SEC Contract Filing

Filing Date: 2019-01-02

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d683183dex101.htm
<DESCRIPTION>EX-10.1
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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:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>E<SMALL>MPLOYMENT</SMALL> A<SMALL>GREEMENT</SMALL> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">T<SMALL>HIS</SMALL> E<SMALL>MPLOYMENT</SMALL> A<SMALL>GREEMENT</SMALL> (the &#147;Agreement&#148;) is entered into by and between <B>Sherri
Luther</B> (the &#147;Executive&#148;) and <B>LATTICE SEMICONDUCTOR CORPORATION</B>, a Delaware corporation (the &#147;Company&#148;) as of January&nbsp;2, 2019 (the &#147;Effective Date&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>1.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B>Duties and Scope of Employment</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<B>Position</B>. For the term of her employment under this Agreement (&#147;Employment&#148;), the Executive will
serve as the Corporate Vice President&#151;Chief Financial Officer (&#147;CFO&#148;). The Executive shall report directly to the Company&#146;s Chief Executive Officer (the &#147;CEO&#148;). Executive will render such business and professional
services in the performance ofher duties, consistent with the Executive&#146;s position within the Company, as will reasonably be assigned to her by the CEO. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<B>Obligations</B>. The Executive shall have such duties, authority and responsibilities that are commensurate with
being the Company&#146;s senior executive officer responsible for the Company&#146;s financial affairs, including financial planning, management of financial risks, accounting, record-keeping, and financial reporting. During the term of her
Employment, the Executive will devote Executive&#146;s full business efforts and time to the Company. For the duration of her Employment, Executive agrees not to actively engage in any other employment, occupation, or consulting activity for any
direct or indirect remuneration without the prior approval of the Board (which approval will not be unreasonably withheld); provided, however, that Executive may, without the approval of the Board, serve in any capacity with any civic, educational,
or charitable organization, provided such services do not interfere with Executive&#146;s obligations to the Company. Executive shall comply at all times with the Company&#146;s Code of Conduct and all other applicable Company policies. Executive
shall perform her duties primarily at the Company&#146;s corporate facility in San Jose, California. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(c)&nbsp;&nbsp;&nbsp;&nbsp;<B>Effective Date</B>. The Executive shall commence full-time Employment as CFO under this Agreement on the
Effective Date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>2.</B>&nbsp;&nbsp;&nbsp;&nbsp;<B>Cash and Incentive Compensation</B>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(a)&nbsp;&nbsp;&nbsp;&nbsp;<B>Salary</B>. As of the Effective Date and thereafter, the Company shall pay Executive as compensation for her
services a base salary at a gross annual rate of not less than $345,000 (such annual salary, as is then in effect, to be referred to herein as &#147;Base Salary&#148;). The Base Salary will be paid periodically in accordance with the Company&#146;s
normal payroll practices and be subject to the usual, required withholdings, provided, however, that Executive shall receive <FONT STYLE="white-space:nowrap">pro-rata</FONT> payments of Base Salary no less frequently than once per month.
Executive&#146;s Base Salary will be subject to review by the Compensation Committee of the Board (the &#147;Committee&#148;) not less than annually, and adjustments will be made in the discretion of the Committee. </P>
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<TD VALIGN="top">Executive Officer Employment Agreement</TD>
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<TD VALIGN="top" ALIGN="right">Page 1 of 19</TD></TR></TABLE>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:8%; font-size:10pt; font-family:Times New Roman">(b)&nbsp;&nbsp;&nbsp;&nbsp;<B>Incentive Bonuses</B>. For the Company&#146;s fiscal year 2019
and beyond, Executive shall be a participant in a Cash Incentive Plan as established by the Company (the &#147;CIP&#148;). Under the CIP, Executive shall be eligible to be considered for an annual fiscal year incentive payment based on a percentage
of Executive&#146;s Base Salary as of the beginning of such fiscal year or such higher figure that the Committee may select (such annual amount is the &#147;Target Amount&#148;), provided Executive is employed at the end of the annual fiscal year.
Executive&#146;s initial target perce