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KLIC > SEC Filings for KLIC > Form 8-K on 11-Dec-2013All Recent SEC Filings

Show all filings for KULICKE & SOFFA INDUSTRIES INC

Form 8-K for KULICKE & SOFFA INDUSTRIES INC


11-Dec-2013

Entry into a Material Definitive Agreement


Item 1.01 Entry into a Material Definitive Agreement

On December 5, 2013, the Board of Directors (the "Board") of Kulicke & Soffa Industries, Inc. (the "Company") approved a form of indemnification agreement for certain officers of the Company (the "Indemnification Agreement"). 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 officers 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 each of the Company's current executive officers and any new executive officer. The Indemnification Agreement generally provides, among other things, that the Company will indemnify the applicable officer, 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 officer is or was an officer 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 officer 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 officer 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. Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description
10.1 Form of Indemnification Agreement


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