Document:

Exhibit 4.6

  

   

    

  
    
      Description of the Registrant’s Securities

        Registered Pursuant to Section 12 of the

        Securities Exchange Act of 1934

    

    

    

    
      The following description summarizes of certain provisions of the common stock of Vishay Intertechnology, Inc. This
        description does not purport to be complete and is qualified in its entirety by reference to our Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws, as amended, each of which is incorporated by reference as an exhibit
        to the Annual Report on Form 10-K of which this exhibit is a part. We encourage you to read our Amended and Restated Certificate of Incorporation, our Amended and Restated Bylaws, as amended and the applicable provisions of Delaware law for
        additional information. Unless the context requires otherwise, all references to “we,” “us,” “our” and “Vishay” in this section refer solely to Vishay Intertechnology, Inc. and not to its subsidiaries.

       

      

    

    The aggregate number of shares of capital stock which Vishay has authority to issue is 341,000,000 shares: 1,000,000 shares of preferred stock, par value
      $1.00 per share, 300,000,000 shares of common stock, par value $0.10 per share, and 40,000,000 shares of Class B common stock, par value $0.10 per share. 

    

    

    Common stock

     

    

    After any required payment on shares of preferred stock, holders of common stock and Class B common stock are entitled to receive, and share ratably on a
      per share basis in, all dividends and other distributions declared by the board of directors of Vishay. In the event of a stock dividend or stock split, holders of common stock will receive shares of common stock and holders of Class B common stock
      will receive shares of Class B common stock. Neither the common stock nor the Class B common stock may be split, divided or combined unless the other is split, divided or combined equally.

    

    

    The holders of common stock are entitled to one vote for each share held. Holders of Class B common stock are entitled to 10 votes for each share held. The
      common stock and the Class B common stock vote together as one class on all matters subject to stockholder approval, except as set forth in the following sentence. The approval of the holders of common stock and of Class B common stock, each voting
      separately as a class, is required to authorize issuances of additional shares of Class B common stock other than in connection with stock splits and stock dividends.

    

    

    Shares of Class B common stock are convertible into shares of our common stock on a one-for-one basis at any time at the option of the holder thereof. The
      Class B common stock is not transferable except to the holder’s spouse, certain of such holder’s relatives, certain trusts established for the benefit of the holder, the holder’s spouse or relatives, corporations and partnerships beneficially owned
      and controlled by such holder, such holder’s spouse or relatives, charitable organizations and such holder’s estate. Upon any transfer made in violation of those restrictions, shares of Class B common stock will be automatically converted into shares
      of our common stock on a one-for-one basis.

    

    

    Neither the holders of common stock nor the holders of Class B common stock have any preemptive rights to subscribe for additional shares of capital stock
      of Vishay.

    

    

    Our common stock is listed on The New York Stock Exchange. There is no public market for shares of our Class B common stock.

    

    

    Preferred stock

    

    

    Our board of directors is authorized, without further stockholder approval, to issue from time to time up to an aggregate of 1,000,000 shares of preferred
      stock in one or more series. The board of directors may fix or alter the designation, preferences, rights and any qualification, limitations, or restrictions of the shares of any series, including the dividend rights, dividend rates, conversion
      rights, voting rights, redemption terms and prices, liquidation preferences and the number of shares constituting any series. No shares of our preferred stock are currently outstanding.

     

    

    Other matters

    

    

    We have a staggered board of directors, divided into three classes, with one class of directors being elected each year. As a consequence, directors may
      not be removed other than for cause.

    

    

    We are subject to Section 203 of the Delaware General Corporation Law which prohibits us from engaging in a “business combination” with an “interested
      stockholder” for a period of three years after the date of the transaction in which the person became an interested stockholder, unless the business combination is approved in a prescribed manner. Generally, an “interested stockholder” is a person
      who, together with affiliates and associates, owns or within three years did own, 15% or more of our voting stock.

    

    

    We furnish to our stockholders annual reports containing consolidated financial statements prepared in accordance with U.S. generally accepted accounting
      principles and audited and reported on, with an opinion expressed, by an independent registered public accounting firm.

    

    

    American Stock Transfer & Trust Company is the transfer agent and registrar of our common stock and Class B common stock.Exhibit 10.47

  

   

    

  
    Vishay Intertechnology, Inc.

    Executive Officer Restricted Stock Unit Agreement

    THIS AGREEMENT, made as of the Grant Date, between Vishay Intertechnology, Inc. (the “Company”) and the Participant.

    RECITALS

    The Company has adopted and maintains the Vishay Intertechnology, Inc. 2007 Stock Incentive Program, as amended and
      restated, (the “Program”) to enhance the long-term performance of the Company and to provide selected individuals with an incentive to improve the growth and profitability of the Company by acquiring a proprietary interest in the success of the
      Company.

    The Program provides that the Compensation Committee (the “Committee”) of the Company’s Board of Directors shall
      administer the Program, including the authority to determine the persons to whom awards will be granted and the amount and type of such awards.

    The Committee has determined that the purposes of the Program would be furthered by granting the Participant
      Restricted Stock Units as set forth in this Agreement.

    The parties therefore agree as follows:

    1. Grant Schedule.  Certain terms of the grant of Restricted Stock Units are set forth on
        the Grant Schedule that is attached to, and is a part of, this Agreement.

    2. Grant of Restricted Stock Units.  Pursuant to, and subject to, the terms and
        conditions set forth herein and in the Program, the Committee hereby grants to the Participant the number of Restricted Stock Units set forth on the Grant Schedule.

    3. Grant Date.  The Grant Date of the Restricted Stock Units is set forth on the Grant
        Schedule.

    4. Incorporation of Program.  All terms, conditions and restrictions of the Program are
        incorporated herein and made part hereof as if stated herein.  If there is any conflict between the terms and conditions of the Program and this Agreement or any applicable employment agreement, the terms and conditions of the employment agreement
        will govern over those of the Program or this Agreement, and the terms and conditions of this Agreement will govern over those of the Program.  Except as otherwise provided herein, including the Grant Schedule, all capitalized terms used herein
        will have the meaning given to such terms in the Program.

    5. Performance Target.  The Grant Schedule sets forth a performance target applicable to
        a portion of the Restricted Stock Units (the “Performance Target”).

    6. Vesting.

    (a) Subject to the further provisions of this Agreement, the Restricted Stock Units will vest on the Vesting Date set forth on the Grant Schedule (the
        “Vesting Date”), provided the Participant remains in continuous service with the Company through that time and, in the case of the Restricted Stock Units described in Section 2(b) of the Grant Schedule, the Performance Target is achieved.

    (b) If a Change in Control occurs prior to the Vesting Date and the Participant remains in continuous service with the Company until the time immediately
        prior to that Change in Control, 100% of the Restricted Stock Units will then vest (without regard to whether the Performance Target is achieved).  For avoidance of doubt, vesting in connection with a Change in Control will not alter the time that
        shares are issued in settlement of the Restricted Stock Units (which time is stated in Section 10 below).

    7. Transferability.  The Restricted Stock Units are not transferable or assignable
        otherwise than by will or by the laws of descent and distribution.  Any attempt to transfer Restricted Stock Units, whether by transfer, pledge, hypothecation or otherwise and whether voluntary or involuntary, by operation of law or otherwise, will
        not vest the transferee with any interest or right in or with respect to such Restricted Stock Units.

    8. Termination of Employment.  Upon the Participant’s
        Termination of Employment, all unvested Restricted Stock Units will vest, remain outstanding subject to the Performance Target or be forfeited according to the terms and conditions of the Participant’s employment agreement.

    9. Designation of Beneficiary.  The Participant has the right to designate in writing
        from time to time a beneficiary or beneficiaries for any Award by filing a written notice of such designation with the Committee.  If the Participant’s beneficiary predeceases the Participant and no successor beneficiary is designated, or if no
        valid designation has been made, the Participant's beneficiary will be the Participant’s estate.  In such an event, no payment will be made unless the Committee will have been furnished with such evidence as the Committee may deem necessary to
        establish the validity of the payment.

    
      
        

    

    10. Issuance of Shares.

    (a) With respect to the Restricted Stock Units described in Section 2(a) of the Grant Schedule, on the earlier of the Vesting Date or the Participant’s
        separation from service (within the meaning of Treas. Reg. § 1.409A-1(h) or any successor regulation), the Company shall issue to the Participant, whether by means of stock certificates or book entry registration, a number of shares of common stock
        of the Company (“Common Stock”) equal to the number of such Restricted Stock Units that have vested as of such date (taking into account any acceleration of vesting contemplated by the Participant’s employment agreement or Section 6 hereof).  Any
        such Restricted Stock Units that have not vested as of the earlier of the Vesting Date or the Participant’s separation from service will be forfeited as of that time.

    (b) With respect to the Restricted Stock Units described in Section 2(b) of the Grant Schedule, within 60 days following the Vesting Date the Company
        shall issue to the Participant, whether by means of stock certificates or book entry registration, a number of shares of common stock of the Company (“Common Stock”) equal to the number of such Restricted Stock Units that have vested as of the
        Vesting Date (taking into account any acceleration of vesting contemplated by Section 6 hereof).  Any such Restricted Stock Units that have not vested as of the Vesting Date will be forfeited as of that time.

    (c) This Award is subject to tax withholding in accordance with applicable law and Section 18 of the Program (and for this purpose, share withholding is
        authorized in the manner therein described).

    (d) The Participant will not be deemed for any purpose to be, or have rights as, a stockholder of the Company by virtue of the grant of Restricted Stock
        Units, until shares of Common Stock are issued in settlement of such Restricted Stock Units pursuant to Section 10(a) hereof.  Upon the issuance of a stock certificate or the making of an appropriate book entry on the books of the transfer agent,
        the Participant will have all of the rights of a stockholder.

    (e) Notwithstanding any otherwise applicable provision of this Agreement, to the extent compliance with the requirements of Treasury Regulation §
        1.409A-3(i)(2) (or any successor provision) is necessary to avoid the application of an additional tax under section 409A of the Code to the issuance of shares to the Participant, then any issuance of shares to the Participant that would otherwise
        be made upon the Participant’s separation from service will be deferred and delivered to the Participant immediately after the six-month period following that separation from service.

    11. Company Policies.  In consideration for the grant of this award of Restricted Stock
        Units, the Participant agrees to be subject to any policies of the Company and its affiliates regarding clawbacks, securities trading and hedging or pledging of securities that may be in effect from time to time, to the extent such policies are or
        become applicable to the Participant.

    12. Securities Matters.  The Company shall be under no obligation to effect the
        registration pursuant to the Securities Act of 1933, as amended (the “1933 Act”) of any interests in the Program or any shares of Common Stock to be issued thereunder or to effect similar compliance under any state laws.  The Company shall not be
        obligated to cause to be issued any shares, whether by means of stock certificates or appropriate book entries, unless and until the Company is advised by its counsel that the issuance of such shares is in compliance with all applicable laws,
        regulations of governmental authority and the requirements of any securities exchange on which shares of Common Stock are traded.  The Committee may require, as a condition of the issuance of shares of Common Stock pursuant to the terms hereof,
        that the recipient of such shares make such covenants, agreements and representations, and that any certificates bear such legends and any book entries be subject to such electronic coding or stop order, as the Committee, in its sole discretion,
        deems necessary or desirable.  The Participant specifically understands and agrees that the shares of Common Stock, if and when issued, may be “restricted securities,” as that term is defined in Rule 144 under the 1933 Act and, accordingly, the
        Participant may be required to hold the shares indefinitely unless they are registered under such Act or an exemption from such registration is available.

    13. Delays or Omissions.  No delay or omission to exercise any right, power or remedy
        accruing to any party hereto upon any breach or default of any party under this Agreement, will impair any such right, power or remedy of such party, nor will it be construed to be a waiver of any such breach or default, or an acquiescence therein,
        or of or in any similar breach or default thereafter occurring, nor will any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring.  Any waiver, permit, consent or approval of
        any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any party or any provisions or conditions of this Agreement, must be in a writing signed by such party and will be effective
        only to the extent specifically set forth in such writing.

    14. Right of Discharge Preserved.  Nothing in this Agreement confers upon the Participant
        the right to continue in the employ or other service of the Company, or affect any right which the Company may have to terminate such employment or service.

    15. Integration.  The Program, this Agreement, including the Grant Schedule, and any
        applicable employment agreement contain the entire understanding of the parties with respect to its subject matter.  There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings with respect to the subject
        matter hereof other than those expressly set forth herein.  Any applicable employment agreement and this Agreement, including, without limitation, the Program, supersede all prior agreements and understandings between the parties with respect to
        its subject matter.

    16. Counterparts.  This Agreement may be executed in two or more counterparts, each of
        which is deemed an original, but all of which constitute one and the same instrument.

    17. Governing Law.  This Agreement is governed by and construed and enforced in accordance
        with the laws of the State of Delaware, without regard to the provisions governing conflict of laws.

    18. Participant Acknowledgment.  The Participant hereby acknowledges receipt of a copy of
        the Program and has carefully read and understands this Agreement and the Program.  The Participant hereby acknowledges that all decisions, determinations and interpretations of the Committee in respect of the Program, this Agreement and the
        Restricted Stock Units are final and conclusive.

    
      
        

    

    The parties are signing this Agreement on the date indicated below.

    

    

    

    

    VISHAY INTERTECHNOLOGY, INC.

     

    

    
      	
               By:

            	
               

            
	
               Name:

            	
               

            
	
               Title:

            	
               

            

    

    

    

    

    

     

    

    

      

      

      

    

    
      	 
	
               

            
	
               

            

      

        

        

        

      

      

    

       DATED: ____________________

    
      
        

    

    Grant Schedule

     

        

    

    

    	
            Participant’s name:

          	 
	
            Grant Date:

          	 
	
            1. Number of Restricted Stock Units  granted:

          	 
	
            2. Vesting Date:

            (a)  As to [______] Restricted Stock Units:  [_______________]

             

            

            (b) As to [______] Restricted Stock Units:  [_______________], provided that 50% of such Restricted Stock Units shall vest if 80% of the
              Performance Target has been satisfied, and an additional 2.5% of such Restricted Stock Units shall vest for each additional full 1% (between 80% and 100%) of the Performance Target that has been satisfied.

             

            

            Performance Target:  Sum of cumulative adjusted net profit and cumulative adjusted free cash (each as measured by the Committee) for the 2020-2022
              period equal to $750 million.

             

            

            3. HSR Compliance:

             

              

            Notwithstanding any contrary provision of this Agreement: No shares will be delivered in respect of Restricted Stock Units subject to this Agreement
              unless and until the Participant has complied with all applicable provisions of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”) with respect to the delivery of those shares.  If the delivery of shares
              pursuant to this Agreement is delayed pursuant to the preceding sentence, the delivery shall occur on the first day that the Participant has complied with all applicable provisions of the HSR Act; provided that if the Participant has not
              complied with all applicable provisions of the HSR Act by the last day of the calendar year in which such shares are otherwise deliverable, such shares and all rights of the Participant under this Agreement will then be forfeited.

             

          

    

    

    

    

    __________________ __________________________

    [_______________] Vishay Intertechnology, Inc. 

    

    

    Dated:  ____________________

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