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Title: |
Employment Agreement |
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Date: |
2001 |
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Preview shows 4KB of 39KB total |
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Price: |
$35 |
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ID: |
#1221399 |
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EMPLOYMENT AGREEMENT
This Employment Agreement (the "Agreement"), with an Effective Date of March 21, 2001, is made and entered into between Scott J. Landstrom (the "Executive") and Lam Research Corporation, a Delaware corporation (the "Company").
R E C I T A L S
A. The Company and Executive desire to enter into this Agreement with respect to the Executive's employment with the Company.
B. Certain capitalized terms used in the Agreement are defined in Section 5 below.
In consideration of the mutual covenants herein contained, and in consideration of the employment of Executive by the Company, the parties agree as follows:
1. Duties and Scope of Employment.
(a) Position. During the Employment Period (as defined in Section 2 (a) below), the Executive shall serve as a Vice President of the Company. The duties and responsibilities of Executive shall include the duties and responsibilities as the Office of the Chief Executive Officer and the Board of Directors of the Company (the "Board") may, from time to time, reasonably assign to Executive, in all cases to be consistent with Executive's offices and positions.
(b) Obligations. Executive shall comply with all of Lam's policies and procedures governing employment. During the Employment Period, the Executive shall devote his full business efforts and time to the Company. The foregoing, however, shall not preclude the Executive from engaging in such activities and services as do not interfere or conflict with his responsibilities to the Company.
2. Employment Period.
(a) Term. This Agreement shall begin upon the Effective Date and shall continue until March 20, 2006 unless earlier terminated as set forth herein (the "Employment Period"). Except as otherwise provided herein, the Employment Period shall end on the Termination Date. For the period March 21, 2001 through April 22, 2001, Executive will be on unpaid leave from the Company, although he will be an employee of the Company during such period.
(b) Termination.
(i) By the Company. The Company may terminate the Executive's employment for Cause (as defined in Section 5(a) below), by giving the Executive thirty (30) days' advance written notice, subject, however, to the cure provisions of such Section. The Company may terminate the Executive's employment with the Company for any other reason (which termination shall be regarded as an Involuntary Termination of the Executive) by giving the Executive ninety (90) days' advance notice in writing. Any waiver of notice shall be valid only if it is made in writing and expressly refers to the applicable notice requirement of this Section 2(b). Termination under this section shall become effective at the end of the notice period (unless cured prior to the expiration of such period).
(ii) By the Executive. The Executive may terminate his employment with the Company by reason of Involuntary Termination (as defined in Section 5(c) below) by giving the Company thirty (30) days' advance written notice, subject, however, to the cure provisions of such Section. The Executive may terminate his employment with the Company at any time for any other reason ("Voluntary Resignation") by giving the Company ninety (90) days' advance written notice. Any waiver of notice shall be valid only if it is made in writing and expressly refers to the applicable notice requirement of this Section 2(b). Termination under this section shall become effective at the end of the notice period (unless cured prior to the expiration of such period).
(c) Death. The Executive's employment shall terminate immediately in the event of his death. The Company shall pay to the Executive's estate any earned but unpaid salary and vacation pay accrued to the date of her death.
(d) Disability. The Company may terminate the Executive's employment for Disability (as defined in Section 5(b) below) by giving the Executive ninety (90) days' advance notice in writing. In the event the Executive resumes the performance of substantially all of his duties hereunder before the termination of his employment under this Section 2(d) becomes effective, the notice of termination shall automatically be deemed to have been revoked.
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