UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report:
February 2, 2007
Maxim Integrated Products, Inc.
120 San Gabriel Drive
(Date of earliest event reported)
(Exact name of registrant as specified in its charter)
Sunnyvale, California 94086
(Address of principal executive offices including zip code)
(408) 737-7600
(Registrant's telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF
DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS. (e) On February 2, 2007, Maxim Integrated Products, Inc. (the "Company") and Carl
W. Jasper, the Company's former Chief Financial Officer, entered into a severance and release agreement with respect to Mr. Jasper's
resignation from the Company. Under the agreement, Mr. Jasper released all claims against the Company, and in exchange the
Company agreed to pay Mr. Jasper $482,400, less required withholdings in a lump sum payment (the $482,400 payment represents
$432,400 of additional salary and bonus earned since June 25, 2006, the beginning of fiscal year 2007, and $50,000 to settle claims
that Mr. Jasper contends is owed to him under a severance arrangement). The Company also agreed to reimburse Mr. Jasper for the
premium expense made under COBRA for continued medical, dental and vision coverage under the Company's medical plans for Mr.
Jasper, his spouse and his children until the earlier of the time in which (x) he becomes eligible for other medical coverage in
connection with other employment, (y) he voluntarily purchases other medical insurance or (z) he is no longer eligible for COBRA
coverage through Maxim. Due to the Company's mandated blackout of stock option and restricted stock unit exercises as a result of
the Company being delinquent in its periodic filings with the U.S. Securities and Exchange Commission, Mr. Jasper, along with other
individuals whose employment terminated with the Company during this blackout period, will be given until September 30, 2007 (or by
other extension provided by the Company) to exercise stock options and restricted stock units that were vested as of his termination
date. The Company intends to indemnify Mr. Jasper to the extent required by the Company's charter, Delaware law, California law and
under his indemnity agreement with the Company dated September 7, 2005.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
Maxim Integrated Products, Inc.
By: /s/ Tunc Doluca
Tunc Doluca
President and Chief Executive Officer
Date: February 8, 2007