SEC Contract Filing

Filing Date: 2024-02-29

Document Content:
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<TYPE>EX-10.2
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<DESCRIPTION>EXHIBIT 10.2
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 <div style="text-align: right; font-family: 'Times New Roman',Times,serif; font-size: 12pt;"><font style="font-weight: bold;"> Exhibit 10.2</font><br>
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 <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">VISHAY INTERTECHNOLOGY, INC.<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br>
 </font>63 LANCASTER AVENUE<font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br>
 </font>MALVERN, PENNSYLVANIA 19355</div>
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 <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">February 27, 2024</div>
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 <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Mr. Jeffrey Webster</div>
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 <td style="width: 36pt; vertical-align: top;"><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Re:</font><font style="font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</font></td>
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 <div style="font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 1pt;">[</font><font style="font-size: 12pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><u>Amendment to Amended and Restated Employment Agreement</u></font></div>
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 <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Dear Jeffrey:</div>
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 <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Reference is made to that certain Amended and Restated Employment Agreement entered into on July 14, 2022 and effective as of January 1, 2023 (the &#8220;<font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif;"><u>Employment Agreement</u></font>&#8221;). Effective as of the date hereof, the Employment Agreement is hereby amended as described below:</div>
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 <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">1.</div>
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 <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Section 4.2 of the Employment Agreement is replaced in its entirety with the following:</div>
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 <div style="text-align: justify; text-indent: 18pt; margin-left: 54pt; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">4.2&#160;&#160; <font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif;"><u>Bonus</u></font>.&#160;&#160;
 For each fiscal year ending both during the Term and prior to the time that notice of termination is given by either party, Executive shall be eligible to earn an annual performance bonus (&#8220;<font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif;"><u>Bonus</u></font>&#8221;) payable in cash, with a target opportunity at least equal to 100% of his Base Salary.&#160; The actual amount of Bonus payable to Executive shall be determined by the Compensation Committee, and shall be
 based upon the achievement of certain corporate and/or individual performance goals to be established by the Compensation Committee in its sole discretion.<font style="font-size: 12pt; font-family: 'Times New Roman',Times,serif;"> The
 Bonus, if paid, shall not be deemed to form part of Executive's salary for any purpose, including for determining pension and severance contributions or other employment benefits.&#160; The Bonus is a limited, conditional and specific benefit and, if
 paid, shall not create any contractual or other right to receive any similar award, or benefit in lieu of any similar award, in the future.</font></div>
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 <div style="text-align: justify; font-family: 'Times New Roman',Times,serif; font-size: 12pt;">2.</div>
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 <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;">Section 4.3(a) of the Employment Agreement is amended by the replacement of &#8220;January 1<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup>&#8221; with the &#8220;March 1<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">st</sup>&#8221;.</div>
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