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Exhibit 10.1
SILICON LABORATORIES INC.
AMENDMENT TO STOCK OPTIONS AGREEMENT
This Amendment to
Stock Options Agreement (this “Amendment”) dated
effective as of July 19, 2007 is entered into between Silicon
Laboratories Inc. (the “Corporation”) and William G.
Bock (“Optionee”).
WHEREAS , by their
original terms, certain stock options held by Optionee would cease
to be exercisable on November 8, 2007 (the expiration of the
12-month period measured from Optionee’s cessation of Board
service).
WHEREAS , Optionee
is continuing to provide Service to the Corporation and Optionee
and the Corporation intend that the exercisability of those stock
options that were held by Optionee and vested upon Optionee’s
cessation of Board service should be tied to Service (as defined in
Plan) rather than Board service.
NOW, THEREFORE , it
is hereby agreed as follows:
1.
Amendment of Options . This Amendment
amends the terms of Stock Option Agreements listed below (the
“Option Agreements”):
|
|
Grant No.
|
|
|
Grant Date
|
|
Number of Shares
|
|
Exercise Price
|
|
|
2000119
|
|
3/23/2000
|
|
|
23,000
|
|
|
|
$
|
31.00
|
|
|
|
2000678
|
|
4/24/2002
|
|
|
5,000
|
|
|
|
$
|
30.15
|
|
|
|
2000998
|
|
4/24/2003
|
|
|
5,000
|
|
|
|
$
|
31.15
|
|
|
|
2001811
|
|
12/10/2004
|
|
|
5,000
|
|
|
|
$
|
31.77
|
|
|
|
2001876
|
|
4/21/2005
|
|
|
5,000
|
|
|
|
$
|
31.23
|
|
|
|
2001405
|
|
4/29/2004
|
|
|
5,000
|
|
|
|
$
|
50.03
|
|
|
Section 5 of each of the Option Agreements is
hereby amended and restated in its entirety as follows:
“Cessation of
Service . The option term specified
in Paragraph 2 shall terminate (and this option shall cease
to be outstanding) prior to the Expiration Date should any of
the following provisions become applicable:
(i)
Should Optionee cease to remain in Service for any reason
(o
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