INDEMNITY AGREEMENTIndemnification Agreement • November 13th, 2002 • Exar Corp • Semiconductors & related devices • Delaware
THIS INDEMNITY AGREEMENT (“Agreement”) is made and entered into this day of 20 by and between EXAR CORPORATION, a Delaware corporation (“Corporation”), and (“Agent”).
September 26, 2002 Name Title Company Address Re: Letter Agreement dated December 6, 2000 (“Letter Agreement”) Dear:Letter Agreement • November 13th, 2002 • Exar Corp • Semiconductors & related devices
On July 30, 2002, the President signed into law the “Sarbanes-Oxley Act of 2002” (“Sarbanes-Oxley Act”). The Sarbanes-Oxley Act has and will result in broad corporate and accounting reform for public companies and the accounting firms that audit them. Section 402 of the Sarbanes-Oxley Act prohibits public companies from extending, maintaining or arranging for the extension or renewal of credit for executive officers and directors except for narrowly defined situations. In the absence of clear guidelines from the SEC or other regulators at this time indicating otherwise, the Company has concluded that the arrangements set forth in the Letter Agreement are prohibited and compliance with Section 402 of the Sarbanes-Oxley Act requires that the Letter Agreement be terminated.
