Amendment No. 3 to Kulicke & Soffa Industries Inc. Executive Deferred Compensation Plan

Summary

Kulicke & Soffa Industries Inc. has amended its Executive Deferred Compensation Plan, effective February 12, 2002. This amendment changes the definition of "Special Circumstance" to mean when the company reports consolidated net losses of $200 million or more over a period of up to two fiscal years. The amendment specifies that a Special Circumstance occurs on the date the company announces such losses. This change was made with the consent of the plan participants and is intended to clarify when certain plan provisions may be triggered.

EX-10.(XXIV) 4 dex10xxiv.txt EXECUTIVE DEFERRED COMPENSION PLAN Exhibit 10(xxiv) AMENDMENT NO. 3 TO THE KULICKE & SOFFA INDUSTRIES INC. EXECUTIVE DEFERRED COMPENSATION PLAN WHEREAS, Kulicke & Soffa Industries Inc. (the "Company") maintains the Kulicke & Soffa Industries Inc. Executive Deferred Compensation Plan (the "Plan") as amended and restated effective October 1, 1999 for the benefit of its eligible employees; and WHEREAS, the Company desires to amend the Plan, with the consent of the participants therein, to revise the definition of "Special Circumstance": NOW THEREFORE, effective February 12, 2002, Section 1.24 of the Plan is hereby amended to read as follows: 1.24 Special Circumstance means, effective February 12, 2002, the reporting by K&S of consolidated net losses equal to or in excess of $200,000,000, over a measuring period not exceeding two fiscal years of K&S (beginning with a fiscal year in which a loss for the year is reported). A Special Circumstance shall be deemed to occur on the date on which K&S makes an announcement of quarterly or annual earnings showing consolidated net losses, which together with losses reported previously during the measuring period, equal or exceed such $200,000,000 amount. IN WITNESS WHEREOF, the Company has caused this Amendment No. 3 to be executed by its duly authorized officers this 12/th/ day of February 2002. [Corporate Seal] KULICKE & SOFFA INDUSTRIES, INC. Attest:__________________ By:_____________________________