AMENDMENT TO THE SCG HOLDING CORPORATION 1999 FOUNDERS STOCK OPTION PLAN

Option Agreement

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ON Semiconductor Corporation | SCG HOLDING CORPORATION

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Title: AMENDMENT TO THE SCG HOLDING CORPORATION 1999 FOUNDERS STOCK OPTION PLAN
Date: 8/1/2007
Industry: Semiconductors Sector: Technology

Exhibit 10.3

AMENDMENT TO THE

SCG HOLDING CORPORATION

1999 FOUNDERS STOCK OPTION PLAN

ON Semiconductor Corporation (“Company”), formerly SCG Holding Corporation, previously approved and adopted the SCG Holding Corporation 1999 Stock Option Plan (“Plan”). The Plan has been amended from time to time. By this instrument, the Company desires to further amend the Plan to help prevent inadvertent earnings charges under the revised Statement of Financial Accounting Standards No. 123 (“FAS 123R”), “Share-Based Payment” (“Amendment”).

The provisions of this Amendment shall be effective as of the date adopted by the Company’s Compensation Committee.

Section 4.14(a) of the Plan is hereby amended to read as follows:

(a) Increase or Decrease in Issued Shares Without Consideration. Subject to any required action by the stockholders of the Company, in the event of any increase or decrease in the number of issued shares of Common Stock resulting from a subdivision or c

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