First Amendment to the Employment Agreement of Lori Lipcaman
Exhibit 10.1
First Amendment to the Employment Agreement of Xxxx Xxxxxxxx
THIS FIRST AMENDMENT (this “First Amendment”) is made as of February 28, 2020 (the “Effective
Date”) to the Employment Agreement (the “Agreement”) made as of February 15, 2018 by and between Vishay Europe GmbH, a company with limited
liability organized under the laws of Germany (“Vishay Europe”), Vishay Intertechnology, Inc., a Delaware corporation (“Vishay”), and XXXX XXXXXXXX (“Executive”) (collectively the “Parties”).
WITNESSETH:
WHEREAS, the Parties may amend
the Agreement by agreement in writing; and
WHEREAS, the Parties desire to
amend the Agreement as set forth in this First Amendment.
NOW THEREFORE, in consideration
of the mutual covenants hereinafter contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1. Section 4.3(a) of the Agreement is hereby amended by replacing “40%” in the first sentence with “60%”.
2. Except as set forth in this First Amendment, all other terms and conditions of the Agreement shall remain unchanged and in full force and effect.
4. This First Amendment may be executed in one or more counterparts, each of which shall be deemed an original, and all such counterparts shall constitute the same instrument.
IN WITNESS WHEREOF, Executive
has executed this First Amendment, and Vishay Europe and Vishay have each caused this First Amendment to be executed in its name and on its behalf, on the date(s) below indicated.
[Signatures on next page.]
VISHAY EUROPE GMBH
By: /s/ Xxxxxx Xxxxxxxx
Name: Xxxxxx Xxxxxxxx
Title: Managing Director
Date: February 28, 2020
VISHAY INTERTECHNOLOGY, INC.
By: /s/ Xxxxxx Xxxx
Name: Xx. Xxxxxx Xxxx
Title: Chief Executive Officer
Date: February 28, 2020
EXECUTIVE
/s/ Xxxx Lipcman
Xxxx Xxxxxxxx
Date: February 28, 2020