EXHIBIT 10.26
AMENDMENT TO EMPLOYMENT AGREEMENT
Between DSP Group Inc., DSP Semiconductors Ltd. and Xxx Xxxxxx, hereby referred
to as "The Executive." Effective date November 3, 1997.
1. In the event the Executive terminates the agreement without Good Reason or
the Corporation terminates the agreement for Cause, no further payments
shall be made and the Executive shall be subject to a one year prohibition
against competition in addition to the customary prohibitions against
disclosure of trade secretes.
2. The base compensation of the Executive shall be fixed at the commencement of
each year, but shall not be subject to reduction during the term of the
agreement.
3. Upon a change in control of the Corporation or if the agreement is
terminated by the Executive for Good Reason or by the Corporation without
Cause, all rights of the Executive under the contract would continue for two
years and all options held by the Executive would accelerate and immediately
vest and be exercisable in whole or in part at any time during the remaining
two-year term of the agreement.
4. In the event of death or permanent disability of the Executive all options
shall accelerate and immediately vest.
5. For purposes of these agreements, "Cause" would be defined as willful
failure to perform the Executive's duties after notice and a reasonable
opportunity to cure the breach or conviction of a felony.
/s/ XXXX XXXXXX /s/ XXX XXXXXX
------------------------------------- -------------------------------------
DSP Group Inc. Xxx XXXXXX
/s/ XXXX XXXXXX
-------------------------------------
DSP Semiconductors Ltd.
