Attached files
| file | filename |
|---|---|
| 8-K - STANDARD MICROSYSTEMS CORP | v165035_8k.htm |
| EX-10.1 - STANDARD MICROSYSTEMS CORP | v165035_ex10-1.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 |
Exhibit
10.5
Amendment
to Letter Agreement of Kris Sennesael and Standard Microsystems Corporation
dated December 8, 2008
Whereas
Kris Sennesael (“Employee”) and Standard Microsystems Corporation (“SMSC” or the
“Company”) entered into a letter agreement dated December 8, 2008 (the
“Letter”);
Whereas
Employee and the Company desire to amend the Letter to, inter alia, reflect the
new severance benefits to which the Employee shall be entitled under the
Company’s recently amended Standard Microsystems Corporation Severance Plan and
certain other matters as set forth below;
Now,
therefore, for good and adequate consideration, receipt of which is hereby
acknowledged, the parties hereto agree as follows:
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1.
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The
Section in the Letter entitled Executive Severance Benefit is hereby
deleted in its entirety and replaced with the following
text:
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Executive Severance
Benefit
You will
be eligible for the Executive Salary Grade Severance Benefit in accordance with
the terms and conditions of the Company’s Severance Plan, as may be amended from
time to time.
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2.
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A
new section is hereby added to the Letter as set forth
below:
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Executive Health
Benefit
You will
be eligible to participate in the Executive Health Management Program made
available by the Company.
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3.
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The
last sentence in the section entitled Annual Stock Appreciation Rights
Award is hereby modified by deleting the period at the end of the sentence
and adding the following text:
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or to
increase or decrease the number of SARS or alternative equity based instruments
awarded.
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4.
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Except
as specifically modified herein, all terms and conditions of the Letter
shall remain in full force and
effect.
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Accepted
and agreed:
Standard
Microsystems Corporation
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By:
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/s/
Christine King
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/s/ Kris
Sennesael
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|||
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Christine
King
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Kris
Sennesael
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||||
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President
and Chief Executive Officer
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Vice
President and Chief
Financial Officer
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Date:
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11/7/09
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Date:
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11/4/09
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