LEADIS TECHNOLOGY, INC. Form of Change in Control Severance Benefits Agreement for CEO Effective as of June , 2006Leadis Technology Inc • June 14th, 2006 • Semiconductors & related devices • California
The Board of Directors (the “Board”) of Leadis Technology, Inc. (the “Company”) has determined that it is in the best interests of the Company and its stockholders to assure that the Company will continue to have your dedication and services notwithstanding the possibility or occurrence of a Change in Control (as defined below). The Board believes it is imperative to diminish any distraction that you might face by virtue of the personal uncertainties created by a pending or possible Change in Control and to encourage your full attention and dedication to the Company currently and in the event of any possible or pending Change in Control. Accordingly, the Board desires to provide you with a severance benefits arrangement in the event of a qualifying termination of employment within 24 months after a Change in Control that ensures that your compensation and benefits expectations will be satisfied and that is competitive with those of other comparable companies. In order to accomplish the
