SEC Contract Filing

Filing Date: 2015-05-05

Document Content:
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<TYPE>EX-10.3
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<FILENAME>exhibit10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<div style="TEXT-ALIGN: right; FONT-WEIGHT: bold">Exhibit 10.3</div>

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<div style="TEXT-ALIGN: center; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Second Amendment to Compensation Matters Agreement of Dieter Wunderlich</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">This second amendment to Compensation Matters Agreement (the "Second Amendment"), made as of March 3, 2015 by and between Vishay Electronic GmbH, a German company ("Vishay Electronic") and an indirect wholly-owned subsidiary of Vishay Intertechnology, Inc., a Delaware corporation ("Vishay"), and DIETER WUNDERLICH ("Executive") (collectively the "Parties").</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">WHEREAS, Executive is employed by Vishay Electronic and is a Party to that certain Compensation Matters Agreement made between the Parties as of November 11, 2011, as amended by the first amendment to the Compensation Matters Agreement made between the Parties as of March 4, 2014 (collectively, the "Compensation Matters Agreement");</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">WHEREAS, Vishay Electronic and Executive may amend the Compensation Matters Agreement by mutual agreement in writing; and</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">&#160;WHEREAS, the Company and Executive desire to amend the Compensation Matters Agreement as set forth in this Second Amendment.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">NOW THEREFORE, in consideration of the premises and the mutual benefits to be derived herefrom and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:</div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">1.</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">Paragraph two of the Compensation Matters Agreement is hereby amended by replacing "2012" and "35%" in the first sentence with "2015" and "50%", respectively.</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">2.</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">The amendments to the Compensation Matters Agreement made by paragraph 1 of this Second Amendment shall be effective as of March 3, 2015.</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">3.</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">Except as set forth in this Second Amendment, all other terms and conditions of the Compensation Matters Agreement shall remain unchanged and in full force and effect.</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 36pt"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">4.</font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">This Second Amendment may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original and all of which shall constitute the same instrument.</font></div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">IN WITNESS WHEREOF, each of the parties hereto has caused this Second Amendment to be executed on its behalf as of the date first above written.</div>

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<div style="TEXT-ALIGN: left; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">VISHAY ELECTRONIC GMBH</div>

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<div style="TEXT-ALIGN: left"><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">By: <font style="FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt; FONT-WEIGHT: normal"><u>/s/ Werner Gebhardt</u></font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font><font style="LETTER-SPACING: 11pt; FONT-SIZE: 1px">&#160;&#160;</font></font><font style="FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt">By: <font style="FONT-VARIANT: normal; FONT-STYLE: normal; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-SIZE: 12pt; FONT-WEIGHT: