December 12, 2007 Mr. Denis Regimbal Agere Systems Inc. 1110 American Parkway NE Allentown, PA 18109 Dear Denis, As you know, on or about April 2, 2007 you received a stock option grant of 100,000 shares vesting over four years, and 50,000 time-based...
Exhibit 10.33.2
December 12, 2007
Xx. Xxxxx Xxxxxxxx
Agere Systems Inc.
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Xxxxxxxxx, XX 00000
Agere Systems Inc.
0000 Xxxxxxxx Xxxxxxx XX
Xxxxxxxxx, XX 00000
Dear Denis,
As you know, on or about April 2, 2007 you received a stock option grant of 100,000 shares vesting
over four years, and 50,000 time-based restricted stock units vesting over two years. These awards
were granted under LSI Corporation’s 1991 Equity Incentive Plan and 2003 Equity Incentive Plan.
Subsequently on November 12, 2007, we entered into a separation agreement whereby we agreed that on
your termination date all of your unvested options and restricted stock units were to vest in
accordance with the provisions of the applicable agreements and plans pursuant to which they were
granted.
This will confirm our mutual understanding that the terms of the April 2 awards and LSI
Corporation’s 1991 Equity Incentive Plan and 2003 Equity Incentive Plan do not allow for the
unvested equity grants issued under those plans to accelerate and vest upon the termination of your
employment. Of course, all of the unvested equity grants issued under the Agere Systems Inc. 2001
Long Term Incentive Plan will in fact accelerate and vest on your termination date.
Denis, please sign below to indicate your understanding of the terms set forth above.
Agere Systems Inc. | ||||
/s/ Xxxxx Xxxxxxxx
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By: /s/ Xxxx Xxxxx
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Xxxxx Xxxxxxxx
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Name: Xxxx Xxxxx | |||
Title: Vice President | ||||
Date: December 12, 2007
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Date: December 12, 2007 |