Attached files
| file | filename |
|---|---|
| 8-K - STANDARD MICROSYSTEMS CORP | v165035_8k.htm |
| EX-10.4 - STANDARD MICROSYSTEMS CORP | v165035_ex10-4.htm |
| EX-10.3 - STANDARD MICROSYSTEMS CORP | v165035_ex10-3.htm |
| EX-10.2 - STANDARD MICROSYSTEMS CORP | v165035_ex10-2.htm |
| EX-10.5 - STANDARD MICROSYSTEMS CORP | v165035_ex10-5.htm |
Exhibit
10.1
Amendment
No. 1 to the Standard Microsystems Corporation 2008 Supplemental Executive
Retirement Plan
Whereas
Standard Microsystems Corporation (“SMSC”) maintains a Supplemental Executive
Retirement Plan (“Plan”) that was amended and restated as of January 1,
2008;
Whereas
SMSC desires to amend the Plan (the “Amendment”), to, inter alia, freeze the
benefit level for existing participants in the Plan, close the Plan to new
Participants, and correct certain typographical errors in the Plan;
Now,
therefore, the Plan is hereby amended as follows:
1. Section
1.5 of the Plan is hereby amended by adding the following language after the
last sentence in Section 1.5:
Notwithstanding anything to the
contrary in this Plan, the Base Annual Salary for Messrs. Peter Byrnes, Aaron
Fisher, Robert Hollingsworth, James Mulski, Walter Siegel and Johnson Tan shall
mean One Hundred and Five Percent (105%) of the annual base salary being earned
by each of them as of February 28, 2010.
2. Section
2.1 of the Plan is hereby amended by adding the following text after the last
sentence in Section 2.1:
The Plan has been closed to new
Participants as of November 3, 2009.
3. Section
5.1 of the Plan is hereby amended by changing the numbers “5.3” and “5.7” in the
first paragraph of that Section to “5.4” and “5.8” respectively.
4.
Section 3.3 of the Plan is hereby amended by deleting the text of this section
in its entirety and replacing it with the following new text:
In the event of any Change in Control,
notwithstanding any provisions of the Plan to the contrary, all Participants who
are employees of the Company at that time shall immediately become
100% vested in their benefits payable pursuant to the Plan.
5. Except
as expressly amended herein all terms and conditions of the Plan shall remain in
full force and effect. All capitalized terms not defined herein
shall have the meaning set forth in the Plan.
6. This
Amendment shall be effective upon its execution by an officer of
SMSC.
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Standard
Microsystems Corporation
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By:
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/s/
Kris Sennesael
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Its:
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Vice
President and Chief Financial Officer
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