Amendment No. 4 to Kulicke & Soffa Industries Inc. Executive Deferred Compensation Plan

Contract Categories: Human Resources › Compensation Agreements
Summary

Kulicke & Soffa Industries Inc. is amending its Executive Deferred Compensation Plan, which benefits eligible employees. This amendment, effective October 3, 2002, changes the definition of "Special Circumstance" to mean when the company reports consolidated net losses of $225 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. The amendment is executed by the company's authorized officers.

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EX-10.(XXV) 5 dex10xxv.txt EXECUTIVE DEFERRED COMPENSATION PLAN Exhibit 10(xxv) AMENDMENT NO. 4 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 October 3, 2002, Section 1.24 of the Plan is hereby amended to read as follows: 1.24 Special Circumstance means, effective October 3, 2002, the reporting by K&S of consolidated net losses equal to or in excess of $225,000,000, 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 $225,000,000 amount. IN WITNESS WHEREOF, the Company has caused this Amendment No. 4 to be executed by its duly authorized officers this 3rd day of October 2002. [Corporate Seal] KULICKE & SOFFA INDUSTRIES, INC. Attest:__________________ By:________________________________