Document:

Long Term Stock Incentive Plan

 Exhibit 10.6 
 SEMTECH CORPORATION 
 LONG-TERM STOCK INCENTIVE PLAN 
 (As Amended and Restated)1 
 1. THE PLAN 
 (a) Purpose. The purpose of this Long-Term Stock Incentive Plan (the “Plan”) is to promote the longer-term financial success of Semtech Corporation (the “Company”) by providing a means to attract,
retain and award individuals who can and do contribute to such success. By using stock-based compensation, the recipients of awards under the Plan will further identify their interests with those of the Company’s stockholders. 
 (b) Effective Date. To serve this purpose, the Plan will become effective upon its approval by the affirmative vote of a majority of the shares present
or represented by proxy at the Company’s 1998 Annual Meeting of Stockholders. 
 2. ADMINISTRATION 
 (a) Committee. The Plan shall be administered by a Committee, appointed by the Board of Directors of the Company. So long as the Company’s common
stock, par value $.01 per share (“Common Stock”) remain registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Section 16 Participants may receive awards, any committee authorized by the
Board to administer the Plan shall be comprised solely of two or more directors of the Company who are Non-Employee Directors within the meaning of Rule 16b-3(b)(3)(i) promulgated under the Exchange Act. Notwithstanding the foregoing, the Board of
Directors of the Company (the “Board”) may assume, at its sole discretion, administration of the Plan. The administrator of the Plan, whether a committee of the Board or the full Board, is referred to herein as the “Plan
Administrator.” 
 (b) Powers and Authority. The Plan Administrator’s powers and authority include, but are not limited to,
selecting individuals who are (1) employees of the Company or any subsidiary of the Company or other entity in which the Company has a significant equity or other interest as determined by the Plan Administrator, or (2) members of the
Board; determining the types and terms and conditions of all awards granted, including performance and other earnout and/or vesting contingencies; permitting transferability of awards to third parties; interpreting the Plan’s provisions; and
administering the Plan in a manner that is consistent with its purpose. 
 (c) Award Prices. For Plan purposes, all stock options and stock
appreciation rights shall have an exercise price which shall reflect the closing market price of a share of Common Stock, on the date as determined by the Plan Administrator, or if the Common Stock is not traded on such date, the closing market
price on the next succeeding business day (next day on which such Common Stock is traded). The applicable date (date determined by the Plan administrator) shall be the date on which the award is granted. 
  

	 1
	 All share numbers herein have been adjusted to give effect to two two-for-one stock splits effected on
September 14, 1999 and September 26, 2000. 

 3. SHARES SUBJECT TO THE PLAN 
 (a) Maximum Shares Available for Delivery. Subject to Section 3(c), the maximum number of shares of Common Stock that may be delivered to participants and their beneficiaries under the Plan shall be equal to the
sum of (i) 8,000,000 shares of Common Stock; (ii) any shares of Common Stock available for future awards under the Company’s 1994 Long-Term Stock Incentive Plan as of the effective date of this Plan; (iii) any shares of Common
Stock available for future awards under the Company’s 1994 Non-Employee Directors Stock Option Plan as of the effective date of this Plan; (iv) any shares of Common Stock that are represented by awards granted under any prior plan of the
Company, which are forfeited, expire or are canceled without the delivery of shares of Common Stock or which result in the forfeiture of shares of Common Stock back to the Company; and (v) up to 8,000,000 additional shares of Common Stock, if
authorized by the Board, which are reacquired in the open market or in a private transaction after the effective date of this Plan. Collectively the shares of Common Stock subject to this Plan are referred to herein as “Shares.” In
addition, any Shares granted under the Plan which are forfeited back to the Company because of the failure to meet an award contingency or condition shall again be available for delivery pursuant to new awards granted under the Plan. Any Shares
covered by an award (or portion of an award) granted under the Plan, which is forfeited or canceled, expires or is settled in cash, shall be deemed not to have been delivered for purposes of determining the maximum number of Shares available for
delivery under the Plan. Likewise, if any stock option is exercised by tendering Shares, either actually or by attestation, to the Company as full or partial payment in connection with the exercise of a stock option under this Plan or any prior plan
of the Company, only the number of Shares issued net of the Shares tendered shall be deemed delivered for purposes of determining the maximum number of Shares available for delivery under the Plan. Further, Shares issued under the Plan through the
settlement, assumption or substitution of outstanding awards or obligations to grant future awards as a condition of the Company acquiring another entity shall not reduce the maximum number of Shares available for delivery under the Plan.

 (b) Other Plan Limits. Subject to Section 3(c), the following additional maximums are imposed under the Plan. The maximum number of
Shares that may be covered by stock options intended to comply with Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”), (“Incentive Stock Options”) shall be 8,000,000. The maximum number of Shares that
may be issued in conjunction with awards granted pursuant to Section 4(d) shall be 2,400,000 plus up to an additional 2,400,000 to the extent that such Shares are reacquired by the Company pursuant to Section 3(a). The maximum number of
Shares that may be covered by awards granted to any one individual pursuant to Sections 4(b) and 4(c) shall be 2,000,000 during any consecutive three calendar years. The maximum payment that can be made for awards granted to any one individual
pursuant to Sections 4(d) and 4(e) shall be $2,500,000 for any single or combined performance goals established for a specified performance period. If a payment under Sections 4(d) or 4(e) is made in Shares, the value of such Shares for determining
this maximum individual payment amount will be the closing price of a Share on the first day of the applicable performance period. A specified performance period for purposes of this performance goal payment limit shall not exceed a sixty
(60) consecutive month period. 
 (c) Payment Shares. Subject to the overall limitation on the number of Shares that may be delivered
under the Plan, the Plan Administrator may use available Shares as the form of payment for compensation, grants or rights earned or due under any other compensation plans or arrangements of the Company, including the plan of any entity acquired by
the Company. 
  

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 (d) Adjustments for Corporate Transactions. The Plan Administrator may determine that: 
 (i) In the event that the outstanding shares of Common Stock of the Company are changed into or exchanged for a different number or kind of shares or
other securities of the Company by reason of any recapitalization, reclassification, stock split, stock dividend, combination or subdivision, appropriate adjustment shall be made in the number of shares available under the Plan and under any stock
awards granted under the Plan. Such adjustment to outstanding stock awards shall be made without change in the total price applicable to the unexercised portion of such awards, and a corresponding adjustment in the applicable option price per share
shall be made. No such adjustment shall be made which would, within the meaning of any applicable provisions of the Code, constitute a modification, extension or renewal of any award or a grant of additional benefits to the holder of an award.

 (ii) In case (A) the Company is merged or consolidated with another corporation or other entity and the Company is not the surviving
corporation, (B) all or substantially all of the assets or more than 50% of the outstanding voting stock of the Company is acquired by any other corporation or other entity or (C) of a reorganization or liquidation of the Company, the Plan
Administrator or the governing body of any entity assuming the obligations of the Company, shall, as to outstanding awards, either (x) make appropriate provision for the protection of any such outstanding awards by the substitution on an
equitable basis of appropriate stock of the Company, or of the merged, consolidated or otherwise reorganized corporation which will be issuable in respect of the shares of Common Stock of the Company, provided that no additional benefits shall be
conferred upon participants as a result of such substitution, and the excess of the aggregate fair market value of the shares subject to the awards immediately after such substitution over the purchase price thereof is not more than the excess of
the aggregate fair market value of the shares subject to the award immediately before such substitution over the purchase price thereof, or (y) upon written notice to the participants, provide that all unexercised awards must be exercised
within a specified number of days of the date of such notice or they will be terminated. In any such case, the Plan Administrator may, in its discretion, accelerate the exercise dates of outstanding awards; provided, however, that subsections
(iii) and (iv) of this paragraph (d) shall govern acceleration of awards with respect to the events described therein. 
 (iii) In case of (A) any consolidation or merger involving the Company if the shareholders of the Company immediately before such merger or consolidation do not own, directly or indirectly, immediately following such merger or
consolidation, more than fifty percent (50%) of the combined voting power of the outstanding voting securities or interests of the corporation (or its parent corporation) or other entity resulting from such merger or consolidation in
substantially the same proportion as their ownership of the shares of Common Stock immediately before such merger or consolidation; (B) any sale, lease, license, exchange or other transfer (in one transaction or a series of related
transactions) of all, or substantially all, of the business and/or assets of the Company or assets representing over 50% of the operating revenue of the Company; or (C) any person (as such term is used in Sections 13(d) and 14(d) of the
Exchange Act who is not, on April 16, 1998, a “controlling person” (as defined in Rule 405 promulgated under the Securities Act of 1933, as amended) (a “Controlling Person”) of the Company shall become (x) the
beneficial owner 

  

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(within the meaning of Rule 13d-3 promulgated under the Exchange Act) of over 50% of the Company’s outstanding Common Stock or the combined voting power
of the Company’s then outstanding voting securities entitled to vote generally or (y) a Controlling Person of the Company, all outstanding awards, regardless of the date of grant of such awards, shall immediately become exercisable with
respect to 100% of the Shares subject to such awards. This paragraph 3(d)(iii) shall apply only to awards granted prior to October 3, 2001 and to awards granted on or after October 3, 2001 to participants who are non-employee directors on
the date of grant. 
 (iv) In the event of the termination without cause of a participant within one year following a Change in Control (as
defined below) or a Constructive Termination (as defined below) of a participant, all outstanding awards, regardless of the date of grant of such awards, shall immediately become exercisable with respect to 100% of the Shares subject to such awards.

 For purposes of this paragraph 3(d)(iv), “Constructive Termination” shall mean participant’s voluntary termination within
one year following participant’s knowledge of the occurrence of any of the following: (A) a reduction in participant’s base salary after a “Change in Control” (as defined below) from that in effect immediately prior to the
Change in Control; or (B) a material or substantial reduction or change in job duties, responsibilities and requirements after a Change in Control from participant’s prior duties, responsibilities and requirements immediately prior to the
Change in Control. Notwithstanding the foregoing, a termination shall not be treated as a Constructive Termination if the participant shall have specifically consented in writing to the occurrence of the event giving rise to the claim of
Constructive Termination. 
 For purposes of this paragraph 3(d)(iv), “Change in Control” shall mean the occurrence of any of the
following events with respect to the Company: (A) any consolidation or merger involving the Company if the shareholders of the Company immediately before such merger or consolidation do not own, directly or indirectly, immediately following
such merger or consolidation, more than fifty percent (50%) of the combined voting power of the outstanding voting securities or interests of the corporation (or its parent corporation) or other entity resulting from such merger or
consolidation in substantially the same proportion as their ownership of the shares of Common Stock immediately before such merger or consolidation; (B) any sale, lease, license, exchange or other transfer (in one transaction or a series of
related transactions) of all, or substantially all, of the business and/or assets of the Company or assets representing over 50% of the operating revenue of the Company; or (C) any person (as such term is used in Sections 13(d) and 14(d) of the
Exchange Act) who is not, on October 3, 2001, a Controlling Person of the Company shall become (x) the beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of over 50% of the Company’s outstanding
Common Stock or the combined voting power of the Company’s then outstanding voting securities entitled to vote generally or (y) a Controlling Person of the Company. 
 This paragraph 3(d)(iv) shall apply only to awards granted on or after October 3, 2001 to participants who on the date of grant are other than
non-employee directors. 
 4. TYPES OF AWARDS 
 (a) General. An award may be granted singularly, in combination with another award(s) or in tandem whereby exercise or vesting of one award held by a participant cancels another award held by the participant. Any award granted 

  

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under the Plan shall be evidenced by a written agreement in form and substance satisfactory to the Plan Administrator. These agreements must conform to the
Plan. The Plan Administrator may include such terms, consistent with the Plan, as it determines in its discretion. Subject to Section 2(c), an award may be granted as an alternative to or replacement of an existing award under the Plan or under
any other compensation plans or arrangements of the Company, including the plan of any entity acquired by the Company. The types of awards that may be granted under the Plan include: 
 (b) Stock Option. A stock option represents a right to purchase a specified number of Shares during a specified period at a price per Share which is no
less than that required by Section 2(c). A stock option may be in the form of an incentive stock option or in a form which does not qualify for favorable federal tax treatment. The Shares covered by a stock option may be purchased by means of a
cash payment or such other means as the Plan Administrator may from time to time permit, including without limitation (i) tendering (either actually or by attestation) Shares valued using the market price at the time of exercise,
(ii) authorizing a third party to sell Shares (or a sufficient portion thereof) acquired upon exercise of a stock option and to remit to the Company a sufficient portion of the sale proceeds to pay for all the Shares acquired through such
exercise and any tax withholding obligations resulting from such exercise; (iii) crediting toward the purchase price amounts from individuals’ deferred compensation account balances, including accrued dividend equivalent balances; or
(iv) any combination of the above. 
 (c) Stock Appreciation Right. A stock appreciation right is a right to receive a payment in cash,
Shares or a combination, equal to the excess of the aggregate market price at time of exercise of a specified number of Shares over the aggregate exercise price of the stock appreciation rights being exercised. 
 (d) Stock Award. A stock award is a grant of Shares or of a right to receive Shares (or their cash equivalent or a combination of both) in the future.
Each stock award shall be subject to such conditions, restrictions and contingencies as the Plan Administrator shall determine. These may include continuous service and/or the achievement of performance goals. The performance goals that may be used
by the Plan Administrator for such awards shall consist of cash generation targets, profit, revenue and market share targets, profitability targets as measured by return ratios, and shareholder returns. The Plan Administrator may designate a single
goal criterion or multiple goal criteria for performance measurement purposes with the measurement based on absolute Company or business unit performances and/or on performance as compared with that of other publicly-traded companies. 
 (e) Cash Award. A cash award is a right denominated in cash or cash units to receive a payment, which may be in the form of cash, Shares or a
combination, based on the attainment of pre-established performance goals and such other conditions, restrictions and contingencies as the Plan Administrator shall determine. The performance goals that may be used by the Plan Administrator for such
awards shall consist of cash generation targets, profits, revenue and market share targets, profitability targets as measured by return ratios and shareholder returns. The Plan Administrator may designate a single goal criterion or multiple goal
criteria for performance measurement purposes with the measurement based on absolute Company or business unit performance and/or on performance as compared with that of other publicly-traded companies. 
 (f) Special Provisions for Incentive Stock Options. Stock Options granted under the Plan which are intended to be Incentive Stock Options shall be

  

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specifically designated as Incentive Stock Options and shall be subject to the following additional terms and conditions: 
 (i) Dollar Limitation. The aggregate fair market value (determined as of the respective date or dates of the grant) of the Shares with respect to which
Incentive Stock Options granted to any employee under the Plan (and under any other incentive stock option plans of the Company and any parent corporation and subsidiary) are exercisable for the first time shall not exceed $100,000 in any one
calendar year. In the event that Section 422 of the Code is amended to alter the limitation set forth therein so that following such amendment such limitation shall differ from the limitation set forth in this paragraph (i), the limitation of
this paragraph (i) shall be automatically adjusted accordingly. 
 (ii) 10% Stockholder. If any employee to whom an Incentive Stock
Option is to be granted under the Plan is at the time of the grant of such option the owner of stock possessing more than 10% of the total combined voting power of all classes of stock of the Company or of any parent corporation or any subsidiary,
then the following special provisions shall be applicable to the Incentive Stock Option granted to such individual: 
 (A) The purchase price
per Share subject to such Incentive Stock Options shall not be less than 110% of the fair market value of one share of Common Stock at the time of grant; and 
 (B) The option exercise period shall not exceed five years from the date of grant. 
 (iii) Section 422.
All Incentive Stock Options shall otherwise comply with the provisions of Section 422 of the Code, as the same shall be amended from time to time. 
 5.
AWARD SETTLEMENT AND PAYMENTS 
 (a) Dividends and Dividend Equivalents. An award may contain the right to receive dividends or dividend
equivalent payments which may be paid currently credited to a participant’s account. Any such crediting of dividends or dividend equivalents or reinvestment in Shares may be subject to such conditions, restrictions and contingencies as the Plan
Administrator shall establish, including the reinvestment of such credited amounts in Share equivalents. 
 (b) Payments. Awards may be
settled through cash payments, the delivery of Shares, the granting of awards or combination thereof as the Plan Administrator shall determine. Any award settlement, including payment deferrals, may be subject to such conditions, restrictions and
contingencies as the Plan Administrator shall determine. The Plan Administrator may permit or require the deferral of any award payment, subject to such rules and procedures as it may establish, which may include provisions for the payment or
crediting of interest, or dividend equivalents, including converting such credits into deferred Share equivalents. 
 6. PLAN AMENDMENT AND TERMINATION

 (a) Amendments. The Company’s Board of Directors may amend this Plan as it deems necessary and appropriate to better achieve the
Plan’s purpose; provided however, that any amendment to the Plan which would require approval of the Company’s stockholders under applicable law, or under the rules or guidelines of any exchange or automatic quotation system on which the
Shares are traded or included, then, in any of such events, such stockholder approval of any such amendment shall also be obtained. 
  

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 (b) Plan Suspensions and Termination. The Board of Directors of the Company may suspend or terminate this
Plan at any time. Any such suspension or termination shall not of itself impair any outstanding award granted under the Plan or the applicable participant’s rights regarding such award. If not earlier terminated, this Plan shall terminate upon
the tenth anniversary of the effective date of the Plan. Unless (i) an earlier termination is specified or (ii) a later termination is specified with respect to awards granted to employees outside of the United States, awards granted under the
Plan shall terminate upon the tenth anniversary of their date of grant. 
 7. MISCELLANEOUS 
 (a) No Individual Rights. No person shall have any claim or right to be granted an award under the Plan. Neither the Plan nor any action taken hereunder
shall be construed as giving any employee or other person any right to continue to be employed by or to perform services for the Company, any subsidiary or related entity. The right to terminate the employment of or performance of services by any
Plan participant at any time and for any reason is specifically reserved to the employing entity. 
 (b) Binding Arbitration. Any dispute or
disagreement regarding participation and/or an award recipient’s rights under the Plan shall be settled solely by binding arbitration in accordance with the applicable rules of the American Arbitration Association. 
 (c) Unfunded Plan. The Plan shall be unfunded and shall not create (or be construed to create) a trust or a separate fund or funds. The Plan shall not
establish any fiduciary relationship between the Company and any participant or beneficiary of a participant. To the extent any person holds any obligation of the Company by virtue of an award granted under the Plan, such obligation shall merely
constitute a general unsecured liability of the Company and accordingly shall not confer upon such person any right, title or interest in any assets of the Company. 
 (d) Other Benefit and Compensation Programs. Unless otherwise specifically determined by the Plan Administrator, settlements of awards received by participants under the Plan shall not be deemed a part of a
participant’s regular, recurring compensation for purposes of calculating payments or benefits from any Company benefit plan or severance program. Further, the Company may adopt other compensation programs, plans or arrangements as it deems
appropriate. 
 (e) No Fractional Shares. No fractional Shares shall be issued or delivered pursuant to the Plan or any award, and the Plan
Administrator shall determine whether cash shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled. 
 (f) Special Provision Regarding Termination of Directorship. If a participant that is a member of the Board terminates his or her services as a member of
the Board by reason of death, disability or retirement (as defined by the Plan Administrator in the written agreement evidencing the award to such Board member), an award granted hereunder held by such person shall be automatically accelerated with
respect to its exercisability and shall become immediately exercisable in full for the remaining number of Shares subject to such award for 

  

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three years after the date of such termination or until the expiration of the stated term of such award, whichever period is shorter, and thereafter such
award shall terminate; provided, however, that if such person dies or suffers a disability during said three-year period after retirement such award shall remain exercisable in full for a period of three years after the date of such death or
disability or until the expiration of the stated term of such award, whichever period is shorter, and thereafter such award shall terminate. If a participant that is a member of the Board terminates his or her services as a member of the Board for
any other reason, any portion of an award granted hereunder held by such person which is not then exercisable shall terminate and any portion of such award which is then exercisable may be exercised for three months after the date of such
termination or until the expiration of the stated term of such award, whichever period is shorter, and thereafter such award shall terminate; provided, however, that if such person dies or suffers a disability during such three month period, such
award may be exercised for a period of one year after the date of such person’s death or disability or until the expiration of the stated term of such award, whichever period is shorter, in accordance with its terms, but only to the extent
exercisable on the date of such person’s death or disability. 
 10-26-06 
  

 8 of 8Employment Offer Letter to Emeka Chukwu

 Exhibit 10.26 
 [Semtech logo] 
  

			
	Mr. Emeka Chukwu	 	November 10, 2006

 [home address] 
 Dear
Emeka, 
 On behalf of Semtech Corporation, I am pleased to offer you the position of Chief Financial Officer. This is an exempt position will be based out
of our Corporate Head Quarters located in Camarillo, CA and reports directly to Mohan Maheswaran, President and CEO of Semtech Corporation. 
 COMPENSATION – BASE PAY COMPONENT 
 You will be paid $18,333.34 per month paid at the bi-weekly rate of $8,461.54. This equates
to $220,000 on an annual basis. 
 BONUS COMPONENT: 
 You will be entitled to participate in Semtech’s Cash Incentive Bonus Plan. Under the Plan you will be able to earn, at target, 50% of your annual base salary. The bonus is determined by performance to goals and objectives set for the
Company by the Board of Directors. The bonus is paid annually, but not prior to payout authorization from Semtech’s Compensation Committee (typically received within 60 days of the end of the fiscal year). To be eligible for the bonus payout,
you must be an active employee on the date of payout. 
 EQUITY AWARD GRANTS: 
 Stock options: 
 Subject to the approval of the Compensation Committee of Semtech Corporation’s Board of
Directors, you will be awarded stock options granting you the right to purchase 100,000 shares of Semtech common stock. Option grants to new hires are effective only when approved by the Compensation Committee. The Committee usually meets
quarterly to consider new hire grants. Options vest in 25% increments, with 1/4 vesting on each of the first, second, third, and fourth anniversaries of the award. The specific price, vesting schedule and other terms and conditions of the options
awarded to you will be as set forth in your formal stock option award agreement. The Committee will consider new hire awards at its first regularly scheduled meeting after the Company has filed its restated financial statements and otherwise
regained compliance with Nasdaq listing standards. The specific price, vesting schedule and other terms and conditions of the options awarded to you will be as set forth in your formal stock option award agreement. 
 Restricted Stock: 
 Subject to the approval of the Compensation Committee of Semtech’s Board of Directors, you will receive a restricted stock award for 25,000 shares of the Company’s common stock (Shares). 25% of the
covered Shares would vest on the first anniversary of your Start Date, with 1/16th of the total covered Shares
vesting on the first business day of the 8th week of each fiscal quarter thereafter (so that all of the Shares shall
be 100% vested approximately four (4) years after the grant date), and to satisfy your federal and state income and payroll tax liabilities with respect to such vesting, the Company will retain a number of Shares which have a fair market value
equal to the aggregate amount of such liabilities based on the minimum statutory withholding rates for federal and state income and payroll tax purposes that are applicable to such supplemental taxable income. The Committee will consider this award
at its first regularly scheduled meeting after the Company has filed its restated financial statements and otherwise regained compliance with Nasdaq listing standards. The specific price, vesting schedule and other terms and conditions of the
options awarded to you will be as set forth in your formal award agreement. 
 DEFERRED COMPENSATION: 
 Subject to the approval of the Compensation Committee of Semtech’s Board of Directors, you will be eligible to participate in the Semtech Deferred Compensation Plan
upon employment. You may contribute up to 100% of your base salary and the company will match dollar for dollar of the first 20% of your contributions. You will have full discretion to invest both your contributions as well as the
company’s contributions into a variety of 40 different mutual funds offered by the Principal Insurance Company through Executive Benefit Services. We will provide you with additional information during your new hire orientation. 

 Mr. Emeka Chukwu 
 Page 2 
 SIGN-ON BONUS & REPAYMENT AGREEMENT (Initials Required) 
 Semtech will pay you a lump sum sign-on bonus of $50,000, within your first month of employment, (less applicable taxes). 
 It is Semtech’s policy that employees agree to reimburse the Company for such sign-on bonuses should the employee decide to leave the Company on a voluntary basis
within the first four (4) years of employment. Your acceptance of this employment offer indicates that you agree to payback this bonus on a yearly pro-rata basis for up to four years from date of hire, any outstanding balance will be due and
payable in full and will be deducted from your final paycheck, including accrued vacation, to the extent permitted by law. By initialing below, you specifically authorize Semtech to make this deduction from your final paycheck. If the deduction from
your final paycheck is insufficient to cover the unpaid balance, you agree to remit a check to Semtech within ten business days of termination for any balance due. 
     /s/ EC     Your initials indicating acknowledgement & agreement of our repayment policy 
 EXECUTIVE LEVEL AUTO ALLOWANCE 
 The Company will pay a monthly allowance of $400.00. 
 Additionally, you will also receive: 
  

	 	•	 	 A maintenance allowance of $133.33 month ($1,600 per year) 

  

	 	•	 	 An insurance allowance of $104.16 per month ($1,250 per year). Provided the insurance includes $1 million USD umbrella coverage. Proof of this coverage must be
provided annually or at any other time requested. 

  

	 	•	 	 Actual gasoline expenditures related to business use will be reimburse as submitted on expense reports and approved by your supervisor.

 A pro-rata share of the yearly allowances will be included in each paycheck (e.g. paid bi-weekly, 1/26 of the annual allowance
will be included in each paycheck). Reminder - all gasoline expenditures must be submitted on Semtech Expenses Report Forms and approved by employee’s immediate supervisor 
 MOVING & RELOCATION EXPENSES & TEMPORARY HOUSING 
 Relative to your relocation to Camarillo,
CA, Semtech will pay a maximum of $25,000 for the reasonable and normal expenses associated with moving you, your family and your household goods to the Camarillo area within one year of employment. This includes such items as packing, transporting
and unpacking of your household goods, storage of such goods for up to three months and all necessary travel costs by coach fare or car. This may also include closing costs on the sale of your current home and purchase of a new home in this area.
All expenses must be supported by receipts, itemized on company expense reports, and approved by your manager. If you need help in coordinating a move estimate with a moving company, please let me know. 
 Additionally, the Company will offer you six (6) months of temporary housing not to exceed $18,000. At your option, any money not used for temporary housing may be
applied to other allowable relocation expenses. 
 TAXES & REIMBURSEMENT of MOVING EXPENSES 
 It is Semtech’s policy that employees agree to reimburse the Company for all relocation costs should the employee decide to leave the Company within three years on a
voluntary basis. Your acceptance of this employment offer indicates that you agree to reimburse the Company for these expenses on a monthly pro-rata basis for up to three years from date of hire. You will be responsible for all income taxes on any
reimbursed items, including relocation and temporary living allowances that may not be deductible for income tax purposes. PLEASE NOTE: Relocation reimbursements for a household move, temporary housing, as well as auto expenses, etc. are
reported as income on the W-2 as “other compensation”. 
 VACATION 
 Semtech’s vacation policy allows for weekly accruals towards 15 days of vacation per year for the first five years of service not to exceed 160 hours on the books at any time. After 10 years of service, employees
accrue at a weekly rate and are granted an additional day of vacation per year for each year of service, (ex. 11 years = 16 days, 12 years = 17 days etc), but not to exceed 20 days; maximum hours of accrual allowed on the books will be determined by
years of service. 

 Mr. Emeka Chukwu 
 Page 3 
 MEDICAL & DENTAL 
 Enrollment in Semtech Corporation’s medical and dental plans is effective on the first day of the month following employment. Semtech employees are covered for health and prescriptions by Aetna. 
 LIFE & AD&D INSURANCE 
 Semtech Corporation
carries both life and accidental death and dismemberment insurance on each employee for 2 times their annual salary or a $500K maximum at no cost to the employee. However, the employee may elect to purchase supplemental life and AD&D
insurance’s. 
 401(k) 
 You will be eligible
to join Semtech’s 401(k) Retirement Plan on the first of the month following 90 days of continuous employment. Under this plan the Company contributes a maximum amount of 65 percent of the employee’s contribution up to a maximum of the
first five percent of the employee’s base salary. The Company contribution vests linearly over a three-year period. There are eleven investments to which you may direct your contributions. 
 START DATE and DRUG TEST 
 In anticipation of your favorable
reply to this offer, I have enclosed a chain of custody form that you should take with you to one of the drug screen clinics listed. This drug screen should be taken on as soon as possible after acceptance of this letter. Please advise me
when you have completed the drug screen. 
 Your start date will be determined after acceptance of this letter. 
 REPAYMENT AGREEMENT IN EVENT OF TERMINATION (Please initial) 
 In the event that your employment with Semtech terminates for any reason other than a reduction in force, any outstanding balance owed on a Note, Relocation, Advances, Education Assistance Payments, Visa or Immigration Fees
will immediately become due and payable in full and any outstanding balance shall be deducted from the employee’s final paycheck including any accrued vacation payable. If the deduction from the Employee’s final paycheck is insufficient to
cover the unpaid balance, the employee shall within ten business days of termination remit a check to Semtech for any balance due. 
     /s/ EC     your initials indicating acknowledgement & agreement 
 SPECIAL
NOTES: Please be advised that Semtech respects any and all obligations you have with your prior employers regarding protected information you may have acquired during your employment with them. It is not our intention to acquire any trade
secrets or confidential information from you. Semtech understands your continuing obligations and encourages you to understand fully what measures you must take to ensure that no inadvertent misappropriation or prohibited disclosure occurs if you
elect to accept this offer of employment with Semtech. 
 Semtech is an at-will employer; this means that employment and compensation can be terminated with
or without cause, and with or without notice, at any time at the option of either you or the company. No terms or conditions of your employment can be modified or changed verbally in any manner. 
 If you should elect to accept this offer, we will need proof of eligibility to work in the United States on the first day of employment. I have enclosed a list of
accepted documents with this offer. 
 Please indicate your acceptance by signing this original offer letter where indicated and returning it to me as soon
as possible in the return envelope provided. However, I would appreciate a call from you informing me of your decision as well. 
  

	
	/s/ Emeka Chukwu     Nov 11, 2006
	Offer Accepted         by: Mr. Emeka Chukwu / Date

 Sincerely, 
 Ken Bauer 
 Vice President Human Resources 
 805-480-2703 
 FAX-805-480-2108

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