Re: Change to your Amended and Restated Executive AgreementMicron Technology Inc • December 21st, 2023 • Semiconductors & related devices
This letter confirms your agreement to a change in your Amended and Restated Executive Agreement dated January 1, 2022 with Micron Technology, Inc. (your “Agreement”).
Micron Technology, Inc. Executive Officer Cash Severance Policy (the “Policy”)Micron Technology Inc • December 21st, 2023 • Semiconductors & related devices
Micron Technology, Inc. (the “Company”) will not enter into any new employment agreement, severance agreement or separation agreement with any officer as defined under Rule 16a-1(f) of the Securities Exchange Act of 1934, as amended (“Executive Officer”) or establish any new severance plan or policy covering any Executive Officer that provides for Cash Severance Benefits exceeding 2.99 times the sum of the Executive Officer’s base salary plus target bonus opportunity without seeking shareholder ratification of such agreement, plan or policy. In addition, any cash payments that may be owed under any existing agreement, plan or policy entered into with an Executive Officer prior to the adoption of this Policy will be reduced to the extent necessary to not exceed 2.99 times the sum of the Executive Officer’s base salary plus target bonus opportunity, unless shareholder ratification is obtained.
AMENDED AND RESTATED SEVERANCE AGREEMENTSeverance Agreement • December 21st, 2023 • Micron Technology Inc • Semiconductors & related devices • Idaho
This Amended and Restated Severance Agreement (the “Agreement”) is made and entered into by and between Micron Technology, Inc., a Delaware corporation (the “Company”), and Scott J. DeBoer, an individual and Officer of the Company, (the “Officer”), and is effective as of the Effective Date (as defined below).
