Document:

Non-Competition Agreement - Keith L. Barnes

  
 Exhibit 10.1

 NON-COMPETITION AGREEMENT 
 This Non-Competition Agreement (this “Agreement”) entered into of the last date signed below by and between Keith L. Barnes (“Stockholder”) and Verigy Ltd., a corporation
organized under the laws of Singapore (the “Company”). 
 RECITALS 

WHEREAS, the Company, Alisier Limited, a corporation organized under the laws of Singapore (“HoldCo”), LTX-Credence
Corporation, a Massachusetts corporation (“LTX-Credence”) and certain other signatories (collectively, the “Parties”) have entered into an Agreement and Plan of Merger, dated as of November 17, 2010 (the
“Merger Agreement”), pursuant to which the businesses of LTX-Credence and the Company will be combined (the “Transaction”). The Parties of the Merger Agreement intend that the Transaction will result in the
Company and LTX-Credence both surviving as wholly-owned subsidiaries of HoldCo (the “Combined Transaction”). In the alternative, if certain requisite legal approvals can not be obtained, then the Transaction will be consummated with
LTX-Credence surviving as a wholly-owned subsidiary of the Company (the “Merger”). Following the closing of either the Combined Transaction or the Merger, as applicable (the “Closing”), the ultimate parent entity,
either HoldCo or the Company, shall be referred to herein as “Buyer”; 
 WHEREAS, Stockholder and the Company
are parties to a Corrected Second Amended and Restated Severance Agreement dated March 3, 2010 (the “Severance Agreement”); 
 WHEREAS, Stockholder has a substantial interest in the Company as the holder of a significant number of shares of the Company’s capital stock; 

WHEREAS, the Company and Stockholder mutually desire that the entire goodwill of the Company be transferred to Buyer as part of the
Closing, and acknowledge that Buyer’s failure to receive the entire goodwill contemplated by the Closing would have the effect of reducing the value of the Company to Buyer; 

WHEREAS, as an incentive for Stockholder to lead the Company through the successful transaction with the Parties to the Merger Agreement,
and to preserve the value and goodwill of the business being acquired by Buyer after the Closing and to protect the trade secrets of the Company acquired by Buyer, the Merger Agreement contemplates, among other things, that Stockholder shall enter
into this Agreement and that this Agreement shall become effective at the Effective Date (as defined in Section 1 below); and 
 WHEREAS, the Severance Agreement shall continue in effect except as expressly modified herein. 
 AGREEMENT 
 NOW, THEREFORE, in consideration of the mutual promises made
herein, the Company and Stockholder hereby agree as follows: 
 1. Effective Date. Subject to and contingent upon both
the execution and delivery of the Merger Agreement and related documents by the Parties, and the successful transition by Stockholder from his current position as Chief Executive Officer and Chairman of the Company to the position of Chairman of
Buyer, this Agreement shall be effective as of the date upon which the Merger Agreement is signed by the Parties thereto (the “Effective Date”). 

  
 2. Benefits.
Supplementing any benefits that Stockholder may be entitled to under any arrangement with the Company, including, but not limited to, the Severance Agreement, Stockholder shall be eligible to receive the following, subject to his not breaching his
obligations hereunder and under the Severance Agreement: 
 (a) Death. In the event that Stockholder dies prior to his
contemplated employment termination date of December 31, 2010, the severance pay and benefits that would otherwise be payable and made to Stockholder upon a termination event set forth in Section 2.1 of the Severance Agreement shall be
payable hereunder to the personal representative of Stockholder’s estate or to person(s) to whom such amounts may be transferred pursuant to Stockholder’s will or in accordance with applicable laws of descent or distribution (the
“Estate”), with any such cash amounts payable in a lump sum within thirty (30) calendar days following Stockholder’s death. 
 (b) Cash Payments. Stockholder (or in the event of Stockholder’s death, his Estate) shall receive an aggregate amount of cash equal to $146,000, less applicable withholding taxes, paid in 24
equal monthly payments on the first of the month commencing January 1, 2011 and ending December 1, 2012, subject to, in all events, Section 5.6 of the Severance Agreement. In addition, with five (5) days after the closing date of
the Merger, Stockholder shall receive a lump sum amount of cash equal to $125,000 less applicable withholding taxes. 
 (c) Extended Exercise Period of Stock Options. On December 31, 2010, all of Stockholder’s options to purchase Company common stock then-outstanding (the “Stock Options”)
shall, to the extent outstanding and vested at the time of Stockholder’s termination of service, remain exercisable following Stockholder’s termination of service with the Company (or any parent or subsidiary thereof) until the maximum
expiration date of each applicable Stock Option in accordance with each Stock Option’s original terms. For the avoidance of doubt, in no event will any Stock Option remain exercisable beyond the tenth (10th) anniversary of its original date of grant. Section 2(c)
of this Agreement expressly amends Section 2.6(a) of the Severance Agreement with respect to the extended exercisability of the Stock Options. 
 (d) Adjustment of the Severance Agreement Change of Control Period. The first sentence of Section 3.1 of the Severance Agreement is expressly amended and replaced as follows: 

“In the event Executive’s employment with the Company and its subsidiaries is involuntarily terminated at any
time by the Company without Cause either (i) at the time of or within 24 months following the occurrence of a Change of Control, (ii) within twelve months prior to a Change of Control, whether or not such termination is at the request of
an Acquiror, or (iii) at any time more than twelve months prior to a Change of Control that constitutes a “change in control” within the meaning of Section 409A if such termination is at the request of an Acquiror, then such
termination of employment will be 

  
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a Termination Event and the Company shall pay Executive the compensation and benefits described in this Article III in the manner and at the time described in Section 3.3, subject to
Executive complying with his/her obligations described in Sections 5.4 and 5.5 of this Agreement.” 
 3.
Noncompetition. During the period commencing on the Effective Date and ending on December 31, 2012 (the “Non-Competition Period”), Stockholder shall not (other than in connection with any services to Buyer or any
subsidiary thereof, including, but not limited to LTX-Credence and/or the Company, or their respective successors or assigns), without the prior written consent of Buyer, directly or indirectly: 

(a) engage, anywhere in the Restricted Territory (as defined below), in any business (including research and development), operations,
activities and/or services that are related to any design, development, implementation, sale, marketing, promotion, supply, distribution or resale, in any form, of advanced test systems and solutions for the semiconductor industry, or provides the
products and services of the Company, Buyer, LTX-Credence, or any affiliates of any of the foregoing, as such exist as of the Closing Date, as such term is defined in the Merger Agreement, (a “Competing Business Purpose”). For
avoidance of doubt, a “Competing Business Purpose” shall not include any business (including research and development), operations, activities and/or services entered into by Company, Buyer, LTX-Credence, or any affiliates of any of the
foregoing after the Closing Date; 
 (b) be or become an officer, director, stockholder, owner, affiliate, co-owner, partner,
trustee, employee, agent, representative, supplier, contractor, consultant, advisor or manager of or to, or otherwise acquire or hold any interest in, or participate in or facilitate the financing, operation, management or control of, any firm,
partnership, corporation, person, entity or business that engages or participates in a Competing Business Purpose in the Restricted Territory; or 
 (c) contact, solicit or communicate with the Company’s (or its successor’s) customers in connection with a Competing Business Purpose; 
 provided, however, that nothing in this Agreement shall prevent or restrict Stockholder from any of the following: (i) owning as a passive investment less than one percent
(1%) of the outstanding shares of the capital stock of a corporation (whether public or private) that is engaged in a Competing Business and Stockholder is not otherwise associated with such corporation; (ii) performing speaking
engagements and receiving honoraria in connection with such engagements; (iii) being employed by any government agency, college, university or other non-profit research organization; (iv) owning a passive equity interest in a private debt
or equity investment fund in which the Stockholder does not have the ability to control or exercise any managerial influence over such fund; or (v) any activity consented to in a prior writing by Buyer. 

“Restricted Territory” means each and every country, province, state, city, or other political subdivision of the world
in which the Company (or its successor) or any of its subsidiaries or affiliates is currently engaged, or currently plans to engage in a Competing Business Purpose. 

  
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 4.
Nonsolicitation. Stockholder further agrees that Stockholder shall not during the period commencing on the Closing Date and ending on the twenty-four (24)-month anniversary of the Closing Date (the “Non-Solicitation Period”),
directly or indirectly, without the prior written consent of Buyer: 
 (a) personally or through others, solicit or attempt to
solicit (on Stockholder’s own behalf or on behalf of any other Person (as defined in the Merger Agreement)) any employee of the Company (or its successor), or any subsidiary of Buyer or the Company (or its successor), or their respective
successors or assigns, to leave his or her employment with the Company (or its successor), or any subsidiary of the Company or any of their respective successors or assigns; 
 (b) personally or by personally directing others, induce, attempt to induce, solicit or attempt to solicit (on Stockholder’s own behalf or on behalf of any other Person), any employee of the Company
(or its successor), or any subsidiary of the Company (or its successor) to engage in any activity in which Stockholder would, under the provisions of Section 3 hereof, be prohibited from engaging. 

Notwithstanding the foregoing, for purposes of this Agreement, the placement of general advertisements that may be targeted to a
particular geographic or technical area but that are not specifically targeted toward employees of the Company (or its successor) or any subsidiary of the Company (or its successor) or their respective successors or assigns, shall not be deemed to
be a breach of this Section 4. 
 5. Severability of Covenants. The covenants contained in
Section 3 hereof shall be construed as a series of separate covenants, one for each country, province, state, city or other political subdivision of the Restricted Territory. Except for geographic coverage, each such separate covenant
shall be deemed identical in terms to the covenant contained in Section 3 hereof. If, in any judicial proceeding, a court refuses to enforce any of such separate covenants (or any part thereof), then Buyer, the Company (or its successor)
and Stockholder agree that such unenforceable covenant (or such part) shall be eliminated from this Agreement to the extent necessary to permit the remaining separate covenants (or portions thereof) to be enforced. In the event that the provisions
of Section 3 or Section 4 are deemed to exceed the time, geographic or scope limitations permitted by applicable law, then Buyer, the Company (or its successor) and Stockholder agree that such provisions shall be reformed to
the maximum time, geographic or scope limitations, as the case may be, permitted by applicable law. 
 6. Independence of
Obligations. The covenants and obligations of Stockholder set forth in this Agreement shall be construed as independent of any other agreement or arrangement between Stockholder, on the one hand, and Buyer, the Company (or its successor) or any
subsidiary of Buyer or the Company (or its successor), on the other. 
 7. Stockholder Acknowledgement. Stockholder
acknowledges that (i) Stockholder has a substantial interest in the Company, is an officer, significant Stockholder, key employee, and a key member of the management of the Company; (ii) the goodwill associated with the existing business,
customers and assets of the Company prior to the Closing is an integral component of the value of the Company to Buyer and is reflected in the consideration payable to Stockholder in connection with the Closing, and (iii) Stockholder’s
agreement as set forth herein 

  
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is necessary to preserve the value of the Company for Buyer following the Closing. Stockholder also acknowledges that the limitations of time, geography and scope of activity agreed to in this
Agreement are reasonable because, among other things: (A) the Company (or its successor), LTX-Credence (or its successor) and Buyer are engaged in a highly competitive industry, (B) Stockholder has had unique access to the trade secrets
and know-how of the Company, including, without limitation, the plans and strategy (and, in particular, the competitive strategy) of the Company, and (C) Stockholder believes that this Agreement provides no more protection than is reasonably
necessary to protect Buyer’s legitimate interest in the goodwill, trade secrets and confidential information of the Company. 
 8. Injunctive Relief; Other Relief. The remedy at law for any breach of this Agreement is and will be inadequate, and in the event of a breach or threatened breach by Stockholder of this
Agreement, Buyer and/or the Company (or its successor), shall be entitled to an injunction restraining Stockholder from breaching or otherwise violating any provision of this Agreement. Nothing herein contained shall be construed as prohibiting
Buyer and/or the Company (or its successor) from pursuing any other remedies available to it for such breach or threatened breach, including, without limitation, the recovery of damages from Stockholder. In any event, and notwithstanding any other
provisions of this Agreement, in the event Stockholder breaches his obligations under this Agreement or under the Severance Agreement, then (i) all payments not yet made under Sections 2(a) or 2(b) hereof shall not be made and the
Company’s obligation to make such payments shall terminate, and (ii) the extended stock option exercise period set forth in section 2(c) hereof shall automatically be rescinded and become without further force and effect. Notwithstanding
the foregoing, the Company may not take the actions provided in this prior sentence unless (a) Stockholder has first been provided (i) notice of any such breach, (ii) a reasonable opportunity to cure (if such breach is curable), and
(iii) a reasonable opportunity to present to the board of directors of the Company (during which presentation Stockholder may, in his sole discretion, be accompanied by counsel), and (b) the board of directors of the Company has thereafter
in good faith determined such breach has occurred and not been satisfactorily cured. 
 9. Non-Exclusivity. The rights
and remedies of Buyer and/or the Company (or its successor) hereunder are not exclusive of or limited by any other rights or remedies that Buyer and/or the Company (or its successor) hereunder may have, whether at law, in equity, by contract or
otherwise, all of which shall be cumulative (and not alternative). Without limiting the generality of the foregoing, the rights and remedies of Buyer and/or the Company (or its successor) hereunder, and the obligations and liabilities of Stockholder
hereunder, are in addition to their respective rights, remedies, obligations and liabilities under the law of unfair competition, misappropriation of trade secrets and the like. This Agreement does not limit Stockholder’s obligations or the
rights of Buyer (or any affiliate of Buyer) and the Company (or its successor) under the terms of any other agreement between Stockholder and Buyer (or any affiliate of Buyer) and/or the Company (or its successor). 

10. Notices. All notices and other communications pursuant to this Agreement shall be in writing and deemed to be sufficient if
contained in a written instrument and shall be deemed given if delivered personally, telecopied, sent by nationally-recognized overnight courier or mailed by registered or certified mail (return receipt requested), postage prepaid, to the respective
parties at the following address: 
  

	 	(a)	if to the Company (or its successor) or HoldCo, to: 

 Verigy Ltd. 
 10100 North Tantau Avenue 

Cupertino, CA 95014 
 Attention:     General Counsel 

  
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	 	(b)	if to Stockholder, to the address for notice set forth on Stockholder’s signature page hereto, with a copy (which shall not constitute notice) to:

  

									
	 [Counsel]
	  				  			
	  
	  				  			
	  
	  				  			
	 Attention:
	  				  			
	 Telephone No.:
	  				  			

 or to such other address as any party may have furnished to the other in writing in accordance herewith, except
that notices of change of address shall only be effective upon receipt. 
 11. Severability. If any provision of this
Agreement or any part of any such provision is held under any circumstances to be invalid or unenforceable in any jurisdiction, then (a) such provision or part thereof shall, with respect to such circumstances and in such jurisdiction, be
deemed amended to conform to applicable laws so as to be valid and enforceable to the fullest possible extent, (b) the invalidity or unenforceability of such provision or part thereof under such circumstances and in such jurisdiction shall not
affect the validity or enforceability of such provision or part thereof under any other circumstances or in any other jurisdiction and (c) such invalidity of enforceability of such provision or part thereof shall not affect the validity or
enforceability of the remainder of such provision or the validity or enforceability of any other provision of this Agreement. 

12. Governing Law. This Agreement shall be construed in accordance with, and governed in all respects by, the laws of the State of
California, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. 
 13.
Attorneys’ Fees. Should any litigation, arbitration or other proceeding be commenced between the parties concerning this Agreement (including, without limitation, the enforcement hereof and the rights and duties of the parties
hereunder), the party prevailing shall be entitled, in addition to such other relief as may be granted, such party’s attorneys’ fees and expenses in connection with such litigation, arbitration or other proceeding. 

14. Acknowledgment. Stockholder acknowledges that he has had the opportunity to discuss this matter with and obtain advice from
his own attorney who is not counsel to the Company, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement. 

  
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 15. Waiver. No
failure on the part of any party to exercise any power, right, privilege or remedy under this Agreement, and no delay on the part of any party in exercising any power, right, privilege or remedy under this Agreement, shall operate as a waiver of
such power, right, privilege or remedy; and no single or partial exercise of any such power, right, privilege or remedy shall preclude any other or further exercise thereof or of any other power, right, privilege or remedy. No party shall be deemed
to have waived any claim arising out of this Agreement, or any power, right, privilege or remedy under this Agreement, unless the waiver of such claim, power, right, privilege or remedy is expressly set forth in a written instrument duly executed
and delivered on behalf of the waiving party; and any such waiver shall not be applicable or have any effect except in the specific instance in which it is given. 
 16. Captions. The captions contained in this Agreement are for convenience of reference only, shall not be deemed to be a part of this Agreement and shall not be referred to in connection with the
construction or interpretation of this Agreement. 
 17. Entire Agreement. This Agreement, and the other agreements
referred to herein, set forth the entire understanding of Stockholder and the Company (or its successor) relating to the subject matter hereof and supersedes all prior agreements and understandings between any of such parties relating to the subject
matter hereof. For the avoidance of doubt any Stockholder employment and/or severance arrangement with the Company, including, but not limited to, the Severance Agreement shall continue in full force and effect except as expressly amended hereby.

 18. Amendments. This Agreement may not be amended, modified, altered, or supplemented other than by means of a written
instrument duly executed and delivered on behalf of the Company (or its successor) and Stockholder. 
 19. Assignment.
This Agreement and all obligations hereunder are personal to Stockholder and may not be transferred or assigned by Stockholder at any time. Buyer (or any subsidiary thereof) and the Company (or any successor) may assign its rights under this
Agreement to any entity in connection with any merger or sale or transfer of all or substantially all of Buyer and/or the Company’s (or its successor’s) assets. 
 20. Binding Nature. Subject to Section 19, this Agreement will be binding upon Stockholder and Stockholder’s representatives, executors, administrators, estate, heirs, successors
and assigns, and will inure to the benefit of Buyer and/or the Company and its successors and assigns. 
 21. Counterpart
Execution. This Agreement may be executed by facsimile and in counterparts, each of which shall be deemed an original and all of which when taken together shall constitute but one and the same instrument. 

[remainder of page intentionally left blank] 

  
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 In witness whereof,
the undersigned have executed this Agreement on the dates set forth below. 
  

							
	 “STOCKHOLDER”
	 		 	By:	 	 /s/ Keith L. Barnes

		 		 	Print Name:	 	 Keith L. Barnes

		 		 	Address:	 	  

		 		 		 	  

			
		 		 	Date: November 17, 2010
			
	 “COMPANY”
	 		 	a corporation organized under the laws of Singapore
			
		 		 	 /s/ Margo M. Smith

		 		 	Margo M. Smith
		 		 	Vice President & General Counsel
			
		 		 	Date: November 17, 2010Promotion Letter - Jorge Titinger

  
 Exhibit 10.2

  

					
		  		  	 Verigy US, Inc
 10100 North
Tantau Avenue
 Cupertino
 California,
95014-2540
  
 www.Verigy.com

 

 

 November 17, 2010 
 Jorge Titinger 
 Dear Jorge: 
 Congratulations! 
 Verigy is pleased to offer you a promotion to the position of Chief
Executive Officer (“CEO”) effective January 1, 2011. As of, and contingent upon, the closing of the proposed transactions (together, the “Transaction”) pursuant to the Agreement and Plan of Merger between Verigy and
LTX-C and related parties (the “Merger Agreement”), you will hold the position of Co-CEO of the ultimate parent entity following such transactions (either HoldCo or Verigy, in either case, the “Company”). In this position, you
will report to the Board of Directors. 
 Compensation 
 To compensate you for the challenges you will be expected to conquer and the contributions you will make to the success of the Company, your Total Rewards program has been modified, effective
January 1, 2011, as follows: 
 Base Salary 
 Your base salary will be increased to $47,917.00 per month (equivalent to $575,004 per annum), subject to standard payroll deductions and withholdings. 

Non-Qualified Stock Options (NQSO) 
 On your promotion date, you will automatically receive an additional Verigy non-qualified share option grant for 18,100 ordinary shares. This option shall be divided into four tranches, each representing  1/4 of the total shares covered by the option. The
exercise price of the first tranche will be the fair market value of Verigy’s ordinary shares on the third trading day after your promotion date. The exercise prices of the second, third and fourth tranches will be the fair market value of
Verigy’s ordinary shares on the third trading day following the announcement of our quarterly financial results for the three fiscal quarters following your promotion date. The first, second, third and fourth tranches of the option grant will
become vested and exercisable in 16, 15, 14, and 13 equal quarterly installments, respectively. This option grant has been approved by the Compensation Committee of Verigy’s Board of Directors and is subject to the terms of Verigy’s 2006
Equity Incentive Plan. You will be provided with a copy of the Notice of Share Option Award detailing the terms and conditions of the option grant. 

 November 17, 2010 
 Jorge Titinger 
 Promotion Offer Letter 
  

  
 Restricted Stock Units (RSUs)

 On your promotion date, you will automatically receive a Verigy Restricted Share Unit (RSU) grant for 7,300 shares. RSUs represent a right
to receive Verigy shares after vesting, and do not require any payment by you. Your RSUs will vest quarterly on each February 15, May 15, August 15, and November 15 for a total of four years of vesting. 

Upon vesting, you may elect to hold or sell your Verigy shares. The Company will automatically withhold the number of shares required to cover your tax
withholding obligations as the RSUs vest. 
 Pay for Results 
 Your compensation package includes an increase in your target variable pay opportunity to 80% of your salary. 
 Amendment to Severance Agreement. In connection with your promotion and effective as of January 1, 2011, your First Amended and Restated Severance Agreement, dated December 18, 2008 (the
“Severance Agreement”) is hereby amended as follows: 
 Section 2.6 of the Severance Agreement is hereby amended
and restated as follows: 
  

	“2.6	Stock Award Acceleration upon Termination before Change in Control. 

 (a) Executive’s Stock Options that are outstanding as of the date of a Termination Event described in this Article II shall become fully vested upon the occurrence of such Termination Event and
exercisable so long as Executive complies with the restrictions and limitations set forth in Article V. The Stock Options shall remain exercisable until the earlier of (i) the fifteen month anniversary of the date of the Termination Event or
(ii) the expiration of each option in accordance with its original terms provided, in either case, that Executive complies with his/her obligations under Article V of this Agreement. The term “Stock Options” shall not include any
rights of Executive under the Company’s 2006 Employee Shares Purchase Plan or similar plans. 
 (b) Executive’s
Restricted Stock awards that are outstanding as of the date of a Termination Event described in this Article II shall become fully vested and free from any contractual rights of the Company to repurchase or otherwise reacquire the Restricted Stock
as a result of Executive’s termination of employment. All shares of Restricted Stock that have not yet been delivered to Executive or his/her designee (whether because subject to 

 November 17, 2010 
 Jorge Titinger 
 Promotion Offer Letter 
  

 
joint escrow instructions or otherwise) shall be promptly delivered to Executive or his/her designee upon the occurrence of a Termination Event described in this Article II. 

Executive’s Stock Units that are outstanding as of the date of a Termination Event described in this Article II shall become fully vested as a
result of Executive’s termination of employment. All Stock Units that have not yet been settled shall be promptly settled, in the form specified in the relevant Stock Unit agreements and relevant stock plans under which the Stock Units were
granted, upon the occurrence of a Termination Event described in this Article II.” 
 Your “Good Reason”
definition as defined in the Severance Agreement is hereby amended and restated as follows: 
 “Good Reason” means: (i) a
reduction of Executive’s rate of compensation as in effect on the Effective Date of this Agreement or, if a Change of Control has occurred, as in effect immediately prior to the occurrence of a Change of Control, other than reductions in Base
Salary that apply broadly to employees of Company or reductions due to varying metrics and achievement of performance goals for different periods under variable-pay programs; (ii) either (A) failure to provide a package of benefits that,
taken as a whole, provides substantially similar benefits to those in which Executive is entitled to participate as of the Effective Date (except that employee contributions may be raised to the extent of any cost increases related to such benefits
where such increases in employee contributions are broadly applicable to employees of the Company) or (B) any action by Company that would significantly and adversely affect Executive’s participation or reduce Executive’s benefits
under any of Company’s benefit plans, other than changes that apply broadly to employees of Company; (iii) a change in Executive’s duties, responsibilities, authority, job title or reporting relationships resulting in a significant
diminution of position, excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith that is remedied by Company promptly after notice thereof is given by Executive; (iv) a request that Executive relocate
to a worksite that is more than 25 miles from his/her prior worksite, unless Executive accepts such relocation opportunity; (v) a failure or refusal of a successor to the Company to assume Company’s obligations under this Agreement, as
provided in Section 9.9; (vi) a material breach by the Company or any successor to the Company of any of the material provisions of this letter or (vii) Executive’s resignation at the request of 2/3rds of the Board. For purposes
of clause (iii) of the immediately preceding sentence, Executive’s duties, responsibilities, authority, job title or reporting relationships shall be considered to be significantly diminished (and therefore shall constitute “Good
Reason”) if (1) Executive no longer performs substantially the same functional role for Company as Executive performed immediately prior to the occurrence of the Change of Control of an entity whose equity securities are

 November 17, 2010 
 Jorge Titinger 
 Promotion Offer Letter 
  

 
publicly traded, (2) the Company hires, appoints, or promotes any person other than Executive to the role of sole Chief Executive Officer, or (3) Executive’s position is changed
such that Executive no longer reports directly to the Board; provided, however, that prior to terminating your employment for Good Reason under clause (iii) of the immediately preceding sentence solely as a result of the entity for which
Executive is providing services not being an entity whose securities are publicly traded, Executive shall notify the successor entity of his/her intention to so terminate his/her employment and shall provide the successor entity with a reasonable
period of time, not to exceed 90 days, to negotiate terms of employment which meet Executive’s requirements. If, at the end of the notice and negotiation period, the parties are unable to arrive at mutually satisfactory terms and conditions of
employment, then Executive may exercise his/her right to termination for Good Reason as a result of no longer serving in a comparable role with a company whose securities are publicly traded.” 

No Good Reason. By signing this letter, you confirm and agree that your change in title from President and Chief Operating Officer of Verigy to
CEO of Verigy on January 1, 2011 and then to Co-CEO of the Company following the closing of the Transaction pursuant to this letter and any related change in duties, responsibilities, authority or reporting relationship that are commensurate
with your then current position do not and will not constitute “Good Reason” within the meaning of the Severance Agreement, any similar agreement or any agreement or plan governing any stock option, restricted stock, restricted stock unit
or other equity award granted to you. 
 This letter, along with your Severance Agreement (as amended hereby) and any confidentiality and/or
invention assignment agreement with Verigy or the Company (or any predecessor), represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether
written or oral. Except as amended hereby, your Severance Agreement will continue in full force and effect. 

 November 17, 2010 
 Jorge Titinger 
 Promotion Offer Letter 
  

  
 We hope that you are pleased with
this change and wish you continued success at Verigy. Please acknowledge your acceptance of this promotion by signing this letter and returning it to me. 
  

	
	Sincerely,
	
	 /s/ Keith Barnes

	Keith Barnes
	Chairman of the Board

 Acceptance &
Acknowledgment: 
 I agree to and accept continued employment with Verigy and/or the Company, as applicable, on the terms and conditions set
forth in this letter. 
  

					
	Accepted:	 		 	Date:
			
	 /s/ Jorge Titinger
	 		 	November 17, 2010
	Jorge Titinger	 		 	

  

	cc:	Personnel File

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