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  Exhibit 10(yyy)    
    

 
 

  INTERNATIONAL RECTIFIER CORPORATION
  2000 INCENTIVE PLAN
  (Amended and Restated as of November 22, 2004)
  NONQUALIFIED STOCK OPTION AGREEMENT    
    

        THIS OPTION AGREEMENT is between INTERNATIONAL RECTIFIER
CORPORATION, a Delaware corporation (the "Company"),
and                                    (the "Optionee"). Pursuant to
the International Rectifier Corporation 2000 Incentive Plan (Amended and
Restated as of November 22, 2004) (the "Plan"), the Company grants a nonqualified stock option to purchase authorized but unissued or treasury shares of Common Stock, $1.00 par value, of the
Company on the Terms and Conditions attached and in the Plan: 

							
	 
	 	 
	 	 
	 	 

	 	 	Grant Date:	 	  

 	 	 
	    	 	 	 	 	 	 
	 	 	Number of Shares:	 	  

 	 	(1)
	    	 	 	 	 	 	 
	 	 	Exercise Price per Share:	 	  

 	 	(1)
	    	 	 	 	 	 	 
	 	 	Vesting Schedule:	 	331/3% per year on each of the first three anniversary dates of Grant Date(2)	 	 
	    	 	 	 	 	 	 
	 	 	Expiration Date:	 	  

 	 	(2)
	    	 	 	 	 	 	 
	 

	(1)
	Subject
to adjustment under Section 5.2 of the Plan.

	(2)
	Subject
to early termination under Section 2.5 or 5.2 of the Plan and Section 4 of the Terms and Conditions. 

					
	INTERNATIONAL RECTIFIER CORPORATION
 (a Delaware Corporation)	 	 OPTIONEE
	
 By:	
 	

  

  

	
 	

 

 

(Signature)
	

Its:	
 	

 	
 	

  

  

(Address)
	 	 	 	 	  

  

(City, State, Zip Code)

 
 
 

TERMS AND CONDITIONS    
    

        1.    Exercisability of Option.    The Option shall vest and become exercisable in installments of
331/3% of the aggregate number of shares set forth on the facing page (subject to adjustment). Subject to earlier termination of the Option as provided in this Agreement or the Plan and
changes and adjustments contemplated by the Plan, the first installment shall vest on the 1st anniversary of the Grant Date, and thereafter, installments of 331/3%
of the shares shall vest on each of the 2nd, and 3rd anniversaries of the Grant Date. The Option may be exercised only to the extent the Option is exercisable. 

					
	 
	 	 
	 	 

	•	 	 Cumulative Exercisability.	 	To the extent the Optionee does not in any year purchase all the shares that the Optionee may then exercise, the Optionee has the right cumulatively thereafter to purchase any shares not so purchased until the Option
terminates or expires.
	

•	

 	

  No Fractional Shares.	

 	

Fractional share interests shall be disregarded, but may be cumulated.
	

•	
 	
 Minimum Exercise.	
 	

No fewer than 100 shares may be purchased at any one time, unless the number purchased is the total number at the time exercisable under the Option.

        2.    Method of Exercise of Option.    To the extent exercisable, the Option may be exercised by the delivery to the
Company of a written notice stating the number of shares to be purchased pursuant to the Option and payment made in cash or by check payable to the order of the Company in the full amount of the
purchase price of the shares and amounts required to satisfy applicable withholding taxes. Other payment methods may be permitted only if expressly authorized by the Administrator with respect to this
Option or all options under the Plan. 

        3.    Continuance of Employment Required.    The vesting schedule requires continued service through each applicable
vesting date as a condition to the vesting of the applicable installment and rights and benefits under this Agreement. Partial service, even if substantial, during any vesting period will not entitle
the Optionee to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service as provided in Section 4 below or
under the Plan. 

        4.    Effect of Termination of Employment or Death; Change in Subsidiary Status.    If the Optionee's employment with
the Company or any Subsidiary terminates, the Option and all other rights and benefits under this Agreement terminate, except that the Optionee may at any time within the following periods after
termination exercise the Option to the extent the Option was exercisable at the date of termination of employment and has not otherwise expired. If the termination was the result
of:

	•
	Total Disability—one year 

 
	•
	Retirement—one year 

 
	•
	termination by the Company or a subsidiary other than pursuant to a Dismissal for Cause—30 days

 
	•
	voluntary resignation (other than in response to a Dismissal for Cause or in anticipation of a Dismissal for Cause, or in
connection with Retirement)—30 days 

 
	•
	death of Optionee—one year 

2

 

	•
	Dismissal for Cause*—Option shall terminate immediately (whether vested or not). 

	*
	In
addition to the definition set forth in Section 6.1(o) of the Plan, for purposes of this Agreement, "Dismissal for Cause" shall include the
termination of Optionee's employment or services by the Company or a Subsidiary as a result of Optionee's material violation of a policy or rule of the Company. 

In
each case, the Option remains subject to earlier termination on the first to occur of the Expiration Date of the Option or the termination of the Option pursuant to Section 5.2 of the Plan. 

        5.    Change in Subsidiary's Status; Leaves of Absence.    If the Optionee is employed by an entity that ceases to be
a Subsidiary and does not remain employed by the Company or another Subsidiary, this event is deemed for purposes of this Agreement to be a termination of the Optionee's employment by the Company
other than pursuant to a Dismissal for Cause. Absence from work caused by military service, authorized sick leave or other leave approved in writing by the Committee shall not be considered a
termination of employment by the Company for purposes of Section 4, subject to such conditions as may be imposed in connection with the approval of the leave of absence. 

        6.    Notices.    Any notice to be given under the terms of this Agreement shall be in writing and addressed to the
Company at its principal office, to the attention of the Corporate Secretary and to the Optionee at the address given beneath the Optionee's signature, or at such other address as either party may
hereafter designate in writing to the other. 

        7.    Optionee not a Stockholder.    Neither the Optionee nor any other person entitled to exercise the Option shall
have any of the rights or privileges of a stockholder of the Company as to any shares of Common Stock not actually issued and delivered to Optionee prior to delivery of the exercise price and
satisfaction of all other conditions precedent to the due exercise of the Option and delivery of shares. 

        8.    No Employment Commitment by Company.    Nothing contained in this Agreement or the Plan constitutes an
employment commitment by the Company, affects Optionee's status as an employee at will who is subject to termination without cause, confers upon Optionee any right to remain employed by the Company or
any subsidiary, interferes in any way with the right of the Company or any subsidiary at any time to terminate such employment, or affects the right of the Company or any subsidiary to increase or
decrease Optionee's other compensation. 

        9.    Effect of Award Agreement.    This Agreement shall be binding upon and inure to the benefit of any successor or
successors of the Company except to the extent the Committee determines otherwise. 

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

        11.    Defined Terms.    Capitalized terms used herein and not otherwise defined herein shall have the meaning
assigned to such terms in the Plan. 

        12.    Plan.    The Option and all rights of Optionee thereunder are subject to, and the Optionee agrees to be bound
by, all of the terms and conditions of the provisions of the Plan, including, but not limited to Section 5.2 (Adjustments; Acceleration) and Section 5.10 (Governing
Law/Construction/Severability). The Optionee acknowledges receipt of a copy of the Plan, which is made a part hereof by this reference, and agrees to be bound by the terms thereof. Unless otherwise
expressly provided in other Sections of
this Agreement, provisions of the Plan that confer discretionary authority on the Committee do not (and shall not be deemed to) create any additional rights in the Optionee not expressly set forth
above. 

3

QuickLinks

Exhibit 10(yyy)

INTERNATIONAL RECTIFIER CORPORATION 2000 INCENTIVE PLAN (Amended and Restated as of November 22, 2004) NONQUALIFIED STOCK OPTION AGREEMENT

TERMS AND CONDITIONSQuickLinks
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  Exhibit 10(zzz)    
    

 
 

  INTERNATIONAL RECTIFIER CORPORATION
  2000 INCENTIVE PLAN
  RESTRICTED STOCK UNIT AWARD AGREEMENT    
    

			
	 
	 	 

	Participant Name:	 	 
	    	 	 
	Number of Stock Units:	 	 (1)
	    	 	 
	Vesting Schedule:	 	 One-third of the Stock Units subject to the Award will vest on each of the first three anniversary dates of Award Date(1)
	    	 	 
	Award Date:	 	 

	(1)
	All
share and unit numbers are subject to adjustment under the terms of the Plan. The Stock Units are subject to acceleration and termination prior to
vesting as provided herein. 

        THIS AGREEMENT is among INTERNATIONAL RECTIFIER CORPORATION, a Delaware corporation (the
"Corporation"), and the employee named above (the "Participant"), an employee of the Corporation or one of its subsidiaries, and is delivered under the International Rectifier Corporation 2000
Incentive Plan (Amended and Restated as of November 22, 2004) (the "Plan"). 

 
 

  W I T N E S S E T H    
    

        WHEREAS, the Compensation and Stock Option Committee of the Board of Directors has
approved, and the Corporation has granted, effective as of the Award Date, to the Participant with reference to services rendered to the Company, a restricted stock unit award under the Plan (the
"Stock Unit Award" or "Award"), upon the terms and conditions set forth herein and in the Plan. 

        NOW THEREFORE, in consideration of services rendered by the Participant and the mutual promises made herein and the mutual benefits to be
derived therefrom, the parties agree as follows: 

        1.    Defined Terms.    Capitalized terms used herein and not
otherwise defined herein shall have the meaning assigned to such terms in the Plan. For purposes of this Agreement, a "Stock Unit" means a
non-voting unit of measurement which is deemed for bookkeeping purposes to be equivalent to one outstanding share of Common Stock of the Corporation. 

        2.    Grant.    Subject to the terms of this Agreement and the Plan,
the Corporation grants to the Participant a Stock Unit Award with respect to an aggregate number of Stock Units set forth above. The Corporation acknowledges that the consideration for the shares
payable with respect to the Stock Units on the terms set forth in this Agreement shall be the services rendered to the Company by the Participant prior to the applicable vesting date, the fair value
of which is not less than the par value per share of the Corporation's Common Stock. 

        3.    Vesting.    The Stock Units subject to the Award shall vest in
installments as set forth in the "Vesting Schedule" set forth above, subject to earlier termination or acceleration and subject to adjustment as provided herein. 

        4.    Continuance of Employment Required.    Except as otherwise
provided herein, the vesting schedule applicable to the Stock Units requires continued service through each applicable vesting date as a condition to the vesting of the applicable installment of the
award and the rights and benefits under this Agreement. Service for only a portion of the vesting period, even if a substantial portion, 

1

 

will
not entitle the Participant to any proportionate vesting or avoid or mitigate a termination of rights and benefits upon or following a termination of employment or service. 

        5.    Dividend and Voting Rights.    

        (a)    Limitations on Rights Associated with Units.    The Participant
shall have no rights as a stockholder of the Corporation, no dividend rights (except as expressly provided in Section 5(b) hereof with respect to Dividend Equivalents) and no voting rights with
respect to the Stock Units or any shares of Common Stock issuable in respect of such Stock Units, until shares of Common Stock are actually issued to and held of record by the Participant. No
adjustments will be made for dividends or other rights of a holder for which the record date is prior to the date of issuance of the stock certificate evidencing the shares. 

        (b)    Dividend Equivalent Distributions.    No later than sixty
(60) days following each date that the Corporation pays an ordinary cash dividend on its outstanding Common Stock (if any ordinary cash dividends are paid), for which the related record date
occurs after the Award Date and prior to the third anniversary of the Award Date, the Corporation shall make a cash payment to the Participant equal to, subject to the tax withholding provisions of
Section 11 hereof and Section 5.5 of the Plan, the amount of the ordinary cash dividend paid by the Corporation on a single share of Common Stock
multiplied by the number of Stock Units subject to this Agreement outstanding and unpaid as of such record date ("Dividend Equivalents"). 

        6.    Restrictions on Transfer.    Prior to the time the Stock Units
are vested and paid, neither the Stock Units comprising the Award nor any other rights of the Participant under this Agreement or the Plan may be transferred, except as expressly provided in
Section 1.9 of the Plan. No specific exception to the general transfer prohibitions set forth in Section 1.9 of the Plan has been authorized by the Committee. 

        7.    Timing and Manner of Payment with Respect to Stock
Units.    Stock Units subject to this Agreement will be paid in an equivalent number of shares of Common Stock promptly after the vesting of such Stock Units in
accordance with the terms hereof, subject to adjustment as contemplated by Section 9 and subject to earlier payment pursuant to Section 10. The Participant or other person entitled under
the Plan to receive the shares shall deliver to the Corporation any representations or other documents or assurances required pursuant to Section 5.4 of the Plan. 

        8.    Effect of Termination of Employment or Change in Control.    

        (a)    Forfeiture after Certain Events.    The Participant's Stock
Units shall be extinguished to the extent such Stock Units have not become vested upon the date the Participant is no longer employed by the Corporation or one of its Subsidiaries, regardless of the
reason for such termination of employment, whether with or without cause, voluntarily or involuntarily; provided, however, that if the Participant incurs a permanent and total disability or dies while
employed by the Corporation or a Subsidiary, or retires with the consent of the Corporation or a Subsidiary from employment by the Corporation or a Subsidiary, then if the Stock Units subject to the
Award are not then otherwise fully vested the next scheduled vesting installment of such Stock Units shall become vested upon such termination of employment. If the Participant is employed by an
entity that is a Subsidiary and such entity ceases to be a Subsidiary, such even shall be deemed to be a termination of employment of the Participant unless the Participant otherwise continues
following such event to be employed by the Corporation or another Subsidiary that continues as such following the event. Absence from work caused by military service, authorized sick leave or other
leave approved in writing by the Committee shall not be considered a termination of employment by the Corporation or a Subsidiary for purposes of this Section 8. 

        (b)    Termination of Stock Units.    If any Stock Units are
extinguished hereunder, such unvested, extinguished Stock Units, without payment of any consideration by the Corporation or 

2

 

any
Subsidiary, shall automatically terminate and be cancelled without any other action by the Participant, or the Participant's beneficiary, as the case may be. 

        (c)    Acceleration Upon Change in Control.    Upon the occurrence of
(or, as the circumstances may require, immediately prior to) a Change in Control (as defined below), then any portion of the Stock Units subject to the Award that have not previously vested or
terminated shall thereupon vest, unless prior to the Change in Control the Committee determines that benefits under this or other awards will not accelerate upon occurrence of the Change in Control or
determines that only certain or limited benefits under some or all awards will be accelerated and the extent to which they will be accelerated, and/or establishes a different time in respect of the
Change in Control for such acceleration. The Committee may accord the Participant a right to refuse any acceleration pursuant to this Agreement, in such circumstances as the Committee may approve. For
purposes of this Agreement, "Change in Control" means any of the following: (a) approval by the stockholders of the Corporation of the dissolution or liquidation of the Corporation;
(b) approval by the stockholders of the Corporation of an agreement to merge or consolidate, or otherwise reorganize, with or into one or more entities that are not majority-owned subsidiaries
of the Corporation, as a result of which 50% or less of the outstanding voting securities of the surviving or resulting entity are, or are to be, owned by former stockholders of the Corporation;
(c) approval by the stockholders of the Corporation of the sale or transfer of substantially all of the Corporation's business and/or assets to a person or entity that is not a Subsidiary of
the Corporation; or (d) the occurrence of any of the following: (i) any "person," alone or together with all "affiliates" and "associates" of such person, without the prior approval of
the Board, becomes the "beneficial owner" of more than 50% of the outstanding voting securities of the Corporation (the terms "person," "affiliates," "associates" and "beneficial owner" are used as
such terms are used in the Securities Exchange Act of 1934 and the General Rules and Regulations thereunder); provided, however, that "Change in Control" shall not be deemed to have occurred if such
"person" is the Corporation, any Subsidiary or any employee benefit plan or employee stock plan of the Corporation or of any Subsidiary, or any trust or other entity organized, established or holding
shares of such voting securities by, for, or pursuant to the terms of any such plan, or any member of or entity or group affiliated with the Lidow family; or (ii) individuals who at the
beginning of any period of two consecutive calendar years constitute a majority of the Board cease for any reason, during such period, to constitute at least a majority thereof, unless the election,
or the nomination for election by the Corporation's stockholders, of each new Board member was approved by a vote of at least two-thirds of the Board members then still in office who were
Board members at the beginning of such period. 

        9.    Adjustments in Case of Changes in Common Stock.    The Committee
may adjust the number of Stock Units subject to this Agreement as provided under Section 5.2 of the Plan. Upon the occurrence of an Event (as defined below), the Committee shall make
adjustments as it deems appropriate in the number and kind of securities or other consideration that may become payable with respect to the Award. If any adjustment shall be made under
Section 5.2 of the Plan or an Event shall occur and the Stock Unit Award has not been fully vested and paid upon such Event or prior thereto, the Stock Unit Award may become payable in
securities or other consideration (the "Restricted Property") rather than in the Common Stock otherwise payable in respect of the Stock Unit Award. Such Restricted Property shall become payable at the
times and in such proportions set forth in Section 7 above or such earlier time as the Committee may authorize pursuant to Section 10 below. Notwithstanding the foregoing, to the extent
that the Restricted Property includes any cash, the commitment hereunder shall become an unsecured promise to pay an amount equal to such cash (with earnings attributable thereto as if such amount had
been invested, pursuant to policies established by the Committee, in interest bearing, FDIC insured (subject to applicable insurance limits) deposits of a depository institution selected by the
Committee) at such times and in such proportions as the Stock Unit Award becomes payable in accordance with Section 7 above. Notwithstanding the foregoing, the Stock Unit Award and any 

3

 

Common
Stock or other securities or property payable in respect of the Stock Unit Award shall continue to be subject to proportionate and equitable adjustments (if any) under Section 5.2 of the
Plan consistent with the effect of such events on stockholders generally, as the Committee determines to be necessary or appropriate, and in the number, kind and/or character of shares of Common Stock
or other securities, property and/or rights payable in respect of Stock Units granted under the Plan. All rights of the Participant hereunder are subject to those adjustments. For purposes of this
Agreement, "Event" means a liquidation, dissolution, Change in Control, merger, consolidation, or other combination or reorganization, or a recapitalization, reclassification, extraordinary dividend
or other distribution (including a split up or a spin off of the Corporation or any significant Subsidiary), or a sale or other distribution of substantially all the assets of the Corporation as an
entirety. 

        10.    Possible Early Settlement of Award.    The Committee retains
the right to accelerate the vesting and payment date of the outstanding and previously unvested Stock Units subject to the Award in connection with an Event, a Change in Control, or the termination of
the Participant's employment with the Corporation or one of its Subsidiaries. This Section 10 is not intended to prevent vesting of the Award pursuant to Section 8(c) above or an
adjustment to the Award as provided in the Plan or Section 9 above. 

        11.    Tax Withholding.    Upon payment of Dividend Equivalents and/or
the distribution of shares of Common Stock in respect of the Stock Units, the entity within the Company last employing the Participant shall have the right at its option to (a) require the
Participant (or the Participant's beneficiary, as the case may be) to pay or provide for payment in cash of the amount of any taxes which the Company may be required to withhold with respect to such
payment or distribution or (b) deduct from any amount payable to the Participant the amount of any taxes which the Company may be required to withhold with respect to such payment or
distribution. In any case where a tax is required to be withheld in connection with the delivery of shares of Common Stock under this Agreement, the Committee may, but is not required to, reduce the
number of shares to be delivered by (or otherwise reacquire) the appropriate number of shares valued at their then Fair Market Value, to satisfy such withholding obligation. 

        12.    Notices.    Any notice to be given under the terms of this
Agreement shall be in writing and addressed to the Corporation at its principal office located at 233 Kansas Street, El Segundo, California 90245, to the attention of the Assistant Secretary and to
the Participant at the address given beneath the Participant's signature hereto, or at such other address as either party may hereafter designate in writing to the other. 

        13.    Plan and Program.    The Award and all rights of the
Participant with respect thereto are subject to, and the Participant agrees to be bound by, all of the terms and conditions of the provisions of the Plan, incorporated herein by reference, to the
extent such provisions are applicable to Awards granted to employees. The Participant acknowledges receipt of a copy of the Plan, which is made a part hereof by this reference, and agrees to be bound
by the terms thereof. Unless otherwise expressly provided in other Sections of this Agreement, provisions of the Plan that confer discretionary authority on the Committee do not (and shall not be
deemed to) create any rights in the Participant unless such rights are expressly set forth herein or are otherwise in the sole discretion of the Committee so conferred by appropriate action of the
Committee under the Plan after the date hereof. If there is any conflict or inconsistency between the terms and conditions of this Agreement and of the Plan, the terms and conditions of the Plan shall
govern. 

        14.    No Service Commitment by Company.    Nothing contained in this
Agreement or the Plan constitutes an employment commitment by the Corporation or any of its Subsidiaries, affects the Participant's status as an employee at-will who is subject to
termination without cause, confers upon the Participant any right to remain employed by the Corporation or any Subsidiary, interferes in any way with the right of the Corporation or any Subsidiary at
any time to terminate such employment, or affects the right of the Corporation or any Subsidiary to increase or decrease the Participant's other compensation. 

4

 

        15.    Limitation on Participant's Rights.    Participation in the
Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Corporation as to amounts payable and shall not be construed
as creating a trust. The Plan, in and of itself, has no assets. The Participant shall have only the rights of a general unsecured creditor of the Corporation (or applicable Subsidiary) with respect to
amounts credited and benefits payable, if any, with respect to the Stock Units, and rights no greater than the right to receive the Common Stock (subject to adjustments) as a general unsecured
creditor with respect to Stock Units, as and when payable hereunder. 

        IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written. By the Participant's execution of this
Agreement, the Participant agrees to the terms and conditions hereof and of the Plan. 

					
	INTERNATIONAL RECTIFIER

CORPORATION, a Delaware corporation	 	 PARTICIPANT
	
 By:	
 	

  

  

	
 	

 

 

 Signature
	

Print Name:	
 	

  

	
 	

  

 Address
	

Its:	
 	

 

	
 	

 

 (City, State, Zip Code)

5

QuickLinks

Exhibit 10(zzz)

INTERNATIONAL RECTIFIER CORPORATION 2000 INCENTIVE PLAN RESTRICTED STOCK UNIT AWARD AGREEMENT

W I T N E S S E T H

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