1
Exhibit 10.75
EXTENSION OF CONSULTING AGREEMENT
This Extension of Consulting Agreement is entered into at Sunnyvale, CA as
of June 7, 2001 between Catalyst Semiconductor, Inc. ("Company") and Xxxxx
Advisors, Inc. ("Consultant").
A. Recitals. Company and Consultant entered in a Consulting
Agreement on August 14, 1995, which Agreement was extended on
June 3, 1998 and modified on January 1, 1999 (the "Agreement").
Company and Consultant wish to extend and modify the Agreement as
set forth herein.
B. Duties. Paragraph 2 of the Agreement is modified to provide that
Consultant will provide advice in Santa Xxxxx County as agreed
between Consultant and the Chief Executive Officer ("CEO"). Such
duties shall include:
a. Advisor and Counselor. Consultant will provide general
advice to the CEO on business and strategic legal issues.
b. Legal Services. Consultant will provide general legal advice
and will assist in coordinating services provided by outside
counsel as requested by the CEO.
c. Negotiations. Consultant will provide assistance to the CEO
in negotiating contractual and other business relationships.
C. Term. Paragraph 4 of the Agreement is modified to provide that
the Agreement shall terminate on August 14, 2003; provided that
Company may terminate the Agreement anytime prior to that date
upon payment of a termination fee of $100,000. Any termination of
the Agreement shall in no way effect the provisions of Paragraph
5 of the Agreement, as modified herein.
D. Stock Options. Paragraph 5 of the Agreement is modified to delete
the clause "...or if Company elects to terminate this Agreement
prior to...[August 14, 2003]...."
Except as expressly modified herein, Company and Consultant ratify and affirm
all the terms and conditions on the Consulting Agreement entered into on August
14, 1995, as extended on June 3, 1998 and modified on January 1, 1999.
Catalyst Semiconductor, Inc. Xxxxx Advisors, Inc.
/s/ Xxxx Xxxxx /s/ Xxxxxx X. Xxxxx
---------------------- ----------------------
Xxxx Xxxxx, Xxxxxx X. Xxxxx,
Chairman and CEO CEO