Document:

exv10w34

Exhibit 10.34

[Execution Copy]

SEPARATION AGREEMENT AND GENERAL RELEASE

     THIS SEPARATION AGREEMENT AND GENERAL RELEASE (the “Agreement”) is made and entered into this
23rd day of January, 2009 (the “Agreement Date”), between Dr. Claudine Simson (the “Employee”) and
LSI Corporation (together with its predecessors and its successors and assigns, the “Company”).

W I T N E S S E T H:

     WHEREAS, the Employee is currently employed by the Company;

     WHEREAS, the Company and the Employee (the “Parties”) desire to set forth the terms on which
the Employee is leaving her employment with the Company; and

     WHEREAS, the Parties have negotiated and agreed to a final settlement of their respective
rights, obligations and liabilities;

     NOW THEREFORE, in consideration of the promises and covenants contained in this Agreement, the
Parties agree as follows:

     1. Resignation. The Employee acknowledges and agrees that, effective as of January
16, 2009 (the “Status Change Date”), the Employee hereby resigns all of her positions with the
Company (including, but not limited to, her status as an Executive Vice President, Chief Technology
Officer of the Company), and any other positions (including directorships) with other entities that
are affiliated with the Company, other than her position as a Technical Consultant, as described in
Section 2 below. The Employee agrees to execute any documents that may be necessary or appropriate
to effect or to memorialize any resignations from the Company or its affiliates contemplated by
this Agreement, including the letter of resignation in the form attached hereto as Annex
A concurrent herewith. Until the Status Change Date, the Employee shall continue to devote
her skills and abilities to the Company on a full time regular basis. Notwithstanding any of the
terms of this Agreement, the Employee remains an “at will” employee for all purposes.

     2. Change In Status. From and after the Status Change Date, all compensation and
benefits shall cease, except for those specifically listed in this Section 2. The Employee’s
position with the Company, including all compensation and eligibility for benefits (other than
post-termination benefits specifically described herein), shall terminate on April 21, 2009 (the
“Termination Date”).

     2.1 Position. The Employee will remain an employee of the Company until such
time as her employment terminates on the Termination Date. The Employee’s job title, as of
the Status Change Date, will be “Technical Consultant.” In this position, the Employee
will be required to provide technical consulting to the Company on an as-needed basis. The
Employee’s position as Technical Consultant, and any other position with the Company, will
terminate as of the Termination Date. During the Employee’s tenure as a Technical
Consultant from the Status Change Date until the Termination Date, the Employee shall be
paid monthly salary of $29,166.66, paid every two weeks, less any and all statutory
withholding and deductions as may be required by law or as authorized by the Employee (the
gross amount being the “Continuation Salary”).

     2.2 Separation Payment. Within thirty (30) days of the Termination Date, the
Company agrees to pay the Employee a separation payment in an amount equal to $350,000.00
less any and all statutory withholding and deductions as may be required by law or as
authorized by the Employee.

Page 1 of 7 

 

     2.3 Stock Rights. The Employee will not be eligible to receive any further
stock option or restricted stock unit grants after the Status Change Date. However,
existing stock option and restricted stock unit grants will continue to vest, until the
Termination Date, as described in Section 3, below.

     2.4 Benefit Plans. The Employee and the Employee’s dependents shall continue
to be covered by the Company’s group benefit plans (e.g., medical, dental, vision care, and
life insurance), at the Company’s expense, except for the employee-paid portion of such
premiums, until the last day of the month in which the Termination Date falls, to the same
extent the Employee and the Employee’s dependents were covered by said plans as of the
Agreement Date. If the Employee desires to continue coverage, pursuant to COBRA, after the
Termination Date, the Employee may do so at the Employee’s own expense; provided, however,
that the Company shall reimburse the Employee for the first twelve (12) month’s of COBRA
coverage. The Employee understands and agrees that she must complete a COBRA application
in order to receive the extension of health benefits beyond the Termination Date.

     2.5 Incentive Bonus Plans and Other Benefits. The Employee will no longer be
eligible to participate in any bonus program after the Status Change Date. The Employee
will not be entitled to any other compensation, perquisites or benefits after the Status
Change Date, other than what is specifically set forth in this Section 2. The Employee
will be eligible for payment of a bonus for the Company’s 2008 fiscal year as determined by
the Company’s Chief Executive Officer and Compensation Committee of the Board of Directors.

     3. Outstanding Stock Rights. The Employee acknowledges that she holds the stock
options and restricted stock units (the “Stock Rights”) set forth on Annex B
attached hereto and incorporated herein by this reference. The Employee acknowledges and agrees
that she has no other options, stock units, or other rights received from the Company to purchase
any stock or securities of the Company or any affiliate thereof (collectively, the “Issuers”). The
Employee’s outstanding Stock Rights will continue to vest through the Termination Date. Any vested
stock options must be exercised within 90 days of the Termination Date. The Employee understands
and agrees that all Stock Rights which have not vested on or before the Termination Date will
expire on the Termination Date, and vested stock options not exercised within 90 days of the
Termination Date will expire on the 91st day following the Termination Date. The Employee
acknowledges and agrees that she does not enter into this Agreement on the basis of or in reliance
in any way on any representation or assurance of any Issuer or any officer, director, employee or
agent of any Issuer regarding the current or future value of her Stock Rights or of any stock or
securities of any Issuer.

     4. Release.

     (a) The Employee, for herself, and her heirs, executors, administrators, assigns, successors,
agents, and representatives, hereby irrevocably and unconditionally releases and forever discharges
the Company, and each and all of its heirs, executors, administrators, successors, assigns,
predecessors, owners, shareholders, agents, representatives, employees, consultants, insurers,
officers, directors, attorneys, affiliates, partners, and corporate parents, subsidiaries, and
divisions (referred to herein collectively as the “Related Entities”) from any and all liabilities,
claims, demands, contracts, debts, obligations and causes of action of every nature, character and
description, past, present, and future, known or unknown, vested or contingent, ascertained or
unascertained, suspected or unsuspected, existing or claimed to exist, in law, admiralty, or
equity, under any theory of the law, whether common, constitutional, statutory, or otherwise, in
any jurisdiction, foreign or domestic, which the Employee now owns or holds, or has at any time
heretofore owned or held, by reason of any matter, cause or thing occurred, done, omitted or
suffered to be done from the beginning of the world to the day of the Agreement Date, including,
without limitation, (i) the Employee’s employment relationship with the Company (or any Related
Entity), including employment through the Termination Date; and (ii) the termination of the

Page 2 of 7 

 

Employee’s employment with the Company (or any Related Entity), including the Employee’s
resignation as a vice president of the Company.

     (b) The Employee acknowledges that the release contained in this Agreement includes, but is
not limited to, a release of all claims the Employee may have under all state, federal and local
laws pertaining to discrimination, harassment, the California or other applicable state Labor Code,
family and medical leave laws, wage and hour laws, disability laws, civil rights laws, as well as
laws pertaining to claims of or for emotional distress, defamation, breach of contract, breach of
the covenant of good faith and fair dealing, as well as equal pay laws and laws pertaining to
wrongful discharge, including, without limitation, the Equal Pay Act, the Occupational Safety and
Health Act, Title VII of the Civil Rights Act of 1964, Sections 1981 through 1988 of the Civil
Rights Act of 1866, the Civil Rights Act of 1991, the Age Discrimination in Employment Act of 1967,
the Americans with Disabilities Act, the Fair Labor Standards Act and its state and local
counterparts, claims of discrimination under the Employee Retirement Income Security Act, the
Worker Adjustment and Retraining Notification Act, the Older Workers Benefit Protection Act, the
Family and Medical Leave Act, the Rehabilitation Act of 1973, Executive Order 11246 and any other
executive order, the Uniform Services Employment and Reemployment Rights Act, the Immigration
Reform Control Act , the California Family Rights Act, and the California Fair Employment and
Housing Act, all as amended. It is expressly understood by the Employee that among the various
rights and claims being waived in this release are those arising under the Age Discrimination in
Employment Act of 1967. The Employee understands that rights or claims under this law that may
arise after the date this Agreement is executed by her are not waived. The Employee also
understands that nothing in this Agreement is to be construed to interfere with the Employee’s
ability to file a charge with the Equal Employment Opportunity Commission concerning this Agreement
or any conduct released herein, but the Employee acknowledges that by this Agreement she waives any
ability to further collect, directly or indirectly, any monetary or non-monetary award based on any
conduct or omissions against the Company or any of the Related Entities.

     (c) The Employee understands and agrees that if, hereafter, the Employee discovers facts
different from or in addition to those which the Employee now knows or believes to be true, that
the waivers and releases of this Agreement shall be and remain effective in all respects
notwithstanding such different or additional facts or the discovery of such fact. The Employee
further agrees that the Employee fully and forever waives any and all rights and benefits conferred
upon the Employee by the provisions of Section 1542 of the Civil Code of the State of California,
or any other similar federal, state, or local law, which states as follows (parentheticals added):

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR (i.e., THE
EMPLOYEE) DOES NOT KNOW OR SUSPECT TO EXIST IN HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HER MUST HAVE MATERIALLY AFFECTED HER SETTLEMENT
WITH THE DEBTOR (i.e., THE COMPANY).”

     (e) The provisions of this Section 4 shall survive the termination or expiration of this
Agreement for any reason.

     5. Restrictive Covenants; Confidentiality and Return of Company Property.

     (a) Until April 20, 2010, the Employee shall not, without the prior written consent of the
Company’s Chief Executive Officer, (i) directly or indirectly solicit (or encourage any company or
business organization in which the Employee is an officer, employee, partner, director, consultant
or member of a technical advisory board to solicit or employ) or (ii) refer to any employee search
firms, any person who was employed by the Company as of the date hereof.

     (b) Until April 20, 2010, the Employee shall not, without the prior written consent of the
Company’s Chief Executive Officer, at any time or for any reason, anywhere in the world, directly
or indirectly (i) engage in any business or activity, whether as an employee, consultant, partner,

Page 3 of 7 

 

principal, agent, representative, stockholder (except as a holder of less than 5% of the
combined voting power of the outstanding stock of a publicly held company) or in any other
individual, corporate or representative capacity, or render any services or provide any advice to
any business, activity, person or entity, if the Employee knows or reasonably should know that such
business, activity, service, person or entity, directly or indirectly, competes in any material
manner with the Company’s business as constituted on the date hereof, or (ii) meaningfully assist,
help or otherwise support any person, business, corporation, partnership or other entity or
activity, whether as an employee, consultant, partner, principal, agent, representative,
stockholder (other than in the capacity as a stockholder of less than 5% of the combined voting
power of the outstanding shares of stock of a publicly held company) or in any other individual,
corporate or representative capacity, to create, commence or otherwise initiate, or to develop,
enhance or otherwise further, any business or activity if you know or reasonably should know that
such business, activity, service, person or entity, directly or indirectly, competes in any
material manner with the Company’s business as constituted on the date hereof. For the purposes of
this Agreement, the Company’s competitors shall be those companies listed in the “Competition”
section of the Company’s Form 10-K for the fiscal year ended December 31, 2008.

     (c) If at any time the Employee violates the provisions above, any amounts remaining unpaid as
set forth in this Agreement as well as any benefits provided for in this Agreement (other than
those from qualified retirement or welfare plans) and any continuing vesting of stock options or
restricted stock units, if any, shall immediately be forfeited and terminated, and any amounts
already paid to the Employee in accordance with this Agreement, except for the sum of One Thousand
Dollars ($1,000) shall, at the Company’s sole discretion, be required to be repaid by the Employee
to the Company within ten (10) business days of the Company’s request in writing therefore. This
provision shall not affect the Company’s right to otherwise specifically enforce any provision
relating to non-solicitation or non-competition that is in this Agreement or in any other
agreement, document or plan applicable to the Employee.

     (d) The Employee acknowledges, agrees, and warrants that she will continue to maintain the
confidentiality of all confidential and proprietary information of the Company and third parties,
and shall abide by the terms and conditions of the Employee Invention and Confidential Information
Agreement entered into between the Employee and the Company.

     (e) The Employee represents and warrants that to the best of her knowledge and belief she has
returned to the Company all tangible and intangible property of the Company in her possession,
custody, or control except for her computer and cell phone, which the parties agree that she will
retain. In addition, notwithstanding the foregoing representation and warranty, if the Employee
discovers she has retained any property of the Company, she shall promptly notify the Company
thereof and take reasonable steps in accordance with the Company’s instructions to return such
property to the Company. The provisions of this Section 5 shall survive the expiration or
termination, for any reason, of this Agreement.

     6. Governing Law. This Agreement is entered into in the State of California and shall
be construed and interpreted in accordance with the laws of the State of California, excluding any
conflicts or choice of law rule or principle that might otherwise refer construction or
interpretation of this Agreement to the substantive law of any other jurisdiction.

     7. Confidentiality of this Agreement. The Employee warrants and agrees, absolutely
and unconditionally, that, absent the compulsion of legal process, she will keep the existence of
this Agreement and the terms hereof, including, without limitation, the amount of money and
consideration she is receiving, completely confidential, and that she has done so; provided,
however, that the Employee may disclose the existence of this Agreement and its terms, in
confidence, to her spouse and her attorneys, accountants, or other professional advisors who have a
legitimate need to know the information contained herein.

Page 4 of 7 

 

     8. Further Actions. The Employee, for herself, and her heirs, executors,
administrators, assigns and successors, covenants not to sue or otherwise institute or cause to be
instituted or in any way actively participate in or voluntarily assist in (except at the Company’s
request or as provided by law) the prosecution of any legal or administrative proceedings against
the Company and/or any of the Related Entities with respect to any matter arising out of or
relating to any liabilities, claims, demands, contracts, debts, obligations and causes of action
released hereunder.

     9. No Admission of Liability. The Employee and the Company both acknowledge and agree
that this is a compromise settlement of the hereinabove mentioned dealings and disputes, which is
not in any respect to be deemed, construed, or treated as an admission or a concession of any
liability or wrongdoing whatsoever by either party for any purpose whatsoever.

     10. Non-Disparagement. The Employee and the Company agree that, in the future,
neither will make any disparaging or defamatory remarks about the other or any of the Related
Entities.

     11. Severability. If any term, clause or provision of this Agreement is construed to
be or adjudged invalid, void or unenforceable, such term, clause or provision will be construed as
severed from this Agreement, and the remaining terms, clauses and provisions will remain in full
force and effect.

     12. Counterparts. This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered will be deemed to be an original and all of which taken
together will constitute one and the same instrument.

     13. Entire Agreement. This Agreement constitutes the entire understanding of the
parties with respect to the subject matter hereof and supersedes any and all prior, contemporaneous
or subsequent statements, representations, agreements or understandings, whether oral or written,
between the parties with respect hereto. This Agreement shall inure to the benefit of the
executors, administrators, heirs, successors and assigns of the parties hereto. The terms of this
Agreement may only be modified by a written instrument signed by the Employee and an authorized
officer of the Company.

     14. Execution. For this Agreement to be effective, the Employee must sign and date it
on the last page hereof, and return the executed original to the undersigned representative of the
Company, no later than the close of business on the date twenty-one (21) days after the Agreement
Date, or this Agreement will be deemed rescinded by the Company, and thereafter void for all
purposes.

     15. Rescission Period. The Employee understands that she has a full seven (7) days
following her execution and delivery of this Agreement to the Company to revoke her consent to this
Agreement by notifying the undersigned representative of the Company, of such revocation, in
writing, within that seven-day period. This Agreement shall not be effective or enforceable until
the seven-day revocation period has expired (the “Effective Date”). In the event that the Employee
revokes this Agreement prior to the Effective Date, the Agreement shall be deemed void and neither
party shall have any obligation hereunder, including the Company’s obligation to pay the amounts
described herein.

     16. Notices. All notices, requests, demands, and other communications called for
hereunder will be in writing and will be deemed given (a) on the date of delivery if delivered
personally, (b) one day after being sent overnight by a well established commercial overnight
service, or (c) four days after being mailed by registered or certified mail, return receipt
requested, prepaid and addressed to the parties or their successors at the following addresses, or
at such other addresses as the parties may later designate in writing:

Page 5 of 7 

 

	 	 	 	 	 
	 

	 	To the Company:
	 	LSI Corporation
	 

	 	 	 	1110 American Parkway NE
	 

	 	 	 	Allentown, PA 18109
	 

	 	 	 	Attn: General Counsel
	 
	 	 	 	 
	 

	 	To the Employee:
	 	Claudine Simson
	 

	 	 	 	[at the home address of record in the Employee’s personnel file]

     17. Opportunity to Consult Counsel. The Employee hereby acknowledges that she has
read and understands the foregoing Agreement and is being given the opportunity to consider this
Agreement for up to a full twenty-one (21) days from her receipt of this Agreement. The Employee
is advised to consult with an attorney of her own choosing before signing this Agreement. The
Employee may execute this Agreement at any time prior to the expiration of the 21-day period and
that if she does so, she does so voluntarily, without any threat or coercion from anyone, knowing
that she is waiving her statutory right to consider this Agreement for a full twenty-one (21) days.

Page 6 of 7 

 

BY SIGNING AND DELIVERING THIS AGREEMENT, THE EMPLOYEE STATES:

     a. SHE HAS READ IT AND UNDERSTANDS IT AND HAS AT LEAST 21 DAYS TO CONSIDER IT AND A PERIOD OF
SEVEN DAYS AFTER EXECUTING IT TO REVOKE IT;

     b. SHE AGREES WITH IT AND IS AWARE THAT SHE IS GIVING UP IMPORTANT RIGHTS, INCLUDING RIGHTS
PROVIDED BY THE OLDER WORKERS BENEFIT PROTECTION ACT, FOR CONSIDERATION TO WHICH SHE WAS NOT
ALREADY OTHERWISE ENTITLED;

     c. SHE WAS ADVISED TO, AND IS AWARE OF HER RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING
IT; AND

     d. SHE HAS SIGNED IT KNOWINGLY AND VOLUNTARILY.

     IN WITNESS WHEREOF, the Parties have executed this Agreement on the date first written above.

	 	 	 	 	 	 	 
	 	 	LSI CORPORATION,
	 	 
	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	/s/ Dr. Claudine Simson
 

DR. CLAUDINE SIMSON

	 	By:
	 	/s/ Jon R. Gibson
 

JON R. GIBSON
	 	 
	 

	 	 	 	Vice President, Human Resources	 	 

Date: January 23, 2009

Page 7 of 7 

 

Annex A

January 23, 2009

To Whom It May Concern:

Effective as of the date hereof, I hereby resign all positions I hold as an officer or director of
LSI Corporation and any of its subsidiaries or affiliates, including any such positions or
directorships that may be listed on any appendix to this letter.

Very truly yours,

/s/ Dr. Claudine Simson

Dr. Claudine Simson

Annex A - Page 1 of 1 

 

Annex B

	 	 	 	 	 
	 

	 	LSI CORPORATION
	 	Page: 1 
	Options and Awards Summary

	 	ID:94-2712976
	 	File: Optisum
	 

	 	1621 BARBER LANE
	 	Date: 01/14/2009
	 

	 	MILPITAS, CALIFORNIA 95035
	 	Time: 9:25:02AM

As of:  01/14/2009

$0.000000

CLAUDINE Y SIMSON

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Option No: 048137	 	 	Option Date: 03/26/2007	 	 	Shares: 300,000	 	 	Price: $10.180000	 	 	Plan: 1991	 	 	Type: NQ	 	 	Accept Date:	 
	 
	VESTING SCHEDULE	 	 	 	 	 	 	 	 	 	 	TRANSCTIONS	 	 	 	 	 	 	CANCELLATIONS	 
	Granted	 	 	Full Vest	 	Exercisable	 	 	Total Price	 	 	Expires	 	 	Date	 	 	Type	 	 	Shares	 	 	Value	 	 	Date	 	 	Reason	 	 	Shares	 
	 
	 	75,000	 	 	03/26/2008
	 	 	75,000	 	 	$	763,500.00	 	 	 	03/26/2014	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	75,000	 	 	03/26/2009
	 	 	0	 	 	$	0.00	 	 	 	03/26/2014	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	75,000	 	 	03/26/2010
	 	 	0	 	 	$	0.00	 	 	 	03/26/2014	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	75,000	 	 	03/26/2011
	 	 	0	 	 	$	0.00	 	 	 	03/26/2014	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	300,000	 	 	 
	 	 	75,000	 	 	$	763,500.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Option No: 049304	 	 	Option Date: 03/01/2008	 	 	Shares: 125,000	 	 	Price: $5.040000	 	 	Plan: 1991	 	 	Type: NQ	 	 	Accept Date:	 
	 
	VESTING SCHEDULE	 	 	 	 	 	 	 	 	 	 	TRANSCTIONS	 	 	 	 	 	 	CANCELLATIONS	 
	Granted	 	 	Full Vest	 	Exercisable	 	 	Total Price	 	 	Expires	 	 	Date	 	 	Type	 	 	Shares	 	 	Value	 	 	Date	 	 	Reason	 	 	Shares	 
	 
	 	31,250	 	 	03/01/2009
	 	 	0	 	 	$	0.00	 	 	 	03/01/2015	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	31,250	 	 	03/01/2010
	 	 	0	 	 	$	0.00	 	 	 	03/01/2015	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	31,250	 	 	03/01/2011
	 	 	0	 	 	$	0.00	 	 	 	03/01/2015	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	31,250	 	 	03/01/2012
	 	 	0	 	 	$	0.00	 	 	 	03/01/2015	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	125,000	 	 	 
	 	 	0	 	 	$	0.00	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Award No: RS048237	 	Award Date: 04/20/2007	 	Shares: 100,000	 	Price: $0.000000	 	Plan: 2003	 	Type: RSU	 	Accept Date:
	 
	AWARD SCHEDULE	 	 	 	 	 	TRANSCTIONS	 	 	 	 	 	CANCELLATIONS
	 	 	 	 	 	 	 	 	 	 	Tax Payment	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Granted	 	Vest Date	 	Vested	 	Method	 	Date	 	Type	 	Shares	 	Value	 	Date	 	Reason	 	Shares
	 
	 	25,000	 	 	04/20/2008
	 	 	25,000	 	 	Trade	 	 	04/20/2008	 	 	Release	 	 	25,000	 	 	$	5,020000	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	25,000	 	 	04/20/2009
	 	 	0	 	 	Trade	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	25,000	 	 	04/20/2010
	 	 	0	 	 	Trade	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	25,000	 	 	04/20/2011
	 	 	0	 	 	Trade	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	100,000	 	 	 
	 	 	25,000	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	25,000	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

Annex B – Page 1 of 2

 

 

Annex B

	 	 	 	 	 
	 

	 	LSI CORPORATION
	 	Page: 2
	Options and Awards Summary

	 	ID: 94-2712976
	 	File: Optsum
	 

	 	1621 BARBER LANE
	 	Date: 01/14/2009
	 

	 	MILPITAS, CALIFORNIA 95035
	 	Time: 9:25:02AM

As of: 01/14/2009

$0.000000

CLAUDINE Y SIMSON

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Award No: RS052758	 	Award Date: 03/01/2008	 	Shares: 40,000	 	Price: $0.000000	 	Plan: 2003	 	Type: RSU	 	Accept Date:
	 
	AWARD SCHEDULE	 	 	 	 	 	TRANSACTIONS	 	 	 	 	 	CANCELLATIONS
	 	 	 	 	 	 	 	 	 	 	Tax Payment	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Granted	 	Vest Date	 	Vested	 	Method	 	Date	 	Type	 	Shares	 	Value	 	Date	 	Reason	 	Shares
	 
	 	13,333	 	 	03/01/2009
	 	 	0	 	 	Trade	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	13,333	 	 	03/01/2010
	 	 	0	 	 	Trade	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	13,334	 	 	03/01/2011
	 	 	0	 	 	Trade	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	40,000	 	 	 
	 	 	0	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 	 	 	 
	Total Awards Earned But Not Yet Released:
	 	 	0	 
	Total Price:
	 	$	0.00	 
	Total Potential Gain:
	 	$	0.00	 

	 	 	 	 	 
	Total Options Exercisable:
	 	 	75,000	 
	Total Price:
	 	$	763,500.00	 
	Total Potential Gain:
	 	$	0.00	 

Annex B — Page 1 of 2exv10w30

EXHIBIT 10.30

HARMONIC INC.

2002 DIRECTOR STOCK PLAN

RESTRICTED STOCK UNIT AGREEMENT

     Unless otherwise defined herein, the terms defined in the Harmonic Inc. 2002 Director Stock
Plan (the “Plan”) will have the same defined meanings in this Restricted Stock Unit Agreement (the
“Agreement”).

NOTICE OF RESTRICTED STOCK UNIT GRANT

     Grantee Name:

     Address:

     You have been granted the right to receive an award of Restricted Stock Units, subject to the
terms and conditions of the Plan and this Agreement, as follows:

	 	 	 	 	 	 	 	 	 
	 
	 	Grant Number	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	 
	 
	 	Date of Grant	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 
	 
	 
	 	Vesting Commencement Date		 	 	 	 
	 
	 
	 	Number of Restricted Stock Units		 	 	 	 
	 
	 
	 	Vesting Schedule:	 	 	 	 	 

     Subject to any acceleration provisions contained in the Plan or set forth below, the
Restricted Stock Units will vest in accordance with the following schedule:

     One-hundred percent (100%) of the Restricted Stock Units shall vest on the one (1) year
anniversary of the Vesting Commencement Date, subject to Grantee’s continuous status as a Director
through such date.

     In the event Grantee ceases to be a Director for any or no reason before Grantee vests in the
Restricted Stock Units, the Restricted Stock Units and Grantee’s right to acquire any Shares
hereunder will immediately terminate.

     By Grantee’s signature and the signature of the representative of Harmonic Inc. (the
“Company”) below, Grantee and the Company agree that this award of Restricted Stock Units is
granted under and governed by the terms and conditions of the Plan and this Agreement, including
the Terms and Conditions of Restricted Stock Unit Grant, attached hereto as Exhibit A, all
of which are made a part of this document. Grantee has reviewed the Plan and this Agreement in
their entirety, has had an opportunity to obtain the advice of counsel prior to executing this
Agreement and fully understands all provisions of the Plan and Agreement. Grantee hereby agrees to
accept as binding, conclusive and final all decisions or interpretations of the Board upon any
questions relating to the Plan and Agreement. Grantee further agrees to

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notify the Company upon
any change in the residence address indicated below.

	 	 	 	 	 	 	 
	GRANTEE:

	 	 	 	HARMONIC INC.:	 	 
	 
	 	 	 	 	 	 
	 

Signature

	 	 	 	 

By
	 	 
	 
	 	 	 	 	 	 
	 

Print Name

	 	 	 	 

Title
	 	 
	 
	 	 	 	 	 	 
	Residence Address:
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 	 	 	 	 

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EXHIBIT A

TERMS AND CONDITIONS OF RESTRICTED STOCK UNIT GRANT

     1. Grant. The Company hereby grants to the Grantee named in the Notice of Restricted
Stock Unit Grant attached to this Agreement (“Grantee”) under the Plan an award of Restricted Stock
Units, subject to all of the terms and conditions in this Agreement and the Plan, which is
incorporated herein by reference. Subject to Section 11(a) of the Plan, in the event of a conflict
between the terms and conditions of the Plan and the terms and conditions of this Agreement, the
terms and conditions of the Plan will prevail.

     2. Company’s Obligation to Pay. Each Restricted Stock Unit represents the right to
receive a Share on the date it vests (or at such later time indicated in this Agreement). Unless
and until the Restricted Stock Units will have vested in the manner set forth in Section 3 or
Section 4 of this Agreement or Section 10(c) of the Plan, Grantee will have no right to payment of
any such Restricted Stock Units. Prior to actual payment of any vested Restricted Stock Units,
such Restricted Stock Units will represent an unsecured obligation of the Company, payable (if at
all) only from the general assets of the Company. Any Restricted Stock Units that vest in
accordance with this Agreement will be paid to Grantee (or in the event of Grantee’s death, to his
or her properly designated beneficiary or estate) in whole Shares, subject to Grantee satisfying
any applicable tax withholding obligations as set forth in Section 7. Subject to the provisions of
Section 4, such vested Restricted Stock Units will be paid in Shares as soon as practicable after
vesting, but in each such case within the period ending no later than the date that is two and
one-half (21/2) months from the end of the Company’s tax year that includes the vesting date.

     3. Vesting Schedule. Except as provided in Section 4 of the Agreement and Section
10(c) of the Plan, and subject to Section 5, the Restricted Stock Units awarded by this Agreement
will vest in accordance with the vesting provisions set forth in the Notice of Restricted Stock
Unit Grant attached to this Agreement. Restricted Stock Units scheduled to vest on a certain date
or upon the occurrence of a certain condition will not vest in Grantee in accordance with any of
the provisions of this Agreement, unless Grantee will have been continuously a Director from the
Date of Grant until the date such vesting occurs.

     4. Board Discretion. The Board, in its discretion, may accelerate the vesting of the
balance, or some lesser portion of the balance, of the unvested Restricted Stock Units at any time,
subject to the terms of the Plan. If so accelerated, such Restricted Stock Units will be
considered as having vested as of the date specified by the Board. Subject to the provisions of
this Section 4 and Section 5, if the Board, in its discretion, accelerates the vesting of the
balance, or some lesser portion of the balance, of the Restricted Stock Units, the payment of such
accelerated Restricted Stock Units shall be made within the period ending no later than the date
that is two and one-half months (21/2) months from the end of the Company’s taxable year that
includes the vesting date.

     5. Forfeiture upon Termination of Continuous Status as a Director. Notwithstanding
any contrary provision of this Agreement, the balance of the Restricted Stock Units that have not
vested as of the time of Grantee’s termination as a Director for any or no reason and
Grantee’s

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right to acquire any Shares hereunder will immediately terminate.

     6. Death of Grantee. Any distribution or delivery to be made to Grantee under this
Agreement will, if Grantee is then deceased, be made to Grantee’s designated beneficiary, or if no
beneficiary survives Grantee, the administrator or executor of Grantee’s estate. Any such
transferee must furnish the Company with (a) written notice of his or her status as transferee, and
(b) evidence satisfactory to the Company to establish the validity of the transfer and compliance
with any laws or regulations pertaining to said transfer.

     7. Withholding of Taxes. Notwithstanding any contrary provision of this Agreement, no
certificate representing the Shares will be issued to Grantee, unless and until satisfactory
arrangements (as determined by the Board) will have been made by Grantee with respect to the
payment of income, employment and other taxes which the Company determines must be withheld with
respect to such Shares. The Board, in its sole discretion and pursuant to such procedures as it
may specify from time to time, may permit Grantee to satisfy such tax withholding obligation, in
whole or in part (without limitation) by (a) paying cash, (b) electing to have the Company withhold
otherwise deliverable Shares having a Fair Market Value equal to the minimum amount required to be
withheld, (c) delivering to the Company already vested and owned Shares having a Fair Market Value
equal to the amount required to be withheld, or (d) selling a sufficient number of such Shares
otherwise deliverable to Grantee through such means as the Company may determine in its sole
discretion (whether through a broker or otherwise) equal to the amount required to be withheld. To
the extent determined appropriate by the Company in its discretion, it will have the right (but not
the obligation) to satisfy any tax withholding obligations by reducing the number of Shares
otherwise deliverable to Grantee. If Grantee fails to make satisfactory arrangements for the
payment of any required tax withholding obligations hereunder at the time any applicable Restricted
Stock Units otherwise are scheduled to vest pursuant to Sections 3 or 4, Grantee will permanently
forfeit such Restricted Stock Units and any right to receive Shares thereunder and the Restricted
Stock Units will be returned to the Company at no cost to the Company.

     8. Rights as Stockholder. Neither Grantee nor any person claiming under or through
Grantee will have any of the rights or privileges of a stockholder of the Company in respect of any
Shares deliverable hereunder unless and until certificates representing such Shares will have been
issued, recorded on the records of the Company or its transfer agents or registrars, and delivered
to Grantee. After such issuance, recordation and delivery, Grantee will have all the rights of a
stockholder of the Company with respect to voting such Shares and receipt of dividends and
distributions on such Shares.

     9. No Guarantee of Continued Service. GRANTEE ACKNOWLEDGES AND AGREES THAT THE VESTING
OF THE RESTRICTED STOCK UNITS PURSUANT TO THE VESTING SCHEDULE HEREOF IS EARNED ONLY BY CONTINUING
AS A DIRECTOR AT THE WILL OF THE COMPANY AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS
AWARD OF RESTRICTED STOCK UNITS OR ACQUIRING SHARES HEREUNDER. GRANTEE FURTHER ACKNOWLEDGES AND
AGREES THAT THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREUNDER AND THE VESTING SCHEDULE SET
FORTH HEREIN DO NOT

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CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS A DIRECTOR
FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND WILL NOT INTERFERE IN ANY WAY WITH GRANTEE’S
RIGHT OR THE RIGHT OF THE COMPANY TO TERMINATE GRANTEE’S RELATIONSHIP AS A DIRECTOR AT ANY TIME,
WITH OR WITHOUT CAUSE.

     10. Address for Notices. Any notice to be given to the Company under the terms of
this Agreement will be addressed to the Company, in care of its Vice President, Human Resources at
Harmonic Inc., 549 Baltic Way, Sunnyvale, California, 94089, or at such other address as the
Company may hereafter designate in writing.

     11. Grant is Not Transferable. Except to the limited extent provided in Section 6,
this grant and the rights and privileges conferred hereby will not be transferred, assigned,
pledged or hypothecated in any way (whether by operation of law or otherwise) and will not be
subject to sale under execution, attachment or similar process. Upon any attempt to transfer,
assign, pledge, hypothecate or otherwise dispose of this grant, or any right or privilege conferred
hereby, or upon any attempted sale under any execution, attachment or similar process, this grant
and the rights and privileges conferred hereby immediately will become null and void.

     12. Binding Agreement. Subject to the limitation on the transferability of this grant
contained herein, this Agreement will be binding upon and inure to the benefit of the heirs,
legatees, legal representatives, successors and assigns of the parties hereto.

     13. Additional Conditions to Issuance of Stock. If at any time the Company will
determine, in its discretion, that the listing, registration or qualification of the Shares upon
any securities exchange or under any state or federal law, or the consent or approval of any
governmental regulatory authority is necessary or desirable as a condition to the issuance of
Shares to Grantee (or his or her estate), such issuance will not occur unless and until such
listing, registration, qualification, consent or approval will have been effected or obtained free
of any conditions not acceptable to the Company. Where the Company determines that the delivery of
the payment of any Shares will violate federal securities laws or other applicable laws, the
Company will defer delivery until the earliest date at which the Company reasonably anticipates
that the delivery of Shares will no longer cause such violation. The Company will make all
reasonable efforts to meet the requirements of any such state or federal law or securities exchange
and to obtain any such consent or approval of any such governmental authority.

     14. Plan Governs. This Agreement is subject to all terms and provisions of the Plan.
In the event of a conflict between one or more provisions of this Agreement and one or more
provisions of the Plan, the provisions of the Plan will govern. Capitalized terms used and not
defined in this Agreement will have the meaning set forth in the Plan.

     15. Board Authority. The Board will have the power to interpret the Plan and this
Agreement and to adopt such rules for the administration, interpretation and application of the
Plan as are consistent therewith and to interpret or revoke any such rules (including, but not
limited to, the determination of whether or not any Restricted Stock Units have vested). All
actions taken and all interpretations and determinations made by the Board in good faith will be
final and binding upon Grantee, the Company and all other interested persons. No member of

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the
Board will be personally
liable for any action, determination or interpretation made in good faith with respect to the
Plan or this Agreement.

     16. Electronic Delivery. The Company may, in its sole discretion, decide to deliver
any documents related to Restricted Stock Units awarded under the Plan or future Restricted Stock
Units that may be awarded under the Plan by electronic means or request Grantee’s consent to
participate in the Plan by electronic means. Grantee hereby consents to receive such documents by
electronic delivery and agrees to participate in the Plan through any on-line or electronic system
established and maintained by the Company or another third party designated by the Company.

     17. Captions. Captions provided herein are for convenience only and are not to serve
as a basis for interpretation or construction of this Agreement.

     18. Agreement Severable. In the event that any provision in this Agreement will be
held invalid or unenforceable, such provision will be severable from, and such invalidity or
unenforceability will not be construed to have any effect on, the remaining provisions of this
Agreement.

     19. Modifications to the Agreement. This Agreement constitutes the entire
understanding of the parties on the subjects covered. Grantee expressly warrants that he or she is
not accepting this Agreement in reliance on any promises, representations, or inducements other
than those contained herein. Modifications to this Agreement or the Plan can be made only in an
express written contract executed by a duly authorized officer of the Company. Notwithstanding
anything to the contrary in the Plan or this Agreement, the Company reserves the right to revise
this Agreement as it deems necessary or advisable, in its sole discretion and without the consent
of Grantee, to comply with Section 409A or to otherwise avoid imposition of any additional tax or
income recognition under Section 409A in connection to this award of Restricted Stock Units.

     20. Amendment, Suspension or Termination of the Plan. By accepting this award of
Restricted Stock Units, Grantee expressly warrants that he or she has received an award of
Restricted Stock Units under the Plan, and has received, read and understood a description of the
Plan. Grantee understands that the Plan is discretionary in nature and may be amended, suspended
or terminated by the Company at any time.

     21. Governing Law. This Agreement will be governed by the laws of the State of
California, without giving effect to the conflict of law principles thereof. For purposes of
litigating any dispute that arises under this award of Restricted Stock Units or this Agreement,
the parties hereby submit to and consent to the jurisdiction of the State of California, and agree
that such litigation will be conducted in the courts of Santa Clara County, California, or the
federal courts for the United States for the Northern District of California, and no other courts,
where this award of Restricted Stock Units is made and/or to be performed.

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