The Grantee shall not at any time
      disclose or authorize anyone else to disclose any Confidential Information
      or proprietary information that (A) is disclosed to or known by the
      Grantee as a result or as a consequence of or through the Grantee's
      performance of services for the Company or any Subsidiary, (B) is not
      publicly or generally known outside the Company and (C) relates in any
      manner to the Company's business.  This obligation will continue
      even though the Grantee's employment with the Company or a Subsidiary may
      have terminated.  This paragraph 6(e) shall apply in addition
      to, and not in derogation of any other confidentiality agreements that may
      exist, now or in the future, between the Grantee and the Company or any
      Subsidiary.

            

    

    
      
         

      

      
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              (f)

            	
              No
      Detrimental Communications.  The Grantee agrees not to
      disclose or cause to be disclosed at any time any untrue, negative,
      adverse or derogatory comments or information about the Company or any
      Subsidiary, about any product or service provided by the Company or any
      Subsidiary, or about prospects for the future of the Company or any
      Subsidiary.

            

    

     

    
      	
               
      

            	
              (g)

            	
              Remedy.  The
      Grantee acknowledges the consideration provided herein (absent the
      Grantee's agreement to this Section 6) is more than the Company is
      obligated to pay, and the Grantee further acknowledges that irreparable
      harm would result from any breach of this Section and monetary damages
      would not provide adequate relief or remedy. Accordingly, the Grantee
      specifically agrees that, if the Grantee breaches any of the Grantee's
      obligations under this Section 6, the Company and any Subsidiary shall be
      entitled to injunctive relief therefor, and in particular, without
      limiting the generality of the foregoing, neither the Company nor any
      Subsidiary shall be precluded from pursuing any and all remedies they may
      have at law or in equity for breach of such obligations.  In
      addition, this Award Agreement and all of Grantee's right hereunder shall
      terminate immediately the first date on which the Grantee engages in such
      activity and the Board shall be entitled on or after the first date on
      which the Grantee engages in such activity to require the Grantee to
      return any Shares obtained by the Grantee's upon vesting of any
      Performance Shares to the Company and to require the Grantee to repay any
      proceeds received at any time from the sale of Shares obtained by the
      Grantee pursuant to the vesting of any Performance Shares (plus interest
      on such amount from the date received at a rate equal to the prime lending
      rate as announced from time to time in The Wall Street
      Journal) and to recover all reasonable attorneys' fees and expenses
      incurred in terminating this Award Agreement and recovering such Shares
      and proceeds.

            

    

     

    
      	
            	
              Section 7.

            	
              Status of the
      Grantee

            

    

     

    The
Grantee shall not be deemed a shareholder of the Company with respect to any of
the Shares subject to this Award Agreement until such time as the underlying
Shares shall have been issued to him or her. The Company shall not be required
to issue or transfer any certificates for Shares pursuant to this Award
Agreement until all applicable requirements of law have been complied with and
such Shares shall have been duly listed on any securities exchange on which the
Shares may then be listed.  Grantee (i) is not entitled to receive any
dividends or dividend equivalents, whether such dividends would be paid in cash
or in kind, or receive any other distributions made with respect to the
Performance Shares and (ii) does not have nor may he or she exercise any voting
rights with respect to any of the Performance Shares, in both cases (i) and (ii)
above, unless and until the actual Shares underlying the Performance Shares have
been delivered pursuant to this Award Agreement.

    
      
         

      

      
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              Section 8.

            	
              No Effect on Capital
      Structure

            

    

     

    This
Award Agreement shall not affect the right of the Company to reclassify,
recapitalize or otherwise change its capital or debt structure or to merge,
consolidate, convey any or all of its assets, dissolve, liquidate, windup, or
otherwise reorganize.

     

    
      	
            	
              Section 9.

            	
              Adjustments

            

    

     

    Notwithstanding
any provision herein to the contrary, in the event of any change in the number
of outstanding Shares effected without receipt of consideration therefor by the
Company, by reason of a merger, reorganization, consolidation, recapitalization,
separation, liquidation, stock dividend, stock split, share combination or other
change in the corporate structure of the Company affecting the Shares, the
aggregate number and class of Shares subject to this Award Agreement shall be
automatically adjusted to accurately and equitably reflect the effect thereon of
such change; provided, however, that any fractional share resulting from such
adjustment shall be eliminated. In the event of a dispute concerning such
adjustment, the decision of the Board shall be conclusive.

     

    
      	
            	
              Section
10.

            	
              Amendments

            

    

     

    This
Award Agreement may be amended only by a writing executed by the Company and the
Grantee which specifically states that it is amending this Award Agreement;
provided that this Award Agreement is subject to the power of the Board to amend
the Plan as provided therein.  Except as otherwise provided in the
Plan, no such amendment shall materially adversely affect the Grantee's rights
under this Award Agreement without the Grantee's consent.

     

    
      	
            	
              Section
11.

            	
              Board
      Authority

            

    

     

    Any
questions concerning the interpretation of this Award Agreement, any adjustments
required to be made under Sections 9 or 10 of this Award Agreement, and any
controversy which arises under this Award Agreement shall be settled by the
Board in its sole discretion.

     

    
      	
            	
              Section
12.

            	
              Withholding

            

    

     

    At the
time the Performance Shares are delivered to you pursuant to this Award
Agreement, the Company will be obligated to pay withholding taxes on your
behalf.  Accordingly, the Company shall have the power to withhold, or
require you to remit to the Company, an amount sufficient to satisfy any such
federal, state, local or foreign withholding tax requirements.  At the
Company's discretion, withholding may be taken from other compensation payable
to you or may be satisfied by reducing the number of Performance Shares
deliverable to you.

     

    
      	
            	
              Section
13.

            	
              Notice

            

    

     

    Whenever
any notice is required or permitted hereunder, such notice must be given in
writing by (a) personal delivery, or (b) expedited, recognized delivery service
with proof of delivery, or (c) United States Mail, postage prepaid, certified
mail, return receipt requested, or (d) telecopy or email (provided that the
telecopy or email is confirmed).  Any notice required or permitted to
be delivered hereunder shall be deemed to be delivered on the date which it was
personally delivered, sent to the intended addressee, or, whether actually
received or not, on the third business day after it is deposited in the United
States mail, certified or registered, postage prepaid, addressed to the person
who is to receive it at the address which such person has theretofore specified
by written notice delivered in accordance herewith. The Company or the Grantee
may change, at any time and from time to time, by written notice to the other,
the address specified for receiving notices.  Until changed in
accordance herewith, the Company's address for receiving notices shall be Garmin
Ltd., Attention: General Counsel, 1200 East 151st Street, Olathe, KS
66062.  Unless changed, the Grantee's address for receiving notices
shall be the last known address of the Grantee on the Company's
records.  It shall be the Grantee's sole responsibility to notify the
Company as to any change in his or her address.  Such notification
shall be made in accordance with this Section 13.

    
      
         

      

      
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              Section
14.

            	
              Severability

            

    

     

    If any
part of this Award Agreement is declared by any court or governmental authority
to be unlawful or invalid, such unlawfulness or invalidity shall not serve to
invalidate any part of this Award Agreement not declared to be unlawful or
invalid.  Any part so declared unlawful or invalid shall, if possible,
be construed in a manner which gives effect to the terms of such part to the
fullest extent possible while remaining lawful and
valid.  Additionally, if any of the covenants in Section 6 are
determined by a court to be unenforceable in whole or in part because of such
covenant's duration or geographical or other scope, such court shall have the
power to modify the duration or scope of such provision as the case may be, so
as to cause such covenant, as so modified, to be enforceable.

     

    
      
        	
              	
                Section
15.

              	
                 Binding
      Effect

              

      

    

     

    This
Award Agreement shall bind, and, except as specifically provided herein, shall
inure to the benefit of the respective heirs, legal representatives, successors
and assigns of the parties hereto.

     

    
      	
            	
              Section
16.

            	
              Governing
      Law

            

    

     

    This
Award Agreement and the rights of all persons claiming hereunder shall be
construed and determined in accordance with the laws of the State of Kansas
without giving effect to the principles of the Conflict of Laws to the
contrary.

    
      
         

      

      
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    EXHIBIT
B

    

    Pro Forma
Net income means net income calculated using U.S. generally accepted accounting
principles as represented in the Company’s annual audited consolidated financial
statements included in its annual reports on Form 10-K plus annual income tax
provision, plus interest expense, minus interest income, plus foreign currency
loss, minus foreign currency gain, plus loss on the sale of equity securities,
minus gain on the sale of equity securities, plus other expense, minus other
income.

    
      
         

      

      
        9Unassociated Document

    
      EXHIBIT
10.1 

    

     

    AMENDED
AND RESTATED CHANGE OF CONTROL AGREEMENT

     

    This
Amended and Restated Change of Control Agreement (this “Agreement”) is made this
_______ day of ________, 2008 by and between ____________ (the “Executive”) and
Pericom Semiconductor Corporation, a California corporation (the
“Company”).

     

    WHEREAS,
the Executive is employed by the Company; and

     

    WHEREAS,
the Executive and the Company are party to that certain Change of Control
Agreement dated as of [•] (the “Prior Agreement”), which provides for, among
other provisions, the payment of severance and other benefits to the Executive
upon the termination of the Executive’s employment with the Company following a
Change of Control (as hereinafter defined), under certain circumstances
specified in the Prior Agreement.

     

    WHEREAS,
the Company and the Executive now find it desirable and necessary to enter into
this Agreement, which amends the provisions of the Prior Agreement to comply
with the requirements of Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”), and the Executive now wishes to manifest his or her
consent to the amendments to the Prior Agreement by entering into this
Agreement.

     

    NOW,
THEREFORE, in consideration of the mutual covenants contained herein, the
parties hereto agree as follows:

     

    1.           Definitions.

     

    (a)           Change of
Control.  For purposes of this Agreement only, a “Change of
Control” shall be defined as any of the following events:

     

    (i)           An
acquisition (other than directly from the Company) of any voting securities of
the Company (the “Voting Securities”) by any “Person” (as the term is used for
purposes of Section 13(d) or 14(d) of the Securities Exchange Act of 1934, as
amended (the “1934 Act”)) immediately after which such Person has “Beneficial
Ownership” (within the meaning of Rule 13d-3 promulgated under the 1934 Act),
directly or indirectly, of securities of the Company representing fifty percent
(50%) or more of the combined voting power of the Company’s then outstanding
Voting Securities;

     

    (ii)           A
merger or consolidation in which the Company is not the surviving entity, except
for (1) a transaction in which the principal purpose is to change the state of
the Company’s incorporation, or (2) a transaction in which the Company’s
stockholders immediately prior to such merger or consolidation hold (by virtue
of securities received in exchange for their shares in the Company) securities
of the surviving entity representing more than fifty percent (50%) of the total
voting power of such entity immediately after such transaction;

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

     

    (iii)           The
individuals who are members of the Company’s Board of Directors (the “Board”) as
of the date this Agreement is approved by the Board (the “Incumbent Board”)
cease for any reason to constitute at least a majority of the Board; provided, however, that if
the appointment, election or nomination for election by the Company’s
stockholders, of any new director is approved by a vote of at least two-thirds
of the Incumbent Board, such new director shall, for purposes of this Agreement,
be considered a member of the Incumbent Board; provided further, however,
that no individual shall be considered a member of the Incumbent Board if such
individual initially assumed office as a result of either an actual or
threatened “Election Contest” (as described in Rule 14a 11 promulgated the 1934
Act) or other actual or threatened solicitation of proxies or consents by or on
behalf of a Person other than the Board (a “Proxy Contest”) including by reason
of any agreement intended to avoid or settle any Election Contest or Proxy
Contest;

     

    (iv)           The
sale, transfer or other disposition of all or substantially all of the assets of
the Company, unless the Company’s stockholders immediately prior to such sale,
transfer or other disposition hold (by virtue of securities received in exchange
for their shares in the Company) securities of the purchaser or other transferee
representing more than fifty percent (50%) of the total voting power of such
entity immediately after such transaction; or

     

    (v)           Any
reverse merger in which the Company is the surviving entity but in which the
Company’s stockholders immediately prior to such merger do not hold (by virtue
of their shares in the Company held immediately prior to such transaction)
securities of the Company representing more than fifty percent (50%) of the
total voting power of the Company immediately after such
transaction.

     

    (b)           Cause.  For
purposes of this Agreement only, the Company shall have “Cause” to immediately
terminate the Executive’s employment hereunder if (i) Executive engages in fraud
or embezzlement against the Company and/or its subsidiaries, (ii) Executive
misappropriates Company property, proprietary information and/or trade secrets,
(iii) Executive demonstrates material unfitness for service or persistent
deficiencies in performance, (iv) Executive engages in misconduct, which
misconduct is demonstrably and materially injurious to the Company and/or its
subsidiaries; (v) Executive refuses to follow a specific, lawful direction or
order of the Company; (vi) Executive breaches any provision of this Agreement or
other agreements between Executive and the Company; or (vii) Executive dies or
becomes mentally or physically incapacitated and cannot carry out his
duties.

     

    (c)           Voluntary Resignation for Good
Reason.  A voluntary resignation by Executive “Good Reason”
shall mean a voluntary resignation by Executive following any one of the
following events, provided Executive provides Company with at least two (2)
weeks notice of such termination, and provides such notice no later than thirty
(30) days following any one of the following events:  (i) a material
change in Executive’s position, title, duties, or responsibilities, without
Employee’s consent, which results in a material reduction of Executive’s level
of responsibility, the assignment of duties and responsibilities which are
materially inconsistent with Executive’s position or responsibilities, or the
removal of the Executive from or failure to reelect the Executive to any of such
positions, except in connection with the termination of employment for Cause;
(ii) a reduction by the Company in the Executive’s annual salary then in effect,
without Executive’s consent, other than a reduction similar in percentage to a
reduction generally applicable to similarly situated employees of the Company;
(iii) a material reduction without the Executive’s consent in the kind or level
of benefits provided to Executive under any benefit plan of the Company in which
the Executive is participating or deprive the Executive of any material fringe
benefit enjoyed by the Executive, except those changes generally affecting
similarly situated employees of the Company.

     

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

    

     

    (d)           Closing
Date.  “Closing Date” shall mean the date of the first closing
of any transactions constituting a Change of Control.

     

    (e)           Termination
Date.  “Termination Date” shall mean the date the Executive’s
employment is terminated by the Company other than for Cause or is terminated by
the Executive for Good Reason.

     

    (f)           Company.  “Company”
shall mean Pericom Semiconductor Corporation and its successors or assigns
(including without limitation, any entity, entities or persons acquiring control
of the Company through a Change of Control).

     

    2.           Severance Payments and Benefits;
Vesting of Equity Incentives.  If, during the twelve (12) month
period following the Closing Date of a Change of Control, the Company shall
terminate the Executive’s employment other than for Cause or the Executive shall
voluntarily resign from employment for Good Reason, then in such
event:

     

    (a)           Severance
Payments.  The Company shall pay the Executive, in a lump sum
in cash within 30 days after the Termination Date, an amount equal to
Executive’s annualized base salary as in effect as of the Termination
Date;

     

    (b)           Bonus.  In addition
to the severance payments set forth in Section 2(a) above, the Company shall pay
the Executive a bonus according to the following formula:

     

    (i)           If
the Termination Date occurs after the Executive’s bonus for the last completed
fiscal year has been determined by the Compensation Committee of the Board of
Directors (the “Compensation Committee”) and paid to the Executive, then the
Executive shall receive a bonus in the amount of no less than:

     

    X1 + X1
(Y/365)

     

    (ii)           If
the Termination Date occurs before the Executive’s bonus for the last completed
fiscal year has been determined by the Compensation Committee and paid to the
Executive, then the Executive shall receive a bonus in the amount of no less
than:

     

    2(X2) +
X2 (Y/365)

     

    where:

     

    
      	
               
      

            	
              “X1”
      =

            	
              the
      bonus amount paid to the Executive for the last completed fiscal
      year;

            

    

     

    
      	
               
      

            	
              “X2”
      =

            	
              the
      bonus amount paid to the Executive for the fiscal year prior to the last
      completed fiscal year;

            

    

     

    and

     

    
      	
               
      

            	
              “Y”
      =

            	
              the
      number of days in the current fiscal year prior to and including the
      Termination Date.

            

    

     

    The bonus
shall be paid in a lump sum in cash within 30 days after the Termination
Date.  Such amount shall be payable to the Executive regardless of the
Company’s financial performance, and shall not be conditioned on the Company’s
continued satisfaction of any goals or criteria required by any compensation
plan;

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

    

     

    (c)           Medical and Dental
Benefits.  During the period of twelve months commencing on the
date next following the Termination Date (the “Severance Period”), the Company
shall either, at its discretion:  (i) continue the Executive’s medical
and dental benefits as such benefits are generally offered to the Company’s
employees as of the Termination Date, or (ii) reimburse the Executive for COBRA
payments made by the Executive to maintain his medical and dental benefits, as
applicable under the Company’s insurance policies;

     

    (d)           Life
Insurance.  During the Severance Period, the Company shall
continue payment of the Executive’s life insurance premiums, if
applicable;

     

    (e)           Stock Options, Performances Shares
or Units and Restricted Shares or Units.  Any outstanding stock
option, performance share or unit, or restricted share or unit shall vest as to
that number of shares or other units that would have been vested on the various
anniversary dates of the Termination Date and become exercisable or, with
respect to such performance share or unit or restricted share or unit, be
released from restrictions on transfer and repurchase rights, immediately prior
to the Termination Date to the extent provided in the addendum to this Agreement
relating to vesting acceleration; and

     

    (f)           Extension of Stock Option Exercise
Term.  All vested stock options held by the Executive as of the
Termination Date shall expire six (6) months after the
Termination Date; provided, however, that any extension contemplated by this
provision shall not extend beyond the date that is the earlier of the tenth
anniversary of the date of grant or the original expiration date of the term of
the option.  Note:  Exercising ISO stock
options later than three months after the Executive’s Termination Date is a
disqualifying event for ISO purposes and will turn the ISO into a non-qualifying
stock option.

     

    (g)           Noncompetition and
Nonsolicitation.  Executive acknowledges and agrees that during
his employment with the Company he has had access to the Company’s confidential
and proprietary information and the activities forbidden by this subsection
would necessarily involve the improper use and disclosure of such
information.  To forestall this use or disclosure, Executive agrees
that during the Severance Period he shall not, directly or
indirectly:  (i) engage in (whether as an employee, consultant,
proprietor, partner, director or otherwise) or have any ownership interest in,
or participate in the financing operation, management, control of, any person,
firm, corporation or business that engages in any business activity that is
competitive with the Company (or of any affiliated Company), provided, however,
that nothing contained in this Section 2(g)(i) shall be construed to prohibit
Executive from purchasing and owning (directly or indirectly) up to one percent
(1%) of the capital stock or other securities of any corporation or other entity
whose stock or securities are traded on any national or regional securities
exchange or the national over-the-counter market and such ownership shall not
constitute a violation of this Section 1(e)(1); (ii) divert or attempt to divert
from the Company (or any affiliated Company) any business of any kind in which
it is engaged, including, without limitation, the solicitation of or
interference with any of its suppliers or customers; (iii) solicit, hire,
recruit, or employ any person or entity who is employed by or has a contractual
relationship with the Company, or encourage any person or entity who is employed
by or has a contractual relationship with the Company to terminate their
employment or contractual relationship with the Company.  Executive
understands and agrees his receipt of the benefits described in paragraphs
2(a)-(f) above is contingent upon his continued adherence to the restrictions
set forth in this paragraph 2(g) during the Severance Period.

     

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    

     

    (h)           Application of Section 409A of the
Code.  Anything in this Agreement to the contrary
notwithstanding, any payment under Sections 2(a) or 2(b), and delivery of shares
in connection with the accelerated vesting of an equity award under Section
2(e), in each case, that is nonqualified deferred compensation subject to
Section 409A of the Code shall be paid or delivered only to the extent the
Executive experiences a “separation from service,” within the meaning of Section
409A of the Code.  Further, in the event that the Executive is a
“specified employee,” within the meaning of Section 409A of the Code (as
determined in accordance with the methodology established by the Company as in
effect on the Termination Date) on the Termination Date, any amounts payable
under Sections 2(a) and 2(b) hereof and any delivery of shares underlying
restricted stock units or other equity awards that are subject to accelerated
vesting under Section 2(e) hereof, in each case, to the extent such amounts or
equity awards are nonqualified deferred compensation subject to Section 409A of
the Code, shall be paid or delivered, as applicable, and, in the case of cash
amounts payable under Section 2(a) and 2(b) above, with interest on any delayed
payment at the applicable federal rate provided for in Section 7872(f)(2)(A) of
the Code, on the first business day of the seventh month following the
Termination Date, or, if earlier, the date of Executive’s death, to the extent
such delayed payment or delivery is required in order to avoid a prohibited
distribution under Section 409A(a)(2) of the Code (the “Delayed Payment
Date”).  On the Delayed Payment Date, all payments and delivery of
shares deferred pursuant to this Section 2(h) shall be paid, or delivered, as
applicable, in a lump sum to the Executive, and any remaining payments due under
the Agreement shall be paid in accordance with the normal payment dates
specified in this Agreement.

     

    3.           No Employment Agreement, Employment
at Will.  Executive and the Company each acknowledge and agree
that:  (i) this Agreement does not provide for the terms and
conditions of Executive’s employment with the Company prior to any Change of
Control and does not require or obligate Executive to provide services to the
Company or the Company to continue to employ Executive; and (ii) Executive’s
employment with the Company is and remains an employment relationship terminable
at will and without advance notice by either Executive or the
Company.

     

    4.           Release of the Company and Its
Affiliates.  Executive’s receipt of the benefits described in
paragraphs 2(a)-(f) above shall be contingent upon Executive executing a general
release of claims in a commercially customary form prescribed by the Company,
which releases and discharges the Company and any past, present or future
agents, attorneys, directors, officers, stockholders, employees, affiliates,
predecessors and successors of the Company, of and from any and all claims and
demands of every kind and nature, in law, equity or otherwise, known or unknown,
disclosed or undisclosed, and a covenant not to sue or prosecute any legal
action or proceeding based upon such claims provided that the requirement
contemplated in this Section 4 shall not serve to modify the time and form of
payment of a nonqualified deferred compensation subject to Section 409A of the
Code payable under this Agreement.

     

     

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    5.           Exclusive
Remedy.  Executive’s right to severance payment and other
severance benefits pursuant to paragraphs 2 (a)-(f) above shall be Executive’s
sole and exclusive remedy for any termination of Executive’s employment by the
Company other than for Cause or by Executive for Good Reason following a Change
of Control.  The payments, severance benefits and severance
protections provided to Executive pursuant to this Agreement are provided in
lieu of any severance payments, severance benefits and severance protections
provided in any other plan or policy of the Company, except as may be expressly
provided in writing under the terms of any plan or policy of the Company, or in
a written agreement between the Company and Executive entered into after the
date of this Agreement, and only to the extent as would not result in a
violation of Section 409A of the Code.  Notwithstanding the foregoing,
nothing in this Agreement shall prevent or limit Executive’s continuing or
future participation in any benefit, bonus, incentive or other plan or program
provided by the Company (except for any severance or termination policies,
plans, programs or practices) and for which Executive may qualify, nor shall
anything herein limit or reduce such rights as Executive may have under any
other agreements with the Company (except for any severance or termination
agreement).  Amounts which are vested benefits or which Executive is
otherwise entitled to receive under any plan or program of the Company shall be
payable in accordance with such plan or program, except as explicitly modified
by this Agreement.

     

    6.           Excise
Tax.  Notwithstanding anything contained in this Agreement to
the contrary, to the extent that any payment or benefit (within the meaning of
Section 280G(b)(2) of the Code) to Executive or for Executive’s benefit, paid or
payable or distributed or distributable pursuant to the terms of this Agreement
or otherwise in connection with, or arising out of, Executive’s employment with
the Company or a Change of Control (a “Payment” or “Payments”), would be subject
to the excise tax imposed under Code Section 4999, or any interest or penalties
are incurred by Executive with respect to such excise tax (such excise tax,
together with any such interest and penalties, are hereinafter collectively
referred to as the “Excise Tax”), the Payments shall be reduced (but not below
zero) if and to the extent necessary so that no Payment to be made or benefit to
be provided to Executive shall be subject to the Excise Tax (such reduced amount
is hereinafter referred to as the “Limited Payment Amount”).  The
Company shall reduce or eliminate the Payments by (i) first reducing or
eliminating those payments or benefits which are payable in cash and (ii) then
reducing or eliminating non-cash payments, in each case in reverse order
beginning with payments or benefits which are to be paid the furthest in time
from the Determination (as hereinafter defined); provided, however, that,
anything to the contrary in the foregoing notwithstanding, payments or benefits
that constitute nonqualified deferred compensation subject to Section 409A of
the Code shall be reduced or eliminated last in time .  Any notice
given by Executive pursuant to the preceding sentence shall take precedence over
the provisions of any other plan, arrangement or agreement governing Executive’s
rights and entitlements to any benefits or compensation.

     

    (a)           An
initial determination as to whether the Payments shall be reduced to the Limited
Payment Amount and the amount of such Limited Payment Amount shall be made, at
the Company’s expense, by the accounting firm that is the Company’s independent
accounting firm as of the date of the Change of Control (the “Accounting
Firm”).  The Accounting Firm shall provide its determination (the
“Determination”), together with detailed supporting calculations and
documentation, to the Company and Executive within five (5) days after the
Termination Date, if applicable, or such other time as requested by the Company
or by Executive (provided Executive reasonably believes that any of the Payments
may be subject to the Excise Tax) and, if the Accounting Firm determines that no
Excise Tax is payable by Executive with respect to a Payment or Payments, it
shall furnish Executive with an opinion reasonably acceptable to Executive that
no Excise Tax will be imposed with respect to any such Payment or
Payments.  Within ten (10) days after the delivery of the
Determination to Executive, Executive shall have the right to dispute the
Determination (the “Dispute”).  If there is no Dispute, the
Determination shall be binding, final and conclusive upon the Company and
Executive, subject to the application of Section 6(b) below.

     

    (b)           As
a result of the uncertainty in the application of Sections 4999 and 280G of the
Code, it is possible that the Payments to be made to, or provided for the
benefit of, Executive will be either greater (an “Excess Payment”) or less (an
“Underpayment”) than the amounts provided for by the limitations contained in
this Section 6.

     

     

    
      
         

      

      
        6

        
          

        

      

      
         

      

    

    

     

    (i)           If
it is established, pursuant to a final determination of a court or an Internal
Revenue Service (the “IRS”) proceeding which has been finally and conclusively
resolved, that an Excess Payment has been made, such Excess Payment shall be
deemed for all purposes to be a loan to Executive made on the date Executive
received the Excess Payment, which loan Executive must repay to the Company
together with interest at the applicable federal rate under Code Section
7872(f)(2); provided,
that no loan shall be deemed to have been made and no amount will be payable by
Executive to the Company unless, and only to the extent that, the deemed loan
and payment would either reduce the amount on which Executive is subject to tax
under Code Section 4999 or generate a refund of tax imposed under Code Section
4999.

     

    (ii)           In
the event that it is determined (i) by the Accounting Firm, the Company (which
shall include the position taken by the Company, or together with its
consolidated group, on its federal income tax return) or the IRS, (ii) pursuant
to a determination by a court, or (iii) upon the resolution to Executive’s
satisfaction of the Dispute, that an Underpayment has occurred, the Company
shall pay an amount equal to the Underpayment to Executive within ten (10) days
after such determination or resolution, together with interest on such amount at
the applicable federal rate under Code Section 7872(f)(2) from the date such
amount would have been paid to Executive until the date of payment.

     

    7.           Notices.  All
notices or other communications required or permitted hereunder shall be made in
writing and shall be deemed to have been duly given if delivered by hand, by
facsimile or mailed, postage prepaid, by certified or registered mail, return
receipt requested, and addressed to the Company at:

     

    Pericom
Semiconductor Corporation

    3545
North First Street

    San Jose,
CA 95134

    Attention:  Chief
Executive Officer

     

    or to the
Executive at:

    
___________________________

    ___________________________
___________________________

    

     

    Notice of
change of address shall be effective only when done in accordance with this
Section.

     

    8.           Arbitration.  The
parties hereby agree that any dispute, claim or controversy arising out of,
relating to or in connection with this Agreement (“Arbitrable Claims”) shall be
determined exclusively by and through final and binding arbitration in Santa
Clara County, California, each party hereto expressly and conclusively waiving
its right to proceed to a judicial determination with respect to the merits of
such arbitrable matters.  Such arbitration shall be conducted in
accordance with the American Arbitration Association National Rules for
Resolution of Employment Disputes then in effect before a neutral and impartial
arbitrator who shall be selected by mutual agreement of the
parties.  The arbitrator shall prepare a written decision containing
the essential findings and conclusions on which the award is based so as to
ensure meaningful judicial review of the decision.  The arbitrator
shall apply the same substantive law, with the same statutes of limitations and
same remedies, that would apply if the claims were brought in a court of
law.  This Agreement shall be governed by the California Arbitration
Act and the arbitrator, in ruling on procedural and substantive issues raised in
the arbitration itself, shall apply the substantive law of the State of
California.  Either party may bring an action in court to compel
arbitration under this Agreement and to enforce an arbitration
award.  Otherwise, neither party shall initiate or prosecute any
lawsuit in any way related to any Arbitrable Claim.  Notwithstanding
the foregoing, the parties shall have the right to obtain provisional remedies
or interim relief from a court of competent jurisdiction for any claim or
controversy arising out of or related to violations of Section 2(g) of this
Agreement.  THE PARTIES HEREBY WAIVE ANY RIGHTS THEY MAY HAVE TO TRIAL
BY JURY IN REGARD TO ARBITRABLE CLAIMS.

     

     

    
      
         

      

      
        7

        
          

        

      

      
         

      

    

    

     

    9.           Successors.  This
Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their respective heirs, executors, administrators, successors and
assigns.  Neither this Agreement nor any right or interest hereunder
shall be assignable or transferable by Executive or Executive’s beneficiaries or
legal representatives, except by will or by the laws of descent and
distribution.  This Agreement shall inure to the benefit of and be
enforceable by Executive’s legal personal representative.

     

    10.           Governing Law.  The
interpretation, performance and enforcement of this Agreement shall be governed
by the laws of the State of California.

     

    11.           Entire
Agreement.  This Agreement represents the entire Agreement and
understanding between the Company and the Executive concerning the Executive’s
termination of employment with the Company after a Change of
Control.  This Agreement supersedes any prior agreement or
understanding of the parties with respect to the subject matter hereof,
including, without limitation, the Prior Agreement.

     

    12.           Amendment or
Waiver.  No provision of this Agreement may be amended unless
and to the extent such amendment is agreed to in writing and signed by both the
Executive and an authorized officer of the Company.  No waiver by
either party of any breach by the other party of any condition, obligation,
performance or provision contained in this Agreement shall be deemed a waiver of
a similar or dissimilar condition or provision at the same or any prior or
subsequent time. Any waiver must be in writing and signed by the party to be
charged with the waiver.

     

    13.           Compliance with Section 409A of the
Code.  It is the intent of the parties to this Agreement that
any of the payments set forth in this Agreement that constitute nonqualified
deferred compensation subject to Section 409A of the Code shall be made in a
manner that complies with Section 409A of the Code and any ambiguities will be
construed accordingly.  The Company reserves the right, to the extent
the Company deems necessary or advisable in its sole discretion, to unilaterally
amend or modify this Agreement as may be necessary to ensure that all benefits
provided under this Agreement are made in a manner that qualifies for exemption
from or complies with Section 409A of the Code to the extent permitted under
Section 409A of the Code, provided, however, that the Company makes no
representations that the compensation or benefits provided under this Agreement
will be exempt from or comply with Section 409A of the Code and makes no
undertaking to preclude Section 409A of the Code from applying to the
compensation and benefits provided under this Agreement.

     

    14.           Severability.  If
any provision of this Agreement of the application thereof to any person, place,
or circumstance, shall be held by a court of competent jurisdiction to be
invalid, unenforceable, or voice, the remainder of this Agreement and such
provisions as applied to other persons, places, and circumstances shall remain
in full force and effect.

     

    15.           Counterparts.  This
Agreement may be executed in counterparts, and each counterpart shall have the
same force and effect as the original and shall constitute an effective, binding
agreement on the part of each of the undersigned.

     

    16.           Attorneys’
Fees.  If any legal action, arbitration or other proceeding is
brought to interpret or enforce the terms of this Agreement, the prevailing
party shall be entitled to recover reasonable attorneys’ fees and any other
costs incurred in that proceeding, in addition to any other relief to which it
is entitled.

     

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

     

     

    
      
         

      

      
        8

        
          

        

      

      
         

      

    

    

     

    PERICOM
SEMICONDUCTOR CORPORATION, EXECUTIVE:

    a
California corporation

    

    

    By:  ___________________________        By:  ___________________________         

    [Signature]                                                                           [Signature]

    

    

    Title:  ___________________________     Title:
___________________________                                                 

    [Print
Name]                                                                           [Print
Name]

    

    

    Addendum—Vesting
Acceleration

     

    If,
during the 12 (twelve) months following a Change of Control, the Company
terminates the Executive’s employment for any reason other than Cause or the
Executive voluntarily resigns from employment for Good Reason, then the vesting
of outstanding options, restricted stock awards and restricted stock units then
held by the Executive shall be accelerated as follows:

     

    If the
Executive has completed two years of service as of the Termination Date — one
full year of acceleration

    If the
Executive has completed over two years of service but less than four years as of
the Termination Date — two full years of acceleration

    If the
Executive has completed over four years of service — all options, restricted
stock awards and restricted stock units will be accelerated

    

     

    
 

    
      
         

      

      
        9

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