Document:

Exhibit

Exhibit 10.3

STOCK SETTLED APPRECIATION RIGHTS AGREEMENT

Recipient:                

Grant Date:                

Common Shares:            

Exercise Price:            

THIS STOCK SETTLED APPRECIATION RIGHTS AGREEMENT (the “Agreement”) is entered into as of the Grant Date set forth above by and between Agilysys, Inc., an Ohio corporation (the “Company”), and the Recipient set forth above (“you” or the “Recipient”).

		
	1.
	    Award.  Effective as of the Grant Date set forth above, the Company grants to you stock-settled stock appreciation rights (the “SSARs”) to purchase the number of common shares of the Company set forth above, at the Exercise Price per share set forth above. These SSARs are granted to you pursuant to the Agilysys, Inc. 2016 Stock Incentive Plan, as amended from time to time (the “Plan”), and is subject to the terms and conditions set forth in this Agreement. 

		
	2.
	    Term.  The term of the SSAR shall be for a period of 7 years from the date of grant, and these SSARs shall expire at the close of regular business hours at the Company’s principal office on the last day of the term of the SSAR, or, if earlier, on the applicable expiration date provided for in sections 3 and 4 hereof.

		
	3.
	    Vesting.  The SSARs will vest as follows, subject to the other terms and conditions of this Agreement, including that you remain employed as of the specified dates:

[insert vesting schedule]

Notwithstanding anything herein to the contrary, except as otherwise may be provided in Section 4 and 5, vesting hereunder is subject to you remaining employed by the Company or its subsidiaries, divisions or affiliated businesses as of the date vesting would otherwise occur hereunder.

		
	4.
	    Exercisability.  

(a)    To the extent that SSARs have become exercisable with respect to a number of Shares, you may thereafter exercise the SSARs either as to all or any part of such Shares at any time or from time-to-time prior to expiration or other termination of the SSAR.  Except as provided in Sections 4 and 5, the SSARs may not be exercised at any time unless you are at such time an employee of the Company or its subsidiaries, divisions or affiliated businesses (an “Employee”).

(b)    If you cease to be an Employee by reason of your Retirement, all vested SSARs shall remain exercisable, and your right to exercise vested SSARs shall terminate upon the last day of the term of the SSAR.  Non-vested SSARs shall continue to vest as provided in Section 2, but such SSARs shall be exercisable for two years from the date that such SSARs vests or, if 

shorter, until the last day of the term of the SSARs, and your right to exercise such SSAR shall terminate thereafter.

(c)    If you cease to be an Employee due to your Disability, the SSARs shall be deemed vested with respect to all Shares then subject to the SSARs, and your right to exercise the SSARs shall terminate upon the earlier of the date that is one year from the date of such cessation of employment or the last day of the term of the SSAR.

(d)    If you cease to be an Employee for any reason other than your death, Disability, or Retirement, the SSARs may be exercised only to the extent of the exercise rights, if any, which had accrued as of the date of such cessation pursuant to Section 2 hereof and which have not theretofore been exercised.  Upon any such cessation of employment, such accrued exercise rights shall in any event terminate upon the earlier of the date that is 90 days from the date of such cessation of employment or the last day of the term of the SSAR.

(e)    Nothing contained in this Agreement shall confer upon you any right to continue in the employ of the Company or any of its Subsidiaries, or to limit or interfere in any way with the right of the Company or any such Subsidiary to terminate your employment at any time, with or without cause.

		
	5.
	    Death of Recipient.  If you die while an Employee, such person or persons as shall have acquired, by will or by the laws of descent and distribution, the right to exercise the SSARs (the “Personal Representative”) shall be entitled to exercise the SSARs as to all of the Shares then subject to the SSARs.  Such exercise rights shall terminate upon the earlier of the date one year from the date of your death or the last day of the term of the SSARs.  If, after Retirement, you die prior to the last day of the term of the SSARs, the Personal Representative shall be entitled to exercise all unexercised SSARs, and such SSARs shall remain exercisable, for the greater of the remainder of the exercise period (as applicable) or one year from the date of your death, but in no event shall the SSARs be exercisable after the last day of the term of the SSARs.  If you die during the one-year period commencing on the date of your termination due to your Disability, the Personal Representative shall be entitled to exercise the SSARs, and such SSARs shall remain exercisable until one year from the date of such death, but in no event shall the SSARs be exercisable after the last day of the term of the SSARs.

		
	6.
	    Change of Control.  

(a)    Upon a Change in Control, this SSAR shall become fully exercisable and shall immediately be deemed exercised as to all Shares then subject to the SSARs. The net number of Shares issued to you pursuant to this Section 5 as a result of the deemed exercise (the “Held Shares”) shall be subject to the restrictions set forth in this Section 5 (in addition to any applicable securities law restrictions or other restrictions imposed on Shares generally).

(b)    During the Holding Period, you shall not have the right to sell, assign, transfer, convey, dispose, pledge, hypothecate, burden, alienate, encumber or charge any Held Shares or any interest therein in any manner whatsoever, and the Company shall not be required to transfer on its books any such Held Shares which shall have been sold, assigned, transferred, conveyed, disposed of, pledged, hypothecated, burdened, alienated, encumbered or charged in violation of this Agreement.

(c)    During the Holding Period, you shall have all of the voting rights attributable to the Held Shares.  Cash dividends declared and paid by the Company with respect to the Held Shares shall not be paid to you.  Rather, those cash dividends shall be invested in additional Shares which shall be subject to the Holding Period.  You irrevocably consent to: (i) the Company’s withholding of the payment of those dividends; and (ii) the investment of those dividends in Shares issued in your name and book-entered on your behalf subject to removal of the restrictions or forfeiture pursuant to the terms of this Agreement.

(d)    The Held Shares shall remain subject to the restrictions set forth in this Section 5 and such restrictions shall lapse in the event of (a) your continued employment through the earlier of (i) 12 months after the date of the Change in Control, or (ii) the date you cease to be an employee with the Company, a Subsidiary or any of their successors on account of an involuntary termination of employment by the Company or such Subsidiary or successor without Cause or on account of a termination of your employment by you for Good Reason (determined, in each case, in accordance with your employment agreement, or in absence thereof, the Plan, as in effect immediately prior to the Change in Control), or (b) without regard to the application of this Section 5, the date the Held Shares would vest by reason of a termination of employment or Change in Control under your employment agreement in effect immediately prior to the Change in Control (the “Holding Period”).

(e)    If your employment with the Company, and of its Subsidiaries, or any of their successors terminates prior to the end of the Holding Period due to any reason other than an involuntary termination of employment by the Company without Cause or on account of a termination of your employment by you for Good Reason (determined, in each case, in accordance with your employment agreement, or in absence thereof, the Plan, as in effect immediately prior to the Change in Control), including, without limitation, on account of your death, Disability, Retirement, voluntary termination or termination for Cause, then the Held Shares shall be forfeited, and you and all persons who might claim through you will have no further interests under this Agreement, all Shares subject to the SSAR, the Held Shares, or the SSAR of any kind whatsoever.

(f)    Upon the end of the Holding Period, the Company shall cause the transfer agent of the Company to move the Held Shares which have not been forfeited, together with any Common Shares issued as a result of the investment of cash dividends attributable to the Common Shares, to a non-restricted account.

(g)    If Common Shares generally are convertible into a right to receive non-equity consideration in connection with the Change in Control, then the Held Shares shall be convertible into the right to receive such non-equity consideration, and the right to receive such non-equity consideration shall be subject to the Holding Period under this Section 5 on the same basis as the Held Shares.

		
	7.
	    Waiver of Terms and Conditions.  The Committee has the power and authority to waive or accelerate the vesting provisions of the SSARs, or to waive or modify the other terms and conditions of and restrictions and limitations on the SSARs, provided such waiver or modification is not (a) materially detrimental to you, nor (b) inconsistent with the terms of the Plan and any employment agreement with you then in effect.

		
	8.
	    Method of Exercise.  The SSARs may be exercised by delivery to the Legal Department of the Company a completed notice of exercise in the form prescribed by the Legal Department 

(obtainable from the Secretary of the Company) by or on behalf of the person entitled to exercise the SSARs, setting forth the number of Shares with respect to which SSARs are being exercised.  SSARs will be settled in the Company’s Common Shares, net of the Exercise Price and any required tax withholding.  

		
	9.
	    Issuance of Shares.  Upon receipt by the Company prior to expiration of the SSARs of a duly completed notice of exercise and, with respect to any SSARs exercised by any person other than you, by proof satisfactory to the Committee of the right of such person to exercise the SSARs, and subject to section 5 hereof, the Company shall cause its transfer agent to enter in its books and records on your behalf the net number of Shares derived after accounting for the Exercise Price and any required tax withholding.  You or such other person exercising the SSARs shall not have any of the rights of a shareholder with respect to the Shares covered by the SSARs until such Shares are book-entered on behalf of you or such other person exercising the SSAR, subject to any applicable restrictions under Section 5.

		
	10.
	    Regulatory Compliance.  You agree that the Company shall not be obligated to issue any Shares upon exercise of the SSARs if such issuance would cause the Company to violate any federal or state law or any rule, regulation, order or consent decree of any regulatory authority (including without limitation the Securities and Exchange Commission and The Nasdaq Stock Market) having jurisdiction over the affairs of the Company.  You agree that you will provide the Company with such information as is reasonably requested by the Company or its counsel to determine whether the issuance of Shares complies with the provisions of this section.

		
	11.
	    Investment Representation.

(a)    You represent to the Company that you understand that, unless at the time of exercise of the SSARs a registration statement under the Securities Act of 1933, as amended, is in effect covering the Shares, as a condition to the exercise of the SSARs, the Company may require you to represent that you are acquiring the Shares for your own account only and not with a view to, or for sale in connection with, any distribution of the Shares.

(b)    You understand and agrees that the certificate or certificates representing any Shares acquired hereunder may bear an appropriate legend relating to registration and resale under federal and state securities laws.

		
	12.
	    Notices.  All notices or other communications relating to the Plan and this Agreement as it relates to you shall be in writing, shall be deemed to have been made if personally delivered in return for a receipt or, if mailed, by regular U.S. mail, postage prepaid, by the Company to you at your address then on file with the Company.  You are responsible for notifying the Company of a change in your address.  

		
	13.
	    Governing Law.  Except as may otherwise be provided in the Plan, this Agreement will be governed by, construed and enforced in accordance with the internal laws of the State of Ohio without giving effect to its conflict of laws principles.

		
	14.
	    Amendment.  The Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate this Agreement.  However, no such action may be inconsistent with the terms of the Plan or materially and adversely affect your rights without your written consent.  Notwithstanding the foregoing, the Company may, after consulting 

with you, unilaterally amend this Agreement to comply with law, preserve favorable tax effects or avoid unfavorable tax effects for either of the parties.

		
	15.
	     Effect of Waiver.  Any waiver of any term, condition or breach thereof will not be a waiver of any other term or condition or of the same term or condition for the future, or of any subsequent breach.

		
	16.
	    Separability.  In the event of the invalidity of any part or provision of this Agreement, such invalidity will not affect the enforceability of any other part or provision of this Agreement.

		
	17.
	    Successors and Legal Representatives.  This Agreement will bind and inure to the benefit of the Company and you and its and your respective beneficiaries, heirs, legatees, executors, administrators, estates, successors, assigns, legal representatives, guardians and caretakers.

		
	18.
	    Transferability.  The SSARs shall not be transferable by you other than by will or the laws of descent and distribution, and the SSARs may be exercised during your lifetime only by you (or such other person as may be permitted to exercise SSARs on your behalf).

		
	19.
	    No Further Liability.  The liability of the Company, its affiliates and the Committee under or in connection with this Agreement is limited to the obligations set forth herein and no terms or provisions of this Agreement shall be construed to impose any liability on the Company, its affiliates, the Committee or their directors and employees in favor of any person or entity with respect to any loss, cost, tax or expense which the person or entity may incur in connection with or arising from any transaction related to this Agreement.  No third-party beneficiaries are intended.

		
	20.
	    Recoupment Right.  You acknowledge that if the Board of Directors of the Company (including a Committee of the Board) determines that the Company’s financials are restated due directly or indirectly to the fraud, ethical misconduct, intentional misconduct or a breach of fiduciary duty by you, the Board (or Committee) shall have sole discretion to take such actions, as permitted by law, as it deems necessary to cancel the SSAR and to recover all or a portion of any gains realized in respect of the SSAR, provided such recovery cannot extend back more than three years. 

		
	21.
	    The Plan.  The Plan is hereby incorporated by reference and made a part of this Agreement for all purposes, and when taken together with this Agreement, shall govern the rights of you and the Company with respect to the Award.  You irrevocably agree to, and accept, the terms, conditions and restrictions of the Plan and this Agreement on your own behalf and on behalf of any beneficiaries, heirs, legatees, guardians, representatives, successors and assigns.  All capitalized terms used in this Agreement, unless otherwise defined, shall have the meaning ascribed to them under the Plan. In the event and to the extent of an express conflict or inconsistency among any of this Agreement, any written employment agreement with you then in effect, the provisions of the Plan, and any rules, regulations, and interpretations of the Plan adopted by the Committee, then the following order of priority shall control; (a) any written employment agreement then in effect, (b) the Plan, (c) any rules, regulations, and interpretations of the Plan adopted by the Committee, and (d) this Agreement; and to the extent that any other document controls this Agreement shall be deemed to be modified accordingly.

IN WITNESS WHEREOF, the parties hereto have executed this Agreement and agree to the terms hereof.

“Company”

___________________________________

“Recipient”nano-ex1015_86.htm

Exhibit 10.1 (5)

 

Nanometrics Incorporated   Tel: 408.545.6000

1550 Buckeye Drive             Fax: 408.232.5910

Milpitas, CA 95035

www.nanometrics.com

 

 

June 25, 2018

Jonathan Chou

 

 

Re:Separation Agreement 

Dear Jonathan:

This Confidential Separation Agreement and General Release of All Claims (“Agreement”) is made by and between Nanometrics Incorporated (the “Company”) and Jonathan Chou (“you” or “your”) (individually, a “Party” and collectively, the “Parties”) with respect to the following facts: 

A.The Parties have determined that it is in their respective best interests for you to separate your at-will employment from the Company.

B.It is the mutual desire of the Parties to effect a final resolution and compromise of any and all matters in controversy between them from the beginning of time until the Effective Date (defined below) of this Agreement.

1.Separation.  Your last day of work with the Company and your employment termination date is June 25, 2018 (the “Separation Date”).  

2.Accrued Salary and Paid Time Off (PTO).  On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused PTO earned through the Separation Date, subject to standard payroll deductions and withholdings.  You are entitled to these payments regardless of whether or not you sign this Agreement.

3.Severance.  Although the Company is not otherwise obligated to do so, if you timely return this fully signed and dated Agreement to the Company, and allow it to become effective, and you comply fully with your obligations hereunder (including but not limited to your obligations to timely return all Company property under Section 8), the Company will provide you with cash severance (the “Severance”) in the total amount of One Hundred and Fifty Thousand Dollars and 0/100 cents ($150,000.00), which amount will be paid in a lump sum within ten (10) days after the Effective Date (as defined below).  You acknowledge and agree that the Severance constitutes adequate legal consideration, which you are not otherwise entitled to, in exchange for the covenants, promises, obligations and representations made by you in this Agreement.  You understand that you will receive the consideration provided under this paragraph 3 if, and only if, you sign and return this Agreement no later than twenty-one 

 

June 25, 2018

Jonathan Chou

Page 2

 

 

(21) days from June 25, 2018, and fully comply with its terms.  The Company confirms that you will not be obligated to repay the relocation expenses previously billed to or paid by the Company pursuant to and under the Relocation Agreement made by and between you and the Company.

4.Health Insurance.  In further consideration of your promises made in this Agreement, and provided you are eligible for and timely elect coverage pursuant to the terms of the Consolidated Omnibus Reconciliation Act, as amended (“COBRA”), the Company shall pay directly to the insurer(s), on your behalf, the applicable COBRA premium for medical and dental coverage for up to twelve (12) consecutive months, for the period beginning July 1, 2018 through June 30, 2019 (or, if applicable, such earlier date upon which you and/or your covered dependents are no longer eligible for COBRA) (“COBRA Benefit”).  From and after July 1, 2019, you shall be entitled to continue such COBRA coverage for the remainder of your COBRA coverage period, at your own expense.  You shall timely provide any documentation of COBRA enrollment once your election to continue such medical and dental coverage in accordance with COBRA is complete.  You also must provide timely notice if you become eligible for medical benefits with a new employer prior to June 30, 2019.  Except as otherwise provided in this Agreement, your participation in all benefits and incidents of employment with the Company, including, but not limited to, accrual of bonuses, vacation, and paid time off, shall have ceased on and as of the Separation Date.  For the avoidance of doubt, no reimbursement will be made to you or on your behalf for any COBRA premiums paid by you for COBRA coverage effective prior to July 1, 2018.

5.Equity Compensation.  Under the terms of your restricted stock unit agreement and the applicable plan documents, vesting of your restricted stock units will cease as of the Separation Date.  Your right to exercise any vested shares, and all other rights and obligations with respect to your restricted stock units, will be as set forth in your restricted agreement, grant notice and applicable plan documents. 

6.No Other Compensation or Benefits.  You acknowledge that, except as expressly provided in this Agreement, you have not earned, will not earn by the Separation Date, and will not receive from the Company any additional compensation, severance, or benefits on or after the Separation Date, with the exception of any vested right you may have under the express terms of a written ERISA-qualified benefit plan (e.g., 401(k) account).  By way of example, you acknowledge that you have not earned and are not owed any equity, bonus, incentive compensation, or commissions, and that you will not continue to vest in or earn any additional bonus, equity, incentive compensation, or commissions after the Separation Date.  You agree that you do not have knowledge of any potential or actual dispute with the Company about any unpaid wages or compensation which you believe you are  entitled to but have not been paid as of the date you execute this Agreement.

 

June 25, 2018

Jonathan Chou

Page 3

 

 

7.Expense Reimbursements.  You agree that, within thirty (30) days of the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement.  The Company will reimburse you for these expenses pursuant to its regular business practice.

8.Return of Company Property. Within five (5) business days after the Separation Date, you shall return to the Company all Company documents (and all copies thereof) and other Company property in your possession or control, including, but not limited to, Company files, notes, financial and operational information, customer lists and contact information, product and services information, research and development information, drawings, records, plans, forecasts, reports, payroll information, spreadsheets, studies, analyses, compilations of data, proposals, agreements, sales and marketing information, personnel information, specifications, code, software, databases, computer-recorded information, tangible property and equipment (including, but not limited to, computers, facsimile machines, mobile telephones, tablets, handheld devices, and servers), credit cards, entry cards, identification badges and keys; and any materials of any kind which contain or embody any proprietary or confidential information of the Company and all reproductions thereof in whole or in part and in any medium.  You agree that you will make a diligent search to locate any such documents, property and information within the timeframe referenced above.  In addition, if you have used any personally owned computer, server, or e-mail system to receive, store, review, prepare or transmit any confidential or proprietary data, materials or information of the Company, then within five (5) days after the Separation Date, you must provide the Company with a computer-useable copy of such information and then permanently delete and expunge such confidential or proprietary information from those systems without retaining any reproductions (in whole or in part); and you agree to provide the Company access to your system, as requested, to verify that the necessary copying and deletion is done.  Your timely compliance with the provisions of this paragraph is a precondition to your receipt of the Severance and COBRA Benefit provided hereunder.

9.Proprietary Information Obligations.  You hereby acknowledge and reaffirm your continuing obligations under your Nanometrics Incorporated Invention Assignment and Non-disclosure Agreement (the “Proprietary Information Agreement,” a copy of which is attached hereto as Exhibit A and which is incorporated herein by reference).

10.Confidentiality.  The provisions of this Agreement shall be held in strictest confidence by you and shall not be publicized or disclosed in any manner whatsoever; provided, however, that:  (a) you may disclose this Agreement in confidence to your immediate family; (b) you may disclose this Agreement in confidence to your attorneys, accountants, auditors, tax preparers, and financial advisors; and (c) you may disclose this Agreement insofar as such disclosure may be necessary to enforce its terms or as otherwise required by law.  In particular, 

 

June 25, 2018

Jonathan Chou

Page 4

 

 

and without limitation, you agree not to disclose the terms of this Agreement to any current or former employee, consultant or independent contractor of the Company.  

Nothing herein is intended to be or will be construed to prevent, impede, or interfere with your right to respond accurately and fully to any question, inquiry, or request for information regarding the Company or your employment with the Company when required by legal process, or from initiating communications directly with, or responding to any inquiry from, or providing truthful testimony and information to, any federal, state, or other regulatory authority in the course of an investigation or proceeding authorized by law and carried out by such agency.  You are not required to contact the Company regarding the subject matter of any such communications before they engage in such communications.  You may disclose trade secrets in confidence, either directly or indirectly, to a federal, state, or local government official, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law, or in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  Additionally, Company employees, contractors, and consultants who file retaliation lawsuits for reporting a suspected violation of law may disclosed related trade secrets to their attorney and use them in related court proceedings, as long as the individual files any documents containing the trade secret under seal and does not otherwise disclose the trade secret except pursuant to court order. 

You understand that the covenants contained in the confidentiality portion of this paragraph is a material inducement for the Company in making this agreement and that, for the breach thereof, will be considered a material breach of this Agreement.

11.Nondisparagement.  You agree that you will not make any voluntary statements, written, oral, or electronic (including any social media forum whether expressly or anonymously), or cause or encourage others to make any such statements that defame or in any way disparage the personal and/or business reputations, products, practices or conduct of the Company or any of the other Released Parties at any time, now or in the future.  The Company agrees that all officers of the Company, as defined under Rule 16a-1(f) of the Securities Exchange Act of 1934 and as determined by the Board of Directors, will not make any voluntary statements, written or oral, or cause or encourage others to make any such statements that defame or in any way disparage your personal and/or business reputation.   Nothing contained in this paragraph is intended to prevent you from testifying truthfully in any legal proceeding, including, but not limited to responding to any inquiries made by the U.S. Equal Employment Opportunity Commission (“EEOC”) or any government agency.  The Parties understand that the covenant of non-disparagement contained in this Agreement is a material inducement for each Party in making this agreement and that, for the breach thereof, will be considered a material breach of this Agreement.  The Company confirms that pursuant to its policy, it will only provide dates of employment and position held if there are ever any enquires or reference checks.

 

June 25, 2018

Jonathan Chou

Page 5

 

 

 

12.No Admissions.  The promises and payments in consideration of this Agreement shall not be construed to be an admission of any liability or obligation by either Party to the other Party, and neither Party makes any such admission.

13.Release of Claims.  

(a)General Release.  In exchange for the consideration provided to you under this Agreement to which you would not otherwise be entitled, you hereby generally and completely release the Company, and its affiliated, related, parent and subsidiary entities,  and its and their current and former directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, insurers, affiliates, and assigns (collectively, the “Released Parties”) from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to or on the date you sign this Agreement (collectively, the “Released Claims”).  

(b)Scope of Release.  The Released Claims include, but are not limited to:  (i) all claims arising out of or in any way related to your employment with the Company, or the termination of that employment; (ii) all claims related to compensation or benefits from the Company, including salary, bonuses, commissions, vacation, severance, paid time off, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership, equity, or profits interests in the Company; (iii) all claims for breach of contract, any claims for severance or otherwise under the General Severance Benefits and Change In Control Severance Benefits Agreement, dated as of March 5, 2018, between you and the Company and any other  Company severance plan, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (iv) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (v) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the federal Age Discrimination in Employment Act of 1967 (as amended) (the “ADEA”), the California Labor Code (as amended), and the California Fair Employment and Housing Act (as amended).  

(c)Excluded Claims.  Notwithstanding the foregoing, the following are not included in the Released Claims (the “Excluded Claims”): (i) any rights or claims for indemnification you may have pursuant to any written indemnification agreement with the Company to which you are a party or under applicable law; (ii) any rights which cannot be waived as a matter of law; (iii) any rights you have to file or pursue a claim for underlying workers’ compensation benefits (except for claims pursuant to Labor Code sections 132a, 4553 et seq. which have been expressly released by way of this Agreement) or unemployment insurance; and (iv) any claims for breach of this Agreement.  In addition, nothing in this Agreement prevents you from filing, cooperating with, or participating in any proceeding 

 

June 25, 2018

Jonathan Chou

Page 6

 

 

before the EEOC, the Department of Labor, the California Department of Fair Employment and Housing, or any analogous government agency, except that you acknowledge and agree that you hereby waive your right to any monetary benefits in connection with any such claim, charge or proceeding except that nothing in this Agreement shall be interpreted to prohibit or prevent you from recovering an award for filing or participating in any whistleblower complaint filed with the Securities and Exchange Commission.  You represent and warrant that, other than the Excluded Claims, you are not aware of any claims you have or might have against any of the Released Parties that are not included in the Released Claims.  

(d)ADEA Waiver.  This Agreement is intended to satisfy the requirements of the Older Workers Benefit Protection Act, 29 U.S.C. § 626(f).  You are advised to consult with an attorney before executing this Agreement.  You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you may have under the ADEA, and that the consideration given for the waiver and release in this Section is in addition to anything of value to which you are already entitled.  You further acknowledge that you have been advised, as required by the ADEA, that:  (i) your waiver and release do not apply to any rights or claims that may arise after the date that you sign this Agreement; (ii) you should consult with an attorney prior to signing this Agreement; (iii) you have twenty-one (21) days to consider this Agreement (although you may choose voluntarily to sign it earlier); (iv) you have seven (7) days following the date you sign this Agreement to revoke it (by providing written notice of your revocation to me by email: pziman@nanometrics.com); and (v) if you do not revoke acceptance of this Agreement within the seven (7) day period, your acceptance of this Agreement shall become binding and enforceable on the eighth day (“Effective Date”).

14.Waiver of Unknown Claims.  In giving the releases set forth in this Agreement, which include claims which may be unknown to you at present, you acknowledge that you 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 or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.”  In connection with such waiver and relinquishment, you hereby acknowledge that you may hereafter discover claims or facts in addition to, or different from, those which you now knows or believes to exist, but that you expressly agree to fully, finally and forever settle and release any and all claims, known or unknown, suspected or unsuspected, which exist or may exist on your behalf against the Company and/or Released Parties at the time of execution of this Agreement.

15.Representations.  You hereby represent that you have been paid all compensation owed and for all hours worked, you have received all the leave and leave benefits and protections for which you are eligible pursuant to the federal Family and Medical Leave Act, the California Family Rights Act, or otherwise, and you have not suffered any on-the-job injury for which you have not already filed a workers’ compensation claim.

 

June 25, 2018

Jonathan Chou

Page 7

 

 

16.Representation Concerning Filing of Legal Actions.  You represent and warrant that you do not presently have on file, and further represents that you will not hereafter file, any claims, grievances, actions, appeals or complaints against the Company or the Released Parties in or with any state, federal or other governmental entity, board or court, or before any other tribunal or panel of arbitrators, public or private, based upon any actions occurring prior to the date of this Agreement, including but not limited to any claims arising out of the cessation of your employment with the Company, unless otherwise permitted by law.  If such an action or charge has been filed by you, or on your behalf, you agree not to participate in any such proceeding and you will use your best efforts to cause it immediately to be withdrawn and dismissed with prejudice.

17.Miscellaneous.  This Agreement, including Exhibit A, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to the subject matter hereof.  It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other agreements, promises, warranties or representations concerning its subject matter.  This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company.  This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns.  If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination shall not affect any other provision of this Agreement and the provision in question shall be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible under applicable law.  Any ambiguity in this Agreement shall not be construed against either Party as the drafter.  Any waiver of a breach of this Agreement, or rights hereunder, shall be in writing and shall not be deemed to be a waiver of any successive breach or rights hereunder.  This Agreement may be executed in counterparts which shall be deemed to be part of one original, and facsimile and electronic image signatures shall be equivalent to original signatures. This Agreement, in all respects, shall be interpreted, enforced and governed by and under the laws of the State of California without regard to conflict of law principles. In the event that any Party to this Agreement asserts a claim for breach of this Agreement, seeks to enforce its terms, or asserts the existence of this Agreement as an affirmative defense, the prevailing Party in any such proceeding shall be entitled to recover costs and reasonable attorney’s fees, to the fullest extent permitted by law.

 

 

 

 

June 25, 2018

Jonathan Chou

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If this Agreement is acceptable to you, please sign and date below on or before the expiration of the twenty-first (21st) day from the date you received this Agreement, and send me the fully signed Agreement.  The Company’s offer contained herein will automatically expire if we do not receive the fully signed Agreement within this timeframe.  

We wish you the best in your future endeavors.

Sincerely,

Nanometrics Incorporated

 

 

		
	
By:
	
/s/ Philip Ziman

	
 
	
Philip Ziman

	
 
	
Vice President, Global Human Resources

 

 

	
	
Understood and Agreed:

	
 

	
/s/ Jonathan Chou

	
Jonathan Chou

	
 

	
July 11, 2018

	
Date

 

 

 

 

 

 

Exhibit A

nanometrics incorporated invention assignment and non-disclosure agreement

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