Change of Control Agreement (June 15th, 2011)
This Change of Control Agreement (the Agreement) is made and entered into effective as of June 9, 2011, by and between Theodore L. Tewksbury III (Employee) and Integrated Device Technology, Inc., a Delaware corporation (the Company).
Salary: $500,000.00 Annually; Payable Biweekly Status: Full Time / Exempt Stock Options: You Will Be Recommended for a Stock Option Grant to Purchase 500,000 Shares of IDT Common Stock, Which Will Vest Over a Four Year Period, Assuming Your Continued Service to IDT. The Granting of Your Stock Options Will Occur on or About the 15th Day of the Month Following the Completion of the Month in Which You Begin Employment With IDT, Subject to Approval by Our Board of Directors. Your Stock Options Will Have a Per Share Exercise Price Equal to the Closing Price of IDT Common Stock on the Last Workday P (February 20th, 2008)
This offer is pending acceptable reference qualification and background verification. In addition, IDT requires each candidate for employment to submit to a drug test which will be administered through an independent laboratory. Your employment is contingent upon you successfully passing a pre-employment drug screen.