Document:

Employment Agreement

 Exhibit 10.01 
 April 4, 2008 
 Mr. David B. Bell 
 EMPLOYMENT AGREEMENT 
 Dear Dave: 
 Intersil Corporation (“Intersil” or the “Company”) is pleased to offer you employment as the President and Chief Executive Officer of Intersil on the terms set forth below. This agreement (the
“Employment Agreement”) completely supersedes and replaces that certain employment agreement by and between you and Intersil dated March 23, 2007 (the “Prior Agreement”), effective as of March 15, 2008 (the
“Effective Date”). 
 1.1 Positions; Term. 
 (a) You will continue to be employed by Intersil as its President and Chief Executive Officer until March 15, 2010, unless sooner terminated
in accordance with Section 6 hereof (the “Initial Term”). The Initial Term will be automatically extended for successive one year periods beginning March 15, 2010 unless either party gives six (6) months prior written notice
of non-renewal to the other party, or unless your employment is otherwise terminated (the Initial Term and any such extensions being your “Term of Employment”). 
 (b) During the Term of Employment, you will have overall responsibility for the management of Intersil and will report directly to the Board of Directors of Intersil (the “Board”). During your Term of
Employment, you will also be nominated for election to the Board. You will be expected to devote your full working time and attention to the business of Intersil and its subsidiaries, and you will not render services to any other business without
the prior approval of the Board or, directly or indirectly, engage or participate in any business that is competitive in any manner with the business of Intersil or its subsidiaries. You will also be expected to comply with and be bound by
Intersil’s operating policies, procedures and practices that are from time to time in effect during your Term of Employment. Your principal location of employment will be at Intersil’s offices in Milpitas, California. 
 1.2 Base Salary. During the Term of Employment, your initial base salary will be $575,000 per year, payable in accordance with
Intersil’s normal payroll practices with such payroll deductions and withholdings as are required by law. During your Term of Employment, your base salary will be reviewed on an annual basis by the Compensation Committee of the Board and may be
increased from time to time, in the sole discretion of the Compensation Committee, but in no event shall your base salary be reduced below the initial salary amount set forth herein. Your base salary as adjusted shall be referred to herein as your
“Base Salary.” 
 1.3 Bonus. You will be eligible to receive a target annual bonus of up to $575,000, to be
determined on an annual basis by and at the sole discretion of the Compensation Committee (the “Target Bonus”). 
 1.4
Equity Compensation. 
 (a) Stock Options. Pursuant to a separate award agreement, and subject to the terms of
Intersil’s 1999 Equity Compensation Plan, as amended and restated (the “Stock Plan”) except as specifically provided hereunder, the Compensation Committee of the Board shall grant you on April 1, 2008 (the “Initial Grant
Date”) an option to purchase 180,000 shares of the Class A Common Stock of Intersil (“Common Stock”) at an exercise price equal to the closing price of the Common Stock as quoted on the NASDAQ on the Initial Grant Date (the
“Initial Option”). The Initial Option will vest 25% at the first anniversary of the Grant Date and 6.25% quarterly thereafter over the following three years, contingent on continued employment throughout each vesting date. The Initial
Option will expire seven years after the Initial Grant Date. Provided you are employed by the Company on the next annual grant date, in calendar year 2009, you will be eligible for another option grant to purchase additional shares of Intersil
Class A Common Stock as determined by the Compensation Committee. 
  

					
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 (b) Deferred Stock Units. Subject to the terms of the Stock Plan and the applicable award
agreement thereunder, the Compensation Committee may from time to time grant executives deferred stock units (“DSUs”) or performance-based deferred stock units under which the ultimate number of DSUs earned depends on a measure of Company
performance established by the Compensation Committee at the time of the initial DSU grant (“PDSUs”). You will be granted 40,000 PDSUs (the “Performance Shares”) on April 1, 2008 (the “Performance Shares Grant
Date”), the number of Performance Shares ultimately earned being subject to upward adjustment (up to 150% of the total number of Performance Shares initially granted) or downward adjustment (down to no Performance Shares) in view of
Intersil’s financial performance relative to its peer group (as determined by the Compensation Committee) over a three-year performance period ending December 31, 2010. For purposes of the Performance Shares, the measure of Company
performance will be Intersil’s financial performance relative to its peer group as determined by the Compensation Committee based upon Intersil’s revenue growth and Intersil’s growth in operating income relative to its peer group. The
number of Performance Shares ultimately earned shall be determined by the Compensation Committee at the end of the three-year performance period, and the award, if any, shall become vested on the third anniversary of the Performance Shares Grant
Date. No payment of Performance Shares will be made to you in the event of a Voluntary Termination or Termination for Cause before the third anniversary of the Performance Shares Grant Date. Provided that your employment has not terminated, you will
be eligible to receive another grant of PDSUs in 2009. 
 1.5 Other Benefits. You will be eligible for 4-weeks vacation per
year, health insurance, 401(k), employee stock purchase plan, financial planning, executive physical and other benefits offered to all Intersil senior executives. 
 1.6 Employment and Termination. Your employment with Intersil may be terminated by you or by Intersil at any time for any reason as follows: 
 (a) You may terminate your employment upon written notice to the Board at any time in your discretion without reason (“Voluntary
Termination”); provided that you give Intersil 60 days written notice. The Board in its sole discretion may waive the 60-day notice provision and in such event your Voluntary Termination shall be effective on an earlier date determined by the
Board. 
 (b) During the Term of Employment, you may terminate your employment upon written notice to the Board at any time in your
discretion because of (i) any material and substantial diminution of your duties and authorities (other than a diminution agreed to by you, including under Section 1(b)), (ii) a demotion from the office of Chief Executive Officer
and/or President (other than a change in office or title agreed to by you, including under Section 1(b)), (iii) removal from your position as a Director of Intersil (other than for a reason that would constitute a Termination for Cause as
set forth below), or (iv) any failure by Intersil to comply with the terms of this Employment Agreement, which failure is not cured within 30 days from the date you send written notice to Intersil of such non-compliance (“Involuntary
Termination”). 
 (c) Intersil may terminate your employment upon written notice to you at any time following a determination by
the Board that there is “Cause” for such termination (“Termination for Cause”). “Cause” means (i) your conviction of a felony which constitutes a crime involving moral turpitude and results in material harm to
Intersil or any of its affiliates; (ii) a judicial determination that you have committed fraud, misappropriation or embezzlement against Intersil or any affiliate thereof; or (iii) your willful or gross and repeated misconduct in the
performance of your duties in each instance so as to cause material harm to Intersil or any of its affiliates; which is not cured within 30 days from the date Intersil sends you written notice of such willful or gross and repeated misconduct.

 (d) Intersil may terminate your employment upon written notice to you at any time in the sole discretion of the Board without a
determination that there is Cause for such termination (“Termination without Cause”); and 
  

					
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 (e) Your employment will automatically terminate upon your death or upon your disability as
determined by the Board (“Termination for Death or Disability”); provided that “disability” shall mean your complete inability to perform your job responsibilities for a period of 180 consecutive days or 180 days in the aggregate
in any 12 month period. 
 In no event shall the expiration of the Term of Employment (giving effect to any extensions thereof), by virtue of either
party’s having given notice of non-renewal pursuant to Section 1(a) hereof, constitute Termination without Cause, an Involuntary Termination or Termination for Death or Disability; provided, however, that in the event Intersil gives you
written notice of its intention not to renew the Term of Employment and you remain employed with Intersil through the expiration of the Term of Employment, upon the expiration of the Term of Employment (a) your unvested options and DSUs shall
fully vest, and (b) your unvested PDSUs shall become fully vested with the number of shares payable to you under a particular PDSU grant being determined using Intersil’s financial performance relative to its peer group (or such other
measure of Company performance that may be specified by the Compensation Committee for a particular PDSU grant) as measured for the period beginning on January 1 of the calendar year in which such PDSU was granted and ending on the last day of
the fiscal quarter immediately preceding the date on which the Term of Employment expires. 
 If requested by Intersil, you shall resign your position as a
Director of the Company upon any termination of your employment or expiration of your Term of Employment with Intersil. 
 1.7
Separation Benefits. Upon termination of your employment with Intersil for any reason during the Term of Employment, you will receive payment for all unpaid salary and vacation accrued to the date of your termination of employment; and
your benefits will be continued under Intersil’s then existing benefit plans and policies for so long as provided under the terms of such plans and policies and as required by applicable law. Subject to your compliance with Sections 9 and 10,
under certain circumstances, you will also be entitled to receive severance benefits as set forth below, but you will not be entitled to any other compensation, award or damages with respect to your employment or termination (except to the extent
you are entitled to benefits under your Executive Change in Control Severance Benefits Agreement with Intersil dated as of even date herewith, as amended (the “Severance Benefits Agreement”), in lieu of any benefits provided below, in the
event of a Covered Termination (as defined in the Severance Benefits Agreement)). 
 (a) In the event of your Voluntary Termination or
Termination for Cause during the Term of Employment, you will not be entitled to any cash severance benefits, additional vesting of shares of restricted stock, DSUs, options or other equity compensation or post-termination death or medical benefits
as described in Section 7(b). 
 (b) Subject to your compliance with Sections 9 and 10, in the event of your Involuntary
Termination or Termination without Cause during the Term of Employment, you will be: (i) entitled to continuance of your Base Salary for a period of two years (less applicable deductions and withholdings) payable in accordance with
Intersil’s normal payroll practices; (ii) entitled to a payment of $287,500 within 30 days of the first two March 1 and September 1 following your termination of employment, each such payment being adjusted to an amount equal to
$287,500 multiplied by the fraction whose numerator is the annual target bonus for the year in which the Covered Termination takes place and whose denominator is $575,000 in the event that Executive’s annual target bonus for the year in which
the Covered Termination takes place differs from $575,000 per year; (iii) with respect to your stock options and DSUs, entitled to acceleration of vesting in an amount equal to the amount that would have vested over the eighteen (18) month
period commencing on the date of your termination (but in no event shall any such award be less than 50% vested upon an Involuntary Termination or Termination without Cause), such awards being exercisable in accordance with the terms of such grants,
(iv) with respect to PDSUs, entitled to vesting of a pro-rated number of unvested PDSUs with the number of shares payable to you with respect to a particular PDSU grant being determined using Intersil’s financial performance relative to
its peer group (or such other measure of Company performance that may be specified by the Compensation Committee for a particular PDSU grant) as measured for the period beginning January 1 of the calendar year in which such PDSU was granted and
ending on the last day of the fiscal quarter immediately preceding the date on which your Involuntary Termination or Termination without Cause occurred (prorated based on the number of days that have passed from the date the PDSUs were granted to
you until the date of your Involuntary Termination or Termination for Cause (not to exceed 

  

					
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1095 days) divided by the entire performance period (i.e., 1,095 days for a three-year period)); (v) eligible to convert your and your covered
dependents' life insurance coverage to individual policies and Intersil shall reimburse you for the applicable premium(s) paid by you with respect to such policies until the earlier of (i) the date on which your Employment Term ends and
(ii) the one year anniversary of your termination date; (vi) if you qualify, eligible to participate, along with your spouse, in the retiree medical plan maintained by Intersil in which employees participate (the “Retiree Medical
Plan”) upon your termination (in accordance with its terms upon your termination) and Intersil will make the full payment of the premiums for coverage of you and your spouse under the Retiree Medical Plan; provided, however, that if the Retiree
Medical Plan is terminated with respect to all other employees of Intersil after your termination of employment hereunder, you shall no longer be provided coverage under the Retiree Medical Plan; and provided, further, however, that Intersil shall
cease paying your premiums under the Retiree Medical Plan when you become eligible for Medicare or become covered under another employer’s medical plan. You agree to immediately notify Intersil if you become eligible for Medicare or covered by
another employer’s medical plan. You will not be reimbursed for the income or employment taxes payable due to the payment of your premiums due under the Retiree Medical Plan or your continuation of life insurance coverage; and
(vii) eligible to continue, at Intersil’s expense on a tax-neutral basis, your medical benefits providing for coverage or payment in the event of your (or your covered dependents’) illness or injury that were provided to you, whether
taxable or non-taxable and whether funded through insurance or otherwise under any benefits plan or program maintained by Intersil on the same terms and conditions as in effect immediately prior to your termination for a period of one (1) year
following your termination, if you do not quality to participate in Intersil’s Retiree Medical Plan. 
 (c) Subject to your
compliance with Sections 9 and 10, in the event of your Termination for Death or Disability, you (or your beneficiary, as applicable) will be: (i) entitled to a single lump sum severance payment equal 12 months of your Base Salary payable
within 30 days after the date of your Termination for Death or Disability; (ii) entitled to a pro-rata portion (based on the number of days you were employed by Intersil during the calendar year of your Termination for Death or Disability
occurs divided by 365) of a payment of $575,000 payable within 30 days following your Termination for Death or Disability; (iii) immediately credited with additional vesting service credit for the twelve-month period commencing on the date of
your Termination for Death or Disability with respect to all your stock options and DSUs and (iv) with respect to PDSUs, entitled to vesting of a pro-rated number of unvested PDSUs with the number of shares payable to you with respect to a
particular PDSU grant being determined using Intersil’s financial performance relative to its peer group (or such other measure of Company performance that may be specified by the Compensation Committee for a particular PDSU grant) as measured
for the period beginning on January 1 of the calendar year in which such PDSU was granted and ending on the last day of the fiscal quarter immediately preceding the date on which your Termination for Death or Disability occurred (prorated based
on the number of days that have passed from the date the PDSUs were granted to you until the date of your Termination for Death or Disability (not to exceed 1095 days) divided by the entire performance period (i.e., 1,095 days for a three-year
period)). Following your Termination for Death or Disability, the exercise period with respect to your stock options, will be equal to the lesser of twelve months or the remaining term of the applicable stock option. 
 (d) If any payments due under this Section 7 or otherwise would subject you to any penalty tax imposed under Section 409A of the Code if
such payments were made as required above, then the payments that cause the imposition of such penalty tax shall be payable in one lump sum on the first day which is at least six months after the date of your separation of service as set forth in
Section 409A of the Code and the regulations and other official guidance thereunder. 
 (e) If all or any portion of the amounts
payable or benefits provided to you under this Employment Agreement or otherwise are “excess parachute payments” and are subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), and if the net
after-tax amount (taking into account all applicable taxes payable by you, including without limitation any Excise Tax) that you would receive with respect to such payments or benefits does not exceed the net after-tax amount you would receive if
the amount of such payments and benefits were reduced to the maximum amount which could otherwise be payable to you without the imposition of the Excise Tax, then, only the extent necessary to eliminate the imposition of the Excise Tax, such
payments and benefits shall be reduced, in the order and of the type mutually agreed to by you and Intersil. The calculations required under this Section 7(e) shall be prepared by Intersil and reviewed for accuracy by you and Intersil’s
regular certified public accountants. 
  

					
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 (f) Subject to Section 7(e), no payments due you hereunder shall be subject to mitigation or
offset. 
 Any reimbursement or payment of premiums or other costs by Intersil pursuant to this Section shall be made no later than the end of the calendar
year following the calendar year in which the applicable premium or other cost is incurred by you. 
 1.8 Employee Agreement and
Release Prior to Receipt of Benefits. Upon the occurrence of a termination under Section 7(b) or 7(c) of this Agreement (“Covered Termination”), and prior to the receipt of any benefits under this Agreement on account of the
occurrence of a Covered Termination, you will, as of the date of a Covered Termination, execute an employee agreement and release in the form attached hereto as Exhibit A, provided that such agreement and release have become binding and
effective in accordance with the terms thereof on or before the forty-fifth (45th) day following the date of your termination of employment. Such employee agreement and release shall specifically relate to all of your rights and claims in
existence at the time of such execution and shall confirm your obligations under any proprietary information agreement with Intersil. It is understood that such employee release and agreement shall comply with applicable law. In the event you do not
execute such release and agreement within the period required by applicable law, or if you revoke such employee agreement and release within the period permitted by applicable law, no benefits shall be payable under this Agreement. 
 1.9 Proprietary Information Agreement. You also confirm your obligations under the “Employee Agreement” that you entered into
with Intersil in March 2007, which includes certain inventions, intellectual property and confidentiality covenants. 
 1.10
Non-compete/Non-solicitation. 
 (a) During your Term of Employment and for two years thereafter and as a condition of
Intersil’s obligation to pay you any amounts or benefits under Section 7, you will not engage in any activity which is directly competitive with the business of Intersil or its subsidiaries and you will not, on behalf of yourself or any
third party, solicit or attempt to induce any employee of Intersil or its subsidiaries to terminate his or her employment with Intersil or its subsidiaries. The non-compete covenant in the preceding sentence shall apply in the geographic areas of:
(i) the counties of Santa Clara, San Mateo, San Diego, Orange and San Francisco counties of California; (ii) California; (iii) the United States of America; and (iv) the world. 
 (b) If the provisions of this Section 10 should ever be adjudicated to exceed any maximum time, geographic, service or other limitations
permitted by applicable law in any jurisdiction, then such provisions shall be deemed reformed in such jurisdiction to the maximum limitations permitted by applicable law. You acknowledge that the provisions of this Section 10 are, in view of
the nature of the business of Intersil and its subsidiaries, reasonable and necessary to protect the legitimate interests of Intersil and its subsidiaries and that any violation of this Section 10 may result in irreparable injury to Intersil or
its subsidiaries entitling Intersil to temporary or permanent injunctive relief, without the necessity of proving actual damages, which rights shall be cumulative with and in addition to any other rights or remedies to which Intersil may be entitled
hereunder or at law or in equity. 
 1.11 Arbitration. The parties agree that any dispute regarding the interpretation or
enforcement of this Employment Agreement shall be decided by confidential, final and binding arbitration conducted by Judicial Arbitration and Mediation Services (“JAMS”) under the then existing JAMS rules rather than by litigation in
court, trial by jury, administrative proceeding or in any other forum. 
 1.12 Miscellaneous. 
 (a) Authority to Enter into Agreement. Intersil represents that it is has duly authorized the execution and delivery of this Employment
Agreement on behalf of Intersil. 
  

					
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 (b) Absence of Conflicts. You represent that upon the Effective Date, your performance of
your duties under this Employment Agreement will not breach any other agreement as to which you are a party. 
 (c) Attorneys’
Fees. If a legal action or other proceeding is brought for enforcement of this Employment Agreement because of an alleged dispute, breach, default, or misrepresentation in connection with any of the provisions of this Employment Agreement, the
successful or prevailing party shall be entitled to recover reasonable attorneys’ fees and costs incurred, both before and after judgment, in addition to any other relief to which they may be entitled. Any reimbursements made by Intersil to you
pursuant to this Section shall be made no later than the end of the calendar year following the calendar year in which the related cost is incurred by you. 
 (d) Taxes. Intersil may withhold from any amounts payable under this Agreement such federal, state or local income taxes to the extent the same required to be withheld pursuant to any applicable law or
regulation. You acknowledge that you are responsible for the payment of any income taxes due to payments hereunder or otherwise from Intersil. 
 (e) Successors. This Employment Agreement is binding on and may be enforced by Intersil and its successors and assigns and is binding on and may be enforced by you and your heirs and legal representatives. Any successor to
Intersil or substantially all of its business (whether by purchase, merger, consolidation or otherwise) will in advance assume in writing and be bound by all of Intersil’s obligations under this Employment Agreement. 
 (f) Notices. Notices under this Employment Agreement must be in writing and will be deemed to have been given when personally delivered or
two days after mailed by U.S. registered or certified mail, return receipt requested and postage prepaid. Mailed notices to you will be addressed to you at the home address which you have most recently communicated to Intersil in writing. Notices to
Intersil will be addressed to its General Counsel at Intersil’s corporate headquarters. 
 (g) Waiver. No provision of
this Employment Agreement will be modified or waived except in writing signed by you and an officer of Intersil duly authorized by the Board. No waiver by either party of any breach of this Employment Agreement by the other party will be considered
a waiver of any other breach of this Employment Agreement. 
 (h) Entire Agreement. This Employment Agreement, including such
other agreements expressly referred to herein and including the applicable stock option plans, option agreements and related documents with respect to your equity grants, and your Severance Benefits Agreement, as amended, represent the entire
agreement between us concerning the subject matter of your employment by Intersil, and expressly supersede all other promises or understandings, oral or written, including without limitation the Prior Agreement. 
 (i) Governing Law. This Employment Agreement will be governed by the laws of the State of California without reference to conflict of laws
provisions. 
 (j) Severability. If any portion of this Employment Agreement shall be determined to be unenforceable, the
remaining provisions of this Employment Agreement shall remain in force. 
  

					
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 Dave, we very much look forward to your continuing with Intersil performing the duties described in this
Agreement. Please indicate your acceptance of the terms of this Employment Agreement by signing in the place indicated below. 
  

			
	 Sincerely,

	
	 INTERSIL CORPORATION

		
	 By:
	 	 /s/ Vern Kelley

	 Name:
	 	Vern Kelley
	 Title:
	 	Vice President, Human Resources

  

	
	 Acknowledged and Agreed:

	
	 /s/ David B. Bell

	 David B. Bell

  

					
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 Exhibit A 
 Intersil Corporation 
 Employee Agreement and Release 
 I understand and agree completely to the terms set forth in the foregoing agreement. 
 I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not
extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected this settlement with the debtor.” I hereby expressly waive and
relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims I may have against the Company. 
 Except as otherwise set forth in this Agreement, I hereby release, acquit and forever discharge the Company, its parents and subsidiaries, and their
officers, directors, agents, servants, employees, shareholders, successors, assigns and affiliates, of and from any and all claims, liabilities, demands, causes of action, costs, expenses, attorneys fees, damages, indemnities and obligations of
every kind and nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed (other than any claim for indemnification I may have as a result of any third party action against me based on my employment
with the Company), arising out of or in any way related to agreements, events, acts or conduct at any time prior to and including the Effective Date of this Agreement, including but not limited to: all such claims and demands directly or indirectly
arising out of or in any way connected with my employment with the Company or the termination of that employment, including but not limited to, claims of intentional and negligent infliction of emotional distress, any and all tort claims for
personal injury, claims or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of
compensation; claims pursuant to any federal, state or local law or cause of action including, but not limited to, the federal Civil Rights Act of 1964, as amended; the federal Age Discrimination in Employment Act of 1967, as amended
(“ADEA”); the federal American with Disabilities Act of 1990; the California Fair Employment and Housing Act, as amended; tort law; contract law; wrongful discharge; discrimination; fraud; defamation; emotional distress; and breach of the
implied covenant of good faith and fair dealing; provided, however, that nothing in this paragraph shall be construed in any way to release the Company from its obligation to indemnify you pursuant to the Company’s Indemnification Agreement and
to provide you with continued coverage under the Company’s directors and officers liability insurance policy to the same extent that it has provided such coverage to previously departed officers and directors of the Company. 
 I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under ADEA. I also acknowledge that the consideration given
for the waiver and release in the preceding paragraph hereof is in addition to anything of value which I was already entitled. I further acknowledge that I have been advised by this writing, as required by the ADEA, that: (a) my waiver and
release do not apply to any rights or claims that may arise after the Effective Date of this Agreement; (b) I have the right to consult with an attorney prior to executing this Agreement; (c) I have twenty-one (21) days to consider
this Agreement (although I may choose to voluntarily execute this Agreement earlier); (d) I have seven (7) days following the execution of this Agreement by the parties to revoke the Agreement; and (e) this Agreement shall not be
effective until the date upon which the revocation period has expired, which shall be the eighth day after this Agreement is executed by me, provided that the Company has also executed this Agreement by that date. 
  

							
		 		 	INTERSIL CORPORATION
				
	 /s/ David B. Bell
	 		 	By:	 	 /s/ Vern Kelley

	 DAVID B. BELL
	 		 	Title:	 	Vice President, Human Resources
	 Dated: April 4, 2008
	 		 	Dated:	 	April 4, 2008

  

					
		 	Page 34 of 46Executive Change in Control Severance Benefits Agreement

 Exhibit 10.02  
 EXECUTIVE 
 CHANGE IN CONTROL 
 SEVERANCE BENEFITS AGREEMENT 
 THIS EXECUTIVE CHANGE IN CONTROL SEVERANCE
BENEFITS AGREEMENT (the “AGREEMENT”) is entered into on April 4, 2008, between David B. Bell (“Executive”) and INTERSIL CORPORATION, a Delaware corporation (the “COMPANY”). 
 WHEREAS, this Agreement is intended to provide Executive with the compensation and benefits described herein upon the occurrence of specific
events after the date hereof. 
 NOW THEREFORE, The Company and Executive hereby agree as follows: 
 Certain capitalized terms used in this Agreement are defined in Article VI. 
 ARTICLE I 
 EMPLOYMENT BY THE COMPANY 
 1.1 Executive is currently employed as an executive of the Company. 
 1.2 This Agreement shall remain in full force and effect so long as Executive is employed
by the Company or its subsidiaries; provided, however, that the rights and obligations of the parties hereto contained in Articles II through VII shall survive Two and One Half (2- 1/2) years following a Covered Termination (as hereinafter defined). 
 1.3
The Company and Executive wish to set forth the compensation and benefits which Executive shall be entitled to receive if Executive’s employment with the Company terminates following a Change in Control under the circumstances described in
Article II of this Agreement. 
 1.4 The duties and obligations of the Company to Executive under this Agreement shall be in
consideration for Executive's continued employment with the Company and, in the event a Covered Termination occurs, Executive's execution of the general waiver and release described in Section 3.2. 
 ARTICLE II 
 SEVERANCE BENEFIT 

 2.1 Entitlement to Severance Benefits. If Executive’s employment terminates due to an Involuntary Termination or a Voluntary
Termination for Good Reason (as hereinafter defined) within twelve (12) months following the effective date of a Change in Control, the termination of employment will be a Covered Termination and the Company shall pay Executive the compensation
and benefits described in this Article II. If Executive’s employment terminates, but not due to an Involuntary Termination or a Voluntary Termination for Good Reason within twelve (12) months following the effective date of a Change in
Control, then the termination of employment will not be a Covered Termination and Executive will not be entitled to receive any payments or benefits under this Article II. 
 Payment of any benefits described in this Article II shall be subject to the restrictions and limitations set forth in Article III of this Agreement.

 2.2 Severance Payments. The Company shall continue to pay the Executive’s Annual Base Pay for two (2) years (the
“Severance Period”). In addition, the Company shall make payments to the Executive of $287,500 within 30 days of the first two March 1 and September 1 following the termination of employment. In the event that
Executive’s annual target bonus for the year in which the Covered Termination takes place differs from $575,000 per year, each such payment shall be adjusted to an amount equal to $287,500 multiplied by the fraction 

  

					
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whose numerator is the annual target bonus for the year in which the Covered Termination takes place and whose denominator is $575,000. All payments made
pursuant to this Section 2.2 shall be made less applicable deductions and withholdings and are payable in accordance with Intersil’s normal payroll practices immediately prior to the Covered Termination. 
 2.3 Welfare Benefits. Following a Covered Termination, Executive and his covered dependents will be eligible to convert his and his covered
dependents' life insurance coverage to individual policies and the Company shall reimburse the Executive for the applicable premium(s) on a tax-neutral basis during the Severance Period. Following a Covered Termination, Executive and his covered
dependents will either be qualified to participate in the retiree medical plan maintained by the Company (the “Retiree Medical Plan”) or will be reimbursed on a tax-neutral basis for the applicable premium(s) during the Severance Period
for continuation coverage under the Company’s health insurance plans for the maximum coverage period under such plans. If the Executive qualifies to participate in the Retiree Medical Plan, upon his Covered Termination, the Executive and his
spouse will be eligible to participate in the Retiree Medical Plan and the Company will make the full payment of the premiums for coverage of the Executive and his spouse under the Retiree Medical Plan; provided, however, that if the Retiree Medical
Plan is terminated with respect to all other employees of Intersil after his termination of employment hereunder, the Executive shall no longer be provided coverage under the Retiree Medical Plan; and provided, further, however, that the Company
shall cease paying his premiums under the Retiree Medical Plan when the Executive becomes eligible for Medicare or becomes covered under another employer’s medical plan. The Executive agrees to immediately notify the Company if he becomes
eligible for Medicare or covered by another employer’s medical plan. The Executive will not be reimbursed for the income or employment taxes payable due to the payment of the Executive’s premiums due under the Retiree Medical Plan. Any
reimbursement or payment of premiums or other costs by the Company pursuant to this Section shall be made no later than the end of the calendar year following the calendar year in which the applicable premium or other cost is incurred by the
Executive 
 2.4 Mitigation. Except as otherwise specifically provided herein, Executive shall not be required to mitigate damages or
the amount of any payment provided under this Agreement by seeking other employment or otherwise, nor shall the amount of any payment provided for under this Agreement be reduced by any compensation earned by Executive as a result of employment by
another employer or by retirement benefits after the date of the Covered Termination, or otherwise. 
 ARTICLE III 
 LIMITATIONS AND CONDITIONS ON BENEFITS 
 3.1 Withholding of Taxes. The Company shall withhold appropriate federal, state or local income and employment taxes from any payments hereunder. 
 3.2 Employee Agreement and Release Prior to receipt of Benefits. Upon the occurrence of a Covered Termination, and prior to the receipt of any benefits under this Agreement on account of the occurrence of a
Covered Termination, Executive shall, as of the date of a Covered Termination, execute an employee agreement and release in the form attached hereto as Exhibit A; provided that such agreement and release have become binding and effective in
accordance with the terms thereof on or before the forty-fifth (45th) day following the date of the Executive's termination of employment. Such employee agreement and release shall specifically relate to all of Executive’s rights and
claims in existence at the time of such execution and shall confirm Executive’s obligations under the Company’s standard form of proprietary information agreement. It is understood such employee release and agreement shall comply with
applicable law. In the event Executive does not execute such release and agreement within the period required by applicable law, or if Executive revokes such employee agreement and release within the period permitted by applicable law, no benefits
shall be payable under this Agreement and this Agreement shall be null and void. 
 ARTICLE IV 
 OTHER RIGHTS AND BENEFITS 
 4.1
Non-exclusivity. Nothing in this Agreement shall prevent or limit Executive’s continuing or future participation in any benefit, bonus, incentive or other plans, programs, policies or practices provided by the Company and for which
Executive may otherwise qualify, nor shall anything herein limit or otherwise affect such 

  

					
		 	Page 36 of 46	 	

 
rights as Executive may have under any stock option or other agreements with the Company. Except as otherwise expressly provided herein, amounts which are
vested benefits or which Executive is otherwise entitled to receive under any plan, policy, practice or program of the Company at or subsequent to the date of a Covered Termination shall be payable in accordance with such plan, policy, practice or
program. 
 4.2 Parachute Payments. If all or any portion of the amounts payable or benefits provided to the Executive under this
Agreement or otherwise are ‘excess parachute payments’ and are subject to the excise tax imposed by Section 4999 of the Code (the ‘Excise Tax’), and if the net after-tax amount (taking into account all applicable taxes
payable by the Executive, including without limitation any Excise Tax) that the Executive would receive with respect to such payments or benefits does not exceed the net after-tax amount the Executive would receive if the amount of such payments and
benefits were reduced to the maximum amount which could otherwise be payable to the Executive without the imposition of the Excise Tax, then, only the extent necessary to eliminate the imposition of the Excise Tax, such payments and benefits shall
be reduced, in the order and of the type mutually agreed to by the Executive and the Company, except that in all cases the cash payments shall be reduced first. The calculations required under this Section 4.2 shall be prepared by the Company
and reviewed for accuracy by the Executive and the Company’s regular certified public accountants. 
 4.3 Stock Options, Deferred
Stock Units and Restricted Stock. In the event of a Covered Termination, all stock options, deferred stock units, and restricted stock granted to Executive by the Company during the Executive’s employment with the Company
(i) shall immediately become fully vested (and with respect to the stock options, fully exercisable), and if any such award is subject to performance criteria, then such award shall fully vest in the amount such award would have vested at the
performance level achieved through the date of such Covered Termination for such award, if applicable, and (ii) Executive shall have (A) twelve (12) months following a Covered Termination (or the remaining term of the applicable
option grant if shorter than 12 months) to exercise any stock options which were converted from Elantec options or awards granted on or after January 1, 2006, and (B) shall have twenty-four (24) months following a Covered Termination
(or the remaining term of the applicable option grant if short than 24 months) to exercise any awards not described in 4.3(ii)(A). If applicable, the Company shall only amend all such stock option, deferred stock units or restricted stock grants in
a manner that will not adversely affect Executive’s financial position and that does not subject Executive to liability under Section 16(b) of the Securities Exchange Act of 1934, as amended. 
 ARTICLE V 
 NON-ALIENATION OF
BENEFITS 
 No benefit hereunder shall be subject to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance or charge,
and any attempt to so subject a benefit hereunder shall be void. 
 ARTICLE VI 
 DEFINITIONS 
 For purposes of the Agreement, the following terms shall have the
meanings set forth below: 
 6.1 “Agreement” means this Executive Change in Control Severance Benefits Agreement. 

6.2 “Annual Base Pay” means Executive’s annual base pay at the rate in effect during the last regularly scheduled payroll period
immediately preceding (i) the Change in Control or (ii) the Covered Termination, whichever is greater. 
 6.3 “Annual
Bonus” means the Executive’s projected or estimated annual cash incentive bonus at target for the fiscal year of the Company in which termination of Executive’s employment occurs. 
 6.4 “Change in Control” means the consummation of any of the following transactions after the date hereof: 
 (a) the stockholders of the Company approve a merger or consolidation of the Company with any other corporation, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) at least
fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation, or the stockholders of the Company approve a plan of
liquidation or dissolution of the Company or an agreement for the sale, lease, exchange or other transfer or disposition by the Company of all or substantially all (more than fifty percent (50%)) of the Company’s assets; 
  

					
		 	Page 37 of 46	 	

 (b) any person (as such term is used in Sections 13(d) of the Securities Exchange Act of 1934, as
amended (the “Exchange Act”)), is or becomes the beneficial owner (within the meaning of Rule 13d-3 under the Exchange Act) directly or indirectly of 25% or more of the Company’s outstanding Common Stock; or 
 (c) a change in the composition of the Board of Directors of the Company within a three (3) year period, as a result of which fewer than a
majority of the directors are Incumbent Directors. “Incumbent Directors” shall mean directors who either: 
 (A) are
directors of the Company as of the date hereof; 
 (B) are elected, or nominated for election, to the Board of Directors of the
Company with the affirmative votes of at least a majority of the directors of the Company who are Incumbent Directors described in (A) above at the time of such election or nomination; or 
 (C) are elected, or nominated for election, to the Board of Directors of the Company with the affirmative votes of at least a majority of the
directors of the Company who are Incumbent Directors described in (A) or (B) above at the time of such election or nomination. 
 Notwithstanding the foregoing, “Incumbent Directors” shall not include an individual whose election or nomination is in connection with an actual or threatened proxy contest relating to the election of directors to the Company.

 6.5 “Company” means Intersil Corporation, a Delaware corporation, and any successor thereto. 
 6.6 “Covered Termination” means an Involuntary Termination or a Voluntary Termination for Good Reason within twelve (12) months
following a Change in Control after the date hereof. No other event shall be a Covered Termination for purposes of this Agreement. 
 6.7
“Date of Covered Termination” means the first date following the last date of Executive’s employment with the Company or its subsidiaries as a result of a Covered Termination. 
 6.8 “Date of Notice of Termination” means the date the Executive is given notice, either verbal or written, that his employment with the
Company or its subsidiaries has been or will be terminated. 
 6.9 “Involuntary Termination” means Executive’s
dismissal or discharge by the Company or its subsidiaries (or, if applicable, by the successor entity) for reasons other than fraud, misappropriation or embezzlement on the part of Executive which resulted in material loss, damage or injury to the
Company. Notwithstanding the foregoing, Executive shall not be deemed to have been terminated for one of these reasons unless and until there shall have been delivered to Executive a copy of a resolution, duly adopted by the affirmative vote of not
less than three-quarters of the entire membership of the Company’s Board of Directors at a meeting of the Board called and held for the purpose (after reasonable notice to Executive and an opportunity for the Executive, together with
Executive’s counsel, to be heard before the Board of Directors), finding that in the good faith opinion of the Board of Directors, Executive was guilty of conduct set forth in the immediately preceding sentence and specifying the particulars
thereof in detail. 
  

					
		 	Page 38 of 46	 	

 The termination of an Executive’s employment would not be deemed to be an “Involuntary
Termination” if such termination occurs as a result of the death or disability of Executive. 
 6.10 “Voluntary Termination for
Good Reason” means that the Executive voluntarily terminates his employment after any of the following are undertaken without Executive’s express written consent: 
 (a) the assignment to Executive of any duties or responsibilities which result in any diminution or adverse change of Executive’s position,
status or circumstances of employment as in effect immediately prior to the Change in Control of the Company; any removal of Executive from or any failure to reelect Executive to any of such positions, except in connection with the termination of
his employment for death, disability, retirement, fraud, misappropriation, embezzlement or any other voluntary termination of employment by Executive other than Voluntary Termination for Good Reason; 
 (b) a reduction by the Company in Executive’s Annual Base Pay or targeted annual cash incentive bonus in effect at the time; 
 (c) any failure by the Company to continue in effect any benefit plan or arrangement, including incentive plans or plans to receive securities of
the Company, in which Executive is participating at the time of the Change in Control of the Company (hereinafter referred to as “Benefit Plans”), or the taking of any action by the Company which would adversely affect Executive’s
participation in or reduce Executive’s benefits under any Benefit Plans or deprive Executive of any fringe benefit enjoyed by Executive at the time of the Change in Control of the Company, provided, however, that Executive may not terminate
employment with the Company for Good Reason following a Change in Control of the Company if the Company offers a range of benefit plans and programs which, taken as a whole, are comparable to the Benefit Plans as determined in good faith by
Executive; 
 (d) a relocation of Executive, or the Company’s principal executive offices if Executive’s principal office is
at such offices, to a location more than fifteen (15) miles from the location at which Executive performed Executive’s duties immediately prior to the Change in Control of the Company, except for required travel by Executive on the
Company’s business to an extent substantially consistent with Executive’s business travel obligations at the time of the Change in Control of the Company; 
 (e) any breach by the Company of any provision of this Agreement; or 
 (f) any failure by the
Company to obtain the assumption of this Agreement by any successor or assign of the Company. 
 6.11 “Welfare Benefits”
means benefits providing for coverage or payment in the event of Executive’s death, disability, illness or injury that were provided to Executive immediately before a Change in Control, whether taxable or non-taxable and whether funded through
insurance or otherwise, including without limitation all life and health insurance coverage. 
 ARTICLE VII 
 GENERAL PROVISIONS 
 7.1 Employment
Status. This Agreement does not constitute a contract of employment or impose on Executive any obligation to remain as an employee, or impose on the Company any obligation (i) to retain Executive as an employee, (ii) to change the
status of Executive as an at-will employee, or (iii) to change the Company’s policies regarding termination of employment. 
 7.2 Notices. Any notices provided hereunder must be in writing and such notices or any other written communication shall be deemed effective upon the earlier of personal delivery (including personal delivery by telex or facsimile) or
the third day after mailing by first class mail, to the Company at its primary office location and to Executive at his address as listed in the Company’s payroll records. Any payments made by the Company to Executive under the terms of this
Agreement shall be delivered to Executive either in person or at his address as listed in the Company’s payroll records. 
  

					
		 	Page 39 of 46	 	

 7.3 Severability. Whenever possible, each provision of this Agreement will be interpreted in such
manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provisions had never been contained herein.

 7.4 Waiver. If either party should waive any breach of any provisions of the Agreement, he or it shall not thereby be deemed to
have waived any preceding or succeeding breach of the same or any other provision of this Agreement. 
 7.5 Complete Agreement. This
Agreement, including Exhibit A and other written agreements referred to in this Agreement, constitutes the entire agreement between Executive and the Company and it is the complete, final, and exclusive embodiment of their agreement with
regard to the subject matter hereof, and expressly supersedes all other agreements, promises or understandings, whether oral or written, including, without limitation, Executive's prior Executive Change in Control Severance Benefits Agreement dated
April 2, 2007. For avoidance of doubt, the parties hereto acknowledge and agree that in the event of any termination of Executive’s employment with the Company which constitutes a Covered Termination hereunder, Executive shall be entitled
to the rights and benefits provided for in this Agreement in lieu of any rights or benefits provided for in his employment agreement with the Company. This Agreement is entered into without reliance on any promise or representation other than those
expressly contained herein. 
 7.6 Amendment or Termination of Agreement. This Agreement may be changed or terminated only upon the
mutual written consent of the Company and Executive. The written consent of the Company to a change or termination of this Agreement must be signed by an executive officer of the Company after such change or termination has been approved by the
Compensation Committee of the Company’s Board of Directors. 
 7.7 Counterparts. This Agreement may be executed in separate
counterparts, any one of which need not contain signatures of more than one party, but all of which taken together will constitute one and the same Agreement. 
 7.8 Headings. The headings of the Articles and sections hereof are inserted for convenience only and shall not be deemed to constitute a part hereof nor to affect the meaning thereof. 
 7.9 Successors and Assigns. This Agreement is intended to bind and inure to the benefit of and be enforceable by Executive and the Company, and
their respective successors, assigns, heirs, executors and administrators, except that Executive may not assign any of his duties hereunder and Executive may not assign any of his rights hereunder without the written consent of the Company, which
consent shall not be withheld unreasonably. 
 7.10 Attorneys’ Fees. If Executive brings any action to enforce his rights
hereunder, Executive shall be entitled to recover his reasonable attorneys’ fees and costs incurred in connection with such action if Executive is the prevailing party in such action. Any reimbursements made by the Company to the Executive
pursuant to this Section shall be made no later than the end of the calendar year following the calendar year in which the related cost is incurred by the Executive. 
 7.11 Choice of Law. All questions concerning the construction, validity and interpretation of this Agreement will be governed by the law of the State of California. 
 7.12 Non-Publication. The parties mutually agree not to disclose publicly the terms of this Agreement except to the extent that disclosure is
mandated by applicable law. 
  

					
		 	Page 40 of 46	 	

 7.13 Construction of Agreement. In the event of a conflict between the text of this Agreement and
any summary, description or other information regarding this Agreement, the text of this Agreement shall control. 
 [Signatures Appear on the
Following Page] 
  

					
		 	Page 41 of 46	 	

 IN WITNESS WHEREOF, the parties have executed this Agreement on the day and year written above. 
  

									
	 INTERSIL CORPORATION
 a Delaware Corporation
	 		 	EXECUTIVE
			
	 /s/ Vern Kelley
	 		 	 /s/ David B. Bell

	 Name:
	 	Vern Kelley	 		 	Name:	 	David B. Bell
	 Title:
	 	Vice President, Human Resources	 		 	Title:	 	President and Chief Executive Officer

 Exhibit A: Employee Agreement and Release 
  

					
		 	Page 42 of 46	 	

 Exhibit A 
 Intersil Corporation 
 Employee Agreement and Release 
 I understand and agree completely to the terms set forth in the foregoing agreement. 
 I hereby confirm my obligations under the Company’s standard form of proprietary information agreement. 
 I acknowledge that I have read and understand Section 1542 of the California Civil Code which reads as follows: “A general release does not
extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected this settlement with the debtor.” I hereby expressly waive and
relinquish all rights and benefits under that section and any law of any jurisdiction of similar effect with respect to my release of any claims I may have against the Company. 
 Except as otherwise set forth in this Agreement, I hereby release, acquit and forever discharge the Company, its parents and subsidiaries, and their
officers, directors, agents, servants, employees, shareholders, successors, assigns and affiliates, of and from any and all claims, liabilities, demands, causes of action, costs, expenses, attorneys fees, damages, indemnities and obligations of
every kind and nature, in law, equity, or otherwise, known and unknown, suspected and unsuspected, disclosed and undisclosed (other than any claim for indemnification I may have as a result of any third party action against me based on my employment
with the Company), arising out of or in any way related to agreements, events, acts or conduct at any time prior to and including the Effective Date of this Agreement, including but not limited to: all such claims and demands directly or indirectly
arising out of or in any way connected with my employment with the Company or the termination of that employment, including but not limited to, claims of intentional and negligent infliction of emotional distress, any and all tort claims for
personal injury, claims or demands related to salary, bonuses, commissions, stock, stock options, or any other ownership interests in the Company, vacation pay, fringe benefits, expense reimbursements, severance pay, or any other form of
compensation; claims pursuant to any federal, state or local law or cause of action including, but not limited to, the federal Civil Rights Act of 1964, as amended; the federal Age Discrimination in Employment Act of 1967, as amended
(“ADEA”); the federal American with Disabilities Act of 1990; the California Fair Employment and Housing Act, as amended; tort law; contract law; wrongful discharge; discrimination; fraud; defamation; emotional distress; and breach of the
implied covenant of good faith and fair dealing; provided, however, that nothing in this paragraph shall be construed in any way to release the Company from its obligation to provide you with continued coverage under the Company’s directors and
officers liability insurance policy to the same extent that it has provided such coverage to previously departed officers and directors of the Company. 
 I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under ADEA. I also acknowledge that the consideration given for the waiver and release in the preceding paragraph hereof is
in addition to anything of value which I was already entitled. I further acknowledge that I have been advised by this writing, as required by the ADEA, that: (a) my waiver and release do not apply to any rights or claims that may arise after
the Effective Date of this Agreement; (b) I have the right to consult with an attorney prior to executing this Agreement; (c) I have twenty-one (21) days to consider this Agreement (although I may choose to voluntarily execute this
Agreement earlier); (d) I have seven (7) days following the execution of this Agreement by the parties to revoke the Agreement; and (e) this Agreement shall not be effective until the date upon which the revocation period has expired,
which shall be the eighth day after this Agreement is executed by me, provided that the Company has also executed this Agreement by that date (“Effective Date”). 
  

			
	 By:
	 	 /s/ David B. Bell

		 	David B. Bell
		
	 Date:
	 	April 4, 2008

  

 43

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