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EXHIBIT 10.2
COHU, INC RETIREE HEALTH BENEFITS
AGREEMENT
This Agreement originally made and entered into as
of , between COHU, INC., a
Delaware corporation (the "Company") and
(the "Officer"), is hereby
amended as of December 23, 2008, in order to comply with the
requirements of Section 409A of the Internal Revenue Code of
1986, as amended (the "Code").
RECITALS
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A.
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Officer [is/was] employed as the
.
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B.
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By execution of this Agreement, Officer and Company desire to
clarify the nature and extent of health care insurance Officer is
to be provided by the Company.
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AGREEMENT
NOW, THEREFORE, for valuable consideration, the
receipt of which is hereby acknowledged, the parties hereto to
agree as follows:
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1.
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Health Care Insurance . Company shall provide Officer
health care insurance subject to the terms and provisions contained
herein.
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1.1 Employment with Company . As long as
Officer is employed by the Company in a position of similar or
higher responsibility, the Company shall provide Officer and his
dependents, who reside in San Diego County, with health care
insurance pursuant to the Group Health Maintenance Organization
Plan ("HMO Plan"), Hospitalization Care Program ("Hospitalization
Program"), Group Dental Plan ("Group Dental Plan") or such other
medical and/or dental insurance alternatives which are offered to
all employees of the Electronics Division of the Company and Delta
Design, Inc. (The HMO Plan, Hospitalization Program, the Group
Dental Plan and such other alternatives shall hereinafter be
collectively referred to as the "Plans"). The terms of the Plans
are incorporated herein by this reference. Copies of summary plan
descriptions of the Plans in effect on the date of this Agreement
are attached hereto as Exhibits. Officer acknowledges that he has
received copies of summary plan descriptions and the Plans and is
familiar with their contents. In addition to the benefits provided
by the Plans, Officer shall be entitled to reimbursement for all
health care expenses not covered by the Plans, including but not
limited to reimbursement of deductibles applicable to the
Plans.
1.2 Retirement . Officer, and his
dependents, shall be entitled to receive the health care insurance
specified in Section 1.1 above for life if he meets any one of
the following criteria:
1.2.1 Officer retires at the age of 55 or older and
has been employed by the Company for a period of at least
20 years;
1.2.2 Officer retires at the age of 60 or older and
has been employed by the Company for a period of at least
15 years; or
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1.2.3
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Officer retires at the age of 65 or older.
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1.3 MediCare Offset . At such time as the
Officer shall be eligible to receive benefits from MediCare or any
similar federal or state health insurance program (collectively the
"MediCare Benefits") such MediCare Benefits shall represent the
primary source of coverage and the Company’s obligat
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