SEC Contract Filing

Filing Date: 2015-08-10

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d60409dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RANDHIR THAKUR SEPARATION AGREEMENT AND RELEASE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Separation Agreement and Release (&#147;Agreement&#148;) is made by and between Randhir Thakur (&#147;Executive&#148;) and Applied
Materials, Inc. (the &#147;Company&#148;) (jointly referred to as the &#147;Parties&#148; and each individually referred to as a &#147;Party&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
Executive is currently employed by the Company as its Executive Vice President, General Manager, Silicon Systems Group; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
Executive signed the standard Employee Agreement with the Company dated May&nbsp;22, 2008 (the &#147;Employee Agreement&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
Executive&#146;s employment with the Company will terminate on a date (the &#147;Termination Date&#148;) that will not be later than October&nbsp;30, 2015; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Executive holds stock-settled equity awards granted under, and subject to the terms and conditions of the Company&#146;s Employee
Stock Incentive Plan (the &#147;Plan&#148;) and the related equity award agreements (collectively with the Plan, the &#147;Stock Agreements&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Executive holds an award of cash-settled performance units (the &#147;Cash-Settled Performance Units&#148;) granted under, and
subject to the terms and conditions of the Company&#146;s Employee Stock Incentive Plan (the &#147;Plan&#148;) and the related performance units agreements (collectively with the Plan, the &#147;Cash-Settled Units Agreements&#148;); and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Parties wish to resolve any and all disputes, claims, complaints, grievances, charges, actions, petitions, and demands that the
Executive may have against the Company and any of the Releasees as defined below, including, but not limited to, any and all claims arising out of, or in any way related to Executive&#146;s employment with, or separation from, the Company; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual promises made herein, the Company and Executive hereby agree as follows: </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COVENANTS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"><U>Consideration</U>. </TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">a. <U>Continuing Employment</U>. The Company will continue to employ
Executive on an at-will basis in his role as Executive Vice President, General Manager, Silicon Systems Group up to and including the Termination Date, and will continue to pay Executive his base salary in accordance with the Company&#146;s regular
payroll practices up to and including the Termination Date. Prior to the Termination Date, Executive will perform the reasonable duties assigned to him by Gary Dickerson, the Company&#146;s President and Chief Executive Officer, or
Mr.&nbsp;Dickerson&#146;s delegate, to effectuate a smooth and orderly transition of his roles and responsibilities. Executive will continue to comply with his Employee Agreement as well as all other Company policies provided or made available to
Executive in writing. During his employment with the Company, Executive will continue to be eligible to participate in all benefits and incidents of employment, including the Company&#146;s health insurance plan, and he will continue to accrue paid
time off (PTO). In addition, Executive will continue to vest in Executive&#146;s outstanding stock-settled equity awards and Cash-Settled Performance Units on the same terms, schedule and conditions as set forth in the Stock Agreements or the
Cash-Settled Units Agreements, as applicable, governing such awards. The Company and Executive may terminate Executive&#146;s employment with the Company prior to October&nbsp;30, 2015, for any reason or no reason; provided, however, if the Company
terminates Executive&#146;s employment prior to October&nbsp;30, 2015, without Cause (as defined below), Executive will be eligible for the payments and benefits described in this Agreement (such a termination without Cause prior to October&nbsp;30,
2015, and Executive&#146;s termination on October&nbsp;30, 2015 are each referred to as a &#147;Qualifying Termination&#148; and the date of any such Qualifying Termination is referred to as the &#147;Qualifying Termination Date&#148;). </P>

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