Document:

exv10wbx

 

Exhibit 10.bx

EMPLOYMENT AGREEMENT

       

	 	SBS Technologies, Inc. (“Company”) and Bruce E. Castle (“Employee”) agree,
effective July 31, 2002:
	 
	 	1.	 	Employment. Company employs Employee for the period
beginning on the date of this Employment Agreement as set forth
below, and ending three years from its date or upon discharge or
resignation of Employee in accordance with the terms of this
Agreement (the “Employment Period”). During the Employment Period,
Employee will serve in the position of General Counsel of the
Company, or other management position as determined by the Company.
Employee will devote sufficient time and energies to the business of
Company to accomplish the duties assigned, will perform to the best
of Employee’s ability all duties assigned to Employee by Company and
will devote Employee’s best efforts to advance the interests of
Company. Employee will have the power and authority determined by
Company.
	 
	 	2.	 	Compensation. For all services performed by Employee for
Company during the Employment Period, Company will pay Employee the
salary and benefits set forth on Appendix “A”. Employee will be
entitled to participate in employee benefit programs established by
Company and applicable to all full-time employees. Employee will be
entitled to vacation, national holidays and paid sick leave in
accordance with Company policy and Appendix A. During vacation,
national holidays, and paid sick leave, Employee will receive
Employee’s usual compensation.
	 
	 	3.	 	Reimbursement of Expenses. Company recognizes that Employee,
in performing Employee’s duties hereunder, may be required to spend
sums of money in connection with those duties for the benefit of
Company. Employee may present to Company an itemized voucher
listing expenses paid by Employee in the performance of Employee’s
duties on behalf of Company, and on presentation of the itemized
voucher, Company will reimburse Employee for all reasonable expenses
itemized, including but not limited to, travel, meals, lodging,
entertainment, and promotion with respect to all activities approved
in advance by Company. Employee may receive advances from Company
for anticipated expenses. Employee agrees that the amount by which
an advance exceeds actual expenses (“Amount”) will be promptly
refunded to Company upon determination by Company that it is due,
that the Amount may be deducted from any payments of any nature
(including without limitation salary) owed by Company to employee,
and that the Amount will constitute a debt from Employee to Company,
enforceable by Company in all respects as if Employee had executed a
promissory note or other instrument acknowledging the debt, bearing
interest at a rate of 10% per year from the date repayment is due,
and payable in full on demand without set-off or deduction.
	 
	 	4.	 	Sick Leave and Disability. Employee will be entitled to
sick leave for the number of days determined by Company (“Sick
Leave”). Employee will be considered to be disabled during any
period in excess of Sick Leave during

Employment Agreement

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Exhibit 10.bx

	 	 	 	which Employee is unable to
work because of illness or incapacity (“Disability Period”).
Employee will be entitled to receive Employee’s full salary during
Sick Leave and will be deemed to be on leave, without pay, during
the Disability Period. If Employee is unable to work for a period
in excess of 90 days, Employee, at the discretion of the Chief
Executive Officer of Company, will be considered to have resigned.
In no event will Employee be entitled to payment or other
compensation for unused Sick Leave or Disability Period, unless
required by law or otherwise provided in a policy or employment
manual adopted by Company.
	 
	 	5.	 	Resignation and Discharge. Employee may resign or be
discharged pursuant to the terms of this paragraph. If Employee (i)
resigns, Employee must give 30 days’ notice to Company; (ii) is
discharged for cause (as later defined), Company may discharge
Employee immediately, without notice; or (iii) is discharged not for
cause from his responsibilities, Company must give 30 days’ notice
to Employee. If Employee is discharged not for cause, Employee will
be paid severance pay equal to six month’s base pay in effect at the
time of termination payable in monthly installments.
	 
	 	 	 	For purposes of this paragraph, “for cause” means that during the
Employment Period, Employee, unless otherwise provided by Company
policy or Company employment manual, (a) is reasonably believed by
Company (i) to have failed to comply with any law, regulation or
policy, including without limitation securities or employment or
non-discrimination or similar laws, regulations or policies, and
that failure causes a significant financial, regulatory,
operational or public perception detriment to Company, (ii) to
abuse, as determined by the Company, alcohol or to use drugs,
(other than as prescribed by Employee’s physician), or (b) refuses
to submit to testing for alcohol or drugs, or (c) is reasonably
believed by Company to have committed or is charged with any
felony or misdemeanor involving moral turpitude, or (d) through
willful neglect, gross negligence, or malfeasance causes a
significant financial, regulatory, operational or public
perception detriment to Company. A determination by the Board of
Directors that Employee has failed to perform Employee’s
responsibilities to the satisfaction of the Board of Directors,
without one or more of the other elements set out in this
paragraph, is not “for cause”.
	 
	 	6.	 	Competition and Confidential Information Restrictions.

	A.	 	Competition Restrictions. Employee may not
during the Employment Period, and for a period of two years
following the termination of the Employment Period, anywhere
in the United States, directly or indirectly, own, manage,
operate, invest in, control, be employed by, participate in,
be a financial sponsor of, or be connected in any manner with
the ownership, management, operation or control of any
business that competes with a business conducted by Company
at any time during the Employment Period or which Employee
knows, during the
Employment Period, that Company intends to conduct.
Employee

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Exhibit 10.bx

	 	 	acknowledges that this restriction is necessary
for Company’s welfare and protection in light of the
responsibilities assigned to Employee and Employee’s status
in Company, that Employee is fully and adequately
compensated for this restriction.
	 
	B.	 	Confidential Information. Employee
acknowledges and recognizes that Employee is, or will be,
employed by Company in a confidential relationship and may
receive and have access to the confidential business
information, customer names, contracts and other customer
data, business methods, techniques and trade secrets of
Company (“Confidential Information”). Employee may develop
ideas, conceptions, inventions, processes, methods, products
and improvements; and Employee may receive disclosures of
ideas, conceptions, inventions, processes, methods, products
and improvements made by other employees of Company (“Company
Inventions”). Employee may participate with Company in
improving and developing Confidential Information and Company
Inventions. Confidential Information and Company Inventions
developed on behalf of Company are neither commonly known nor
readily accessible to others and are used by Company in its
business to obtain a competitive advantage over Company’s
competitors who do not know or use the Confidential
Information or Company Inventions. Protection of the
Confidential Information and Company Inventions against
unauthorized disclosure and use is of critical importance to
Company in maintaining its competitive position. Employee
agrees that Employee will not, at any time, during or after
the Employment Period, make any independent use of, or
disclose to any other person or organization, except as
authorized by Company in writing, any Confidential
Information or Company Inventions. Upon termination of the
Employment Period for any reason, Employee shall promptly
deliver to Company all drawings, manuals, letters, notes,
notebooks, reports, customer lists, customer data, mailing
lists, and all other materials and records of any kinds, and
all copies thereof, that may be in the possession of, or
under the control of, Employee pertaining to Company’s
business including any that contain any Confidential
Information or Company Invention.
	 
	C.	 	Business Relationships. Employee acknowledges
Company’s efforts to establish valuable business
relationships with its clients, customers and suppliers.
Employee recognizes that Company has invested resources in
the training and the professional development of Employee,
and Employee further recognizes Employee’s responsibility to
the Company when Company entrusts Employee with Confidential
Information. In view of Company’s efforts, Employee agrees
that unless Company authorizes Employee to do so in writing,
Employee will not, for a period of one year after termination
of employment with Company, solicit the purchase of products

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Exhibit 10.bx

	 	 	or services directly competing with products and services of
Company from any person, corporation, business organization
or enterprise which: (i) has made any purchase of products or
services from Company within the two years immediately
preceding termination of former Employee’s employment
(“Customer”); or (ii) has
been contacted by Employee during the last 12 months of
Employee’s employment for the purpose of securing the
purchase of products or services from Company (“Prospective
Customer”).
	 
	D.	 	Non-Solicitation of Employees. Employee is
aware that Company has a significant investment in its
employees. For a period of twelve months after termination
for any reason of Employee’s employment, neither Employee nor
any person or entity by whom Employee may be employed or of
which Employee may be an officer, director, partner, trustee
or control person, will directly or indirectly employ or
solicit to employ, or otherwise retain or solicit to retain,
any person employed by Company as of the date of Employee’s
termination of employment or during the twelve month period
thereafter, unless that person has been terminated by Company
without cause (as determined in good faith by Company) before
the time of the solicitation, employment or retention.
	 
	E.	 	Remedies. Employee and Company recognize that
irreparable injury may result to Company in the event of
breach or threatened breach of this paragraph of this
Agreement by Employee. If Employee commits a breach or
threatens to commit a breach of any of the provisions of this
paragraph, Company shall have the right and remedy, in
addition to any others that may be available, at law or in
equity, to have the provisions of this paragraph specifically
enforced by any court having equity jurisdiction, together
with an accounting therefor, Employee having specifically
acknowledged that any such breach or threatened breach will
cause irreparable injury to Company and that money damages
will not provide an adequate remedy to Company.
	 

	 	7.	 	Invalidity. If any provision of this Employment Agreement is
later construed to be unenforceable or invalid, the remaining
provisions shall not be affected but shall continue in full effect.
If any term of this Employment Agreement is found to be
unenforceable or invalid by any court having jurisdiction, that
court shall have the power to reduce or revise the term and the
paragraph(s) shall then be fully enforceable.
	 
	 	8.	 	Assignment. Employee acknowledges that Employee’s services
are unique and personal. Accordingly, Employee may not assign
Employee’s rights or delegate Employee’s duties or obligations under
this Agreement. The Employer’s rights and obligations shall inure
to the benefit of and shall be binding upon Employer’s successor and
assigns.
	 
	 	9.	 	Personnel Policies. Company’s written personnel policies
apply to all of Company’s employees, including Employee, and
describe additional terms and conditions of employment of Employee.
Those terms and conditions, as Company may revise from time to time,
are incorporated by reference into this Employment Agreement.
Company reserves the right to revise the personnel

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Exhibit 10.bx

	 	 	 	policies from
time to time, as Company deems necessary. If any personnel policy
provision conflicts with a provision of this Employment Agreement,
the terms of this Employment Agreement shall govern.
	 
	 	10.	 	Alcohol and Drug Testing. Employee agrees to comply with and
submit to any Company program or policy for testing for alcohol
abuse or use of drugs and, in the absence of such a program or
policy, to submit to such testing as may be required by Company and
administered in accordance with applicable law and regulations.
	 
	 	11.	 	Binding Effect. This Employment Agreement constitutes the
entire understanding of the parties, may be modified only in
writing, is governed by laws of the state of New Mexico, and will
bind and inure to the benefit of Employee and Employee’s personal
representative and Company and Company’s successors and assigns.

DATED: June 27, 2002.

	 	COMPANY:

	 	SBS Technologies, Inc.

	 	/S/ James E. Dixon

By: James E. Dixon

Its: Chief Financial Officer

	 	EMPLOYEE:

	 	/S/ Bruce E. Castle

Bruce E. Castle

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Exhibit 10.bx

Appendix A

to

Employment Agreement

Bruce E. Castle

Employee

Position: General Counsel

Compensation: $225,000 base annual salary.

	 	 	 
	Benefits:	 	 
	Standard Employee	 	 
	Benefits:	 	
Medical insurance
	 	 	
Dental insurance
	 	 	
Life Insurance
	 	 	
Long and short-term disability insurance
	 	 	
Ten holidays per year
	 	 	
Sick leave
	 
	Optional Benefits:	 	
401(k) Plan
	 	 	
Flexible Spending Account Program
	 	 	
Supplemental Life Insurance

All Standard and Optional Benefits will be as provided by Company to employees
generally, and are subject to modification from time to time by Company.

	 	 	 
	Additional Benefits:	 	
Four weeks paid vacation per year
	 	 	
Immediate, full vesting under any employee plans
	 	 	
in effect at signing that require vesting

Stock Option Grant: Nonqualified stock options for 20,000 shares of common
stock, with exercise, termination and other terms as provided in an Option
Agreement (“Option Agreement”) and the 2000 Long-Term Equity Incentive Plan:

               The Options will vest in four installments, vesting as follows:

	 	 	 
	5,000	 	
July 31, 2003
	5,000	 	
July 31, 2004
	5,000	 	
July 31, 2005
	5,000	 	
July 31, 2006

All options granted as of this date which have not yet vested will vest
immediately prior to a change of control of the company. The Options will
terminate ten years from the date of grant, and the exercise price for the
options will be the Nasdaq closing price on July 31, 2002.

Employment Agreement

Page 6<PAGE>
                                                                    EXHIBIT 10.2

                    EXECUTIVE COMMITTEE EMPLOYMENT AGREEMENT

     THIS EXECUTIVE COMMITTEE EMPLOYMENT AGREEMENT (this "AGREEMENT") is entered
into as of April 28, 2003 between Johannes H. Wildenberg (the "EXECUTIVE") and
Fairchild Semiconductor Corporation, a Delaware corporation (the "COMPANY").

     For ease of reference, this Agreement is divided into the following parts,
which begin on the pages indicated:

<TABLE>
<S>                        <C>
PART 1--                   TERM, DUTIES AND SCOPE, COMPENSATION AND BENEFITS DURING EMPLOYMENT
                           (Sections 1-4, beginning on page 2)

                              o        Salary
                              o        EFIP Bonus
                              o        Other Compensation

PART 2--                   COMPENSATION AND BENEFITS IN CASE OF ACTUAL OR CONSTRUCTIVE TERMINATION
                           (Sections 5-6, beginning on page 3)

                              o        Termination

PART 3--                   COMPENSATION AND BENEFITS IN CASE OF A CHANGE IN CONTROL
                           (Section 7, beginning on page 4)

                              o        Change in Control

PART 4--                   TRADE SECRETS, INTELLECTUAL PROPERTY, NON-COMPETITION, REMEDIES, SEVERABILITY, SUCCESSORS, MISCELLANEOUS
                           PROVISIONS, SIGNATURE PAGE
                           (Sections 8-14, beginning on page 6)

                              o        Non-Compete
                              o        Confidentiality
                              o        Forfeiture in Case of Certain Events
</TABLE>
<PAGE>
                                      TERMS

     For good and valuable consideration, the adequacy and receipt of which are
hereby acknowledged, the Company and the Executive, intending to be legally
bound, agree as follows:

PART 1 TERM OF EMPLOYMENT, DUTIES AND SCOPE, COMPENSATION AND BENEFITS DURING
       EMPLOYMENT

SECTION 1. TERM OF EMPLOYMENT

(a)  Term. Unless sooner terminated as provided in this Agreement, the term of
     this Agreement will begin on the effective date of this Agreement and will
     end on the first anniversary thereof (the "INITIAL TERM"). The term of this
     Agreement will be automatically extended for one or more successive
     one-year periods (each a "RENEWAL TERM") unless the Company or the
     Executive gives the other written notice of non-renewal at least 30 days
     before the end of the Initial Term or the applicable Renewal Term. The
     Initial Term and any Renewal Term are collectively referred to as the
     "Term."

(b)  Termination or Resignation. Subject to the other terms of this Agreement,
     including those in Part 2, either the Company or the Executive may
     terminate the Executive's employment with the Company at any time and for
     any reason or no reason upon written notice to the other party.

SECTION 2. DUTIES AND SCOPE OF EMPLOYMENT

(a)  Position. The Company will employ the Executive (or, if the Company is not
     the Executive's employer, the Company will cause its appropriate subsidiary
     to employ the Executive) during the Term in the position of Executive Vice
     President and Chief Operating Officer, reporting to the Chief Executive
     Officer. The Executive will be given duties, responsibilities and
     authorities that are appropriate to this position.

(b)  Obligations. During the Term, the Executive will devote the Executive's
     full business efforts and time to the business and affairs of the Company
     as needed to carry out his duties and responsibilities. The foregoing shall
     not preclude the Executive from engaging in appropriate civic, charitable,
     religious or other non-profit activities or from devoting a reasonable
     amount of time to private investments or from serving on the boards of
     directors of other entities, provided that those activities do not
     interfere or conflict with the Executive's duties or responsibilities to
     the Company.

SECTION 3. BASE COMPENSATION

During the Term, the Company will pay the Executive, as compensation for
services, a base salary at the annual rate of at least $400,000. Salary
increases will be considered after the first anniversary of this Agreement, or
sooner in the discretion of the Chief Executive Officer, on a basis consistent
with Company policies.

                                       2
<PAGE>
SECTION 4. OTHER COMPENSATION

(a)  EFIP. During the Term the Executive will be enrolled in the Enhanced
     Fairchild Incentive Plan (EFIP), at a new targeted participation level of
     75%. While bonuses under this program are never guaranteed, typically, if
     the company meets its EBITDA goals, participants receive 100% of the
     targeted payout. If the company exceeds those goals, participants can
     receive up to 200% of the targeted payout.

(b)  DSUs. In addition to any grants of options or other awards for which the
     Executive may be eligible under the Company's general stock plan, the
     Company will grant the Executive 20,000 deferred stock units, subject to
     the applicable Company plan governing such award and an award agreement
     under such plan not inconsistent with the terms of this paragraph. The
     grant date of this grant of deferred stock units will be the effective date
     of this Agreement. This grant will vest in 25% increments on the first four
     anniversaries of the grant date. The Executive will be solely responsible
     for any taxes associated with the receipt, vesting, or delivery of shares
     or cash under, this grant, and the Company will make appropriate
     withholdings from any distributions of shares or cash thereunder.

(c)  Options. (i) The Company will grant the Executive options to purchase
     100,000 shares of the company's common stock, subject to the applicable
     Company plan governing such award and an award agreement under such plan
     not inconsistent with the terms of this paragraph. The grant date for this
     grant of options will be the effective date of this Agreement. This grant
     will vest in 50% increments on each of January 1, 2004 and January 1, 2005,
     if on each respective date the Executive is employed by the Company. The
     Executive will be solely responsible for any taxes associated with the
     foregoing stock option grant.

          (ii) In addition, so long as he is employed by the Company, the
     Company will make annual grants to the Executive of options to purchase
     shares of common stock, subject to the applicable Company plan governing
     such award, covering a number of shares as recommended by independent
     compensation consultants and determined by the compensation committee of
     the Company's board of directors.

PART 2 COMPENSATION AND BENEFITS IN CASE OF TERMINATION WITHOUT CAUSE OR FOR
       GOOD REASON

SECTION 5. TERMINATIONS AND RELATED DEFINITIONS

Part 2 of the Agreement, consisting of Sections 5 and 6, describes the benefits
and compensation, if any, payable in case of certain terminations of employment.
Part 3 of the Agreement, consisting of Section 7, describes benefits and
compensation, if any, payable in case of a Change in Control.

In this Agreement,

(a)  "CAUSE" means (1) a willful failure by the Executive to substantially
     perform the Executive's duties under this Agreement, other than a failure
     resulting from the

                                       3
<PAGE>
     Executive's complete or partial incapacity due to physical or mental
     illness or impairment, (2) a willful act by the Executive that constitutes
     gross misconduct and that is materially injurious to the Company, (3) a
     willful breach by the Executive of a material provision of this Agreement
     (including Sections 8 and 10) or (4) a material and willful violation of a
     federal or state law or regulation applicable to the business of the
     Company that is materially and demonstrably injurious to the Company,
     provided that no act, or failure to act, by the Executive shall be
     considered "willful" unless committed without good faith and without a
     reasonable belief that the act or omission was in the Company's best
     interest; and

(b)  "GOOD REASON" means any of the following: (1) a reduction in the
     Executive's base salary other than as part of a broader executive pay
     reduction, (2) a reduction in the Executive's incentive compensation (EFIP)
     target other than as part of a broader executive reduction, (3) a material
     change in the employment benefits available to the Executive, if such
     change does not similarly affect all employees of the Company eligible for
     such benefits, or (4) a material reduction in your duties, responsibilities
     or authority.

SECTION 6. TERMINATION BY COMPANY WITHOUT CAUSE OR BY EXECUTIVE FOR GOOD REASON

(a)  Severance. If, during the Term, the Company terminates the Executive's
     employment for any reason other than Cause (including as a result of the
     Executive's death or disability), or if the Executive terminates his
     employment for Good Reason, then, provided the Executive (or his legal
     representative, if applicable) executes the release of claims described in
     Section 6(b), the Company will pay the Executive, in a lump sum immediately
     following the effective date of such termination, an amount equal to the
     Executive's base salary in effect on such termination date. The Executive
     will be responsible for all taxes relating to such payments and the Company
     will make all required withholdings of all such taxes.

(b)  Release of Claims. As a condition to the receipt of the payments and
     benefits described in Section 6(a), the Executive (or his legal
     representative, if applicable) shall be required to execute a release of
     all claims arising out of the Executive's employment or the termination
     thereof, including any claim of discrimination under U.S. state or federal
     law or any non-U.S. law, but excluding claims for indemnification from the
     Company under any indemnification agreement with the Company, its
     certificate of incorporation or bylaws (or equivalent organizing
     instruments), or claims under applicable directors' and officers'
     insurance.

(c)  Conditions to Receipt of Payments. Without limiting the Company's other
     rights or remedies in the even of the Executive's breach of any provision
     of this Agreement, the obligation of the Company to provide the payments
     described in this Section 6 shall cease if the Executive breaches any of
     the provisions of Section 8 or 10.

PART 3 COMPENSATION AND BENEFITS IN CASE OF A CHANGE IN CONTROL

                                       4
<PAGE>
SECTION 7. CHANGE IN CONTROL

(a)  Payment. In the event of a Change in Control, if the Executive's employment
     is terminated by the Company other than for Cause (including as a result of
     the Executive's death or disability), or by the Executive for Good Reason,
     in either case within the time period beginning six months before the
     Change in Control and ending 12 months after the Change in Control, the
     cash payment under Section 6(a) will be paid in a lump sum within 14 days
     after the date of such termination. Any obligation of the Company under
     this Section 7 will survive any termination of this Agreement.

(b)  Definition. A "CHANGE IN CONTROL" means the happening of any of the
     following events (for purposes of this Section 7 only, the "COMPANY" means
     Fairchild Semiconductor International, Inc., a Delaware corporation, and
     not any of its subsidiaries):

     (1)  An acquisition by any individual, entity or group (within the meaning
          of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of
          1934, as amended (the "EXCHANGE ACT")) (any of which, a "PERSON") of
          beneficial ownership (within the meaning of Rule 13d-3 promulgated
          under the Exchange Act) of 25% or more of either (i) the
          then-outstanding shares of common stock of the Company (the
          "OUTSTANDING COMPANY COMMON STOCK") or (ii) the combined voting power
          of the then-outstanding voting securities of the Company entitled to
          vote generally in the election of directors (the "OUTSTANDING COMPANY
          VOTING SECURITIES"); excluding, however, the following: (A) Any
          acquisition directly from the Company, other than an acquisition by
          virtue of the exercise of a conversion privilege unless the security
          being so converted was itself acquired directly from the Company, (B)
          Any acquisition by the Company, (C) Any acquisition by any employee
          benefit plan (or related trust) sponsored or maintained by the Company
          or any entity controlled by the Company, or (D) Any acquisition
          pursuant to a transaction which complies with clauses (i), (ii) and
          (ii) of Section 7(b)(3); or

     (2)  A change in the composition of the board of directors of the Company
          (the "BOARD") such that the individuals who, as of the effective date
          of this Agreement, constitute the Board (such Board shall be
          hereinafter referred to as the "INCUMBENT BOARD") cease for any reason
          to constitute at least a majority of the Board; provided, however, for
          purposes of this definition, that any individual who becomes a member
          of the Board subsequent to the effective date of this Agreement, whose
          election, or nomination for election by the Company's shareholders,
          was approved by a vote of at least a majority of those individuals who
          are members of the Board and who were also members of the Incumbent
          Board (or deemed to be such pursuant to this proviso) shall be
          considered as though such individual were a member of the Incumbent
          Board; but, provided further, that any such individual whose initial
          assumption of office occurs as a result of either an actual or
          threatened election contest (as such terms are used in Rule 14a-11 of
          Regulation 14A promulgated under the Exchange Act) or other actual or
          threatened solicitation of proxies or consents by or on behalf of a
          Person other than the Board shall not be so considered as a member of
          the Incumbent Board; or

                                       5
<PAGE>
     (3)  Consummation of a reorganization, merger or consolidation or sale or
          other disposition of all or substantially all of the assets of the
          Company ("CORPORATE TRANSACTION"); excluding, however, such a
          Corporate Transaction pursuant to which (i) all or substantially all
          of the individuals and entities who are the beneficial owners,
          respectively, of the Outstanding Company Common Stock and Outstanding
          Company Voting Securities immediately prior to such Corporate
          Transaction will beneficially own, directly or indirectly, more than
          50% of, respectively, the outstanding shares of common stock, and the
          combined voting power of the then outstanding voting securities
          entitled to vote generally in the election of directors, as the case
          may be, of the corporation resulting from such Corporate Transaction
          (including a corporation which as a result of such transaction owns
          the Company or all or substantially all of the Company's assets either
          directly or through one or more subsidiaries) in substantially the
          same proportions as their ownership, immediately prior to such
          Corporate Transaction, of the Outstanding Company Common Stock and
          Outstanding Company Voting Securities, as the case may be, (ii) no
          Person (other than the Company, any employee benefit plan (or related
          trust) of the Company or such corporation resulting from such
          Corporate Transaction) will beneficially own, directly or indirectly,
          25% or more of, respectively, the outstanding shares of common stock
          of the corporation resulting from such Corporate Transaction or the
          combined voting power of the outstanding voting securities of such
          corporation entitled to vote generally in the election of directors
          except to the extent that such ownership existed prior to the
          Corporate Transaction, and (iii) individuals who were members of the
          Incumbent Board will constitute at least a majority of the members of
          the board of directors of the corporation resulting from such
          Corporate Transaction; or

     (4)  The approval by the stockholders of the Company of a complete
          liquidation or dissolution of the Company.

PART 4 TRADE SECRETS, SUCCESSORS, MISCELLANEOUS PROVISIONS, SIGNATURE PAGE

SECTION 8. CONFIDENTIAL INFORMATION

(a)  Acknowledgement. The Company and the Executive acknowledge that the
     services to be performed by the Executive under this Agreement are unique
     and extraordinary and that, as a result of the Executive's employment, the
     Executive will be in a relationship of confidence and trust with the
     Company and will come into possession of Confidential Information (as
     defined below) that is (1) owned or controlled by the Company, (2) in the
     possession of the Company and belonging to third parties or (3) conceived,
     originated, discovered or developed, in whole or in part, by the Executive.
     "CONFIDENTIAL INFORMATION" means trade secrets and other confidential or
     proprietary business, technical, personnel or financial information,
     whether or not the Executive's work product, in written, graphic, oral or
     other tangible or intangible forms, including specifications, samples,
     records, data, computer programs, drawings, diagrams, models,

                                       6
<PAGE>
     customer names, ID's or e-mail addresses, business or marketing plans,
     studies, analyses, projections and reports, communications by or to
     attorneys (including attorney-client privileged communications), memos and
     other materials prepared by attorneys or under their direction (including
     attorney work product), and software systems and processes. Any
     Confidential Information that is not readily available to the public shall
     be considered to be a trade secret and confidential and proprietary, even
     if it is not specifically marked as such, unless the Company advises the
     Executive otherwise in writing.

(b)  Nondisclosure. The Executive agrees that the Executive will not, without
     the prior written consent of the Company, directly or indirectly, use or
     disclose Confidential Information to any person, during or after the
     Executive's employment, except as may be necessary in the ordinary course
     of performing the Executive's duties under this Agreement. The Executive
     will keep the Confidential Information in strictest confidence and trust.
     This Section 8(b) shall apply indefinitely, both during and after the Term.

(c)  Surrender Upon Termination. The Executive agrees that in the event of the
     termination of the Executive's employment for any reason, whether before or
     after the Term, the Executive will immediately deliver to the Company all
     property belonging to the Company, including documents and materials of any
     nature pertaining to the Executive's work with the Company, and will not
     take with the Executive any documents or materials of any description, or
     any reproduction thereof of any description, containing or pertaining to
     any Confidential Information. It is understood that the Executive is free
     to use information that is in the public domain, but not as a result of a
     breach of this Agreement.

(d)  Forfeiture in Certain Events. The Company may, in its sole discretion, in
     the event of serious misconduct by the Executive (including any misconduct
     prejudicial to or in conflict with the Company or its subsidiaries, or any
     termination of employment of the Executive for Cause), or any activity of
     the Executive in competition with the business of the Company or any
     subsidiary, (A) cancel any outstanding award of stock options, restricted
     stock, deferred stock units or other award granted to the Executive under a
     Company plan or otherwise (an "AWARD"), in whole or in part, whether or not
     vested or deferred, or (B) following the exercise or payment of an Award,
     within a period of time specified by the Company, require the Executive to
     repay to the Company any gain realized or payment received upon the
     exercise or payment of such Award (with such gain or payment valued as of
     the date of exercise or payment). Such cancellation or repayment obligation
     shall be effective as of the date specified by the Company, which may
     provide for an offset to any future payments owed by the Company or any
     subsidiary to the Executive if necessary to satisfy the repayment
     obligation. Any determination of whether the Executive has engaged in a
     serious breach of conduct or, if applicable, any activity in competition
     with the business of the Company or any subsidiary, will be determined by
     the Company in good faith and in its sole discretion. This Section 8(d)
     shall apply during and following the Term of this Agreement, but shall have
     no application following a Change in Control.

                                       7
<PAGE>
SECTION 9. ASSIGNMENT OF RIGHTS OF INTELLECTUAL PROPERTY

The Executive will promptly and fully disclose all Intellectual Property to the
Company. The Executive hereby assigns and agrees to assign to the Company (or as
otherwise directed by the Company) the Executive's full right, title and
interest in and to all Intellectual Property. The Executive will execute any and
all applications for domestic and foreign patents, copyrights or other
proprietary rights and to do such other acts (including the execution and
delivery of instruments of further assurance or confirmation) requested by the
Company to assign the Intellectual Property to the Company and to permit the
Company and its affiliates to enforce any patents, copyrights or other
proprietary rights to the Intellectual Property. "INTELLECTUAL PROPERTY" means
inventions, discoveries, developments, methods, processes, compositions, works,
concepts and ideas (whether or not patentable or copyrightable or constituting
trade secrets) conceived, made, created, developed or reduced to practice by the
Executive (whether alone or with others, whether or not during normal businesses
hours or on or off Company premises) during the Executive's employment that
relate to any business, venture or activity being conducted or proposed to be
conducted by the Company or its subsidiaries at any time during the term of the
Executive's employment with the Company.

SECTION 10. RESTRICTIONS ON ACTIVITIES OF THE EXECUTIVE

(a)  Acknowledgments. The Executive agrees that he is being employed under this
     Agreement in a key management capacity with the Company, that the Company
     is engaged in a highly competitive business and that the success of the
     Company's business in the marketplace depends upon its goodwill and
     reputation for quality and dependability. The Executive further agrees that
     reasonable limits may be placed on his ability to compete against the
     Company and its affiliates as provided in this Agreement so as to protect
     and preserve their legitimate business interests and goodwill.

(b)  Agreement Not to Compete or Solicit.

     (1)  During the Non-Competition Period (as defined below), the Executive
          will not engage or participate in, directly or indirectly, as
          principal, agent, employee, corporation, consultant, investor or
          partner, or assist in the management of, any business which is
          Competitive with the Company (as defined below).

     (2)  During the Non-Competition Period, the Executive will not, directly or
          indirectly, through any other entity, hire or attempt to hire, any
          officer, director, consultant, executive or employee of the Company or
          any of its affiliates during his or her engagement with the Company or
          such affiliate. During the Non-Competition Period, the Executive will
          not call upon, solicit, divert or attempt to solicit or divert from
          the Company or any of its affiliates any of their customers or
          suppliers or potential customers or suppliers of whose names he was
          aware during his term of employment (other than customers or suppliers
          or potential customers or suppliers contacted by the Executive solely
          in connection with a business that is not Competitive with the
          Company).

                                       8
<PAGE>
     (3)  The "NON-COMPETITION PERIOD" means the period during which Executive
          is employed by the Company and the following 12 months. Additionally,
          the "Non-Competition Period" shall include any period during which the
          Executive is receiving payments or other benefits under this
          Agreement, or would have been receiving such payments or benefits but
          for their acceleration due to the terms of this Agreement.

     (4)  A business shall be considered "COMPETITIVE WITH THE COMPANY" if it is
          engaged in any business, venture or activity in the Restricted Area
          (as defined below) which competes or plans to compete with any
          business, venture or activity being conducted or actively and
          specifically planned to be conducted within the Non-Competition Period
          (as evidence by the Company's internal written business plans or
          memoranda) by the Company, or any group, division or affiliate of the
          Company, at the date the Executive's employment under this Agreement
          is terminated.

     (5)  The "RESTRICTED AREA" means the United States of America and any other
          country where the Company, or any group, division or affiliate of the
          Company, is conducting, or has proposed to conduct within the
          Non-Competition Period (as evidenced by the Company's internal written
          business plans or memoranda), any business, venture or activity, at
          the date the Executive's employment under this Agreement is
          terminated.

     (6)  Notwithstanding the provisions of this Section 10, the parties agree
          that (A) ownership of not more than three percent (3%) of the voting
          stock of any publicly held corporation shall not, of itself,
          constitute a violation of this Section 10 and (B) working as an
          employee of an entity that has a stand-alone division or business unit
          which is Competitive with the Company shall not, of itself, constitute
          a violation of this Section 10 if the Executive is not, in any way
          (directly or indirectly, as principal, agent, employee, corporation,
          consultant, advisor, investor or partner), responsible for,
          compensated with respect to, or involved in the activities of such
          stand-alone division or business unit and does not (directly or
          indirectly) provide information or assistance to such stand-alone
          division or business unit).

SECTION 11. REMEDIES

It is specifically understood and agreed that any breach of the provisions of
Section 8 or 10 of this Agreement would likely result in irreparable injury to
the Company and that the remedy at law alone would be an inadequate remedy for
such breach, and that in addition to any other remedy it may have, the Company
shall be entitled to enforce the specific performance of this Agreement by the
Executive and to obtain both temporary and permanent injunctive relief without
the necessity of proving actual damages.

                                       9
<PAGE>
SECTION 12. SEVERABLE PROVISIONS

The provisions of this Agreement are severable and the invalidity of any one or
more provisions shall not affect the validity of any other provision. In the
event that a court of competent jurisdiction shall determine that any provision
of this Agreement or the application thereof is unenforceable in whole or in
part because of the duration of scope thereof, the parties hereby agree that
such court, in making such determination, shall have the power to reduce the
duration and scope of such provision to the extent necessary to make it
enforceable and that this Agreement in its reduced form shall be valid and
enforceable to the fullest extent permitted by law.

SECTION 13. SUCCESSORS

(a)  Company's Successors. The Company will require any successor (whether
     direct or indirect and whether by purchase, lease, merger, consolidation,
     liquidation or otherwise) to all or substantially all of the Company's
     business or assets, by an agreement in substance and form satisfactory to
     the Executive, to assume this Agreement and to agree expressly to perform
     this Agreement in the same manner and to the same extent as the Company
     would be required to perform it in the absence of a succession. The
     Company's failure to obtain such agreement prior to the effectiveness of a
     succession shall be a breach of this Agreement and shall entitle the
     Executive to all of the compensation and benefits to which the Executive
     would have been entitled under this Agreement if the Company had terminated
     the Executive's employment for any reason other than Cause, on the date
     when such succession becomes effective. For all purposes under this
     Agreement, except as otherwise provided in this Agreement, the term
     "Company" shall include any successor to the Company's business or assets
     that executes and delivers the assumption agreement described in this
     Section 13(a), or that becomes bound by this Agreement by operation of law.

(b)  Executive's Successors. This Agreement and all rights of the Executive
     under this Agreement shall inure to the benefit of, and be enforceable by,
     the Executive's personal or legal representatives, executors,
     administrators, successors, heirs, distributees, devisees and legatees.

SECTION 14. GENERAL PROVISIONS

(a)  Waiver. No provision of this Agreement shall be modified, waived or
     discharged unless the modification, waiver or discharge is agreed to in
     writing and signed by the Executive and by an authorized officer of the
     Company (other than the Executive). No waiver by either party of any breach
     of, or of compliance with, any condition or provision of this Agreement by
     the other party shall be considered a waiver of any other condition or
     provision or of the same condition or provision at another time.

(b)  Whole Agreement; Interpretation. No agreements, representations or
     understandings (whether oral or written and whether express or implied)
     that are not expressly set forth in this Agreement have been made or
     entered into by either party with respect to the subject matter hereof. In
     addition, the Executive hereby acknowledges and agrees that

                                       10
<PAGE>
     this Agreement supersedes in its entirety any employment agreement between
     the Executive and the Company in effect immediately prior to the effective
     date of this Agreement. As of the effective date of this Agreement, such
     employment agreement shall terminate without any further obligation by
     either party thereto, and the Executive hereby relinquishes any further
     rights that the Executive may have had under such prior employment
     agreement. The reference table on the first page and the headings in this
     Agreement are for convenience of reference only and will not affect the
     construction or interpretation of this Agreement. The word "or" is used in
     its non-exclusive sense. Unless otherwise stated, the word "including"
     should be read to mean "including without limitation" and does not limit
     the preceding words or terms. All references to "Sections" or other
     provisions in this Agreement are to the corresponding Sections or
     provisions in this Agreement. All words in this Agreement will be construed
     to be of such gender or number as the circumstances require.

(c)  Notice. Notices and all other communications contemplated by this Agreement
     shall be in writing and shall be deemed to have been duly given when
     personally delivered, mailed by U.S. registered or certified mail, return
     receipt requested, or sent by a documented overnight courier service. In
     the case of the Executive, mailed notices shall be addressed to the
     Executive at the home address maintained in the Company's records. In the
     case of the Company, mailed notices shall be addressed to its corporate
     headquarters, and all notices shall be directed to the attention of its
     Chief Executive Officer.

(d)  Setoff. The Company may set off against any payments owed to the Executive
     under this Agreement any debt or obligation of the Executive owed to the
     Company.

(e)  Choice of Law. The validity, interpretation, construction and performance
     of this Agreement shall be governed by the laws of the State of Maine,
     irrespective of Maine's choice-of-law principles.

(f)  Arbitration. Except as otherwise provided with respect to the enforcement
     of Sections 8 and 10, any dispute or controversy arising out of the
     Executive's employment or the termination thereof, including any claim of
     discrimination under U.S. (state or federal) or non-U.S. law, shall be
     settled exclusively by arbitration in Portland, Maine, in accordance with
     the rules of the American Arbitration Association then in effect. Judgment
     may be entered on the arbitrator's award in any court having jurisdiction.

(g)  No Assignment of Benefits. The rights of any person to payments or benefits
     under this Agreement shall not be made subject to option or assignment,
     either by voluntary or involuntary assignment or by operation of law,
     including bankruptcy, garnishment, attachment or other creditor's process,
     and any action in violation of this Section 14(g) shall be void.

(h)  Limitation of Remedies. If the Executive's employment terminates for any
     reason, the Executive shall not be entitled to any payments, benefits,
     damages, awards or compensation other than as provided by this Agreement,
     including under the severance policies of the Company or any subsidiary.

                                       11
<PAGE>
(i)  Taxes. All payments made pursuant to this Agreement shall be subject to
     withholding of applicable taxes.

(j)  Discharge of Responsibility. The payments under this Agreement, when made
     in accordance with the terms of this Agreement, shall fully discharge all
     responsibilities of the Company to the Executive that existed at the time
     of termination of the Executive's employment.

                                       12
<PAGE>
     IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the
case of the Company by its duly authorized officer, as of the day and year first
above written. The Executive has consulted, or has had the opportunity to
consult, with counsel (who is other than the Company's counsel) prior to
execution of this Agreement.

                                    EXECUTIVE

                                    /s/ Johannes H. Wildenberg
                                    --------------------------------------------
                                    Johannes H. Wildenberg

                                    FAIRCHILD SEMICONDUCTOR CORPORATION

                                    By /s/ Kirk Pond
                                       -----------------------------------------

                                    Its Chairman, President and CEO
                                        ----------------------------------------

                                       13

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