FIRST AMENDMENT TO
INTERNATIONAL RECTIFIER CORPORATION
GRANTOR TRUST FOR RETIREMENT BENEFITS
FOR XXXX XXXXX
WHEREAS, International Rectifier Corporation (the "Company") and Union Bank
of California, N.A. (the "Trustee") have previously entered into an agreement
establishing the International Rectifier Corporation Grantor Trust For Xxxx
Xxxxx (the "Agreement"); and
WHEREAS, Section 11 of the Agreement provides that the Agreement may be
amended by a written instrument signed by the Trustee and the Company; and
WHEREAS, the Company and the Trustee have determined that it is
desirable to amend the Agreement as set forth herein:
NOW, THEREFORE, the Company and the Trustee agree that the first sentence
of Section 2(a) of the Agreement shall be amended in its entirety to read as
follows:
"Upon the Corporation's termination of Xxxx Xxxxx'x employment for any
reason other than Cause, or upon Xxxx Xxxxx'x resignation following a
Change in Control of the Company (as "Cause" and "Change in Control" are
defined in the Employment Agreement), or upon Xxxx Xxxxx'x exercise of his
right to reduce his pension in accordance with Section 3(c) of the
Employment Agreement, the Company or such party as it shall designate in
writing to the Trustee shall deliver to the Trustee a written schedule (a
"Payment Schedule") that indicates the amounts payable to Xxxx Xxxxx or his
spouse, or that provides a formula or other instructions acceptable to
Trustee for determining the amounts so payable, the form in which such
amount is to be paid (as provided for under the Employment Agreement), and
the time of commencement for payment of such amounts."
This amendment shall be effective as of the date set forth below.
IN WITNESS WHEREOF, this First Amendment to International Rectifier
Corporation Grantor Trust for Retirement Benefits For Xxxx Xxxxx is executed
this 22 day of June, 1998.
INTERNATIONAL RECTIFIER CORPORATION
By /s/ Xxxxxx X. Xxxxxxx
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UNION BANK OF CALIFORNIA, N.A. TRUSTEE
By: /s/ Xxx Xxxxx
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By: /s/ Xxxxxxxxx Xxxxxxxxx
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