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KLIC > SEC Filings for KLIC > Form 8-K on 10-Oct-2013All Recent SEC Filings




Entry into a Material Definitive Agreement, Financial Statements a

Item 1.01 Entry into a Material Definitive Agreement

On October 7, 2013, the Board of Directors (the "Board") of Kulicke & Soffa Industries, Inc. (the "Company") approved a form of indemnification agreement for directors (the "Indemnification Agreement"). On October 8, 2013, the Company entered into an Indemnification Agreement with each of the following directors:
MacDonell Roehm, Jr., Brian R. Bachman, John A. O'Steen, Garret E. Pierce, Chin Hu Lim, Gregory F. Milzcik and Mui Sung Yeo. The Board approved the Indemnification Agreement based on its determination that it is in the best interests of the Company and its shareholders to attract and retain capable directors by providing them with indemnification and insurance coverage pursuant to express contractual rights. The Company anticipates that it will enter into a substantially similar Indemnification Agreement with any new director. The Indemnification Agreement generally provides, among other things, that the Company will indemnify the applicable director, except as expressly prohibited by the laws of the Commonwealth of Pennsylvania, against any and all damages, losses, liabilities, settlements, and all other costs and expenses incurred in connection with any threatened, pending or completed claim or proceeding, whether brought by or in the right of the Company or by third parties (subject to certain exceptions set forth in the Indemnification Agreement), to the extent such amounts are related to acts, omissions, events or occurrences that arise from or are related to the fact that the director is or was a director of the Company or any subsidiary of the Company, or is or was serving at the request or for the benefit of the Company. Subject to certain limitations, the Indemnification Agreement provides for the advancement of expenses incurred by the director in connection with the proceedings described above. The Indemnification Agreement does not exclude any other rights to indemnification or advancement of expenses to which the director may be entitled.
The foregoing description of the Indemnification Agreement does not purport to be complete and is qualified in its entirety by reference to the form of Indemnification Agreement attached to this Current Report on Form 8-K as Exhibit 10.1, which is incorporated herein by reference.
Departure of Directors or Certain Officers; Election of Item 5.02 Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On October 8, 2013, John O'Steen informed the Board of the Company that he had decided not to stand for reelection as a director of the Company effective at the next annual general meeting of shareholders of the Company to be held in February 2014.

The Chairman of the Board of the Company, Mr. MacDonell Roehm, Jr., on behalf of the Board, thanks Mr. O'Steen's many important contributions over his 25 years of service on behalf of the Company.

Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit No. Description
10.1 Form of Indemnification Agreement

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